• TSX-V:ECR 0.2300 (0)
  • Volume 2975

Press releases



May 13, 2020

Cartier Resumes Drilling on the Chimo Mine Property

Highlights:

 

  • Drilling with two rigs resumes on the depth extension of Zones 5B4-5M4-5NE and 5CE discovery;

 

  • Concurrently, internal engineering studies and industrial sorting of mineralisation tests are progressing with the goal of increasing the resources.

 

 

Val-d’Or, May 13th, 2020 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces that it resumes its drill program on the Chimo Mine property, located 45 km east of Val-d’Or.  This follows the Quebec’s government confirmation that exploration activities can resume effective May 11th, 2020.

 

Cartier has implemented precautionary measures to monitor the health and safety of employees, contractors, consultants, suppliers and the community with respect to the COVID-19 situation.  The Company has adapted its operating procedures to comply with the recommendations of the Department of Public Health and Province’s Committee on Standards, Equity, and Occupational Safety (CNESST).

 

″ With a solid position of $5.5 million in cash, Cartier can pursue its drill program and internal engineering studies and industrial sorting of mineralisation tests with a goal of increasing the resource on the property ″ commented Philippe Cloutier, President and CEO.

 

Zones 5B4-5M4-5NE and 5CE, situated 450 m east of the underground infrastructures are being drilled reported excellent results in 2020 over a distance of 550 m below known zones.  This cluster of gold-bearing zones extends from surface to a depth of 1,300 m and now include the new Zone 5CE.  As well, internal engineering studies and tests of industrial sorting of the mineralisation are in progress in order to assess possibilities of cost reduction while increasing gold ounce recuperation, which in turn could contribute to increasing the mineral resource of the property.  The first internal engineering study was completed with positive conclusions.

 

 

About Chimo Mine Project

 

  • Cartier holds a 100% interest in the property for which 1% NSR (” Net Smelter Return ”) royalty has been granted to IamGold Corporation. No rights of first refusal (” buy-back ”) have been granted.

 

  • The property, which is accessible year-round, is located near 6 mills in the Val-d’Or area.

 

  • Fourteen gold zones were exploited by 3 producers between 1964 and 1997 for a production of 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).

 

  • The mining infrastructure consists of a network of drifts over 7 km, distributed over 19 levels and connected by a 5.5 m x 1.8 m with 3 compartment shaft for a depth of 920 m. The headframe and the surface installations were dismantled in 2008 but the 25 kV power line and the sandpit are still in place.

 

  • The drilling, completed to date by Cartier on the Chimo Mine property, consists of 121 holes totaling 55,890 m and 20,792 gold samples collected. This work demonstrated the continuity of the main 5B and 5M gold zones under the existing mining infrastructure, explored the extensions of 19 gold zones peripheral to the main zones and explored the extensions of the 7 gold zones that were prioritized; which allowed the discovery of the Zones 5B4-5M4-5NE and 5CE and to develop the potential of Zone 6N1.  These areas have excellent potential to deliver future discoveries.

 

 

Qualified Persons

 

The scientific and technical information of the Company and the Chimo Mine Project, included in this news release, have been prepared and reviewed by MM. Gaétan Lavallière, P. Geo., Ph. D., Vice President and Ronan Déroff, P. Geo, M. Sc., Senior Geologist, Project Manager and Geomatician, Qualified Persons as defined by NI 43-101.  Mr. Lavallière approved the information contained in the press release.

 

 

Quality Assurance / Quality Control

 

The analytical results, derived from Cartier’s drilling, were obtained from samples measured along the drill core.  The estimated true thickness averages about 65% to 85% of the measured apparent length. NQ core samples are crushed up to 80% passing an 8 mesh and then pulverized up to 90% passing a mesh of 200 mesh.  Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of blank 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 read by atomic absorption, followed by gravimetry for results above 5.0 g/t Au. For samples containing visible gold, 1000 g of rock are analyzed by the ” Metallic Sieve ” method.

 

 

About Cartier Resources Inc.

 

Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec.  The province has consistently ranked as one of the best mining jurisdictions in the world, primarily because of its favorable geology, attractive fiscal environment and pro-mining government.

 

  • The company has a strong cash position with more than $5.5 million, as well as a significant corporate and institutional endorsement including Agnico Eagle Mines and Quebec investment funds.

 

  • Cartier’s strategy is to focus on gold projects with features that offer the potential for rapid growth.

 

  • The Company holds a portfolio of exploration projects located in the Abitibi Greenstone Belt in Quebec; one of the most prolific mining regions in the world.

 

  • The company is focused on advancing its 4 key projects through drilling programs. All of these projects were acquired at reasonable costs in recent years. All are drill-ready with targets along the geometric extension of known gold deposits.

 

  • Exploration work is currently focused on the Chimo Mine property to maximize value for investors. The preparation of the next exploration work is underway to carry out drilling programs respectively on the Benoist, Fenton and Wilson properties.

 

 

-30-

 

 

For more information, please contact:

Philippe Cloutier, P. Geo.

President and CEO

Telephone: 819 856-0512

philippe.cloutier@ressourcescartier.com

www.ressourcescartier.com

 
 

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


Document(s)

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