Cartier Resources find gold potential in new zones at Chimo

Cartier Resources find gold potential in new zones at Chimo.

Philippe Cloutier, CEO and President of Cartier Resources {TSX.V: ECR} informed the market that following an interpretation of the zones 6 and 6B, in the south area of the Chimo property, two new gold bearing zones plus several areas of mineralization had been discovered.

A key factor is the similarity between the known Central Area and the new South Area zones.

Our comment

The Zone 6 area was in fact discovered in the 1980’s, but follow up drilling was delayed until 1995, two years before the mine closed due to low gold prices at the time.

Cartier Resources Inc.: Gold Potential of South Area of Chimo Mine Property

VAL-D’OR, QUEBEC – Sept. 23, 2014 – Cartier Resources Inc. (TSX.V: ECR) presents the gold potential in the South Area of the Chimo Gold Mine, that is presently closed. The Chimo Mine property is situated at the south-eastern extremity of the Val-d’Or Mining Camp in Quebec.

The compilation and interpretation of the historical data(1) indicates : i) two new gold-bearing zones, ii) the presence of several gold mineralized zones and iii) that several characteristics of the Central Area are found in the South Area.

Drilling results below un-mined zones have reported economic type intersections such as;

  • 15.5 g/t Au over 3.3 m (Zone 6)
  • 11.2 g/t Au over 3.5 m (Zone 6B)

The two new gold zones outlined by drilling reported intersections such as;

The discovery of Zone 6 was done in 1986. However, follow-up drilling and mining was delayed to 1995, just two years prior to mine closure. To this day there has been little exploration drilling in this area. The potential of the area is indicated by the presence of several characteristics seen in the Central Area gold mineralized zones (smoky quartz, free gold, graphite and structural setting).

“This area’s gold exploration and resource potential is similar to that of the Central Area” commented Philippe Cloutier, President and CEO, adding “the success of future work in this area could stem from drilling the direct extensions of the unmined gold zones as well as exploring the new gold zones and targets discovered along the prospective structures”.

The recent news releases on the Chimo Mine property presented the highlights of a yearlong compilation and interpretation of data. This information will be used outline the overall potential and various alternatives to advance the project.

Quality Assurance / Quality Control

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D., and Vice President for Cartier. Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

  • The data referred to in this press release was produced by Chimo Gold Mines Ltd, Société Minière LOUVEM Inc. and CAMBIOR Inc. and as such were submitted to the QA/QC of those companies. The Cartier Resources QA/QC process was limited to the compilation and interpretation of that data.

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

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