Cartier cut 20.4 g/t Au over 2.0 m in the new Zone 5CE and 11.9 g/t Au over 1.6 m in Zone 5B4 at Chimo
Cartier Resources Inc. announces an interval of 20.4 g/t Au over 2.0 m included within 18.0 m at 2.7 g/t Au, intersected 200 m below the resources of Zones 5B4-5M4-5NE, which were estimated by GéoPointCom in 2019 (Table 1). The Chimo Mine Property is held 100% by Cartier and is situated 45 km east of the Val-d’Or mining camp.
An intersection grading 11.9 g/t Au over 1.6 m, included within a mineralized intersection of 14.6 m at 3.1 g/t Au, and an intersection grading 7.5 g/t Au over 2.5 m, included within a mineralized intersection of 13.7 m at 3.2 g/t Au, were also intersected in Zone 5B4. The results from the drilling campaign (Table 2), which started in December 2019, reveal numerous mineralized intersections over an area measuring 550 m by 200 m (FIGURE) below Zones 5B4-5M4-5NE. The resources in this area will soon be estimated and added to the resources already published for the project (Table 3).
“The results from Cartier’s 124 drill holes totalling 58,054 m, along with the results of two completed internal engineering studies and two others still underway, have provided robust information which support our vision of potential scenarios for economic development,” commented Philippe Cloutier, President and CEO.
Table 1: Details of new results:
Drill HoleUTM Coordinates
(E, N, Elev.)Azimuth (°) / Dip (°)From
(m)To
(m)Length
(m)Au
(g/t)Gold ZoneGold Structure
CH19-54D332637/5320279/-163185/-581153.01155.02.020.45CE5C
Included in1137.01155.018.02.7
CH19-55CE332527/5320277/-585189/-511334.01335.61.611.95B45B
Included in1321.01335.614.63.1
CH19-55C332555/5320429/-327198/-721328.71331.22.57.5
Included in1322.01335.713.73.2
CH19-54CW332627/5320190/-276185/-481043.01048.05.02.8
CH19-55BW332501/5320261/-671193/-511362.01367.05.02.0
CH19-55C332555/5320429/-327198/-721287.01294.67.61.45NE5N
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 80 to 90% of the measured length.
Table 2: Best results from the drilling campaign in the East Sector between December 2019 and June 2020 (FIGURE):
Drill HoleHigh Grade intervalFull intervalGold
ZoneGold
Structure
Au
(g/t)Length
(m)Au
(g/t)Length
(m)
CH19-55B*32.02.07.112.15NE5N
CH19-55B*20.84.06.716.05B45B
CH19-55*22.02.07.111.5
CH19-54B*5.010.92.526.1
CH19-55CE11.91.63.114.6
CH19-55C7.52.53.213.7
CH19-54*7.02.02.616.1
CH19-54E*9.52.02.015.8
CH19-54D20.42.02.718.05CE5C
CH19-54E*11.92.02.116.0
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 65 to 90% of the measured length.
* Results disclosed in previous press releases.
Table 3: Most recent mineral resource estimate for the Chimo Mine Property (FIGURE) using a gold price of US $1,300 per ounce and a cut-off grade of 2.5 g/t Au:
Gold Corridor
Cut-off Grade
2.5 g/t AuIndicated ResourcesInferred Resources
Metric Tons
(t)Grade
(g/t Au)Troy Ounces
(oz)Metric Tons
(t)Grade
(g/t Au)Troy Ounces
(oz)
Central (1)3,263,3004.40461,2803,681,6003.53417,250
North (2)505,3005.3586,850715,7004.59105,710
South (2)249,0004.6337,060480,6004.8474,840
Total4,017,6004.53585,1904,877,9003.82597,800
About Chimo Mine Project
- Cartier holds a 100% interest in the property for which a 1% NSR (“Net Smelter Return”) royalty has been granted to IAMGOLD Corporation. No rights of first refusal (“buy-back”) have been granted.
- The property, accessible year-round, is located near several mills in the Val-d’Or area.
- Fourteen gold zones were exploited by three producers between 1964 and 1997 for a production of 376 217 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 three-compartment shaft for a depth of 914 m. The headframe and surface installations were dismantled in 2008, but the 25 kV power line and sandpit are still in place.
- Cartier’s drilling to date on the Chimo Mine Property consists of 124 holes totalling 58,054 m and 21,867 samples collected for gold analysis.
About Cartier
Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec. The province of Quebec has consistently ranked as one of the best mining jurisdictions in the world, primarily because of its favourable geology, attractive fiscal environment and pro-mining government.
- The Company has a strong cash position with more than $13.9 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 potential for rapid growth.
- The Company holds a portfolio of exploration projects located in the Abitibi Greenstone Belt of Quebec, one of the most prolific mining regions in the world.
- The Company is focused on advancing its four key projects through drilling programs. All of these projects were acquired at reasonable costs in recent years, and are drill-ready with targets along the geometric extensions 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.
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