Cartier Resources Inc. {TSX.V: ECR}
Announced that it is launching an expanded and potentially “game changer” Phase II drill program on its Chimo Mine project, located 45 km east of Val-d’Or, Quebec.
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CARTIER RAMPS UP EXPANDED CHIMO MINE DRILL PROGRAM
Val-d’Or, August 28th, 2018 – Cartier Resources Inc. {TSX.V: ECR} announces that it is launching an expanded and potentially “game changer” Phase II drill program on its Chimo Mine project, located 45 km east of Val-d’Or, Quebec.
Cartier President and CEO Philippe Cloutier says the Chimo Mine project Phase II drill program, which began on August 22nd, has been expanded by an additional 40 holes totalling 13,000 m, to a total of 105 drill holes for a total of 45,000 m.
Results from Phase I drilling has led our team to design a Phase II program focused on mineralization that we believe is the tipping point for the Chimo Mine project” commented Philippe Cloutier, President and CEO of Cartier. “Additional drilling on newly discovered gold mineralization proximal to the shaft is a game changer for the project”.
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Cartier has a strong balance sheet with over $10 million on hand and a robust new program that continues to add value at the Chimo Mine project.
Phase II drilling is designed to verify, between 600 m and 1000 m depth, continuity of mineralization in 7 of the 23 gold zones currently with the greatest potential for increasing project gold resource (FIGURE). Phase II of the drilling program is expected to continue until spring 2019.
Phase I of the drilling program, which began on July 11, 2017, was completed on August 21, 2018. This phase, consisting of 66 holes totaling 32,000 m, explored the extensions of the 23 gold zones on the property. Two deep boreholes totaling 10,000 m intersected 18 times the cluster of 4 main gold zones between 950 m and 1,525 m depth; in the extension of the sites of the former Chimo mine. Another 22,000 m was drilled at shallower depths exploring the extensions of the 19 peripheral gold zones at the main sites of the old mine.
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Note that there are over 3,500 samples (30%), from Phase I drilling pending at this date.
The reader should view the 3D VIDEO, available on Cartier’s website. The 3D video helps visualize 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 unmined as well as the 281 targets of the ongoing drill program.