“Gold first, critical minerals next.” That is how Nicole Brewster, President, CEO & Director of Renforth Resources Inc. (CSE: RFR | OTC: RFHRF | FSE: 9RR), described the company’s direction in a recent InvestorNews interview with Tracy Hughes. With new gold results at Parbec and drilling extending mineralization beneath Victoria’s existing resource pit, Renforth is working toward a clearer understanding of how its two Quebec deposits could be developed. Nicole Brewster’s personal target is preliminary economic assessments on both properties in the latter part of 2027, supported by metallurgical work now being planned or undertaken.
At Parbec, the recent fieldwork has challenged an earlier assumption about the extent of a gold-bearing rock unit. Stripping that began late last fall exposed more felsite than the company expected. “We saw it tens of meters wide,” Nicole Brewster said. Channel sampling was followed by drilling beneath the exposed area, testing gaps in the deposit model used for the April 2025 mineral resource estimate. In her assessment, both programs have added useful information from areas that had received little or no previous testing.
The company’s October 19 release provides detail behind that assessment. Two drillholes intersected gold within the 2025 resource pit shell, including 9.41 grams per tonne gold over 4.05 metres in PAR-26-150 and 15.68 grams per tonne over 0.85 metres in PAR-26-149. Those intervals are measured core lengths; true widths are unknown. Renforth said it would begin an internal resource update incorporating the new drilling and trench results, historical surface channels and a revised gold-price assumption. The outcome remains to be determined.
Nicole Brewster said additional channel sampling was underway at the time of the interview as the team extended its stripped area ahead of winter. Renforth has also adopted PhotonAssay for the gold program. The work is intended to improve its understanding of a deposit where both surface exposure and drilling continue to identify mineralization, while providing more information for the coming resource update.
The larger drilling ambition at Parbec is 60,000 metres, designed to target gaps in the deposit, test deeper extensions and support the potential conversion of inferred resources into the indicated category. Nicole Brewster emphasized that the figure also reflects a deliberate effort to secure permission for several years of work. She described the permit as valid for two years from earlier this summer, with the ability to extend it for a third. “It’s a forward-looking permitting position,” she said. “It’s not a drill-starting-to-turn-today position.”
That distinction matters to the development timetable. Having drilling permission in place gives Renforth flexibility to carry out successive programs as it advances the geological model. Nicole Brewster said a similar approach is being prepared for Victoria, where the company is developing a drill plan and intends to permit numerous drill stations to provide scope for work over the next three years.
At Victoria, the latest drilling addressed whether mineralization continues beneath the pit used to constrain the September 2025 resource estimate. Renforth’s October 5 announcement reported three holes totalling 1,011 metres, all of which intersected broad nickel-cobalt intervals as well as zinc-copper-silver zones. One hole returned 118.0 metres grading 0.081% nickel and ended in nickel mineralization at a depth of 390 metres. These are downhole lengths, with true widths unknown.
For Nicole Brewster, the principal takeaway was continuity. She said Victoria remains open down-dip across the approximately 2.5 kilometres drilled within the roughly 20-kilometre structure. Further testing at depth and eventual step-outs along strike could help define its extent. “It’s just another piece in the path towards building Victoria, really,” she said. The latest holes provide additional evidence of mineralization beyond the existing resource pit, while leaving its ultimate dimensions to further exploration.
Processing is a central part of the next stage at both properties. At Parbec, Nicole Brewster outlined metallurgical work using material retained at the laboratory to assess its suitability for toll milling, under which mineralized material would be processed at another operator’s facility. She would also like to undertake a small bulk sample in 2027 to further characterize the material and potentially recover gold. Those steps would support her objective of a preliminary economic assessment later that year.
At Victoria, heap-leach research is underway at Queen’s University. Nicole Brewster said additional metallurgical testing would examine conventional grinding and flotation as another possible processing route, including the potential for toll milling. The work is intended to establish how the deposit’s metals might be recovered and to support a future economic assessment. Neither deposit’s mineral resources have demonstrated economic viability, and the study dates remain management objectives.
Alongside the technical work, Nicole Brewster is taking Renforth’s story to prospective investors and industry contacts. Her fall schedule includes Scottsdale, Resourcing Tomorrow and the Northern Miner Symposium in London, following meetings in New Orleans and New York. “I’m looking for partners or financing solutions or further-down-the-road relationships,” she said, describing events where attendees may have both personal investment interests and corporate mandates.
A new website is also being prepared, with its launch planned after the Parbec resource update is public. A video developed for that website and the London event distils the company’s priorities into the same sequence Nicole Brewster set out in the interview: gold first, then critical minerals. Renforth’s next steps include further sampling and drilling at Parbec, alongside metallurgical testing to assess potential development options for both deposits.
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