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Val-d’Or, August 16, 2022 – Cartier Resources Inc. (TSX.V: ECR) (“Cartier”) announces the launch of the fourth phase of drilling at the Chimo Mine Project, located 45 km east of Val-d’Or. This program, planned with 2 drills over a period of 13 months, consists of 25,000 m of controlled directional drilling. 

The program aims at increasing the resources of the Chimo Mine Project and the Nordeau Ouest deposit, as well as the potential to discover new gold zones ( See figure 1).

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Highlights :

• Fourth phase, 25,000 m drill program in progress at theChimo Mine Gold System(FIGURE1) which includes the recent acquisition of the Nordeau West deposit;

• NI 43-101 Resource Estimate in progress for Nordeau West deposit, situated 450 m from the Chimo Mine Project NI 43-101¹resources;

• NI 43-101 Preliminary Economic Assessment (‘’PEA’’) in progress on the combined resources of the Mine Chimo Project and Nordeau West deposit that will provide increased flexibility to further strengthen the economics of the Chimo Mine Project.

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The recent acquisition of the East Cadillac project integrates all the gold intersections discovered to date form the Chimo Mine Gold System, which is currently known to extend over a distance of 10 km along the Larder Lake – Cadillac fault.

The current drilling program explores a 3.7 km segment peripheral to the underground infrastructures of the Chimo Mine, closed at the beginning of 1997 (FIGURE 1).

Philippe Cloutier, President and CEO of Cartier Resources commented.

“Drilling will intersect 4 of the 19 targeted gold-bearing structures at approximately 100 different locations within the Chimo Mine Gold System, as well as additional structures that could reveal new gold-bearing zones.”

Surveying of Nordeau West drill holes in July 2022, along with the NI 43-101 Resource Estimate of the deposit, will optimize the position of the drill holes in order to increase the resources over the first 800 m depth.

The results of this work will be used to design the drilling pattern at depth below the 800 m, which holds significant discovery potential (See HERE).

The results of efforts deployed primarily on work for the drill program and resource estimates were aimed at being rapidly integrated in the preliminary economic studies of the Chimo Mine Project to demonstrate its economic viability.

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

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.Disclosure

The writer currently holds no shares in Cartier Resources.

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