• TSX-V:ECR 0.14 (-0.01)
  • Volume 19,000

Press releases



May 29, 2018

Cartier Cuts 4.8 g/t Gold over 4.0 m, 525 m Below Chimo Mine

Val-d’Or, May 29th, 2018 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the Corporation) announces 4.8 g / t Au over 4.0 m within 25.8 m grading 1.0 g / t Au intersected at 525 m below the deepest stope of the Chimo Mine (FIGURE), located 45 km east of Val-d’Or. The results were intersected at 1,350 m depth in the geometric extent of the main gold zone cluster (Zones 5), which produced 2/3 of the 379,012 ounces mined from the mine (Source: MRNF, DV85-05 at 97-01).

Additional intersections grading7.4 g / t Au / 2.0 m within 8.0 m grading 2.1 g / t Au were also intersected at these depths (TABLE). These new results come from the ongoing 8,000m deep drilling program that is part of the 34,000m program of drilling on the property.

These results add to the drill results announced on March 20, 2018 (7.6 g / t Au over 5.0 m including 12.2 g / t Au over 2.5 m and included in 1.0 g / t Au over 60.0 m) and on March 27, 2018 (8.5 g / t Au over 3.5 m including 14.6 g / t Au over 2.0 m and included in 1.0 g / t Au over 71.0 m).  All these drill results confirm the continuity of the gold mineralization of economic within the main zone cluster at depth below the Chimo Mine (FIGURE).

Drill Hole From

(m)

To

(m)

Length (m) Au

(g/t)

Cluster of Zones 5
CH17-47A 1462.5 1466.5 4.0 4.8 5M, 5B, 5BS et 5M2
including 1462.5 1463.5 1.0 7.2
Included within 1460.6 1486.4 25.8 1.0
Included within 1460.6 1525.0 64.4 0.5
CH17-47E 1474.0 1476.0 2.0 7.4
including 1475.0 1476.0 1.0 13.6
Included within 1472.0 1480.0 8.0 2.1
Included within 1394.0 1480.0 86.0 0.4
CH17-46AE 1142.0 1144.0 2.0 3.5
Included within 1137.5 1145.0 7.5 1.2
Included within 1096.0 1145.0 49.0 0.6

Lengths are expressed along drill core axis.  The true thickness was not determined.

 

« The drill program below the Chimo Mine, consisting of two pilot holes providing deep access for the completion of 18 to 24 branch holes totaling more than 8,000 m, adequately intersects the extension of the main gold zones (FIGURE). Gold intervals similar to those mined in the deepest stopes of the mine are now confirmed 525 m deeper » commented Philippe Cloutier, President and CEO of Cartier.

All other analytical results from the three drills operating on the Chimo Mine property are pending.

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 5M, 5B, 5BS and 5M2 structures are shown in the video.

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. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.
  • Ongoing drilling program of 34,000 m (2017 – 2018): 8,000 on deep targets below the historic mine and 26,000 m on depth and lateral extensions of numerous gold zones. The overall drilling program consist of:

o   23 Gold Zones;

o   62 – 66 Drill Holes on 177 extensions of known gold zones;

o   Up to 281 Au-host structures traversed by drilling.

About Cartier

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 Corporation has a strong cash position with $13M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment 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 Corporation 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 Corporation 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.

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For more information, please contact:

Philippe Cloutier, P.Geo.

President and CEO

Telephone: 819 856-0512

philippe.cloutier@ressourcescartier.com

www.ressourcescartier.com

Investor Relations:

Relations Publiques Paradox

514 341-0408

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.


Document(s)

180529_Chimo_Z5_FINAL_EN