Val-d’Or, Quebec, March 3, 2010 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce the acquisition of a 100% interest in the Lac Landron property, which hosts significant copper and gold mineralization. Previous work returned results grading 1.05% Cu over 7.47 metres in trenches and intersections of 0.58% Cu over 6.7 metres and 0.53% Cu over 7.47 metres in drilling. Moreover, this zone shows a potential for gold with grades of 2.4 g/t Au over 1.73 metres in drilling. The property is contiguous to Cartier’s DoréRiver property (refer to November 18, 2009 press release). Completion of this transaction is subject to the approval of the TSX Venture Exchange and all securities issued thereunder will be subject to a four month hold period.
The Lac Landron property consists of 36 claims for a total of 2,088 hectares. The acquisition gives Cartier control of over 80 kilometres of the favourable Anorthosite Intrusive complex. The intrusive complex is host to copper and nickel showings and shows geological features reminiscent of productive magmatic sulphide mining camps such as Sudbury and Voisey’s Bay situated respectively in Ontario and Labrador.
“We identified the vast potential of this highly prospective area when we staked the DoréRiver property last summer,” commented Philippe Cloutier, President and CEO of Cartier. “The new property provides us with expanded access to the intrusive complex and mineralization on the northern flank of the intrusive. This clearly shows that the potential for precious and base metal mineralization may be present along strike for several kilometres. Cartier will be aggressively exploring the area this summer. We have multiple options to fund our exploration through financing or partnership and we look forward to providing updates as we move the project forward.”
The Lac Landron copper showing was discovered in 1959 by A.C. Thomson, on the south shores of LakeLandron. The area was prospected and follow-up trenching and drilling provided continuity to the original discovery. Mineralization, associated with alteration zones, is over 15 to 75 metres wide and consists of bornite, chalcopyrite, magnetite and pyrrhotite. The alteration zone is reported over two kilometres and appears to be open along strike and at depth.
Cartier will acquire a 100% interest in the Lac Landron property held by the vendor, in exchange for one payment totaling $5,000, and the issuance of 100,000 shares upon signing of the agreement. Cartier has also agreed to pay a net smelter return (NSR) royalty of 2% to the vendor in the event the property reaches commercial production. Cartier can buy back a 50% royalty interest upon payment to the vendor of $1,000,000.
The ease of access and lay of the ground allows Cartier to work the property on a year-round basis for trenching and drilling.
Figure: Localisation of Lac Landron property
Link to Project Summary: Rivière Doré project
Quality Assurance/Quality Control
The DoréRiver and Lac Landron exploration programs are conducted under the supervision of Mr. Philippe Berthelot, P. Geo., qualified person as defined by National Instrument 43-101. Cartier has implemented and adheres to a strict Quality Assurance/Quality Control program which includes mineralized standards and blanks for each batch of samples. Assay samples are taken from drill core sawed in half with one half sent to a commercial laboratory and the other half retained for future reference. Analyses are either performed by Techni-lab S.G.B. Abitibi inc. in Sainte-Germaine, Quebec, or by ALS-Chemex in Val-d'Or, Quebec, both accredited laboratories.
About Cartier Resources Inc.
Cartier is a mineral exploration company that is mainly focussed on making gold discoveries in the prolific mining friendly Abitibi Greenstone Belt. Cartier made three significant discoveries in 2009 and has staked large land packages in the Province of Quebec.
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For further information please contact:
Philippe Cloutier
President and CEO
Cartier Resources Inc.
Telephone: 819 874-1331
Fax: 819 874-3113
info@ressourcescartier.com
www.ressourcescartier.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.
