Cartier Resources Cuts 5.1 g/t Au over 6.0 m in Zone 5M4 at Chimo Mine
TSX VENTURE: ECR
VAL-D’OR, Quebec, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) ("Cartier") reports drill results grading 5.1 g/t Au over 6.0 m included within a 36.8 m section grading 2.1 g/t Au. in the Zone 5M4 of the Chimo Mine property, located 45 km east of Val-d'Or.
An intersection grading 3.7 g/t Au over 5.0 m included within a broader section of 26.2 m grading 1.8 g/t Au, were also obtained within Zone 5M4. The new results, which are situated at a depth of 600 m, are in addition to other mineralized intersections recently reported by Cartier (FIGURE) and within a 100-m radius of the new results. The potential of this area is open laterally and at depth. Zone 5M4 is located only 25 m from the 5NE Zone and 450 m from the existing underground infrastructure at this depth (FIGURE).
« The first part of the Phase III drilling, which will begin at the end of February 2019, will be concentrated peripheral to the recent results obtained from Zones 5M4 and 5NE» commented Philippe Cloutier, President and CEO.
The details of the new results received from the laboratory are as follows:
|Gold Zone||Gold Structure|
Lengths are expressed along drill core axis. The true thickness was not determined.
The Phase II drill program which will be completed by the end of February 2019, will have upgraded the peripheral gold zones to the main Zone 5B and 5M cluster at depths between 600 m and 1.1 km in addition to discovering Zone 5NE.
The reader should view the YouTube 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 main targets of the ongoing drill program.
Chimo Mine Project Highlights
- The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
- Cartier owns 100% interests of the property.
- Year-round access by road, proximal to 6 custom mills.
- Gold mineralized material was mined intermittently from 14 zones by 3 different producers.
- Mine infrastructure consists of a network of drifts distributed on 19 levels, connected by a 3-compartment shaft 965 m deep. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.
- Phase I and Phase II drilling, which will be completed by the end of February 2019, will have completed 100 drill holes for a total of 45,000 m since July 11, 2017. Phase III drilling will follow immediately without interruption.
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 $7.5M 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 have an exploration potential for rapid expansion.
- The Corporation holds a portfolio of 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.
Quality Assurance / Quality Control
All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the "Metallic Sieve" method.
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 Resources. Mr. Lavallière is a qualified person as defined by National Instrument 43-101.
|For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.