Cartier cuts 7.7 g/t Au over 2.0 m in the VG Structure of the Chimo Mine Project
In This Article:
240305_Figure_Chimo Mine Project Drill Results
Highlights:
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New results from the VG Structure:
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7.7 g/t Au / 2.0 m including 13.5 g/t Au / 1.0 m
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4.7 g/t Au / 0.7 m
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VAL-D'OR, Quebec, March 05, 2024 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR, FSE: 6CA) (“Cartier or the Company”) announces the results of its ongoing drilling program (FIGURE 1) for the Chimo Mine Project (FIGURE 2). The project comprises the Chimo Mine and East Cadillac properties, the latter of which was acquired on April 7, 2022 and has not been explored by Cartier to date. Both properties are 100% owned by Cartier and are located 45 km east of the Val-d’Or mining camp.
The results were obtained in the VG Structure at a depth of 35 m and a distance of 275 m west of the VG Zone.
? The initial results from the current drilling program attest to the potential of a 15-kilometre segment of the Larder Lake–Cadillac faults corridor of the Chimo Mine Property, which contains resources*, deposits and numerous gold showings to be further explored ? commented Philippe Cloutier, President and CEO.
Table 1: Details of the new results
| Hole | Coordinates | Azimuth (°) / | From | To | Au | Length | Gold Zone | Gold Structure |
| Location: West Nordeau Sector – Confirmation of the VG Structure 275 m west of the VG Zone | ||||||||
| CH24-94 | 333253/5319894/350 | 160/-57 | 42.0 | 44.0 | 7.7 | 2.0 | - | VG |
| including | 42.0 | 43.0 | 13.5 | 1.0 | ||||
| CH24-95 | 182/-66 | 84.6 | 85.3 | 4.7 | 0.7 | |||
The widths of the mineralized intersections are presented as downhole lengths.
The true widths of the mineralized intersections are estimated at 70 to 75% of the reported core length interval.
Table 2: Details of the historical results
| Hole | Coordinates | Azimuth (°) / | From | To | Au | Length | Gold Zone | Gold Structure |
| Location: West Nordeau Sector – VG Structure | ||||||||
| W 90-08 | 333253/5319894/350 | 183/-80 | 59.2 | 61.0 | 14.5 | 1.8 | - | VG |
| including | 59.4 | 59.7 | 75.3 | 0.3 | ||||
The widths of the mineralized intersections are presented as downhole lengths.
The true widths of the mineralized intersections are estimated at 55% of the reported core length interval.
About the Chimo Mine Project:
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Positive PEA**, after tax: NPV5% of CA$388M and 21% IRR
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MRE*: 720,000 ounces of gold in Indicated Resources and 1,633,000 ounces of gold in Inferred Resources
* NI 43-101 Mineral Resources Estimate for Chimo Mine and West Nordeau Gold Deposits, Québec, Canada, Vincent Nadeau-Benoit, P.Geo., Alain Carrier, P.Geo., M.Sc. and Marc R. Beauvais, P.Eng., InnovExplo Inc., August 22nd, 2022.
** NI 43-101 Technical Report and Preliminary Economic Assessment for Chimo Mine and West Nordeau Gold Deposits, Chimo Mine and East Cadillac Properties, Quebec, Canada, Marc R. Beauvais, P.Eng., of InnovExplo Inc., Mr. Florent Baril of Bumigeme and Mr. Eric Sellars, P.Eng. of Responsible Mining Solutions, May, 29th, 2023.