Cartier Resources Begins Major Drilling at the Cadillac Project
Cartier Resources Launches Extensive Drilling Program
VAL-D’OR, Quebec — Cartier Resources Inc. ("Cartier") (TSXV: ECR) is excited to reveal that it has commenced a substantial 100,000-metre diamond drilling program on its Cadillac Project, a site wholly owned by the company. This project is strategically located within the rich Val-d’Or gold belt, known for its abundant mining and milling infrastructures, alongside a skilled workforce.
Philippe Cloutier, President and CEO, expressed his enthusiasm, stating, "This is the most extensive drilling program ever undertaken on Cadillac and a turning point for Cartier. Our goal is clear: to showcase Cadillac’s potential as a major gold camp. We believe this campaign will underscore the project's ability to enhance shareholder value significantly."
Elaborating further, Ronan Deroff, the Vice President of Exploration, added, "After thorough planning, supported by detailed structural modeling and AI-targeted exploration, we intend to expand known gold zones while exploring new high-potential locations. Our recent explorations have provided valuable insights, enabling us to pinpoint several regional targets that share geological similarities with existing zones, increasing our chances of new gold discoveries. Our ultimate aim is to fully unlock the high-grade gold potential along the impressive 15 km Cadillac Fault Zone, which is now under the management of one entity for the first time."
Three Key Highlights of the Drilling Campaign
Scope of the Campaign
This program marks the largest drilling initiative ever conducted at the Cadillac Project, encompassing:
- 100,000 meters of drilling executed over 18 months.
- A total of 600 drill holes with an average depth of 200 meters.
Areas of Focus
The drilling program will concentrate on:
- 67% dedicated to expanding known gold zones (Brownfield Growth).
- 33% geared towards exploring new grassroots targets (Greenfield Discovery).
Financial Backing
With a solid financial foundation, the program is fully backed by $11 million in cash reserves and is positioned debt-free.
Technical Oversight
The scientific and technical information conveyed in this announcement has been thoroughly prepared and reviewed by Ronan Déroff, P.Geo., M.Sc., Vice President Exploration and a "Qualified Person" as outlined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
Insights into the Cadillac Project
The Cadillac Project spans 14,000 hectares along the Cadillac Fault, representing one of the largest consolidated land holdings within the Val-d’Or mining camp. This flagship asset encompasses the historic Chimo Mine and East Cadillac projects, solidifying Cartier's dominant position in this world-class gold mining district.
With exceptional road accessibility, year-round operational infrastructure, and nearby milling capabilities, the project is ideally placed to facilitate rapid advancement and create significant value.
A Preliminary Economic Assessment has shown the economic promise of a 2-kilometer segment of the project when considering a gold price of US$1,750 per ounce. This segment indicates an average annual gold output of 116,900 ounces across a 9.7-year mine lifespan, based on current resource estimates. Indicated resources are projected at 720,000 ounces (7.1 million tonnes at 3.1 g/t Au) and inferred resources at an impressive 1,633,000 ounces (18.5 million tonnes at 2.8 g/t Au).
About Cartier Resources Inc.
Founded in 2006 and headquartered in Val-d’Or, Cartier Resources Inc. specializes in gold exploration and is dedicated to fostering shareholder value through discovery and development in one of Canada’s prime mining regions. The Company amalgamates its robust technical expertise with a history of successful exploration alongside a fully funded development strategy for its signature Cadillac Project. Cartier’s clear goal is to unlock the immense potential of one of Quebec's largest undeveloped gold landholdings.
For further inquiries, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819-856-0512
Email: philippe.cloutier@ressourcescartier.com
Website: www.ressourcescartier.com
Frequently Asked Questions
What is the purpose of Cartier's new drilling program?
The drilling program aims to explore and expand gold zones at the Cadillac Project, highlighting its potential as a significant gold mining site.
How much funding has Cartier secured for this program?
Cartier has secured full funding of $11 million for the drilling program, which is crucial for its success.
Who oversees the technical aspects of the drilling program?
Ronan Déroff, Vice President Exploration, is responsible for overseeing the technical aspects and ensuring adherence to industry standards.
What is the size of the Cadillac Project?
The Cadillac Project encompasses 14,000 hectares, representing one of the largest land holdings in the Val-d’Or region, rich in gold resources.
How does Cartier plan to unlock the potential of its assets?
Through extensive exploration, strategic planning, and the deployment of advanced technologies, Cartier aims to maximize the value of its assets in the Cadillac Project.
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