Cartier Iron to Commence Diamond Drilling to Test Geophysical Targets for Low Sulphidation Epithermal Gold-Silver Mineralization Along Major Structures at the Big Easy Gold Project, Newfoundland 2,000m diamond drilling program to commence by the end of January to test new IP
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NEWS RELEASE
Cartier Iron to Commence Diamond Drilling to Test Geophysical
Targets for Low Sulphidation Epithermal Gold-Silver Mineralization
Along Major Structures at the Big Easy Gold Project, Newfoundland
2,000m diamond drilling program to commence by the end of January to test new IP
targets and Central Anomaly on major magnetic trends
54.5 line-kilometres of additional IP surveys to be completed on major target area in
southern part of claims
Toronto, Ontario, January 25, 2021 – Cartier Iron Corporation (CSE: CFE) (“Cartier Iron”),
is pleased to announce the start of a 2,000m, 7-hole diamond drill program at the Big Easy
Gold Project in Newfoundland to test new Induced Polarization (IP) targets (see press release
December 2, 2020) and follow-up drilling on the Central Anomaly where drilling in 2018
intersected a wide alteration zone which returned 0.11gAu/t and 2.65gAg/t over 180.4m (see
press release December 18, 2018). Table 1 gives a list of proposed hole locations. An
additional 54.5 line-kilometres of IP surveys will also be carried out to follow-up a major new
target area outlined in the southern part of the property.
Figure 1 is a map of the total magnetic intensity that shows the two major magnetic trends at
Big Easy. The West Trend extends north-northeast for 19 km and it is likely the southerly
extension of the Big Easy-Central Anomaly trend. The East Trend is approximately 2 km to
the east and is parallel to the West Trend extending southwards for more than 20 km. Figure
2 is a closeup map showing the locations of the planned drill holes in the new IP chargeability
anomalies on the Shoal Harbour Grid and the follow-up drilling on the Central Anomaly 5.5 km
to the north. The modelled chargeability is within and follows the strong magnetic trends.
Figure 3 shows the area of the planned additional IP survey lines.
Four (4) holes totalling 1,000 metres are planned to test significant chargeability anomalies on
the Shoal Harbour Grid. These anomalies are associated with resistivity lows flanking the
east and west contacts of a broad zone of higher resistivity. The east anomaly coincides with
the Au-in-soil geochemical peak reported in the press release of September 29, 2020. The
chargeability anomaly on the West Trend appears to be the southern extension of the ET
showing located 2.5km to the north. Historic drilling on the ET showing in 2017 intersected
anomalous gold and silver values in quartz veins but the new data place this showing at the
edge of the potential epithermal system. Two new holes and deepening of previously drilled
Hole BE-18-32 are planned collectively totalling 1,000 metres to test the core of the Central
Anomaly which is approximately 200m wide. Previous drilling was only on the west and east
edges of this anomaly which is under a bog.
Tom Larsen, Chief Executive Officer of Cartier Iron said: “We are pleased to proceed with this
drilling program to test the new IP targets and the Central Anomaly. The additional IP survey
lines will cover a promising target area outlined by our recent helicopter-borne magnetic
surveys. All of this data indicates the potential to find a large-scale gold mineralizing system.”
20 Adelaide Street East, Suite 200, Toronto, Ontario M5C 1K6 Tel.: (416) 360 -8006 Fax: (416) 361 -1333
Qualified Person
Dr. Bill Pearson, P.Geo., Chief Technical Advisor for Cartier Iron and a Qualified Person (QP)
as defined under National Instrument 43-101 (NI 43-101), has reviewed and approved the
scientific and technical content of this press release. The diamond drilling program will be
carried out under the supervision of Spencer Vatcher, P.Geo., a QP as defined under NI 43-
101. The IP surveys were designed and will be supervised by Dr. Chris Hale, P.Geo., Chief
Geophysicist for Cartier Iron and a QP as defined under NI 43-101. Analytical work will be
done by Eastern Analytical Ltd. in Springdale, Newfoundland. The Company employs an
industry standard QA/QC program for all analytical work.
Cartier Iron gratefully acknowledges the support of the Newfoundland and Labrador
government through the Junior Exploration Assistance program.
About Cartier Iron Corporation
Cartier Iron is an exploration and development Company focused on discovering and
developing significant iron ore resources in Quebec, and a potentially significant gold property
in the province of Newfoundland and Labrador. The Company's iron ore projects include the
Gagnon Holdings in the southern Labrador Trough region of east-central Quebec. The Big
Easy gold property is located in the Burin Peninsula epithermal gold belt in the Avalon Zone
of eastern Newfoundland.
Please visit Cartier Iron's website at www.cartieriron.com.
For further information please contact:
Thomas G. Larsen Jorge Estepa
Chief Executive Officer Vice-President
(416) 360-8006 (416) 360-8006
The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this
release. Statements in this release that are not historical facts are “forward-looking
statements” and readers are cautioned that any such statements are not guarantees of future
performance, and that actual developments or results, may vary materially from those in these
“forward-looking statements”.
Table 1. Collar coordinates, orientation and length of diamond drill holes planned at Big Easy.
DDH No. Collar E
(NAD83)
Collar N
(NAD83)
Dip Az Length
(m)
SHOAL HARBOUR GRID
BE-21-01P 709300 5340800 -60 270 250
BE-21-02P 709150 5340500 -60 270 250
Be21-03P 709861 5341759 -60 270 250
Be21-04P 710754 5340526 -60 90 250
CENTRAL ANOMALY
BE-21-33P 709865 5346300 -45 270 400
BE-21-34P 709930 5346300 -45 270 400
BE-18-32EXT 710000 5346286 -45 270 200
2,000
Holes will be NQ sized core. Dip and Azimuth are in degrees.
Note hole names may change depending on the order the holes are drilled due to logistical
considerations.
Figure 1: Plan Map of Big Easy Gold Project showing total field magnetics and major
magnetic trends with locations of Figures 2 and 3, Big Easy Gold Project.
Figure 2: Plan map showing locations of significant chargeability anomalies and
planned drill holes in the new IP target area in the Shoal Harbour Grid and in the Central
Anomaly, Big Easy Gold Project.
Figure 3: Location of Additional IP Survey Lines on total field magnetics map, Sleigh
Pond Grid, Big Easy Gold Project