TORONTO, ONTARIO--(Marketwire - Feb. 6, 2013) - Renforth Resources Inc. ("Renforth" or the "Company") (CNSX:RFR) is pleased to announce that, pursuant to the purchase agreement entered into between Renforth and Cadillac Ventures Inc. regarding the New Alger Property, Renforth has issued the shares and made the initial payment required to Cadillac (see press release dated January 29, 2013).
The New Alger Property is a past producer, subsequent to production ceasing in 1948 the property has undergone intermittent exploration activity by various parties.
Renforth has initiated a comprehensive compilation of all the historic data including diamond drill logs from the 2007, 2008 and 2010 exploration programs. In addition to this recent work, Renforth has recovered the historic underground level plans, back and rib sampling records, and drill logs for 30 surface diamond drill holes drilled during the 1930's, which focused on the previously unexplored western portion of the Property. All of this data will be brought into a 3D model, and will be used to direct Renforth's future exploration activities.
"We are quite excited to see the results of the compilation at New Alger, to our knowledge it has never been done, we believe this will highlight the north and south mineralized horizons on the Property and guide our drilling. In addition the modeling of the level plans will allow us to calculate the volume of the underground workings as we consider dewatering the shaft in order to carry out underground exploration drilling," states Nicole Brewster, President and CEO of Renforth.
Renforth Resources Inc. is a Toronto-based exploration company with interests in two exploration assets, the previously productive New Alger property, located in the Cadillac Break Mining Camp, Quebec, and the Mink Lake Project, located outside of Red Lake Ontario, in a setting interpreted to be similar to the adjacent Springpole Mine Project.
No securities regulatory authority has approved or disapproved of the contents of this news release.