March 5, 2012
Cartier Resources is a Canadian based exploration company focused on discovery in the prolific Abitibi Gold Belt in Quebec. Cartier’s VISION is to develop the company’s current and future assets into near to medium term mineral production with a schedule consistent with its human and financial resources and respecting sustainable development practices.
Recently Cartier was bestowed the e3 Plus Award for environmental excellence in exploration by the Association de l’exploration minière du Québec (AEMQ). The e3 Award recognizes a company’s high level of environmental and social responsibility. President and CEO of Cartier stated, “This award reflects the willingness of our board of directors, management and employees in actively applying the e3 guidelines and principles”.
The e3 guidelines and principles can be consulted on the PDAC website, as well, the e3toolkit can be found at http://www.pdac.ca/e3plus/index.aspx. The toolkit is designed to assist exploration companies in continuously improving their social, environmental, and health and safety performance as well as to comprehensively integrate these three aspects into all their exploration activities. Merging modern sustainable development practices with traditional and innovative exploration techniques ensures that Cartier will capture the full potential of its discoveries.
|Common Shares Issued||
49 682 476
2 655 000
12 391 830
64 729 306
Cartier was founded in 2007 and listed on the TSX Ventures exchange (TSX-V) with the ticker symbol ECR. These past five years have seen significant evolution for Cartier’s’ asset base and development strategy. Results on several projects factored with a significant financing at year end have set the stage for a dynamic year 2012. Cartier’s’ development strategy continues to include multiple options to fund the exploration and acquisition of projects from either financing or partnership. “We will favor investing on projects “closer to the finish line”, so to speak” says CEO Cloutier, “to ensure a higher rate of success and caliber of news flow for our investors”. A guiding objective at Cartier is to set up a dynamic process which will allow developing and maintaining a balanced portfolio of mining projects ranging from exploration to resource definition, development and production.
One of Cartier’s priorities is the Cadillac Extension project located 115 kilometers east of Val-d’Or in the province of Quebec. The highlight of this project is the silver-copper-zinc-gold Langlade deposit.
The deposit was discovered in 1991 in the realm of a regional airborne EM survey, soil geochemistry, prospecting and trenching. From 1992 to 1994 seventeen (17) holes were drilled for a total of 5,260 metres. The mineralized zone is a lens of disseminated to semi-massive sulphides. In 2009 Cartier was able to stake the ground when the claims were not renewed by the previous owners.
By 2011, the Langlade surface expression was expanded and systematic channel sampling at 10-meter spacing completed. The best intersections (weighted averages) from results of contiguous channel samples from the surface exposure returned results grading up to: 1.6% Cu, 0.3% Zn, 48 g/t Ag and 0.2 g/t Au over 21 meters including2.6% Cu, 0.1% Zn, 57 g/t Ag and 0.2 g/t Au over 6 meters as well as 2.3% Cu, 2.6% Zn, 64 g/t Ag and 0.2 g/t Au over 16 meters including 3.5% Cu, 3.0% Zn, 93 g/t Ag and 0.3 g/t Au over 2 meters. 2011 ended on a good note as 10 diamond drill holes for a total of 1,200 meters were drilled to further delineate mineralization at depth on Langlade.
Cartier starts 2012 with over $5.5M in working capital. Its 2012 exploration programs will focus on advancing projects towards a resource base with over 70% of its budget devoted to drilling. A second phase of drilling at Langlade as well as additional target generating ground geophysics along extensions of the Langlade mineralized zone. Additional exploration potential was outlined to the east by reconnaissance glacial till sampling. A broad 225 square kilometer area hosts several distinct gold anomalies grading up to 13 g/t Au in Till.
An example of an earlier stage project for Cartier would be Dollier located south of the town of Chibougamau in Quebec. Work has focussed almost exclusively on the initial find, ie the Main Gold Zone. To date geophysics, trenching, and two phases of drilling have outlined a gold-bearing shear zone. Surface sampling returned up to 9.17 g/t Au over 1.1 metre and 7.94 g/t Au over 1.0 metre, then drilling at depth confirmed the grades with intersection grading 11.92 g/t Au over 1.0 metre within a wider zone of 1.07 g/t Au over 13.25 metres and 13.51 g/t Au over 1.20 metre within a wider zone of 0.46 g/t Au over 47.80 metres. Cartier’s work has identified a distinct vector for gold enrichment plunging steeply towards the west beneath the surface discovery as well as a new gold-bearing trend in a parallel structure situated 100 meters north of the main zone.
Philippe Cloutier, President and CEO of Cartier reports that “The project has shown it’s potential to host grades greater than 10 g/t gold. Our objective now is to advance the project with additional drilling is to test for the potential for wider intersections at depth and open new areas for exploration” adding, “we are actively seeking a serious exploration partner to advance this project”.
There are fundamental reasons to follow Cartier and consider it a sound investment. It focuses its efforts in a region of north-eastern Canada known for a very productive mining history and where all projects are supported by cost reducing infrastructure and a pool of talented workers.
Cartier’s success stems from a highly experienced and dedicated exploration team with a successful track record of discovery. Future success will be based on the merging of modern sustainable development practices with traditional and innovative exploration techniques to capture the full potential of its discoveries. In this way Cartier aims to ensure growth and sustainability of the company for the benefit of all shareholders and employees.