Cartier Acquires Additional Strategic Ground in Southern Labrador Trough-Expands Gagnon Holdings by 70%
February 20 2013 - 6:00AM
Marketwired Canada
Cartier Iron Corporation (CNSX:CFE) ("Cartier Iron" or the "Company"), formerly
Northfield Metals Inc., is pleased to announce that it has staked new mineral
claims in the southern Labrador Trough, increasing the area of its recently
optioned Gagnon Holdings by 70%. A total of 264 claims covering 140 km2 were
staked in order to consolidate its land position and ensure room for potential
development infrastructure.
The newly acquired claims border the Penguin Lake, Black Dan and Aubrey-Ernie
properties, which have been amalgamated, along with the new claims, into the
new, contiguous Round Lake Property (Figure 1). The Gagnon Holdings are
currently under option pursuant to an option and joint venture agreement with
Champion Iron Mines Limited that originally encompassed 7 distinct blocks of
claims covering 204 km2 in the Gagnon Terrane of the southern Labrador Trough.
The Gagnon Holdings now comprise 5 distinct claim blocks covering 344 km2 (Table
1).
Table 1: Summary of Gagnon Holdings; Cartier Iron Corp.
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Property # of Claims Area (km2)
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Aubertin-Tougard 52 27.59
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Jeannine Lake 13 6.92
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Round Lake (formerly Aubrey-Ernie, Penguin
Lake & Black Dan properties) 519 274.66
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Silicate-Brutus 56 29.75
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Three Big Lakes 9 4.77
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Totals 649 343.69
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Paul Ankcorn, Cartier Iron's President, remarked, "Although the Company is
prioritizing its on-going drill program to delineate iron resources on the
Penguin Lake Project, it will continue to be proactive on its other prospective
holdings in the southern Labrador Trough. The acquisition of the new ground and
the amalgamation of a number of former discrete claim-blocks is a positive step
towards enhancing the value of the Company's iron portfolio from both a
potential resource size and strategic land position standpoint."
About Cartier Iron Corporation
Cartier Iron is an exploration and development Company focused on discovering
and developing significant iron ore resources in eastern Canada, particularly in
the provinces of Quebec. The Company's projects include the Gagnon Holdings in
the Cote-Nord Region of east-central Quebec, and the Borel River Prospect in the
Nunavik Region of northern Quebec.
The technical information in this news release was prepared John Langton, P.
Geo., a Director of the Company and a Qualified Person under National Instrument
43-101 standards.
Please visit Cartier Iron's website at www.cartieriron.com.
Statements in this release that are not historical facts are "forward-looking
statements" and readers are cautioned that any such statements are not
guarantees of future performance, and that actual developments or results, may
vary materially from those in these "forward-looking statements.
To view Figure 1: Claim Map of Gagnon Holdings; Cartier Iron Corp., please visit
the following link: http://media3.marketwire.com/docs/CFEFigure1.pdf.
FOR FURTHER INFORMATION PLEASE CONTACT:
Cartier Iron Corporation
Paul Ankcorn
President & Director
(416) 360-8006
Cartier Iron Corporation
Jorge Estepa
Vice-President
(416) 360-8006
www.cartieriron.com
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