CFE.CN · · 2023-09-07

Cartier Silver Intersects 49.19 g Ag/t, 1.35% Zn and 1.31% Pb over 44.76m in Discovery Hole on the Gonalbert Property, Potosi Department, Southern Bolivia

This zone includes a higher-grade interval of 137.42 g Ag/t, 7.91% Zn and 5.6% Pb over 5.60m

Other significant intersections in the Discovery Hole include:

57.74 g Ag/t and 1.75% Pb over 18.25m including 79.90 g Ag/t and 2.53% Pb over 6.63m

109.54 g Ag/t, 3.68% Zn and 4.44% Pb over 11.09m including 170.01 g Ag/t, 2.51% Zn and 7.00% Pb over 5.81m

57.74 g Ag/t and 1.75% Pb over 18.25m including 79.90 g Ag/t and 2.53% Pb over 6.63m

109.54 g Ag/t, 3.68% Zn and 4.44% Pb over 11.09m including 170.01 g Ag/t, 2.51% Zn and 7.00% Pb over 5.81m

Channel sampling of the underground artisanal workings at Gonalbert returned the highest-grade values from the lower levels including 245.5 g Ag/t over 1.5m, 492.0 g Ag/t over 0.7m and 123.9 g Ag/t over 1.5m

Surface rock geochemical sampling has defined an extensive area of anomalous Ag and Pb extending for a strike length of approximately 2km that correlates well with the IP chargeability trends.

TORONTO, Sept. 07, 2023 (GLOBE NEWSWIRE) -- Cartier Silver Corporation (CSE: CFE) (“Cartier Silver” or the “Company”) is pleased to report the first results from diamond drilling to test geological and geophysical targets for epithermal Ag-Pb-Zn mineralization on the Gonalbert Property, Potosi Department, Southern Bolivia.

The initial program as previously reported (see Cartier Silver press release of June 29, 2023) consists of 5 drill holes totaling 3,300m collared in the general vicinity of the artisanal silver mine. To date 729.5m of drilling have been completed in two holes with a third hole in progress (Figure 1). Results have been received for drill hole DGL-01 as outlined in Table 1.

Collar locations and orientations of these holes are listed in Table 2 below.

Tom Larsen, CEO of Cartier Silver, commented: “We are very pleased with the excellent result from the inaugural diamond drill campaign at Gonalbert. Initial values from our first hole demonstrate especially solid silver grades, along with significant lead and zinc. The channel sample values from the underground workings show consistency with silver head grades reported from recent mining activity.

Regional geological and rock geochemical work on the property by our exploration team has outlined a prospective 2 kilometer long potentially silver-rich target area on Gonalbert. We are looking forward to receiving further results from this drilling program.”

Dr. Osvaldo Arce, P.Geo., General Manager of Cartier Silver’s Bolivian subsidiary, Minera Cartier S.R.L., said: “The ongoing surface and underground mapping, channel sampling and initial diamond drilling at the Gonalbert zone (southern part of the Chorrillos project), demonstrate that it is a Bolivian-type caldera hosted, polymetallic silver-dominant epithermal vein system, associated with Ordovician slates, and Miocene dacitic domes, dykes, and lithic tuffs.

Vein-type and disseminated Ag-Zn-Pb mineralization occurs in subvertically continuous fault hosted veins, and replacements of brecciated faults. The widest and highest-grade veins are present in northwest trending faults which are readily evident in the geological and geophysical data.”

Dr. Arce continued: “The Chorrillos project area occurs along a ±100 km northwest structural corridor that includes known deposits such as Chorolque (Sn), Iska Iska (Ag-Sn-Zn-Pb), Tasna (Bi-Sn-W-Au) and other large Bolivian type polymetallic deposits. It is very likely that Gonalbert may host high temperature Sn porphyry-type mineralization at depth.”

Diamond Drilling Results

The Discovery Drill Hole DGL-01, as shown in Figure 1, was drilled to test the chargeability anomaly in the Central Adit area. This hole, which was drilled at an azimuth of 60 degrees and a dip of -70E, intersected a series of high-grade epithermal silver-lead-zinc zones within a broad mineralized envelope in altered metasediments associated with steeply dipping fault zones. Significant results are as follows:

57.74 g Ag/t and 1.75% Pb over 18.25m from 115.75m to 134.00m including 79.90 g Ag/t and 2.53% Pb over 6.63m from 115.75 to 122.38m.

49.19 g Ag/t, 1.35% Zn and 1.31% Pb over 44.76m from 347.10m to 391.86m including 137.42 g Ag/t, 7.91% Zn and 5.6% Pb over 5.60m from 347.10m to 352.70m.

109.54 g Ag/t, 3.68% Zn and 4.44% Pb over 11.09m from 418.89m to 429.98m including 170.01 g Ag/t, 2.51% Zn and 7.00% Pb over 5.81m from 418.89m to 424.70m.

The true width of these intersections is approximately 80%.

Table 1: Diamond Drill Hole Assay Results as at September 7, 2023, Gonalbert Property

Hole #

From (m)

To (m)

Length (m)

g/t

DGL-01

98.69

103.42

3.88

74.24

0.10

0.01

4.28

0.04

0.01

115.75

134.00

18.25

57.74

0.12

0.01

1.75

0.03

0.01

Incl

115.75

122.38

6.63

79.90

0.12

0.01

2.53

0.06

0.00

276.97

277.47

0.50

27.80

0.56

0.06

0.03

0.44

0.00

333.76

335.56

1.80

80.48

0.20

3.37

2.64

0.02

0.01

347.10

391.86

44.76

49.19

0.01

1.35

1.43

0.01

Incl

347.10

352.70

5.60

137.42

0.02

7.91

5.60

0.03

0.01

418.89

429.98

11.09

109.54

0.05

3.68

4.44

0.02

Incl

418.89

424.70

5.81

170.01

0.04

2.51

7.00

0.02

0.01

435.78

436.28

0.50

103.70

0.02

20.87

4.10

0.05

0.04

Note: True width is approximately 80% of core length. Chemical symbols: Ag = silver, Au = gold, Zn = zinc, Pb = lead, Cu = copper and Sn = tin. Quantities are given in percent (%) for Zn, Pb Cu, Sn and in grams per tonne (g/t) for Ag and Au.

Underground Channel Sampling, Gonalbert Artisanal Mine

Underground channel sampling has been carried out in the Hoyada, Labor Central Rieles (Central Adit) and Tocoyoj artisanal underground workings (Figure 1). Results (Table 3) have been received for underground sampling at Central Adit where the main production shaft is located (Figure 1). Channel sampling was systematically carried out along the ENE and NNW-oriented drifts on the principal production levels including Level 0, 100, 160 and 180.

As shown in Figure 4, apart from one sample in level 0 which returned 504.0 g Ag/t over 0.52m, the best results were obtained in the lower levels including 245.5 g Ag/t over 1.5m, 492.0 g Ag/t over 0.7m and 123.9 g Ag/t over 1.5m. Ag and Pb correlate almost perfectly in the lower levels, indicating that the silver is largely contained within galena. Galena occurs with minor pyrite and chalcopyrite, providing the chargeability target that was mapped directly in the IP/Res survey.

Geophysical data suggest that the chargeable mineralization becomes stronger with depth, reaching a maximum at the 400m limit reached with the IP/Res survey. This trend to higher Ag and Pb values at greater depth is supported by the results of sampling over four levels from the surface to -180m in the drifts at Central Adit. Drilling to date has only partially tested the extensive chargeability anomaly.

Surface Rock Geochemical Sampling

A rock geochemical surface sampling program carried out over much the Gonalbert Property, has confirmed that Ag-Pb-Zn mineralization is associated with north-northwest trending structures inferred from the IP/Res and topographic surveys (see Cartier Silver press release of June 7, 2023). Silver values show the same strong correlation with galena (Pb) that is evident in the underground workings.

The principal trend of mineralization is 310-330 degrees parallel to a set of north-northwest trending quartz dykes. The strong correlation of silver with galena indicates that the IP chargeability response from the galena (over 10% in some veins) can be used to effectively target the silver-bearing mineralization.

Figure 5 shows the distribution of Ag and Figure 6 that of Pb. Complete analytical results are given in Table 4. Samples taken are chip and channel samples.

Figure 1: Geology Plan Map of Gonalbert Property Showing Locations of Diamond Drill Holes and Artisanal Mine Workings

Figure 2: Geological Cross Section Discovery Hole DGL-01, Gonalbert

Figure 3: Chargeability Cross Section, Discovery Hole DGL-01, Gonalbert

Figure 4: Geological Cross Section showing Underground Channel Sampling, Gonalbert

Figure 5: Rock Geochemical Sampling, Gonalbert Property Showing Ag Distribution

Figure 6: Rock Geochemical Sampling, Gonalbert Property Showing Ag Distribution

Table 2: Summary of Diamond Drill Hole Coordinate in Gonalbert

Hole No.

Collar

Easting

Collar

Northing

Elev.

Azimuth

Angle

HoleLength

(m)

Holes Assays Reported

DGL-01

219000.0

7637460.0

3669.5

60°

-70°

457.0

Subtotal

457.0

Holes Assays Pending and In Progress

DGL-02

219214.7

7637583.9

3581.8

-70°

272.5

DGL-03

218742.2

7637542.2

3596.3

-50°

In progress

Subtotal

272.50

TOTAL

729.50

Table 3: Results of Underground Channel Sampling

SAMPLE #

UG LEVEL

EASTING

NORTHING

ELEV.

WIDTH (m)

STRIKE

DIP

Ag g/t

Au g/t

Pb %

Zn %

Cu %

Sn %

GLC-01

- 160

219040

7637477

3432

1.25

130

0.6

0.03

0.0

< 0.005

0.01

GLC-02

- 160

219023

7637474

3431

0.70

292

0.9

0.03

0.0

< 0.005

GLC-03

- 160

219003

7637493

3432

0.58

145

82.5

0.04

4.0

8.8

0.02

0.01

GLC-04

- 160

219004

7637496

3432

0.86

308

89.2

0.05

3.6

2.9

0.03

< 0.005

GLC-05

- 160

219002

7637515

3427

0.47

322

73.0

0.06

4.5

10.8

0.03

0.01

GLC-07

- 160

218979

7637538

3433

1.45

117

49.0

0.04

2.8

5.9

0.03

0.01

GLC-08

- 160

218968

7637562

3434

1.00

125

2.0

0.04

0.0

0.1

< 0.005

0.01

GLC-09

- 160

218952

7637594

3437

1.60

185

12.6

0.14

0.4

2.3

0.01

< 0.005

GLC-10

- 160

218955

7637614

3434

1.10

117

23.4

0.14

0.3

0.4

0.01

< 0.005

GLC-11

- 160

218909

7637675

3436

1.35

120

245.4

0.04

9.9

19.1

0.04

GLC-12

- 160

218887

7637703

3436

1.30

300

56.5

0.04

2.4

14.7

0.03

0.02

GLC-13

- 160

218878

7637711

3436

1.35

312

67.4

0.04

3.2

22.0

0.03

GLC-15

- 160

218852

7637755

3438

1.63

315

55.5

0.09

1.9

11.0

0.02

GLC-16

- 180

219032

7637476

3405

2.20

2.1

0.18

0.0

0.3

< 0.005

GLC-17

- 180

218992

7637513

3406

0.70

152

492.0

0.04

19.8

5.9

0.02

< 0.005

GLC-18

- 180

218966

7637559

3407

1.00

248

3.6

0.06

0.3

0.5

< 0.005

GLC-19

- 180

218957

7637577

3407

1.50

348

123.9

0.07

6.6

3.3

0.09

< 0.005

GLC-20

- 180

218895

7637684

3409

2.70

154

16.3

0.10

0.3

12.5

0.03

0.02

GLC-21

- 180

218921

7637666

3409

1.50

285

31.9

0.04

1.1

10.8

0.02

GLC-23

219134

7637509

3588

1.40

146

1.5

0.03

0.1

0.3

< 0.005

GLC-24

219102

7637495

3590

1.10

238

1.3

0.02

0.2

0.4

< 0.005

0.01

GLC-25

219096

7637492

3589

1.30

234

4.1

0.03

0.2

0.0

0.03

0.01

GLC-26

219068

7637480

3589

0.60

325

54.2

0.04

4.3

0.0

0.06

0.01

GLC-27

219063

7637478

3590

0.50

240

504.0

0.04

15.6

0.0

0.07

< 0.005

GLC-28

219013

7637457

3590

1.50

234

2.7

0.02

0.2

0.0

0.01

< 0.005

Table 4: Results of Surface Rock Geochemical Sampling

POINT

SAMPLE #

EASTING

NORTHING

ELEV.

WIDTH (m)

STRIKE

DIP

Ag g/t

Au g/t

Pb %

Zn %

Cu %

Sn %

SJ1

GSJ-01

219434

7636725

3613

0.40

130

170

0.03

7.36

0.67

0.11

0.01

SJ2

GSJ-02

219546

7637763

3622

0.39

168

0.01

0.00

0.01

SJ3

GSJ-03

219603

7637753

3613

0.23

188

0.02

0.01

0.03

0.20

SJ4

GSJ-04

219634

7637631

3591

1.60

137

0.01

0.08

0.10

0.00

SJ5

GSJ-05

219396

7637643

3599

0.40

283

0.01

0.00

0.28

0.02

0.00

SJ6

GSJ-06

219438

7637621

3585

0.70

0.01

0.05

0.27

0.01

SJ7

GSJ-08

219641

7637409

3557

0.30

139

1.84

0.04

0.05

0.02

0.03

SJ8

GSJ-09

219423

7637568

3587

0.36

316

0.01

0.25

0.03

0.01

SJ9

GSJ-10

219778

7637341

3507

0.64

102

0.23

0.01

0.04

0.01

0.00

SJ10

GSJ-11

218770

7638456

3590

0.35

0.04

0.08

0.11

0.02

0.01

GN-2

GSJ-13

218735

7637999

3575

0.38

104

0.02

3.61

0.82

0.02

GN-4

GSJ-14

218797

7637971

3593

0.40

303

0.02

0.86

1.84

0.02

0.01

G11

GSJ-15

218509

7638159

3551

0.23

308

0.07

0.06

0.01

0.00

0.01

G16

GSJ-16

218679

7638208

3571

0.24

312

0.24

0.26

0.08

0.01

G20

GSJ-17

218896

7637940

3584

0.23

116

123

0.04

2.24

0.20

0.02

G32

GSJ-18

219417

7636627

3626

0.36

162

0.01

0.94

0.01

0.00

G37

GSJ-19

219119

7636846

3599

0.40

336

0.19

2.60

0.03

0.02

0.01

G44

GSJ-20

219113

7637113

3629

0.50

0.03

1.10

0.00

0.01

G54

GSJ-22

219098

7637170

3644

0.80

175

0.03

0.28

0.01

0.00

0.02

G62

GSJ-23

219094

7637210

3651

0.10

322

4,160

0.27

21.00

0.01

1.65

G82

GSJ-24

219101

7637043

3626

0.20

135

0.03

0.61

0.00

0.01

G92

GSJ-25

219144

7637367

3623

0.45

172

0.02

1.50

0.01

0.04

0.02

G101

GSJ-26

219063

7637508

3639

0.80

134

102

0.12

5.34

0.02

0.03

0.04

G117

GSJ-28

218728

7637707

3618

0.50

140

0.02

0.03

0.01

0.00

GO10

GSJ-29

219032

7636547

3592

0.40

174

0.01

0.76

0.16

0.01

0.02

GO31

GSJ-30

219384

7637186

3549

0.25

0.01

1.58

0.35

0.03

0.01

GO37

GSJ-31

219606

7636797

3574

2.00

Dump sample

483

0.08

19.50

0.10

0.08

0.05

GO56

GSJ-33

219560

7636653

3616

0.25

178

0.01

0.30

0.00

0.01

0.00

GO66

GSJ-34

219812

7636807

3506

0.37

125

179

0.04

18.25

0.10

0.07

0.04

GO71

GSJ-35

219892

7636825

3474

0.70

122

0.04

0.31

0.06

0.03

0.00

GO74

GSJ-36

219843

7636733

3507

0.40

115

0.29

0.05

0.03

3.67

17.80

GO84

GSJ-37

219613

7637925

3623

4.00

0.06

0.10

0.02

0.03

0.02

GO90

GSJ-38

219551

7637557

3553

0.30

134

0.01

0.10

0.18

0.01

0.02

GO93

GSJ-40

219500

7637524

3536

0.12

128

0.01

0.17

0.62

0.00

0.01

GO102

GSJ-41

219311

7637635

3569

0.20

0.01

0.02

0.08

0.02

0.00

GO118

GSJ-42

219062

7637539

3638

stockwork

0.09

0.38

0.00

0.01

0.02

GO120

GSJ-43

219036

7637562

3632

0.45

322

0.12

1.53

0.09

0.03

0.02

GO137

GSJ-44

219752

7636941

3474

0.2

110

0.07

3.29

0.02

G0144

GSJ-45

219572

7637030

3520

132

0.06

0.33

0.27

0.01

0.04

G0147

GSJ-46

219474

7637231

3524

0.18

144

0.05

0.82

0.22

0.02

0.01

GN2

GSJ-47

219797

7637258

3500

1.2

160

0.10

0.11

0.01

5.04

0.01

GO180

GSJ-51

218712

7638156

3592

0.12

285

0.60

0.14

0.15

0.05

0.00

GO205

GSJ-55

219082

7638432

3674

0.1

310

0.22

0.12

0.00

GO216

GSJ-56

219348

7637893

3595

0.1

315

0.03

0.02

0.08

0.00

GO221

GSJ-57

218815

7637502

3639

0.5

140

0.03

1.24

0.26

0.02

0.03

GG3

GSJ-72

219853

7636739

3495

0.2

135

<0.01

0.65

0.00

<0.005

GSJ-73

219798

7636797

3511

0.25

170

153

0.05

5.16

0.08

0.14

0.02

G35

GSJ-74

219728

7636426

3601

Dump sample

345

0.03

12.70

0.28

0.03

0.35

G53

GSJ-78

219877

7636754

3497

0.2

190

0.07

2.98

0.12

0.16

0.01

G63

GSJ-80

218840

7637768

3597

0.07

0.21

8.52

0.06

0.07

0.02

GG4

GSJ-81

219643

7636770

3557

0.40

140

347

0.11

14.20

0.16

0.09

0.03

GG5

GSJ-83

219479

7636807

3590

0.35

170

<0.01

0.18

0.02

0.00

<0.005

G85

GSJ-85

219678

7636668

3563

0.15

175

0.02

0.72

0.00

0.02

GO211

GSJ-139

219390

7636837

3595

0.40

340

428

0.07

12.05

0.01

0.02

G0212

GSJ-140

219286

7636789

3594

0.40

314

<0.01

1.02

0.01

0.00

GO215

GSJ-142

219265

7636921

3594

0.30

155

179

0.10

0.41

0.01

GO208

GSJ-143

219861

7637316

3468

0.30

114

0.05

0.03

2.82

GO203

GSJ-144

219905

7637170

3433

2.00

138

220

0.05

0.02

0.01

0.02

GO209

GSJ-145

219845

7637211

3492

0.15

190

0.01

0.02

0.01

3.17

Note: NA = not analyzed

Qualified Person

Dr. Bill Pearson, P.Geo., 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. Dr. Chris Hale, P.Geo., supervised the geophysical surveys. Geological surveys and diamond drill logging and sampling were supervised by Dr. Osvaldo Arce, P.Geo. Messrs Hale and Arce are QPs as defined by NI 43-101.

Rock geochemical sampling program was directed by Dr. Osvaldo Arce, P.Geo. Underground channel sampling was employed whereas for the surface rock geochemical program both channel and chip sampling method were employed.

Cartier Silver is utilizing both ALS and AHK for drill core analysis, both of whom are major international accredited laboratories. Drill samples sent to ALS are prepared in both ALS Bolivia Ltda’s preparation facility in Oruro, Bolivia and the preparation facility operated by AHK in Tupiza with pulps sent to the main ALS Global laboratory in Lima for analysis.

Cartier Silver employs an industry standard QA/QC program with standards, blanks and duplicates inserted into each batch of samples analyzed with selected check samples sent to a separate accredited laboratory.

Drill core samples sent to AHK Laboratories are prepared in a preparation facility installed and managed by AHK in Tupiza with pulps sent to the AHK laboratory in Lima, Peru. Check samples between ALS and AHK are regularly done as a QA/QC check. AHK is following the same analytical protocols used as with ALS and with the same QA/QC protocols.

About Cartier Silver Corporation

Cartier Silver is an exploration and development Company focused on discovering and developing its recently acquired silver property assets, including the Chorrillos Project and claims staked by the Company’s subsidiary, all of which are located in the Potosi Department of southern Bolivia.

The Company also holds significant iron ore resources at its Gagnon Holdings in the southern Labrador Trough region of east-central Quebec, and the Big Easy gold property in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland and Labrador.

For further information please visit Cartier Silver’s website at www.cartiersilvercorp.com

For further information please contact:

ThomasG.Larsen

Jorge Estepa

Chief Executive Officer

Vice-President

(800) 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”andreadersarecautionedthatanysuchstatementsarenotguaranteesoffuture performance,andthatactualdevelopmentsorresults,mayvarymateriallyfromthoseinthese “forward-lookingstatements”.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/157827cf-eef1-4ca7-9c98-0b12a045f95d

https://www.globenewswire.com/NewsRoom/AttachmentNg/9b82d2ab-2c33-4c23-8062-bf19814816c8

https://www.globenewswire.com/NewsRoom/AttachmentNg/13ebe094-95e9-4e00-99f5-279ac96e9e13

https://www.globenewswire.com/NewsRoom/AttachmentNg/6ce602bd-92cc-413c-b3eb-e6a8f6a0e207

https://www.globenewswire.com/NewsRoom/AttachmentNg/cb1c1509-5430-4b22-aba3-08d9ca81d436

https://www.globenewswire.com/NewsRoom/AttachmentNg/535d7e48-9fe9-478f-88df-9569e3a3b9f4

PDF available: http://ml.globenewswire.com/Resource/Download/3c116bfb-55db-45b8-b578-f87f61a1c9bd

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