Cartier cuts 11.0 g/t Au over 2.8 m in the EN2 Structure of the Chimo Mine Project
In This Article:
Highlights:
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New results from the EN2 Structure:
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11.0 g/t Au / 2.8 m including 17.9 g/t Au / 1.0 m
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VAL D'OR, Quebec, April 30, 2024 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSXV: ECR, FSE: 6CA) (“Cartier” or the “Company”) announces additional results from 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. Cartier began exploring this new part of the project in 2024. Both properties are 100% owned by Cartier and located 45 km east of the Val-d’Or mining camp.
The mineralized intervals, intersected 1.7 km southeast of the Chimo Mine resources*, occur within the EN2 Structure at a depth of 65 m.
Cartier’s President and CEO, Philippe Cloutier, commented, ? The 2024 drilling results (FIGURE 1) confirm the project’s potential for high-grade gold along a favourable trend measuring 2.4 km to date. ?
Table 1: Details of the new results
| Hole | Coordinates | Azimuth (°) / | From | To | Au | Length | Gold Structure | Gold |
| CH24-111 |
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| 75.8 | 78.6 | 11.0 | 2.8 | EN2 | East Nordeau |
| including | 77.0 | 78.0 | 17.9 | 1.0 | ||||
| CH24-111 | 62.5 | 65.0 | 4.4 | 2.5 | ||||
| including | 63.9 | 64.4 | 7.0 | 0.5 | ||||
| CH24-121 | 335500/5319271/353 | 186/-51 | 76.7 | 78.7 | 3.2 | 2.0 | EN2 | |
| including | 76.7 | 77.7 | 4.6 | 1.0 | ||||
| CH24-121 | 95.8 | 97.9 | 2.8 | 2.1 | ||||
| including | 95.8 | 96.3 | 4.6 | 0.5 | ||||
| CH24-126 | 335500/5319271/353 | 165/-66 | 92.9 | 94.9 | 3.2 | 2.0 | EN2 | |
| including | 93.4 | 93.9 | 8.0 | 0.5 | ||||
| CH24-118 | 335574/5319275/353 | 176/-77 | 130.9 | 136.0 | 1.6 | 5.1 | EN2 | |
| including | 130.9 | 131.4 | 5.5 | 0.5 | ||||
| CH24-107 | 334858/5319423/351 | 187/-62 | 44.0 | 46.0 | 3.6 | 2.0 | EN1 | Nordeau |
| including | 44.0 | 45.0 | 6.4 | 1.0 | ||||
| CH24-102 | 334423/5319307/350 | 173/-45 | 25.0 | 27.0 | 3.0 | 2.0 | 5N | West Nordeau |
| including | 25.0 | 26.0 | 5.5 | 1.0 |
The lengths of the mineralized intersections are expressed as measured lengths along the drill core.
The estimated true widths of the mineralized intersections are approximately 60% to 90% of the reported lengths.
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