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 Mine
For immediate release
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 Mine
Highlights:
➢ An Intersection grading 20.4 g/t Au over 2.0 m, included within a mineralized interval of
18.0 m at 2.7 g/t Au , was intersected in the new Zone 5CE, in the East Sector of the
property, 125 m above drill hole CH19-54E which graded 11.9 g/t Au over 2.0 m within a
mineralized interval of 16.0 m at 2.1 g/t Au;
➢ 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 15 holes, totalling 8,811 m , were drilled in the East Sector of the property since
December 2019 and demonstrate the continuity of the mineralization in Zones
5B4 5M4 5NE over 1.3 km. Drilling also led to the discovery of the Zone 5CE and revealed
the potential for increasing the resources in this part of the property (FIGURE);
➢ The property hosts three gold-bearing corridors (North, Central and South) that to date host
the following mineral resources, calculated using a gold price of US $1,300 per ounce and
a cut-off grade of 2.5 g/t Au:
✓ 4,017,600 tonnes at an average grade of 4.53 g/t Au for a total of 585,190
ounces gold in the indicated category;
✓ 4,877,900 tonnes at an average grade of 3.82 g/t Au for a total of 597,800
ounces gold in the inferred category.
➢ To date, two internal engineering studies have been completed with positive conclusions.
Two other internal engineering studies are underway, along with an internal study to
prepare for a new mineral resource estimate on the Chimo Mine Property .
Val-d’Or, August 25th, 2020 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”)
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 Hole
UTM
Coordinates
(E, N, Elev.)
Azimuth (°)
/ Dip (°)
From
(m)
To
(m)
Length
(m)
Au
(g/t)
Gold
Zone
Gold
Structure
CH19-54D
332637/5320279/-163 185/-58
1153.0 1155.0 2.0 20.4
5CE 5C
Included in 1137.0 1155.0 18.0 2.7
CH19-55CE
332527/5320277/-585 189/-51
1334.0 1335.6 1.6 11.9
5B4 5B
Included in 1321.0 1335.6 14.6 3.1
CH19-55C
332555/5320429/-327 198/-72
1328.7 1331.2 2.5 7.5
Included in 1322.0 1335.7 13.7 3.2
CH19-54CW 332627/5320190/-276 185/-48 1043.0 1048.0 5.0 2.8
CH19-55BW 332501/5320261/-671 193/-51 1362.0 1367.0 5.0 2.0
CH19-55C 332555/5320429/-327 198/-72 1287.0 1294.6 7.6 1.4 5NE 5N
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 Hole
High Grade interval Full interval
Gold
Zone
Gold
Structure Au
(g/t)
Length
(m)
Au
(g/t)
Length
(m)
CH19-55B* 32.0 2.0 7.1 12.1 5NE 5N
CH19-55B* 20.8 4.0 6.7 16.0
5B4 5B
CH19-55* 22.0 2.0 7.1 11.5
CH19-54B* 5.0 10.9 2.5 26.1
CH19-55CE 11.9 1.6 3.1 14.6
CH19-55C 7.5 2.5 3.2 13.7
CH19-54* 7.0 2.0 2.6 16.1
CH19-54E* 9.5 2.0 2.0 15.8
CH19-54D 20.4 2.0 2.7 18.0
5CE 5C
CH19-54E* 11.9 2.0 2.1 16.0
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 Au
Indicated Resources Inferred Resources
Metric
Tons
(t)
Grade
(g/t Au)
Troy
Ounces
(oz)
Metric
Tons
(t)
Grade
(g/t Au)
Troy
Ounces
(oz)
Central (1) 3,263,300 4.40 461,280 3,681,600 3.53 417,250
North (2) 505,300 5.35 86,850 715,700 4.59 105,710
South (2) 249,000 4.63 37,060 480,600 4.84 74,840
Total 4,017,600 4.53 585,190 4,877,900 3.82 597,800
Note 1: Cartier Files NI 43-101 Technical Report on SEDAR for First Mineral Resource Estimate of the Central Gold
Corridor on the Chimo Mine Property, GéoPointCom Inc., December 18, 2019.
Note 2: Cartier Files NI 43-101 Technical Report on SEDAR for the Mineral Resource Estimate of the Central, North and
South Gold Corridors on the Chimo Mine Property, InnovExplo Inc., June 17, 2020.
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 tota lling
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 po tential 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.
Qualified Persons
The scientific and technical information of the Company and the Chimo Mine Project, included in
this press release, have been prepared and reviewed by Mr. Gaétan Lavallière, P. Geo., Ph. D.,
Vice President and Mr. Ronan Déroff , P. Geo, M. Sc., Sen ior Geologist, Project Manager and
Geomatician, Qualified Persons as defined by NI 43-101. Mr. Lavallière approved the information
contained in the press release.
Quality Assurance / Quality Control
Cartier’s analytical drilling results were obtained from samples measured along the drill core. NQ
core samples are crushed up to 80% passing an 8 mesh and then pulverized to 90% passing a
mesh of 200 mesh. Cartier inserts 5% of the number of samples in the form of certified standards
and another 5% in the form of blank samples to ensure quality control. The samples are analyzed
at the Techni -Lab laboratory (Actlabs), located in Ste -Germaine-Boulé, Quebec. The 50 g pulps
are analyzed by fire assay and read by atomic absorption, followed by gravimetry for results above
5.0 g/t Au. For samples containing visible gold, 500 g of rock are analyzed by the “Metallic Sieve”
method.
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For more information, please contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819 856-0512
www.ressourcescartier.com
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of this press release.