Cartier Launches 25,000 Meter Drill Program at Chimo Mine Project
For immediate release
Cartier Launches 25,000 Meter Drill Program at Chimo Mine Project
Highlights :
➢ Fourth phase , 25,000 m drill program in progress at the Chimo Mine Gold System
(FIGURE 1) which includes the recent acquisition of the Nordeau West deposit;
➢ NI 43-101 Resource Estimate in progress for Nordeau West deposit, situated 450 m from
the Chimo Mine Project NI 43-1011 resources;
➢ NI 43 -101 Preliminary Economic Assessment (‘’PEA’’) in progress on the combined
resources of the Mine Chimo Project and Nordeau West deposit that will provide increased
flexibility to further strengthen the economics of the Chimo Mine Project.
1 : NI 43-101 Technical Report and Mineral Resource Estimate Update for the Chimo Mine Project, Québec, Canada,
Christine Beausoleil, P. Geo. and Claude Savard, P. Geo., InnovExplo Inc., May 6, 2021.
Val-d’Or, August 16, 2022 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces the
launch of the fourth phase of drilling at the Chimo Mine Project, located 45 km east of Val-d’Or.
This program, planned with 2 drills over a period of 13 months, consists of 25,000 m of controlled
directional drilling. The program aims at increasing the resources of the Chimo Mine Project and
the Nordeau Ouest deposit, as well as the potential to discover new gold zones (FIGURE 1).
The recent acquisition of the East Cadillac project integrates all the gold intersections discovered
to date form the Chimo Mine Gold System, which is currently known to extend over a distance of
10 km along the Larder Lake - Cadillac fault. The current drilling program explores a 3.7 km
segment peripheral to the underground infrastructures of the Chimo Mine, closed at the beginning
of 1997 (FIGURE 1).
“Drilling will intersect 4 of the 19 targeted gold-bearing structures at approximately 100 different
locations within the Chimo Mine Gold System, as well as additional structures that could reveal new
gold -bearing zones,” commented Philippe Cloutier, President and CEO of Cartier Resources.
Surveying of Nordeau West drill holes in July 2022, along with the NI 43-101 Resource Estimate of
the deposit, will optimize the position of the drill holes in order to increase the resources over the
first 800 m depth. The results of this work will be used to design the drilling pattern at depth below
the 800 m, which holds significant discovery potential (FIGURE 1).
The results of efforts deployed primarily on work for the drill program and resource estimates were
aimed at being rapidly integrated in the preliminary economic studies of the Chimo Mine Project to
demonstrate its economic viability.
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 $6.5 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 G eologist, Project
Manager and Geomatician, both qualified persons as defined in NI 43-101. Mr. Lavallière approved
the information contained in this press release.
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.
Composite Longitudinal Section of Chimo Mine Project Gold System: August 2022
launch of drill program