Cartier Cuts 16.5 g/t Au over 4.5 m at Chimo Mine 500 m below the New Zones 5B4-5M4-5NE
May 28 2020 - 7:30AM
Cartier Resources Inc. (TSX-V: ECR) ("Cartier") announces values of
32.0 g/t Au over 2.0 m included within
16.5 g/t Au over 4.5 m, also included within
7.1 g/t Au over 12.1 m, intersected at a distance
of
500 m below the new
Zones
5B4-5M4-5NE of the Chimo Mine Property, located 45 km east
of Val-d'Or.
"These new results indicate that the gold
mineralisation is open in all directions below Zones
5B4-5M4-5NE which have been drilled to
date from surface to a depth of 1,300 m" commented Philippe
Cloutier, President and CEO, adding "growing the dimensions of the
cluster of Zones 5B4-5M4-5NE is an important
addition to the development potential of the project."
The details of the new results are as
follows:
Drill Hole |
Drill Hole CollarCoordinate (m)UTM
(E/N/Elev.) |
Azimut (°) /Dip (°) |
From(m) |
To(m) |
Length(m) |
Au(g/t) |
GoldZone |
GoldStructure |
CH19-55B |
332529/5320363/-518 |
200 / -66 |
1,321.5 |
1,323.5 |
2.0 |
32.0 |
5NE |
5N |
Included in |
1,319.0 |
1,323.5 |
4.5 |
16.5 |
Included in |
1,317.4 |
1,329.5 |
12.1 |
7.1 |
CH19-54 |
332674/5320415/381 |
200 / -82 |
1,152.0 |
1,160.0 |
8.0 |
1.4 |
CH19-54BW |
332577/5320163/-459 |
199 / -49 |
1,181.0 |
1,190.5 |
9.5 |
1.1 |
5CE |
5C |
The lengths of the mineralized intersections are
expressed in lengths measured along the drill core. The
estimated true thickness of the mineralized intersections
represents approximately 85 to 90% of the measured length.
Recall that, on May 5th 2020, using a price of gold of 1,300 $
US / oz and a cut-off grade of 2.5 g/t Au, the Chimo Mine property
now hosts mineral resources of (FIGURE):
Gold CorridorsCut-off
Grade2.5 g/t Au |
Indicated Resources |
Inferred Resources |
MetricTonnes (t) |
Grade (g/t Au) |
Troy Ounce(oz) |
MetricTonnes (t) |
Grade (g/t
Au) |
Troy Ounces (oz) |
Central (1) |
3,263,300 |
4.40 |
461,280 |
3,681,600 |
3.53 |
417,250 |
North (2) |
505,300 |
5.35 |
86,860 |
715,700 |
4.59 |
105,710 |
South (2) |
249,000 |
4.63 |
37,060 |
480,600 |
4.84 |
74,840 |
Total |
4,017,600 |
4.53 |
585,190 |
4,877,900 |
3.82 |
597,800 |
Note 1 : Cartier Files NI 43-101 Technical
Report on SEDAR for First Mineral Resource Estimate of the Central
Gold Corridor on the Chimo Mine Property, GéoPointCom Inc.
(2019)Note 2 : Cartier Increases Gold Resources of
the Chimo Mine Property, InnovExplo Inc., May 5 2020
Zones 5B4-5M4-5NE and
5CE, situated 450 m east of the underground
infrastructures are being drilled in order to increase the resource
over a distance of 550 m below known zones. The length of
this cluster of gold-bearing zones is known over 1,300 m.
As well, internal engineering studies and tests
of industrial sorting of the mineralization are in progress in
order to assess possibilities of cost reduction while increasing
gold ounce recuperation, which in turn could contribute to
increasing the mineral resource of the property. The first
internal engineering study was completed with positive
conclusions.
About Chimo Mine Project
- Cartier holds a 100% interest in the property for which 1% NSR
('' Net Smelter Return '') royalty has been granted to IamGold
Corporation. No rights of first refusal ('' buy-back '') have
been granted.
- The property, which is accessible year-round, is located near 6
mills in the Val-d'Or area.
- Fourteen gold zones were exploited by 3 producers between 1964
and 1997 for a production of 379,012 ounces of gold (MERN DV 85-05
to DV-97-01).
- The mining infrastructure consists of a network of drifts over
7 km, distributed over 19 levels and connected by a 5.5 m x 1.8 m
with 3 compartment shaft for a depth of 920 m. The headframe
and the surface installations were dismantled in 2008 but the 25 kV
power line and the sandpit are still in place.
- The drilling, completed to date by Cartier on the Chimo Mine
Property, consists of 121 holes totaling 55,890 m and
20,792 gold samples collected. This work
demonstrated the continuity of the main 5B and 5M gold
zones under the existing mining infrastructure, explored
the extensions of 19 gold zones peripheral to the main zones and
explored the extensions of the 7 gold zones that were prioritized;
which allowed the discovery of the Zones
5B4-5M4-5NE and 5CE and to develop the
potential of Zone 6N1. These areas have
excellent potential to deliver future discoveries.
About Cartier Resources
Inc.
Cartier Resources Inc., founded in 2006, is
based in Val-d'Or, Quebec. The province has consistently
ranked as one of the best mining jurisdictions in the world,
primarily because of its favorable geology, attractive fiscal
environment and pro-mining government.
- The company has a strong cash position with more than $
5.7 million, as well as a significant corporate and
institutional endorsement including Agnico Eagle Mines and Quebec
investment funds.
- Cartier's strategy is to focus on gold projects with features
that offer the potential for rapid growth.
- The Company holds a portfolio of exploration projects located
in the Abitibi Greenstone Belt in Quebec; one of the most prolific
mining regions in the world.
- The company is focused on advancing its 4 key projects through
drilling programs. All of these projects were acquired at
reasonable costs in recent years. All are drill-ready with
targets along the geometric extension of known gold
deposits.
- Exploration work is currently focused on the Chimo Mine
Property to maximize value for investors. The preparation of
the next exploration work is underway to carry out drilling
programs respectively on the Benoist, Fenton and Wilson
properties.
Qualified PersonsThe scientific
and technical information of the Company and the Chimo Mine
Project, included in this news release, have been prepared and
reviewed by MM. Gaétan Lavallière, P. Geo., Ph. D., Vice President
and Ronan Déroff, P. Geo, M. Sc., Senior Geologist, Project Manager
and Geomatician, Qualified Persons as defined by NI 43-101.
Mr. Lavallière approved the information contained in the
press release.
Quality Assurance / Quality
ControlThe analytical results, derived from Cartier's
drilling, were obtained from samples measured along the drill core.
NQ core samples are crushed up to 80% passing an 8 mesh and
then pulverized up to 90% passing a mesh of 200 mesh. Cartier
inserts 5% of the number of samples in the form of certified
standards and another 5% in the form of blank 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 read by
atomic absorption, followed by gravimetry for results above 5.0 g/t
Au. For samples containing visible gold, 500 g of rock are analyzed
by the '' Metallic Sieve '' method.
For more information, please
contact:Philippe Cloutier, P. Geo.President and CEO Telephone: 819
856-0512philippe.cloutier@ressourcescartier.comwww.ressourcescartier.com |
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https://www.globenewswire.com/NewsRoom/AttachmentNg/3aaaf27a-f93f-4e35-a320-fcd270346e1d
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