Cartier Resources Reports High-Grade Gold Intersections
Highlights:
- New high-grade gold mineralization identified in the VG10 Zone:
- 142.2 g/t Au over 0.5 m, part of a broader interval of 74.4 g/t Au over 1.0 m
- 137.4 g/t Au over 0.5 m, included within a larger section of 69.5 g/t Au over 1.0 m
- 24.1 g/t Au over 0.5 m
- 12.8 g/t Au over 0.5 m, part of an interval grading 8.0 g/t Au over 1.2 m
- The VG10 Zone is accessible from the surface, with 60% of drill holes encountering visible gold.
- New findings are located 280 m from the VG9 target along the VG Structure.
- An intersection grading 22.3 g/t Au over 1.0 m was found on a new structure just 50 m from the VG10 Zone.
- Further results from the Larder Lake - Cadillac Fault Zone will be pursued with an additional drill rig soon.
VAL-D’OR, Québec — Cartier Resources Inc. (TSXV: ECR) has announced the latest results from its ongoing drilling program at the Chimo Mine Project. This project includes the Chimo Mine and East Cadillac properties, both of which are fully owned by Cartier and strategically located 45 km east of the Val-d’Or mining camp.
The high-grade gold results from the VG10 Zone are particularly promising, indicating strong potential for further exploration and yields. Out of the 15 drill holes completed so far, 60% have revealed visible coarse gold clusters within sedimentary rocks, where gold concentrations are notably high.
The VG10 Zone, which begins at the surface, is situated 280 m from the VG9 Target along the New VG Structure. Importantly, the reported high-grade gold zones, along with the 22.3 g/t Au over 1.0 m intersection on a new structure 50 m south of the VG Structure, highlight a new area with significant discovery potential.
The ongoing drilling program is extensive, with 164 drill holes planned across 54 targets covering 10 of the 20 km strike length of the Larder Lake - Cadillac Fault Zone identified for this project.
The Company’s decision to deploy a second drill rig underscores its commitment to exploring new potential areas while following up on the high-grade results obtained thus far,” stated Cartier’s President and CEO.
About the Chimo Mine Project:
The Chimo Mine Project is based on a long-term gold price of US$1,750 per ounce, and assessments indicate a positive economic outlook with notable values for NPV and IRR:
- Positive Preliminary Economic Assessment (PEA), post-tax: NPV of CA$388M and IRR of 20.8%
- Current Mineral Resource Estimate (MRE): 720,000 ounces of gold in Indicated Resources and 1,633,000 ounces of gold in Inferred Resources.
Cartier Resources Inc. is well-positioned for growth and exploration within respected mining jurisdictions. Established in 2006, the company is actively advancing its flagship Chimo Mine Project while also seeking additional opportunities. The Company enjoys substantial backing from key corporate and institutional investors, bolstering its reputation and potential within the industry.
Quality Assurance / Quality Control:
To maintain quality control, Cartier incorporates certified standards and blanks for each batch of samples sent for analysis. The samples are carefully managed by Techni-Lab (Actlabs) laboratory in Quebec, where they undergo stringent testing methods that reflect the Company’s commitment to high standards in mineral evaluation.
Qualified Persons:
The scientific and technical information in this announcement has been reviewed by qualified persons, ensuring compliance with National Instrument 43-101 regulations.
For more information, 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 significant results were reported by Cartier Resources?
Cartier Resources reported high-grade gold intersections, including 142.2 g/t Au over 0.5 meters in the VG10 Zone.
How many drill holes showed visible gold?
Approximately 60% of the completed drill holes intersected visible coarse gold.
What is the economic potential of the Chimo Mine Project?
The project highlights a positive PEA indicating a net present value of CA$388 million and an internal rate of return of 20.8%.
What is the total resource estimate for the Chimo Mine Project?
The total mineral resource estimate includes 720,000 ounces in Indicated Resources and 1,633,000 ounces in Inferred Resources.
Who can be contacted for more information about Cartier Resources?
Philippe Cloutier, President and CEO, can be contacted via telephone or email for further details.
