VAL-D’OR, QUÉBEC–(Marketwired – March 20, 2018) – Cartier Resources Inc. (TSX VENTURE:ECR) (“Cartier”) is pleased to announce it has intersected 7.6 g/t Au over 5.0 m, 235 m beneath the deepest stope at Chimo Mine, situated 45 km east of Val-d’Or. These new results were intersected at a depth of 1,075 m along the depth extensions of gold-bearing zones 5 which produced 2/3 of the ounces mined. The intersection is the first from an 8,000-m deep drilling program which is part of the ongoing 34,000-m drill program on the Chimo Mine property.
The intersection grading 7.6 g/t Au over 5.0 m, including 12.2 g/t Au over 2.5 m is included in a 60.0 m section grading 1.0 g/t Au, intersected 235 m below stopes of Zones 5 (FIGURE). The drill hole was completed using control directional drilling and was designed to cut several gold-bearing zones and to explore the potential depth extensions of the gold zones below past-producing stopes.
|Drill Hole||From (m)||To
|CH17-46AE1||1160.0||1165.0||5.0||7.6||5M2, 5M, 5B and 5BS|
|Lengths are expressed along drill core axis. The true thickness was not determined.|
« The objective of the deep drill program is to demonstrate the continuity of potentially economic gold mineralization at depths ranging from 900 m to 1,700 m, beneath the main stopes of the former Chimo mine » commented Philippe Cloutier, President and CEO of Cartier, adding «The continuity of the intersected grades as well as the broad width of the observed mineralization and alteration system, correspond to what we are looking for ».
The reader should view the 3D VIDEO, available on Cartier’s website. The 3D video helps visualize the different gold-bearing structures on the Chimo Mine property as well as key components that are the mine infrastructures, the gold-bearing zones, the gold intersection areas left unmined as well as the 281 targets of the ongoing drill program. The 5M2, 5M, 5B and 5BS Mineralized Structures are presented in the video.
The gold-bearing intersections are characterized with biotite-chlorite alteration and mineralization consisting of visible gold grains, arsenopyrite and/or pyrrhotite mineralization, smoky and/or white quartz veining. All other assay results from the four drills active on the property are still pending.
Chimo Mine Project Highlights
- The Chimo Mine produced 379 012 ounces of Gold (MERN DV 85-05 to DV-97-01);
- Cartier owns 100% interests of the property;
- Year-round access by road, proximal to custom mills;
- Gold ore was mined intermittently from 14 zones by 3 different producers from 1964 to 1997;
- Mine infrastructure consists of a network of drifts distributed on 19 levels, 80 m to 870 m deep, connected by a 3-compartment shaft 965 m deep (Headframe and surface facilities dismantled in 2008) but the electrical line and the sand pit are still present;
- Ongoing 34,000 m of drilling: 2017 – 2018; 8,000 m on deep targets below the historic mine and 26,000 m on depth and lateral extensions of numerous gold zones – overall program and targets
- 23 Gold Zones;
- 68 Drill Holes on 177 extensions of known gold zones;
- Up to 281 Au-host structures traversed by drilling;
Cartier Resources was founded in 2006 and is based out of Val d’Or, Quebec. Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government. In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdiction in the world for Investment Attractiveness.
Cartier Investment Highlights
- The company has a strong cash position with $16M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec Sovereign Funds;
- Cartier’s strategy is to focus on gold projects that are relatively advanced with significant potential for resource expansion laterally and at depth;
- The company holds a portfolio of advanced stage exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold;
- The company is focused on advancing its four key projects through drill programs. All of these projects were acquired at very reasonable valuations over the past few years. All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project,
- The Chimo Mine project is a historic gold producer. Three other projects, namely Wilson, Benoist and Fenton, hold historic resource estimates;
- In 2018, a 34,000-m drill program, aims to grow value on the Chimo Mine project.
Quality Assurance / Quality Control
All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and atomic absorption. For samples containing visible gold, 1000 g of rock are directly analyzed by the “Metallic Sieve” method.
The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources. Mr. Lavallière is a qualified person as defined by National Instrument 43-101.
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.
President and CEO
Relations Publiques Paradox