Cartier Resumes Drilling on the Chimo Mine Property
13 May 2020 - 10:15PM
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 PersonsThe 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
ControlThe 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.
For more information, please contact:Philippe Cloutier, P.
Geo.President and CEO Telephone: 819
856-0512philippe.cloutier@ressourcescartier.comwww.ressourcescartier.com
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adequacy or accuracy of this press release.
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