ORIGINAL: Retransmission: Renforth Divests Residual Interest in Denain-Pershing Property to O3 Mining Inc. 2021-07-29 07:00 ET - News Release
TheNewswire - July 29, 2021 - Renforth Resources Inc. (CSE:RFR) (CNSX:RFR.CN) (OTC:RFHRF) (FSE:9RR ) (“Renforth” or the “Company”) is pleased to announce that O3 Mining Inc. (“O3”) has fulfilled the conditions of the option agreement held by O3 on the Denain-Pershing Property (the “Property”) to earn-in an 80% ownership interest in the Property and has purchased the remaining 20% interest in the Property from Renforth.
Total consideration received by Renforth from O3 pursuant to the fulfillment of the option agreement and the purchase of the residual interest in the property consists of C$125,000 and 21,603 common shares of O3. The shares are subject to a statutory hold from the issue date of 4 months and one day and will be held for investment purposes.
“Renforth is pleased to have concluded the divestiture of the Denain-Pershing Property to O3.
This allows our team to maintain our focus at our flagship Parbec gold asset, as well as our Surimeau District Project where we have recently completed our latest drill program on our battery metals property without spending or dilution considerations at Denain-Pershing ” states Nicole Brewster, President and CEO of Renforth.
For further information please contact: Renforth Resources Inc. Nicole Brewster President and Chief Executive Officer C:416-818-1393 E: firstname.lastname@example.org #269 – 1099 Kingston Road, Pickering ON L1V 1B5
About Renforth Renforth holds the Parbec open pit constrained gold deposit in Malartic Quebec, contiguous to the Canadian Malartic mine, with a 2020 resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au. This resource estimate is now considered by Renforth to be out of date due to the results received in a 15,569m drill program which has been recently completed. This program was planned to twin, infill and undercut existing drill holes at Parbec, to support a rebuild of the geological model and a resource estimate restatement.
In addition to this Renforth has discovered a nickel bearing ultramafic, coincident with a copper/zinc VMS, over ~5km of strike in the western end of the 20km central anomaly at Renforth’s wholly owned 260 km 2 Surimeau property. This prospect was discovered on surface and the subject of a very short, shallow drill program, a more robust drill program is planned for Spring 2021.
Renforth also holds the Malartic West property, the site of a copper/silver discovery, and Nixon-Bartleman, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.
Renforth is well funded, with ~$5 million in cash and securities on hand (*as at 05/14/21), in addition to the gold contained in our gold deposit.
ECONOMY Economic Overview heavily dependent on the extraction and processing of minerals for export; mining accounts for about 12.5% of GDP, but provides more than 50% of foreign exchange earnings; one of the world’s largest producers of uranium.
Since june 17, 2021 nearly 100% of the shares issued traded @ 0.045-0.05¢ the stock tade at cash value per share At that level we have a strong support
Now we have 3 potential scenarios
1- Namibia renew the license.......NOPE ......The ministry doesn't want to loose face 2- DSM take legal remedies, Win or Loose the International communities will know that Namibia is no longer a friendly location
3- Use working cap to acquire a better deal in a better location
ORIGINAL: Director Sadike Nepela Dies at the Age of 59
2021-07-02 09:36 ET - News Release Summary
Vancouver, B.C., Canada – TheNewswire - July 2, 2021 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSXV:DSM) (OTC:DSMTF) announces that Luke Sadike Nepela has passed on after a short illness.
The Board of Directors offers it’s condolences to his wife and family.
The Board acknowledge his dedication as a Director of the Company.
John Akwenye, Chairman of Deep-South stated, "We will miss a very good colleague and for some of us we will miss a very good person and friend “.
Mr. Nepela will not be immediately replaced on the Board of Directors
My evaluation of the situation is the the Minister of Mines and Energy based his decision only with the briefing of a tire kicker needing a claim of fame.
When the Chairman met with the Minister, the Minister took a lot of notes.
In these countries a Minister take his time before reversing a decision, simply to avoid looking stupid.
On the other hand Namibia sent a strong signal to foreign companies ''spend a lot of money and when we are ready will give you a kick in the butt''. Countries doing that don’t attrack international capital.
ORIGINAL: Update on Deep-South Haib Copper Licence Renewal Application 2021-06-25 08:00 ET - News Release VANCOUVER, BC, June 25, 2021 /PRNewswire/ - Deep-South Resources Inc. ("Deep-South" or "the Company") (TSXV: DSM) announces that further to the meeting yesterday with the Minister of Mines and Energy of Namibia and other Officials of the Ministry of Mines and Energy (the "Ministry"), the Company has received a notice from the Minister confirming that the Company's application for the renewal of its Exclusive Prospecting Licence 3140 (the "Licence") has been refused. The Company intends to vigorously contest this decision by all means necessary and available under the Minerals (Prospecting and Mining) Act (the "Act") and other applicable laws of Namibia. In its application for renewal and subsequent representations made to the Ministry, the Company maintains that it clearly demonstrated having met all criteria under the Act to justify the renewal of its Licence. As disclosed in our press release dated June 16, 2021, the Company had received notice from the Ministry informing the Company that its application for the renewal of its EPL had been denied citing the Company's inability to advance the EPL to Pre-Feasibility and complete the proposed drilling program as planned. The Company maintains that the Ministry was kept well apprised, with no objection on their part, of a proposed change from the Pre-Feasibility study to upgraded Preliminary Economic Assessment (PEA) and commencement of a full feasibility study. Moreover, the Ministry issued all permits required for the drilling program and are well aware that Deep-South has completed the drilling program.
Pierre Léveillé, President & CEO of Deep-South Resources, makes an announcement following this week’s news release. Pierre will keep you informed of any upcoming developments. See more here. TSX-V: DSM OTCQB :DSMTF
Answers from our CEO FYI: Quoted answers by CEO after permission of going public CEO: See my answers after each of you questions below:
• EMP for EPL 3140 The EMP for EPL 3140 was filled in august 2020 of your subsidary: the-eis.com/elibrary/sites/def…0Mineral%20EPL%203140.pdf SLR Consulting (Africa) (Pty) Ltd (SLR) has been appointed by Haib Minerals as the independent environmental assessment practitioners to undertake the EMP amendment process and submit the updated EMP to MET for their review and approval.
Was it submitted to MET? Is it approved? Is that MET linked with the EPL conditions? Answer: The EMP was filed and approved. When approved it is an Environmental Clearance Certificate that is issued for 3 years. We have the ECC since February as it is a condition to start drilling. The Ministry of Mines has issued the drilling permit only on the condition that we have the ECC
• Please comment the progress: [*] Drilling 20 holes for both metallurgical tests and geo-tech holes on three target area (Target Area 1, 2,and 3) with identified 10 sites (refer to Figure 1-3). [*] Excavation of 4 representative trenches, ±20 meters long and ±1 meter deep in the above mentioned target areas. (think buld samples permitted til Nov202 • [*] Extraction of water from the Orange River for drilling purposes (as per previous EMP). Answer: The information you have is different in the resulting ECCas we have changed the trenches for more drilling and it has been approved. If we drill it is because we have received all authorizations for the District Concilor, which is the relevant authority to approve water extraction for exploration. For mining it is a different authority.
• As far as we know - some time ago - there was also a MDRL fr Haib applied. That would provide sharesholders much more safety than a conditioned EPL. Have you applied for a MDRL? What is the current status or the feedback of MET Answer: The MDRL application was filed by Teck Resources in January 2017 with the Ministry of Mines, not the MET, which has nothing to do with the granting of exploration or mining licences. At the time Teck was still holding 70% of the company holding the licence and they have done it without our consent. MDRL application was very bad news. A Mining Deposit Retention Licence is filed for up to 5 years when a company intends to carry no exploration or development work for a period of up to 5 years. We bought Teck 70% interest in May 2017 and immediately requested to apply for an extension of the EPL, which was approved by the Ministry. The MDRL filed by Teck was refused.
• Some of us are confused because we didn't find a NR or sedar Filling of the very important old application extension til 21.04.2021. Is there a filling? And if not, why? Answer: We have never issued NR for an application of a licence renewal. However, you can understand that if the Ministry has refused the licence renewal it is because we have filed an application for renewal. I confirm, we have duly applied
• Pilot Plant "The Company has also informed the Ministry that at the completion of the Feasibility Study, it is planning to build a pilot plant on site for an estimated cost of CAD$ 25.5 million"
Our concern is that it will be difficult to communicate positively to investors. Which strategic Partner will invest before getting the detailed recovery results? That could lead to much dilution. Was this pilot plant part of the updated PEA? Do you think it will be obligatory ;-) to convince MET to get the EPL renewal Answer: The pilot plant is not part of the updated PEA but will be part of the Feasibility Study (FS). It is normal to inform the Ministry of Mines of the long term planning. Building a pilot plant after the FS is a normal step for any project in development and not planning it would be weak project management.. I am always fascinated to see how some investors are bothering with potential dilution that could only happen in a long time (2.5 years) and only if certain conditions are met. In this case, the FS needs to be positive and recommend the pilot plant. We are confident that if the FS is positive and recommend the pilot plant, our market cap will be higher and we will limit dilution. Also, the FS can be convincing for a strategic partner. So, there will be many conditions that will evolve and change over time that makes a discussion about dilution today quite speculative and useless
We don’t have to convince MET (Ministry of Environment and Tourism) for the renewal of any exploration licences. We have to convince MME (Ministry of Mines and Energy)
Sadike Nepela, DSM Director Sadike Nepela serves as General Manager of Kalahari Minerals PLC.
''''''''''''''''''' For a number of years, Mr. Nepela served as an Assistant to the Minister in the Namibian Ministry of Mines and Energy'''''''''''''''''''''
and most recently he has been the General Manager for Westport Resources, a subsidiary of Forsys Metals Corp.(listed on the TSX). He is also a Fellow of the International Centre for Research and Training in Major Projects Management, Montreal, Canada. Mr. Nepela is a graduate of the University of Witwatersrand, Johannesburg and has also studied at the University of Connecticut, West Hartford, USA.
UPDATE ON DEEP-SOUTH HAIB COPPER LICENCE RENEWAL 2021-06-16 16:02 ET - News Release Mr. Pierre Leveille reports Deep-South Resources Inc. has received notice from the Ministry of Mines and Energy of Namibia informing the company that its application for the renewal of exclusive prospecting licence No. 3140 has been denied, citing the company's inability to advance the licence to prefeasibility and complete the proposed drilling program as planned. The company has requested an urgent meeting with the Minister of Mines and Energy to review and reverse the decision.
''''''''The company is convinced it is a misunderstanding. The minister has accepted a meeting to discuss the matter. The meeting should take place early next week.'''''''''''
The company maintains that the ministry was kept well apprised, with no objection on its part, of a proposed change from the prefeasibility study to an upgraded preliminary economic assessment and the commencement of a full feasibility study.
'''''''Moreover, the ministry issued all permits required for the drilling program and is well aware that Deep-South has completed the drilling program.'''''''''
Pierre Leveille, president and chief executive officer of Deep-South, stated: "In the context that the company is well funded and moving ahead with a large development program, the decision of the minister is surprising and certainly not in the best interest of the development of the mineral resources of Namibia. We believe that a meeting with the minister will remove any possible misunderstanding and the situation will be rectified in the shortest time frame possible. We are hopeful that our efforts to meet with the minister will reach a positive outcome." In its application for renewal and subsequent representations made to the ministry, the company has clearly demonstrated that it adequately meets the criteria under the Minerals (Prospecting and Mining) Act (Namibia) to justify the renewal of its licence. Accordingly, the company is of the opinion that the refusal is unreasonable.
The company has demonstrated to the minister that during the past two tenures (from April, 2017, to April, 2021), it has invested $2-million with the completion of, among other things: a National Instrument 43-101 resource estimate; a preliminary economic assessment; a large two-ton sampling and heap-leach test; geological mapping; modelling; and an upgraded preliminary economic assessment.
Furthermore, in its renewal application, the company has proposed a feasibility study program with a budget of $7.1-million. The program was under way with three drills and 42 employees on site. METS and CSIRO (Commonwealth Scientific and Industrial Research Organisation) of Australia have also begun metallurgical tests, bioleaching, high-pressure grinding roller tests and a flowsheet optimization program in two laboratories in Australia. Knight Piesold also has four scoping studies under way, covering: water usage; alternative power solutions; leach pad assessment; and environmental path to the ESIA. The company has also informed the ministry that at the completion of the feasibility study, it is planning to build a pilot plant on site for an estimated cost of $25.5-million.
As a result of the minister's refusal to renew the licence, the company has immediately suspended all work on site and hopes that the retrenchment of its employees will be avoided.
About Deep-South Resources Inc. Deep-South Resources is a mineral exploration and development company. Deep-South's growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and in proximity to infrastructure in stable countries. In using and assessing environmentally friendly technologies in the development of its copper project, Deep-South embraces the Green Revolution. We seek Safe Harbor. Source: https://www.stockwatch.com/News/Item/Z-C!DSM-3099342/C/DSM
Deep-South Resources (CVE: DSM-OTC: DSMTF) President and CEO Pierre Léveillé, joined Stephen Gunnion from Proactive with detail of the second batch of assay results from the company's current drilling programme at its Haib copper project in southern Namibia. Léveillé, telling Proactive that Deep-South continues to have success with its active drill program identifying thick, higher-grade zones.
21-06-10 08:04 ET - News Release Mr. Pierre Leveille reports DEEP-SOUTH INTERSECTS 156 METRES OF 0.46% CUEQ, INCLUDING 24 METRES OF 0.65% CUEQ FROM 26 METRES DEEP Deep-South Resources Inc. has provided the second batch of assay results from its current drilling program at its Haib copper project in southern Namibia. Significant copper and molybdenum intersections include: • HM03: 0.46 per cent copper equivalent over 156 metres, including 24 metres at 0.65 per cent copper equivalent; • HM02: 0.39 per cent CuEq over 74 metres, including six metres at 0.73 per cent CuEq; • HM04: 0.43 per cent CuEq over 26 metres, including four metres at 0.87 per cent CuEq. Pierre Leveille, president and chief executive officer of Deep-South, stated: "We continue to have success with our active drill program identifying thick, higher-grade zones. We are consistently intercepting significantly higher grades than the average grade of our NI [National Instrument] 43-101 indicated resource that stands at 0.31 per cent Cu. The higher-grade zone in pit 2 extends significantly further west and at depth than previously demonstrated. It's increasingly apparent that the use of vertical drilling in the past missed many of the near-vertical structures contained within the broader mineralization of the project. Those near-vertical structures so far are proving to be associated with a higher grade of copper than contained within the current resource. Additionally, the presence of molybdenum has been confirmed with high Mo grades obtained in association with structures and alterations." These three holes for which assay results have been received cover about 684.11 metres and were drilled on the central mineralized portion of the deposit to better delineate the extension of this zone to other mineralized areas located to the northwest and southwest. The holes have successfully encountered intercepts of mineralization from bedrock or near bedrock surface. Assay results for the holes are in the attached table. Hole From To Width CuEq Cu Mo No. Zone (m) (m) (m) (1) (%) (2) (%) (%)
HM02 Main 64 86 22 0.4 0.4 0.001 Including 80 84 4 0.95 0.95 0.001 Main 110 184 74 0.39 0.35 0.013 Including 118 124 6 0.72 0.66 0.017 Including 162 168 6 0.73 0.56 0.05 Main 216 238 22 0.43 0.4 0.009 HM03 Main 26 182.5 156.5 0.46 0.41 0.015 Including 26 38 12 0.61 0.59 0.006 Including 100 130 30 0.58 0.5 0.023 Including 136 148 12 0.6 0.57 0.01 Including 152 176 24 0.65 0.64 0.004 HM04 Main 176 182 6 0.5 0.44 0.017 Main 194 204 10 0.41 0.41 0.001 Main 212 238 26 0.43 0.4 0.008 Including 232 236 4 0.87 0.76 0.034
This is muchly in line with their technical department too as even before the recent price rise the team at Commerzbank projected a move higher in the yellow metal. For now, it seems that the bulls are very much in charge as gold continues to trade above $1900/oz.
SMALL CAP GOLD COMPANY: SMOOTH ROCK VENTURE TSX.V: SOCK OTC: SMRVF
Copper Could Hit $20,000 a Ton, Says BofA's Blanch
Francisco Blanch, head of global commodities and derivatives research at Bank of America, is very bullish on copper. “We think we could go as high as $20,000 a ton if the supply of scrap copper doesn’t make it to the market," he told "Bloomberg Surveillance."
Deep-South currently holds 100% of the Haib Copper project in Namibia, one of the largest copper porphyry deposits in Africa. A recent PEA shows that at a copper price of $3.50 per lb, Haib generates an after-tax NPV of US $ 1.3 billion and an after tax IRR of 42.1%. • INITIAL ASSAY RESULTS FROM HAIB COPPER PROJECT CONFIRM HIGH EXPECTATIONS • DEEP-SOUTH RESOURCES ADVANCES ON ALL FRONTS WHILE DRILLING AT THE HAIB COPPER PROJECT IS IN FULL SWING • AMBITIOUS DRILL PROGRAM KICKS OFF IN NAMIBIA AS DEEP-SOUTH RESOURCES ADVANCES HAIB COPPER DEPOSIT • INITIAL REPORT EXPLAINS WHY DEEP-SOUTH RESOURCES IS EXTREMELY UNDERVALUED COPPER PLAY • INTERVIEW WITH DEEP-SOUTH RESOURCES CEO REVEALS MASSIVE POTENTIAL IN COPPER SPACE
ORIGINAL: Deep-South Appoints the CSIRO of Australia to Conduct the Bio Assisted Heap Leaching Test Work 2021-05-19 09:20 ET - News Release (via TheNewswire) Vancouver, B.C., Canada – TheNewswire - May 19, 2021 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSXV:DSM) (OTC:DSMTF) today announced that it has appointed the world-renowned Commonwealth Scientific and Industrial Research Organisation (“CSIRO”) to conduct bio-assisted heap leaching column test work, which is part of Deep-South’s recently announced metallurgical test work. METS Engineering Group (“METS”) of Australia has been appointed to supervise and overview the test work. Pierre Leveille, President & CEO of Deep-South stated, "With the drilling program under way, we are delighted to initiate a collaboration with CSIRO, Australia’s national science agency, which is a leader in scientific research and bio-assisted heap leaching technologies. The main aim of this test work is to improve copper recoveries and therefore improving the Haib Copper project robust economics.” The goals of the bio-assisted heap leaching test work include the evaluation of the performance of promising solvent extraction reagents for extraction and separation of copper and molybdenum and monitor and evaluate the adaptation of bacterial strains for improved ore processing. The test work will also monitor and evaluate percolation performance. The test work will mainly serve to optimise the bio-assisted heap leaching processes with the ore at Haib.
This initial column test work will assess two s ize fractions of the ore. One will be at a size of <2.36 mm and the other one at a size of <1.7 mm. The undersize will be screened at -106 microns, removing the requirement for agglomeration prior to leaching. The undersize material (-106 microns) will be the object of a sighter program to assess amenability to a flotation, roasting and leaching flowsheet. This will further define if overall target recoveries can be achieved from the fine material and metal extraction can take place at an increased pace versus column leaching. About CSIRO The Commonwealth Scientific and Industrial Research Organisation (CSIRO) was founded in 1916 and is Australia's national science agency and one of the largest and most diverse scientific research organisations in the world. Its research covers subjects such as natural environments, environmental impacts, health and medical, production and many others. Dr Anna Kaksonen leads the Industrial Biotechnology Group in the Industry Environments Program in CSIRO Land and Water. With her Group she develops biotechnological processes for environmental and industrial applications in the mining, energy, water supply, waste and wastewater treatment industries. Research topics of special interest have included: mining biotechnology (e.g. bioleaching, biooxidation, bioprecipitation, bioflotation). You can visit the CSIRO website here: https://www.csiro.au
About METS Engineering Established in 1988 by Damian Connelly, Mineral Engineering Technical Services (METS) has a reputation for providing quality service to the global mining industry. Based in Perth Australia. They have served clients all around the world from large companies such as Rio Tinto to exploration and development companies such as Deep-South Resources. They provide a comprehensive range of services including Mineral processing, engineering design and hydro metallurgy test work. You can visit the METS website here: https://www.metsengineering.com About Deep-South Resources Inc Deep-South Resources is a mineral exploration and development company. Deep-South holds 100% of the Haib Copper deposit in the south of Namibia. Haib is one of the largest undeveloped copper deposits in Africa. The recent preliminary economic assessment showed that at a price of copper of $3.00 / lb, the project generates an after-tax NPV of $950 million and an after-tax IRR of 30%. At $4.00 / lb, it generates an after-tax NPV of $1,650 million and an after-tax IRR of 42%. (See the press release here: https://www.deepsouthresources.com/investors/news-releases/deep-south-pea-update-returns-singnificantly-improved-economics/ ) Deep-South growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and close to infrastructures in stable countries. In using and assessing environmental friendly technologies in the development of its copper project, Deep-South embraces the green revolution. This press release contains certain "forward-looking statements," as identified in Deep- South’s periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Neither the TSX Venture Exchange nor its Regu
Deep-South to Host Live Webinar on Monday, May 24th at 2pm ET 2021-05-18 10:07 ET - News Release (via TheNewswire)
Vancouver, B.C., Canada – TheNewswire - May 18, 2021 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSXV:DSM) (OTC:DSMTF) today announced that Pierre Leveille, President & CEO, will be hosting a live investor webinar on Monday, May 24 th to go through the Company’s May investor presentation including an overview of current operations and upcoming milestones.
You can register for the webinar below: Date : Monday, May 24 th , 2021 Time : 2pm EST Register : Webinar Registration
HAVE QUESTIONS? Management will be available to answer your questions following the presentation on the webinar platform. You may also submit your question(s) beforehand via email to email@example.com
About Deep-South Resources Inc
Deep-South Resources is a mineral exploration and development company. Deep-South holds 100% of the Haib Copper deposit in the south of Namibia. Haib is one of the largest undeveloped copper deposits in Africa.
Deep-South growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and close to infrastructures in stable countries. In using and assessing environmental friendly technologies in the development of its copper project, Deep-South embraces the green revolution.
This press release contains certain "forward-looking statements," as identified in Deep- South’s periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Renforth drills 18.75 m of 4.59 g/t Au at Parbec 2021-05-18 09:16 ET - News Release Ms. Nicole Brewster reports RENFORTH INTERSECTS 4.59 G/T GOLD OVER 18.75M, INCLUDING 8.73 G/T GOLD OVER 7.15M Renforth Resources Inc. has updated shareholders on the results of PAR-21-117, the first hole drilled in 2021, intersecting new gold mineralization, in particular 18.75 metres of 4.59 grams per tonne gold, at a vertical depth of approximately 200 m. This occurs at a place within the resource model where, prior to the recently completed 15,569m program, there was only one drill hole which was collared further to the north, failing to intersect most of the Cadillac Break, in addition, the values obtained in PAR-86-01 were not used in the Parbec May 2020 Open Pit Constrained Resource Estimate. As can be seen in the section below there were 3 holes drilled in the recent program in this area, results are still outstanding for the first 148m of PAR-21-127 and for all of PAR-21-142. The mineralized zone in PAR-21-127 was intersected in the lower drill hole PAR-20-106 but it was of a lower grade. Renforth interprets this to mean that the structural zone continues, though the grade varies. The mineralization seen at a shallower depth in PAR-20-106 may also occur in PAR-21-127, however, the first 148m of PAR-21-127 have not been received. PAR-21-127 Assay Highlights Drillhole From (m) To (m) Length (m) Gold (g/t) PAR-21-127 93.5 148 Assays Pending PAR-21-127 158.9 160.2 1.3 1.81 PAR-21-127 213 214.5 1.5 0.73 PAR-21-127 260.5 279.25 18.75 4.59 including 265.55 272.7 7.15 8.73 which includes 269.5 272.7 3.2 8.11 and also includes 265.55 266.8 1.25 15.76 PAR-21-127 278.9 279.25 0.35 2.79 PAR-21-127 284.15 287.75 3.6 0.96
*assay results presented above are as measured in the core box and not true width Samples referred to in this press release were selected, split, bagged and tagged in the field and delivers to the facilities of AGAT Laboratories in Val d'Or Quebec where they were assayed for gold using "202-051 - Au by Fire Assay, AAS Finish" and "202-064 - Au by Fire Assay, Gravimetric Finish" for overlimit (greater than 10 g/t Au) values.
Renforth Resources Inc (CSE:RFR) (OTCPINK:RFHRF) (FRA:9RR) CEO Nicole Brewster tells Proactive the group has reported results from the first hole of its 2021 program at the company's flagship Parbec open pit gold deposit in Quebec. Brewster says the hole was a successful "twin" of another hole, supporting 1993 data, whose results were not used in last year's resource estimate. Brewster says the Parbec drill program was designed to fill in gaps within the existing deposit model, to test for the downdip extension of mineralized zones and to twin holes drilled between 1986 and 1993 to allow the assay results from those 62 holes to be used in the 2021 resource estimate, which is expected to be completed in June or July this year. https://youtu.be/7lY0a9320YE
COMPANY DESCRIPTION: Renforth Resources Inc.(CSE:RFR, OTCQB:RFHRF) is a Canadian-focused mineral exploration company with a portfolio of four gold and battery metal projects within the Abitibi Greenstone Belt, a world-class mining region, with three projects in Quebec (Parbec, Surimeau, and Malartic West), and the Nixon-Bartleman property in Ontario.
INVESTMENT THESIS AND UPCOMING CATALYSTS: • Four Exploration Projects in the Abitibi Driving Value:
- Parbec Gold Project: Current near-surface, NI 43-101 resource of 282,800 gold ounces at 1.77 g/t, located on Cadillac Break, near Malartic, Quebec.
- Surimeau Battery Metals Project: District-scale project with seven mineralized targets and Volcanogenic Massive Sulphide (VMS) potential, near Malartic, Quebec.
- Malartic West Copper-Silver Project: District-scale project adjacent to the western border of the Canadian Malartic Mine (CMM).
- Nixon-Bartleman Gold Project: Gold on the surface over a strike length of 500m and sitting on the Destor-Porcupine Fault, near Timmins, Ontario.
• Strong Management Team: Management has extensive experience and geological knowledge of the region.
• Fully Funded for 2021: With the recent financing and asset sale, Renforth has $6.3 million in cash and securities and no debt.
• Upcoming Catalysts: o Parbec: Drill results from the completed 15,569-metre drill program with planned resource restatement in Q2/2021. o Surimeau: Results from a 15-hole (3,600 metres) drill program planned in the spring of 2021. o Malartic West: Results from early stage exploration work in 2021.
o Nixon-Bartleman: Exploration results from the planned Q2/2021 field work program. FINANCIAL ANALYSIS & VALUATION:
• We value Renforth based on a sum-of-parts model at $78.9 million or $0.25/share based on the fully diluted share count of 321.1 million.
• We are Initiating Coverage with a Speculative Buy rating and one-year price target of $0.25.
ORIGINAL: Deep-South Appoints Knight Piesold to Produce Scoping Studies on the Haib Copper Project in Namibia
2021-05-13 08:50 ET - News Release
Vancouver, B.C., Canada – TheNewswire - May 13, 2021 – Deep-South Resources Inc. ("Deep-South" or “the Company") (TSXV:DSM) (OTC:DSMTF) today announced that it has appointed Knight Piésold Consulting to conduct scoping studies and assessments on the Haib Copper Project in Namibia. Knight Piésold has extensive experience in environmental, bulk water supply, power, and heap leaching projects in Namibia and Southern Africa. The scoping studies include: Water Supply Scoping Study: Knight Piésold will undertake a high level assessment of the various water options available to the Haib project from surface and groundwater sources. Aspects to consider will include costs, reliability and environmental processes required, with a special focus on gaps and recommendations for future studies. Alternative Power Supply Scoping Study: Knight Piésold will undertake an assessment of the various power options available to the Haib project including renewable power, and will preliminary size the required infrastructures. Aspects to consider will include technical requirements, costs, reliability, environmental and permitting processes required. Environmental reconnaissance and road map to the Environmental and Social Impact Assessment (ESIA): Knight Piésold will undertake an assessment of the various parameters and conditions needed to complete an ESIA and will deliver a roadmap to ESIA and recommendations particularly in terms of project schedule and key milestones to be achieved. Heap leach pad conceptual assessment: Knight Piésold will undertake a review of previously completed work, conceptual sizing and design of the heap leach pad, ponds and irrigation system and recommendations for future studies. Project information review will include leach column tests, conceptual sizing of the heap leach pad and ponds, dynamic water balance, review of alternatives, gap analysis, project risks identification and recommendations. Pierre Leveille, President & CEO of Deep-South stated, "We are delighted to initiate a collaboration with Knight Piésold, a leader in mining engineering, which has a vast experience in Namibia. We are confident that their studies will provide strong guidance and will add value to the project.” About Knight Piésold Founded in South Africa 100 years ago, Knight Piésold operates in over 15 countries around the world and has an office established in Namibia since 2008. Knight Piésold is an engineering and environmental consulting firm offering core services for the mining, power, environment, water resources, and infrastructure industries. Their interdisciplinary teams have worked on over 400 mining projects globally and have participated in the design and construction management of large scale national infrastructures in Southern Namibia such as the Neckartal Dam. Vis it Knight Piésold here: https://www.knightpiesold.com/en/ About Deep-South Resources Inc Deep-South Resources is a mineral exploration and development company. Deep-South holds 100% of the Haib Copper deposit in the south of Namibia. Haib is one of the largest undeveloped copper deposits in Africa. The recent preliminary economic assessment showed that at a price of copper of $3.00 / lb, it generates an after-tax NPV of $950 million and an after-tax IRR of 30%. At $4.00 / lb, it generates an after-tax NPV of $1,650 million and an after-tax IRR of 42%. (See the press release here: https://www.deepsouthresources.com/investors/news-releases/deep-south-pea-update-returns-singnificantly-improved-economics/ ) Deep-South growth strategy is to focus on the exploration and development of quality assets in significant mineralized trends and close to infrastructures in stable countries. In using and assessing environmental friendly technologies in the development of its copper project, Deep-South embraces the green revolution. This press release contains certain "forward-looking statements," as identified in Deep- South’s periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
PALMETTO GOLD PROJECT Smooth Rock Venture provides an update on the Company’s Palmetto Project, Esmeralda county, Nevada, USA. As part of the acquisition of the Palmetto Project, the Company took possession of: 1) all privately held hard copy: reports, drill logs, surveys, and other irreplaceable project records; 2) all historic geological, geophysical, and geochemical maps; 3) historic RC drill chips; 4) historic diamond drill core; 5) sample rejects; and 6) digital archive of all documents directly related to historical work on the property; 7) a 3D model. The 3D model gives a first-ever detailed view of the extent of the known mineralization.
This model also gives the Company a significant advantage planning future drilling and exploration, potentially increasing the mineralization and possibly establishing a resource. Given the availability of all exploration records and the preservation of drill core and RC chips, the previous owner ML Gold did produce a first-ever resource estimate on the project by re-confirming certain results from historic drilling.
Smooth Rock's field crews have completed a detailed ground land survey of the Palmetto claim blocks. Field crews have successfully located most of the historical drill holes completed by the previous operators of the exploration programs on the Project. The land survey was conducted with a Trimble Pro XRT2 L1/L2 GPS receiver capable of accuracies within 10 centimeters (4 inches). The data from the ground survey is now being used in compilation with the 3D modeling data from the historic resource estimation completed by WSP Canada Inc. ("WSP") (Palmetto Resource Estimation and Technical Report, April 26, 2018). Smooth Rock's geologists are presently determining drill hole collar locations for the upcoming drill program at Palmetto.
History of the Palmetto Project Smooth Rock owns a 100% undivided interest in the Palmetto Project and is subject to no outstanding royalties. The Palmetto Project consists of 116 unpatented mining claims totalling 2217 acres located in Esmeralda County, Nevada, within the southern portion of the Walker Lane gold trend.
The Palmetto Gold Project has had significant exploration work completed to date by Newmont Gold, Phelps Dodge Corp, Cambior Inc., Romarco Minerals, Curran Corp., Amselco Minerals, Escape Gold Group Inc. and most recently by ML Gold Corp. To date, 173 drill holes totaling 43,940 meters have been completed on several targets within the Project. The initial "Discovery Hole" in 1988, was drilled by Phelps Dodge and bonanza gold silver veins were subsequently drilled by Romarco Minerals in 1997-2002. The current mineral resource statement was updated by WSP to reflect a change in gold pricing and an adjustment in the mining costs in the generation of the constraining pit shells. The model and estimation were reviewed, repeated and prepared by WSP's author and independent qualified person, Todd McCracken, P.Geo. (Palmetto Resource Estimation and Technical Report, October 20, 2020). The below table summarizes the pit constrained resource estimation at the 0.15 g/t gold cut-off and remaining underground resource estimation at the 2.0 g/t gold cut-off. Classification Tonnes (000's) Au oz. Ag oz. Inferred (Pit) 9,397 281,581 1,926,652 Inferred (U/G) 170 11,114 95,926 Total Inferred 9,567 296,695 2,022,578
The above mineral resource estimation was completed using NI 43-101 standards of practice and classified as an inferred resource. The drilling was done by the previous owners of the Property form the basis for the resource estimation. Mineral solids were interpreted using the geology, structure, alteration, and grades. A total of 10 mineral solids in 4 mineral domains have been defined in the resource model. Drill hole sample intervals within each solid were assessed for grade capping and composited to 1.5 m intervals. The block model was estimated using ordinary kriging. Pit shells were constrained using US$1,500/ounce gold price and US$2/tonne mining cost and US$5/tonnes processed (heap leach), 80% gold recovery and 52% silver recovery. Current exploration program
There are several additional mineralized zones hosting significant grades within close proximity to the inferred resource zones. These zones have yet to be included in the resource estimate due to drilling density. Smooth Rock sees these areas having immediate potential to significantly increase the overall resource on the Palmetto gold project by increasing the drilling density between mineralized shells. Evidence suggests that there is significant potential to expand the resource in multiple directions.
The recent diamond drill program was designed to expand the current resource by drilling the mineralized zones laterally and drilling at depth below the present mineralization, targeting the high grade feeders’ chutes, as well as exploring other areas of the project outsi
Deep-South Resources (CVE: DSM-OTC: DSMTF) CEO Pierre Leveille joined Steve Darling from Proactive to bring news the company has released their first drill results from their current program at the Haib Copper project in southern Namibia. Leveille telling Proactive they saw significant copper and molybdenum intersections with numbers like 0.47% CuEq over 152 metres, including 30 metres at 0.81% CuE and 0.65% CuEq over 36 metres, Leveille also told Proactive a change in the way drilling has been done in the past is being proven successful with these first results Everything you need to know in 5 minutes
Renforth Resources, a Canadian-focused mineral exploration company, is both asset- and cash-rich with a collection of four 100% owned gold and battery metal projects within the Abitibi Greenstone Belt, a world-class mining region, with three projects in Quebec and one in Ontario.
Jay Currie’s Motherlode: Renforth Resources This is a casual column. It is not investment advice. It is about what I have “eyes on” weekly. You might want to take a look. Assume I am invested or would like to be invested in any company I mention. Do your own due diligence and get advice from an investment professional. Exploration I like exploration stories. Taking a prospective piece of ground and developing and testing a theory about its precious metals endowment is high risk but, potentially, ultra high reward. A discovery hole may potentially drive a $0.05 stock to $1.00 overnight. Here are three companies with very different exploration styles, which I am sharing my review notes with you on today. Renforth Resources Inc. Nicole Brewster, CEO of Renforth Resources Inc. (CSE: RFR | OTCQB: RFHRF), is a very practical, matter of fact person with a deadpan humour and an instinct for prospective properties. She was an investment broker for many years and has a sense of what the market is looking for: gold and base metals projects in Quebec. Nicole scored a coup for Renforth by selling one of its properties, New Alger, to Radisson for shares and cash in 2020. What this sale did, along with making a cash profit for Renforth and giving it exposure to Radisson’s success, was to eliminate the need for Renforth to raise money to drill its other properties. The great downfall of explorers is having to raise money selling cheap shares. Avoiding dilution was a key objective for Nicole. Now the company is drilling its Parbec property, literally next door to the Canadian Malartic mine, the last property along the Cadillac Break which is not owned by a major. This leads to a steady stream of press releases as core is assayed and new mineralized areas are discovered. The massive Canadian Malartic mine is in the process of transitioning to an underground operation. As it does it will need material to keep its mill operating. Renforth is delineating that material as it de-risks the Parbec property. At the moment it has 281,000 indicated and inferred ounces of gold at Parbec in a pit constrained model. That number will improve with more drilling. The going rate for gold ounces in the ground is around $100, so a reasonable buyout would be around $30 million. At $0.075, Renforth has a market cap of $18 million. And that ignores Renforth’s Surimeau property which contains a nickel bearing ultramafic, coincident with a copper/zinc VMS over a 5km strike. That property has barely been scratched but a robust drilling program is planned for spring 2021. With money in the bank, Renforth can drill and assay and report regularly. Eventually, the market will catch on and reward Nicole…