Cartier Files on SEDAR the NI 43-101 Technical Report for the Mineral Resource Estimate of Chimo Mine Property and West Nordeau Deposit
For immediate release
Cartier Files on SEDAR the NI 43-101 Technical Report for the Mineral
Resource Estimate of Chimo Mine Property and West Nordeau Deposit
Highlights:
➢ The new resource estimate consists of (FIGURE 1):
✓ 7,128,000 tonnes at an average grade of 3.14 g/t Au for a total of 720,000
ounces of gold in the Indicated category and;
✓ 18,475,000 tonnes at an average grade of 2.75 g/t Au for a total of 1,633,000
ounces of gold in the Inferred category.
➢ Work in progress, with the objective to increasing the resources, are as follows:
✓ A drill program in progress on the Chimo Mine Gold System (FIGURE 2), with a
dimension known to date of 3.7 km x 1.6 km, which includes the recent acquisition
of the West Nordeau and et West Simon deposits;
✓ Preliminary Economic Study NI 43-101 (''PEA'') underway on the combined
resources of the Mine Chimo property and the West Nordeau deposit which will
provide increased flexibility to further strengthen the economics of the Mine Chimo
project;
✓ Integration of the results of the industrial sorting tests of Corem and Steinert US
which increase by 170% the grad e of the mineralization of the Chimo Mine
property;
✓ Evaluation of the potential of the gold intersections discovered to date peripher al
to the Chimo Mine Gold System over a length of 10 km along the Larder Lake -
Cadillac fault.
Val-d’Or, October 13th, 2022 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces that it
has filed on SEDAR the NI 43-101 technical report titled “NI 43-101 Technical Report and Mineral
Resource Estimates for the Chimo Mine and West Nordeau Gold Deposits, Chimo Mine and East
Cadillac Properties, Québec, Canada” dated October 12th, 2022.
This NI 43-101 compliant report produced by InnovExplo Inc. for Cartier presents the results of the
updated mineral resource estimates for the Chimo Mine property and the West Nordeau deposit;
located along the Larder Lake - Cadillac fault, 45 km east of Val-d'Or, Quebec, Canada. The report
is available on SEDAR and on the Company's website.
The recent acquisition of the West Nordeau deposit, within 450 m of the resources of the Chimo
Mine property, makes it possible to integrate all the resources with common characteristics with a
reasonable prospect of possible economic extraction. The mineralization of the Chimo Mine Gold
System consists of 28 gold zones that are part of 19 gold structures, themselves grouped into 3
gold corridors. The NI 43-101 resources in effect as of August 22, 2022 for this gold system,
combining the resources of the Chimo Mine property with those of the West Nordeau deposit, are
presented below. (FIGURE 1):
Gold Corridor
Cut-off Grade
(g/t Au)
Indicated Resources Inferred Resources
Metric
Tonnes
(t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
Metric
Tonnes
(t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
North Gold
Corridor (>2,0) 1,119,000 3.85 139,000 1,714,000 3.54 195,000
Central Gold
Corridor (>1,5) 5,565,000 2.96 529,000 14,812,000 2.56 1,221,000
South Gold
Corridor (>2,0) 444,000 3.61 52,000 1,949,000 3.47 217,000
Total 7,128,000 3.14 720,000 18,475,000 2.75 1,633,000
The NI 43-101 gold resources, effective as of August 22, 2022, for the West Nordeau deposit are
presented below:
Gold Corridor
Cut-off Grade
(g/t Au)
Indicated Resources Inferred Resources
Metric
Tonnes (t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
Metric
Tonnes (t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
North Gold
Corridor (>2,0) - - - 151,000 3.50 17,000
Central Gold
Corridor (>1,5) 512,000 2.19 36,000 3,084,000 2.60 258,000
Total 512,000 2.19 36,000 3,235,000 2.64 275,000
The NI 43-101 gold resources, effective as of August 22, 2022, for the Chimo Mine property are
presented below:
Gold Corridor
Cut-off Grade
(g/t Au)
Indicated Resources Inferred Resources
Metric
Tonnes
(t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
Metric
Tonnes
(t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
North Gold
Corridor (>2,0) 1,119,000 3.85 139,000 1,563,000 3.54 178,000
Central Gold
Corridor (>1,5) 5,053,000 3.03 493,000 11,728,000 2.55 963,000
South Gold
Corridor (>2,0) 444,000 3.61 52,000 1,949,000 3.47 217,000
Total 6,616,000 3.21 684,000 15,240,000 2.77 1,358,000
Additional notes on the resource estimate
1. These mineral resources are not mineral reserves because their economic viability has not been
demonstrated. The quantity and grade of Inferred Resources reported in this Mineral Resource
Estimate is uncertain in nature and there can be no assurance that any or all of the Inferred Mineral
Resources can be converted to Indicated Mineral Resources with further exploration drilling.
2. The mineral resource estimate of complies with the standards and guidelines in effect of the
Canadian Institute of Mining, Metallurgy and Petroleum (CIM) as well as the NI 43-101 standard
for the publication of mineral resources.
3. The requirement of a reasonable prospect of eventual economic extraction is met by having a
minimum modeling width for mineralized zones, a cut-off grade based on reasonable inputs and an
economic binding volume that lends itself to a potential scenario of underground extraction for
undiluted in-situ resources. The constrained volume was achieved with the Deswik Stope
Optimizer (" DSO ") using a minimum mining volume of 10 m in width in the longitudinal orientation
of the gold zones, by 10 m in height and 2 m in thickness varying up to a maximum of
25 m x 100 m x 15 m. The optimization was carried out using the respective cut-off grade of each
of the gold corridors for the indicated and inferred resources. The results of the DSO were then
used for the resource estimate statement.
4. The resource estimate is presented for potential underground scenarios at a cut-off grade of
2.0 g/t Au for the North and South Gold Corridors and 1.5 g/t Au for the Central Gold Corridor. The
cut-off grade reflects the geometry and actual width of each of the gold corridors. The cut-off grade
was calculated using the following main parameters:
✓ Gold price of US $ 1,612 / oz;
✓ Exchange rate of US $ 1.34 / CAD $ per troy ounce;
✓ Costs relating to the Central Gold Corridor for:
➢ Definition drilling of CAD $ 3 / t;
➢ Development, mining, transport and milling of CAD $ 50.75 / t;
➢ Environmental restoration of CAD $ 0.75 / t;
✓ Costs relating to the North and South Gold Corridors for:
➢ Definition drilling of CAD $ 6 / t;
➢ Development, mining, transport and milling of CAD $ 75.50 / t ;
➢ Environmental restoration of CAD $ 1.50 / t;
✓ For the Chimo Mine property: Triple Flag Precious Metals royalty cost of CAD $ 20.96 /
troy ounce;
✓ For the West Nordeau deposit: Globex Mining Enterprises Inc. royalty cost of CAD $
64.80 / troy ounce;
✓ General and administrative costs of 12 $ CAD / t.
5. For the Chimo Mine property, the estimate was carried out on 17 3D solids corresponding to the
structures constituting the Northern Gold Corridor (structures: 1A, 1B, 2, 3 and 4B), South
(structures: 6, 6B, 6C, 6P and 6P2) and Central (structures: 5B, 5B2, 5C, 5M, 5M2, 5N and 6N1)
of the Chimo Mine property whose minimum actual thickness is 2.40 m and the average thickness
is 7.42 m. For the West Nordeau deposit, 8 structures were modeled using a minimum real
thickness of 2.4 m, including 5 structures for the North Gold Corridor and 3 structures for the Central
Gold Corridor. The contents of the samples analyzed are used when they are available otherwise
in the absence of analytical content, a value of zero is assigned.
6. The density value of 2.90 g/cm3 (to 3.10 g/cm3) supported by measurements, was applied to all
gold structures.
7. The estimate for the Chimo Mine property was made from a database made up, as of September
1, 2020, of 3,658 holes totaling 290,419 m drilled, 18,612 deviation measurements as well as
81,413 samples analyzed for gold and collected over a core length of 88,035 m representing 30%
of the core length drilled. This database contains 2,383 blank and standard samples, inserted for
QA/QC by Cartier between November 1, 2016 and September 1, 2020. This database was
validated before starting the resource estimate. The estimate was carried out on 17 mineralized
structures, intersected by 67,103 m of drilling, having produced 8,611 different gold intersections.
The estimate of the West Nordeau deposit was made from a database consisting, as of July 12,
2022, of 154 drill holes totaling 55,097 m drilled, 6,873 deviation measurements as well as 18,973
samples analyzed for the gold and collected over a core length of 19,785 m representing 36% of
the core length drilled. This database contains 820 blank and standard samples, inserted for
QA/QC by previous operators: Chalice Gold Mines Limited and O3 Mining Inc. between March 11,
2017 and March 17, 2020. This database was validated before starting the resource estimate. The
estimate was carried out on 8 mineralized structures, intersected by 4,982 m of drilling, having
produced 802 different gold intersections.
8. High grade capping was carried out from statistical analysis data at each of the gold structures for
values varying between 30 g/t Au and 120 g/t Au from the grade of the composites, also using the
grade adjacent material or a value of zero when adjacent material has not been analyzed.
9. The underground openings (open or backfilled-cemented mine sites, drifts, raises and shafts) were
modeled from transverse and longitudinal sections as well as detailed historical geological and
mining plans. Historical underground production has been subtracted from the resource estimate.
10. The Chimo Mine resource estimate was performed using GEOVIA GEMS 6.8.2. Software, from
capped and composited analyses, constrained by the modeled structures. The ordinary kriging
method was used to interpolate the block model composed of blocks of dimension 5.0 m x 5.0 m x
5.0 m. For the West Nordeau deposit, gold resources were estimated using Leapfrog Edge
v.2021.2.5 software from capped and composite analyses, constrained by the modeled structures.
The ordinary kriging method was used to interpolate a model with sub-blocks (size of a parent block
= 5.0 m x 5.0 m x 5.0 m).
11. The mineral resource estimate presented here is classified as indicated and inferred resources.
The indicated category is defined by a minimum of 3 drill holes located within a 25 m radius and
the presumed category is defined by a minimum of 2 drill holes located within a 65 m radius, where
there is reasonable continuity of geology and gold grades.
12. Ounce troy is metric tons multiplied by grade (g/t) and divided by the constant of 31.10348. The
number of tonnes has been rounded to the nearest thousand. Any discrepancy in the totals is due
to rounding effects. The rounding complies with the recommendations of NI 43-101.
13. The qualified persons are not aware of any problem related to the environment, permits, mining
titles or related to legal, fiscal, socio-political, commercial issues or any other relevant factor not
mentioned in this press release, that could have a significant impact on the 2022 mineral resource
estimate.
The table of the sensitivity of the cut-off grades on the resources of the Chimo Mine Gold System are
presented below:
Cut-off
Grade
(g/t Au)
North Gold Corridor Central Gold Corridor South Gold Corridor
Metric
Tonnes
(t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
Metric
Tonnes
(t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
Metric
Tonnes
(t)
Grade
(g/t Au)
Troy
Ounces
(oz Au)
INDICATED RESOURCES
1.0 2,311,000 2.64 196,000 8,105,000 2.41 627,000 843,000 2.62 71,000
1.5 1,607,000 3.21 166,000 5,565,000 2.96 529,000 630,000 3.06 62,000
2.0 1,119,000 3.85 139,000 3,856,000 3.49 433,000 444,000 3.61 52,000
2.5 785,000 4.52 114,000 2,725,000 4.03 353,000 293,000 4.25 40,000
INFERRED RESOURCES
1.0 4,583,000 2.19 323,000 23,699,000 2.06 1,572,000 4,830,000 2.24 348,000
1.5 2,714,000 2.84 248,000 14,812,000 2.56 1,221,000 2,897,000 2.91 271,000
2.0 1,714,000 3.54 195,000 9,167,000 3.07 904,000 1,949,000 3.47 217,000
2.5 1,240,000 4.01 160,000 5,966,000 3.52 675,000 1,351,000 3.96 172,000
The above table illustrates the sensitivity of this mineral resource estimate to different cut-off grades
for underground operation scenarios with reasonable prospects for economic extraction. The reader
is cautioned that the figures provided in this table should not be construed as a statement of mineral
resources. The quantities and estimated grades reported at different cut-off grades are presented for
the sole purpose of demonstrating the sensitivity of the resource model to the choice of a specific cut-
off grade per gold corridor.
InnovExplo Inc.’s NI 43-101 report will be filled on SEDAR with-in 45 days from the present.
About Cartier Resources Inc.
Cartier Resources Inc. was founded in 2006 and is a Val -d’Or based exploration company. The
company’s projects are all located in Quebec, which has consistently ranked as one of the world’s
best mining jurisdictions. Cartier is advancing the development of its flagship Chimo Mine Project
and actively exploring its other projects. The Company has a strong cash position exceeding
$5.2 M and a significant corporate and institutional endorsement, including Agnico Eagle Mines,
O3 Mining and Quebec investment funds.
Qualified Persons
The scientific and technical information on the Company and the Chimo Mine Project in this news
release was prepared and reviewed by Mr. Gaétan Lavallière, P. Geo., Ph . D, Cartier’s
Vice- President, and Mr. Ronan Déroff, P. Geo, M. Sc., Cartier’s Senior Geologist, Project Manager
and Geomatician, both qualified persons as define d in NI 43 -101. Mr. Lavallière approved the
information contained in this press release.
The qualified persons independent of the issuer, responsible for estimating the resources of the
Chimo Mine property and the Nordeau West deposit, within the meaning of NI 43 -101, are Mrs.
Vincent Nadeau-Benoit, P.Geo., Alain Carrier P.Geo., M.Sc. and Marc R. Beauvais P.Eng. from
the firm InnovExplo Inc. Mrs. Nadeau-Benoit, Carrier and Beauvais declare that they have read
this press release and that the scientific and technical information relating to the resource estimate
presented therein is correct.
About InnovExplo Inc.
InnovExplo Inc. is a consulting firm providing services in mineral exploration, mining geology,
mineral resources, mining engineering, the environment, and sustainable development. Since its
founding in 2003, InnovExplo Inc. has worked on 450 different mandates for 170 junior mineral
exploration companies and producers. The firm has produced more than 300 geological or
engineering reports for projects covering almost all areas of a mining project, from exploration to
operations, mainly including the drafting of NI 43-101 technical reports.
- 30 -
For more information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
www.ressourcescartier.com
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy
or accuracy of this press release.
WEST
Chimo Mine
West Nordeau
Total
Troy Oz
(oz Au)
6,616,000
512,000
7,128,000
3.21
2.19
3.14
684,000
36,000
720,000
PORTAL
WEST SIMON
DEPOSIT
CHIMO MINE GOLD SYSTEM
LONGITUDINAL COMPOSITE SECTION
EAST
CHIMO MINE
SECTOR RESOURCES
1,358,000
275,000
1,633,000
2.77
2.64
2.75
15,240,000
3,235,000
18,475,000
Gold Deposits Grade
(g/t Au)
1.6 km
August 22nd, 2022
3.7 km
LÉGEND
5 - 10
20 - 25
25 - 30
> 30
(g/t x m)
10 - 15
15 - 20
METAL FACTOR
The scientifical and technical information of the company have been prepared and reviewed by Gaétan
Lavallière P.Geo., Ph.D., Vice President and Ronan Déroff, P.Geo., M.Sc., Senior Geologist, Project Manager and
Geomatician, Qualified Persons as defined by NI 43-101. Mr. Lavalliere approved the information.
NI 43-101 Mineral Resources Estimate for Chimo Mine and West Nordeau Gold Deposits, Québec, Canada,
Vincent Nadeau-Benoit, P.Geo. and Alain Carrier, P.Geo., M.Sc., InnovExplo Inc., August 22nd, 2022.
Metric
Ton (t)
Indicated Resources Inferred Resources
Metric
Ton (t)
Troy Oz
(oz Au)
Grade
(g/t Au)
CHIMO MINE AND WEST NORDEAU GOLD DEPOSITS 2022 MRE
Existing underground infrastructures
Example of future underground infrastructures
10000 m
9800 m
9600 m
9400 m
9200 m
9000 m
8800 m
8600 m
8400 m
10000 m
9800 m
9600 m
9400 m
9000 m
8800 m
8600 m
2800E m
2400E m
1800E m
WEST NORDEAU
DEPOSIT
1000E m
200E m
200W m
EAST CHIMO MINE
SECTOR RESOURCES
LONGITUDINAL COMPOSITE SECTION
WEST EASTCHIMO MINE GOLD SYSTEM
August 10th, 2022
1.6 km
LÉGEND
METAL FACTOR
(g/t x m)
5 - 10
10 - 15
15 - 20
20 - 25
25 - 30
> 30
3.7 km
DRILL
TARGET
AREAS
2022 - 23
CHIMO MINE
SECTOR RESOURCES
WEST NORDEAU
DEPOSIT
NEXT
DRILL
TARGET
AREAS
Indicated Resources: 684,000 oz Au
Inferred Resources: 1,358,000 oz Au
The scientifical and technical
information of the company have
been prepared and reviewed by
Gaétan Lavallière P.Geo., Ph.D.,
Vice President and Ronan Déroff,
P.Geo., M.Sc., Senior Geologist,
Project Manager and Geomatician,
Qualified Persons as defined by NI
43-101. Mr. Lavalliere approved the
information.
NI 43-101 Technical Report and
Mineral Resources Estimate Update
for Chimo Mine Project, Québec,
Canada, Christine Beausoleil, P.Geo.
and Claude Savard, P.Geo.,
InnovExplo Inc., May 6th, 2021.
CHIMO MINE PROJECT RESOURCES
EAST CHIMO MINE
SECTOR RESOURCESPORTAL
WEST SIMON
DEPOSIT