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  • Volume 28074

Chimo Mine Project

The recent acquisition of the West Nordeau deposit, within 450 m of the resources of the Chimo Mine property, made it possible to integrate all of the resources with common characteristics with a reasonable prospect of possible economic extraction. The mineralization of the Chimo Mine Gold System consists of 28 gold zones that are part of 19 gold structures, themselves grouped into 3 gold corridors.  The NI 43-101 resources in effect as of August 22, 2022 for this gold system, combining the resources of the Chimo Mine property with those of the West Nordeau deposit, are presented below.

Highlights:

 The new resource estimate consists of (FIGURE):

  •    7,128,000 tonnes at an average grade of 3.14 g/t Au for a total of 720,000 ounces of gold in the Indicated category and;
  •  18,475,000 tonnes at an average grade of 2.75 g/t Au for a total of 1,633,000 ounces of gold in the Inferred category.

Highlights

UPDATE in progress : October 12th, 2022

Project

Chimo Mine

Status

Exploration drilling to delineate extensions of several gold zones of the property and explore the potential to discover new gold zones

Commodity

Au

Location

50 km SE of Val-d’Or, Qc
NTS map sheet 32C03
Vauquelin Township
Latitude: 48°00’42’’ N (5 320 038 UTM N)
Longitude: 77°15’10’’ W (331 995 UTM E)

Mining titles

The property consists of 599 contiguous claims covering an area of 29,523 hectares.

Property rights

The property is held 100% by Cartier Resources Inc.

Royalties

Various NSR applicable to certain mining titles constituting the property.

Key points

On April 21st, 2022 Closing of a transaction with O3 Mining

Highlights: Consolidation of Cartier’s Chimo Mine property with O3 Mining’s East Cadillac property for a total land position of 29,523 hectares of highly prospective ground in the eastern part of the prolific Val-d’Or gold camp (the “Project”).

Advantages: Eliminates boundaries, increases resource and potential for additional ounces, Increased flexibility to strengthen project economics and favor project development and its construction:

The recent acquisition of the West Nordeau deposit, within 450 m of the resources of the Chimo Mine property, made it possible to integrate all of the resources with common characteristics with a reasonable prospect of possible economic extraction. The mineralization of the Chimo Mine Gold System consists of 28 gold zones that are part of 19 gold structures, themselves grouped into 3 gold corridors.  The NI 43-101 resources in effect as of August 22, 2022 for this gold system, combining the resources of the Chimo Mine property with those of the West Nordeau deposit, are presented below.

Highlights:

The new resource estimate consists of (FIGURE):

  •    7,128,000 tonnes at an average grade of 3.14 g/t Au for a total of 720,000 ounces of gold in the Indicated category and;
  •  18,475,000 tonnes at an average grade of 2.75 g/t Au for a total of 1,633,000 ounces of gold in the Inferred category.

 

As of October 2022, work in progress, with the objective to increasing the resources, are as follows:

  • A drill program in progress on the Chimo Mine Gold System (FIGURE), with a dimension known to date of 3.7 km x 1.6 km, which includes the recent acquisition of the West Nordeau and et West Simon deposits;
  • Preliminary Economic Study NI 43-101 (”PEA”) underway on the combined resources of the Mine Chimo property and the West Nordeau deposit which will provide increased flexibility to further strengthen the economics of the Mine Chimo project;
  • Integration of the results of the industrial sorting tests of Corem and Steinert US which increase by 170% the grade of the mineralization of the Chimo Mine property;
  • Evaluation of the potential of the gold intersections discovered to date peripheral to the Chimo Mine Gold System over a length of 10 km along the Larder Lake – Cadillac fault.

Documents

Main results
Other documents
  • 3D Model - September 25th 2013 (For assistance in visualization of the 3D model, contact us !) Download
  • Chimo Mine project presentation Download
  • Factsheet project Chimo Mine Download
  • 221012_43-101 MRE4 - Chimo Mine and West Nordeau Deposit Download
Externals documents
  • Chimo mine project video See

Photos

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