Cartier cuts 13.2 g/t Au over 2.3 m in the VG Zone of the Chimo Mine Project
In This Article:
Cartier Resources Inc.
Highlights:
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New results from the VG Zone:
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13.2 g/t Au / 2.3 m including 46.1 g/t Au / 0.5 m
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7.5 g/t Au / 2.0 m including 20.6 g/t Au / 0.5 m
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VAL-D’OR, Quebec, March 12, 2024 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSXV: 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. Cartier began exploring this new area of the project in 2024. 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 Zone at depths of 35 and 45 m, respectively. High gold grades are also present 275 m to the west and 550 m to the east of the VG Zone, defining the VG Structure along a strike length of 850 m.
? This third set of high-grade results from the VG Structure since August 2023 puts us on track to start a new drilling phase on the VG Zone to further increase its size and continue the search for other gold zones along the prospective 15 km strike of the project ? commented Philippe Cloutier, President and Chief Executive Officer.
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 Gold Zone | ||||||||
| CH24-97 | 333540/5319781/349 | 227/-79 | 47.0 | 49.3 | 13.2 | 2.3 | VG | VG |
| including | 48.3 | 48.8 | 46.1 | 0.5 | ||||
| CH24-98 | 145/-58 | 40.5 | 42.5 | 7.5 | 2.0 | |||
| including | 41.0 | 41.5 | 20.6 | 0.5 | ||||
The widths of the mineralized intersections are presented as downhole lengths.
The true widths of the mineralized intersections are estimated at 55% to 70% 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 – Confirmation of the VG Gold Zone | ||||||||
| CH23-93 | 333527/5319849/351 | 164/-45 | 97.7 | 100.7 | 15.7 | 3.0 | VG | VG |
| including | 99.7 | 100.2 | 75.9 | 0.5 | ||||
| CH23-88 | 183/-47 | 93.0 | 94.0 | 14.2 | 1.0 | |||
| CH23-92 | 166/-51 | 107.5 | 109.5 | 6.4 | 2.0 | |||
| CH23-84 | 197/-68 | 118.5 | 119.3 | 10.7 | 0.8 | |||
| NW08-12 | 333526/5319848/352 | 176/-77 | 132.7 | 133.3 | 18.8 | 0.6 | ||
The widths of the mineralized intersections are presented as downhole lengths.
The true widths of the mineralized intersections are estimated at 75% to 95% 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