Val-d’Or, March 12, 2024–Cartier Resources Inc.(TSXV: ECR) (“Cartier” or the “Company”) announces the results of its ongoing drilling program for the Chimo Mine Project (FIGURE  2).

The project comprises the Chimo Mine and East Cadillac properties, the latter of which was acquired on April 7, 2022.

Cartier began exploring this new area of the project in 2024.  Both properties are 100% owned by Cartier and are located 45 km east of the Val-d’Or mining camp.

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Highlights

The results were obtained in the VG Zone at depths of 35 and 45 m, respectively.  High gold grades are also present 275 m to the west and 550 m to the east of the VG Zone, defining the VG Structure along a strike length of 850 m.

Philippe Cloutier, President and Chief Executive Officer commented;

« This third set of high-grade results from the VG Structure since August 2023 puts us on track to start a new drilling phase on the VG Zone to further increase its size and continue the search for other gold zones along the prospective 15 km strike of the project »

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To read the full news release, please click HERE

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Highlights of press release(FIGURE 1):

New 5BW Gold Zone (‘’West Chimo Mine’’ Sector):

16.8 g/t Au / 1.0 m, 6.0 g/t Au / 1.0 m and 1.2 g/t Au / 16.0 m

New 6N1W Mineralized Zone (‘’West Chimo Mine’’ Sector):

13.2 g/t Au / 0.5 m and 6.0 g/t Au / 1.0 m within 42.0 m grading 0.9 g/t Au

New intersections increasing the dimension of gold zones of ‘’East Chimo Mine’’ Sector:

13.0 g/t Au / 1.0 m, 9.7 g/t Au / 1.0 m included in 6.5 g/t Au / 2.0 m

Two drills are currently operating on the property

Reminder of the highlights of project:

• Recentpositive Preliminary Economic Assessment*(FIGURE 2):
• Post-Tax NPV_5%of CAD$388M and 20.8% IRR

Longterm gold price of US$1,750/oz, Exchange rate of CAD $1.00 = US $0.77

Paybackperiod of 2.9 years and mine life of 9.7 years

Capex of CAD$341M, average all-in sustaining cost of US$755/oz

Averageannual production of 116,900 oz at a milled average of 4.6 g/t Au

• Recent Mineral Resource Estimate**(FIGURE 3):
• 720,000ounces of gold in the indicated resource category
• 1,633,000 ounces of gold in the inferred resource category

‘’West Chimo Mine’’ Sector(FIGURE 1):

• The New 5BW Gold Zone, that is comprised of values such as 16.8g/tAu/1.0m, 6.0g/tAu/1.0 m and 1.2 g/t Au / 16.0 m (PHOTO 1), is situated at 100 m west of Chimo mine drifts between depths of 75 m and 350 m (Table 1).  Two holes were drilled between depths of 150 m and 350 m, which assays are pending, in order to explore the vertical extension.

• The New 6N1W Mineralized Zone, is comprised of values such as 13.2g/tAu/ 0.5m and 6.0g/tAu/1.0 m included in 3.3 g/t Au / 5.0 m; all of which are included in a wider interval of 42.0m grading 0.9 g/t Au (PHOTO 2).  This new zone is situated only 50 m west of Chimo mine drifts between depths of 450 m and 600 m.  These drill hole results add to the historical results presented in table 2 below.  One drill hole is currently in progress in order to explore the vertical extension of the zone between depths of 600 m and 835m.

The geometry of the Chimo Mine Gold System should show a certain symmetry either side of the main mineralized sector of the project currently known as the ‘’Chimo Mine’’ Sector.  These first drill results, already suggest the development of a good discovery potential in the ‘’West Chimo Mine’’ Sector, which is situated proximal to the Chimo mine infrastructures and which have been little explored to date.

Val-d’Or, January 24^th, 2023 – Cartier Resources Inc. (TSX.V: ECR) (“Cartier”) announces drill results below the West Nordeau deposit of the Chimo Mine Gold System (FIGURE) from its ongoing drilling program on the Chimo Mine property and contiguous East Cadillac property. Both properties, 100% owned by Cartier, are located 45 km east of the Val-d’Or mining camp.

The results available from the laboratory to date for the current drilling in the West Nordeau Sector are as follows:

• In the eastern part of the West Nordeau deposit (5NE2 Gold Zone), drilling intersected 4g/t Au over 6.5 m included within broader sections grading 2.3 g/t Au over 23.0 m and 2.1 g/t Au over 14.0 m (FIGURE).

• In the western part of the West Nordeau deposit (5NE1 Gold Zone), drilling intersected 3g/t Au over 1.0 m included within an interval grading 2.4 g/t Au over 5.6 m (FIGURE)

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Philippe Cloutier, President and CEO of Cartier Resources commented;

“These results confirm the continuity of the mineralization below the West Nordeau deposit, with a view of extending exploration, to define additional resources to the same depth as in the Chimo Mine and East Chimo Mine sectors.

 

“The depth extension of the West Nordeau sector is important to add resources to the project. 

The Chimo Mine Project now consists of 29 gold zones that are situated within 19 gold structures, drilled over a strike length of 3.7 km and locally up to a depth of 1.6 km  where the recent mineral resource estimate, dated August 22, 2022*, reported:

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To read the full news release, please click HERE

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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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Disclosure

At the time of writing the author holds no shares in Cartier Resources.

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