Cartier Resources drills two metres of 20.4 g/t Au at Chimo, Quebec

Cartier Resources Inc. (TSX.V: ECR)

Has drilled an interval of 20.4 grams per tonne gold over 2.0 metres included within 18.0 m at 2.7 g/t Au, intersected 200 m below the resources of zones 5B4, 5M4 and 5NE, which were estimated by GeoPointCom in 2019.

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Chimo Mine – Cartier Resources

 

 

CARTIER CUT 20.4 G/T AU OVER 2.0 M IN THE NEW ZONE 5CE AND 11.9 G/T AU OVER 1.6 M IN ZONE 5B4 AT CHIMO MINE

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2020-08-25 07:36 ET – News Release.

Cartier Resources Inc. has drilled an interval of 20.4 grams per tonne gold over 2.0 metres included within 18.0 m at 2.7 g/t Au, intersected 200 m below the resources of zones 5B4, 5M4 and 5NE, which were estimated by GeoPointCom in 2019. The Chimo mine property is held 100 per cent by Cartier and is situated 45 kilometres east of the Val d’Or mining camp.

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An intersection grading 11.9 g/t Au over 1.6 m, included within a mineralised intersection of 14.6 m at 3.1 g/t Au, and an intersection grading 7.5 g/t Au over 2.5 m, included within a mineralised intersection of 13.7 m at 3.2 g/t Au, were also intersected in zone 5B4. The results from the drilling campaign, which started in December, 2019, reveal numerous mineralised intersections over an area measuring 550 m by 200 m below zones 5B4, 5M4 and 5NE. The resources in this area will soon be estimated and added to the resources already published for the project.

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“The results from Cartier’s 124 drill holes totalling 58,054 m, along with the results of two completed internal engineering studies and two others still under way, have provided robust information which support our vision of potential scenarios for economic development,” commented Philippe Cloutier, president and chief executive officer.

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                            DETAILS OF NEW RESULTS

Drill hole                   From                 To            Length                Au
                              (m)                (m)               (m)             (g/t)

CH19-54D                  1,153.0            1,155.0               2.0              20.4
included in               1,137.0            1,155.0              18.0               2.7
CH19-55CE                 1,334.0            1,335.6               1.6              11.9
included in               1,321.0            1,335.6              14.6               3.1
CH19-55C                  1,328.7            1,331.2               2.5               7.5
included in               1,322.0            1,335.7              13.7               3.2
CH19-54CW                 1,043.0            1,048.0               5.0               2.8
CH19-55BW                 1,362.0            1,367.0               5.0               2.0
CH19-55C                  1,287.0            1,294.6               7.6               1.4

The lengths of the mineralised intersections are expressed in lengths measured along the 
drill core. 
The estimated true thickness of the mineralised intersections represents approximately 
80 to 90 per cent of the measured length.
  
        BEST RESULTS FROM THE DRILLING CAMPAIGN IN THE EAST 
           SECTOR BETWEEN DECEMBER, 2019, AND JUNE, 2020 

Drill hole            High-grade interval                 Full interval  
                        Au         Length             Au         Length
                     (g/t)            (m)          (g/t)            (m)

CH19-55B*             32.0            2.0            7.1           12.1
CH19-55B*             20.8            4.0            6.7           16.0
CH19-55*              22.0            2.0            7.1           11.5
CH19-54B*              5.0           10.9            2.5           26.1
CH19-55CE             11.9            1.6            3.1           14.6
CH19-55C               7.5            2.5            3.2           13.7
CH19-54*               7.0            2.0            2.6           16.1
CH19-54E*              9.5            2.0            2.0           15.8
CH19-54D              20.4            2.0            2.7           18.0
CH19-54E*             11.9            2.0            2.1           16.0

The lengths of the mineralised intersections are expressed in lengths 
measured along the drill core. 
The estimated true thickness of the mineralised intersections 
represents approximately 80 to 90 per cent of the measured length.
* Results disclosed in previous press releases.

               MOST RECENT MINERAL RESOURCE ESTIMATE FOR THE CHIMO MINE PROPERTY 
         USING A GOLD PRICE OF $1,300 (U.S.) PER OUNCE AND A CUT-OFF GRADE OF 2.5 G/T AU

Gold corridors                     Indicated resources                         Inferred resources                
Cut-off grade    Metric tonnes      Grade  Troy ounces   Metric tonnes        Grade   Troy ounces
2.5 g/t Au                 (t)   (g/t Au)         (oz)             (t)     (g/t Au)          (oz)

Central              3,263,300       4.40      461,280       3,681,600         3.53       417,250
North                  505,300       5.35       86,860         715,700         4.59       105,710
South                  249,000       4.63       37,060         480,600         4.84        74,840
Total                4,017,600       4.53      585,190       4,877,900         3.82       597,800
  

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About the Chimo mine project:

  • Cartier holds a 100-per-cent interest in the property for which a 1-per-cent NSR (net smelter return) royalty has been granted to Iamgold. No rights of first refusal (buyback) have been granted.
  • The property, accessible year-round, is located near several mills in the Val d’Or area.
  • Fourteen gold zones were exploited by three producers between 1964 and 1997 for a production of 376,217 ounces of gold (MERN DV 85-05 to DV-97-01).
  • The mining infrastructure consists of a network of drifts over seven km, distributed over 19 levels and connected by a 5.5 m by 1.8 m three-compartment shaft for a depth of 914 m. The headframe and surface installations were dismantled in 2008, but the 25-kilovolt power line and sandpit are still in place.
  • Cartier’s drilling to date on the Chimo mine property consists of 124 holes totalling 58,054 m and 21,867 samples collected for gold analysis.

 

Qualified persons

The scientific and technical information of the company and the Chimo mine project included in this news release has been prepared and reviewed by Dr. Gaetan Lavalliere, PGeo, PhD, vice-president, and Ronan Deroff, PGeo, MSc, senior geologist, project manager and geomatician, qualified persons as defined by National Instrument 43-101. Mr. Lavalliere approved the information contained in the press release.

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Quality assurance/quality control

The analytical results, derived from Cartier’s drilling, were obtained from samples measured along the drill core. NQ core samples are crushed up to 80 per cent passing an eight mesh and then pulverized up to 90 per cent passing a mesh of 200 mesh. Cartier inserts 5 per cent of the number of samples in the form of certified standards and another 5 per cent in the form of blank samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boule, Que. 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, 500 grams of rock are analyzed by the metallic sieve method.

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About Cartier Resources Inc.

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

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   Andrew@city-investors-circle.com