Cartier reports additional high grade intercepts at Chimo, Quebec.

Posted on by

   Cartier Resources Inc. {TSX-V: ECR}

Reported additional drill hole intersections grading 23.3 g/t Au over 2.0 m included within 6.6 g/t Au over 13.0 m and 7.8 g/t Au over 3.0 m on the Chimo Mine project is situated 45 Km east of Val-d’Or.

The results, intersected at a depth of 1,100 m

.

/

.

.

Cartier Cuts 6.6 g/t Au over 13.0 m Along Depth Extension of Zone 6N1

Doubling Resource Potential Near Mine Infrastructure

 

Highlights:

 

  • 23 g/t Au over 2.0 m included within 6.6 g/t Au over 13.0 m and 7.8 g/t Au over 3.0 m, were intersected 450 m below previously announced Zone 6N1 drill results.

 

  • The resultsextend the potential for additional resourcesfor the Zone 6N1 to a depth of 1,100 m.

 

  • The intersections are from two drill holes, 50 m apart, anddemonstrate the continuity of gold mineralisation in the deepest expression of Zone 6N1 known to date.

 

  • Zone 6N1,proximal to underground infrastructure, could be rapidly accessible at low costvia additional mine development.

 

  • The newresource potential of Zone 6N1is in addition to theresource potential leftover from mine closureas well as to theresource potential developed up to 1,6 km depth below the Chimo Mine workings along Zones 5.

 

Val-d’Or, November 27, 2018 –Cartier Resources Inc. (TSX-V: ECR) reports additional drill hole intersections grading23.3 g/t Au over 2.0 m included within 6.6 g/t Au over 13.0 m and 7.8 g/t Au over 3.0 mon the Chimo Mine project is situated 45 Km east of Val-d’Or.

.

The results, intersected at a depth of 1,100 m, extend the Zone 6N1 resource potential an additional 450 m (FIGURE). Zone 6N1, which is 80 m from the underground infrastructure (FIGURE), could be quickly accessible and at low cost with additional mining development work.

 

The intersections are from two boreholes that are 50 m apart, demonstrating the continuity of the values and the lengths of gold intersections at depth of Zone 6N1. The Zone, which begins at the surface, is continuous at least to a depth of 1,100 m with a high probability of continuing as deep (1.6 km) as seen with Zone 5 below Chimo Mine.

 

“These results show the quality of gold content and dimensions of the new potential of Zone 6N1.”commented Philippe Cloutier, President and CEO, adding, “this resource potential is in addition to the resource potential remaining within the underground infrastructure as well as that developed along Zones 5 to a depth of 1.6 km below the Chimo Mine sites.”

 

The details of the new results received from the laboratory are as follows:

Drill Hole From(m) To(m) Length           (m) Au(g/t) Gold Zone
CH18-48W 1,122.0 1,124.0 2.0 23.3 6N1
Included within 1,121.0 1,134.0 13.0 6.6
CH18-48 1,152.0 1,155.0 3.0 7.8
Included within 1,140.0 1,155.0 15.0 2.8

Lengths are expressed along drill core axis.  The true thickness was not determined.

 

The Phase II drilling program currently underway (August 28th 2018 press release) and is focused on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totalling 15,000 m.

 

The reader should view theYouTube VIDEO, available on Cartier’s website.  The 3D video helps visualise the different gold-bearing structures on the Chimo Mine property as well as key components that are the mine infrastructures, the gold-bearing zones, the gold intersection areas left un-mined as well as the main targets of the ongoing drill program. The gold structure and zone 6N1 is illustrated.

 

Chimo Mine Project Highlights

The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).

 

About Cartier

Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

.

 

Cartier Investment Highlights

The Corporation has a strong cash position with over $8 million in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.

  • Cartier’s strategy is to focus on gold projects that are relatively advanced with significant potential for resource expansion laterally and at depth.
  • The Corporation holds a portfolio of advanced stage exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
  • The Corporation is focused on advancing its four key projects through drill programs.  All of these projects were acquired at very reasonable valuations over the past few years.  All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.
  • The Chimo Mine project is a historic gold producer. Three other projects, namely Wilson, Benoist and Fenton, hold historic resource estimates.
  • In 2018, an ongoing program of 105 holes totalling 45,000 m aims to enhance the resource development potential at Chimo Mine.

 

 

 

 

 

 

 

 

 

.