Cartier Resources

Cartier ResourcesCartier Resources Inc. is an exploration company focused on discovery in the prolific Abitibi Gold Belt in Quebec. 

 

Click for TMX Money Cartier Resources (V.ECR) stock price

For more information please go to the Cartier Resources website


Updates

click the headline


Press Releases

click the headline


The Stream

Everything about Cartier Resource

Cartier Cuts 7.7 g/t Au over 3.6 m in Zone 6N1 at Chimo Mine

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports drill results grading 7.7 g/t Au over 3.6 m included within a 17.1 m section grading 2.8 g/t Au.  in the Zone 6N1 of the Chimo Mine property, located 45 km east of Val-d’Or.

An intersection grading 6.5 g/t Au over 1.0 m included within a broader section of 23.5 m grading 1.3 g/t Au, were also obtained within Zone 6N1. The new results, which are situated at a depth of 800 m, are in addition to other mineralized intersections recently reported by Cartier (FIGURE) and within a 150-m radius of the new results. The potential of Zone 6N1 is open in all directions. Zone 6N1 is located only 125 m from the underground infrastructures (FIGURE).

« Current Phase III drilling is focussed peripheral to Zones 5NE, 5M4 and 6N1 where recent results from Zones 5M4 and 5NE are amongst the best grades over lengths drill hole intersections by Cartier on the project » commented Philippe Cloutier, President and CEO.

The details of the new results received from the laboratory are as follows:

Drill HoleFrom
(m)
To
(m)
Length (m)Au
(g/t)
Gold Zone Gold
Structure
CH18-48A975.5979.13.67.76N16N1
Included within962.0979.117.12.8
CH18-48B849.0850.01.06.5
Included within849.0872.523.51.3

Lengths are expressed along drill core axis.  The true thickness was not determined. The Company is currently building wireframes for the 24 mineralized zones and existing infrastructure of the former Chimo Mine in order to determine the dimensions of each mineralized zone as accurately as possible.

Current Phase III drilling is focussed on expanding the dimensions of gold-bearing Zones 5NE, 5M4 and 6N1 as they are proximal to existing mine infrastructures.

Chimo Mine Project Highlights

  • The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • Cartier owns 100% interests of the property.
  • Year-round access by road, proximal to 6 custom mills.
  • Gold mineralized material was mined intermittently from 14 zones by 3 different producers.
  • Mine infrastructure consists of a network of drifts distributed on 19 levels, connected by a 3-compartment shaft 965 m deep. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.

About Cartier

Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2018, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Cartier Investment Highlights

  • The Corporation has a strong cash position with over $6.5M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects that have an exploration potential for rapid expansion.
  • The Corporation holds a portfolio of exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
  • The Corporation is focused on advancing its four key projects through drill programs.  All of these projects were acquired at very reasonable valuations over the past few years.  All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.
  • Phases I and II, carried out by Cartier on the Chimo Mine project, consisted of 105 holes for a total of 47,588 m. This work demonstrated the continuity of the main 5B and 5M gold zones beneath the existing mining infrastructures, explored the extensions of 19 gold zones peripheral to the main zones and further explored the extensions of the 7 prioritized gold zones; which led to the discovery of Zone 5NE as well as to expand the potential of Zones 6N1 and 5M4.

Quality Assurance / Quality Control

All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile 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 atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

 

Posted in featured_news | Tagged , , , , , , , | Leave a comment

Cartier Resources: 2019 is Chimo’s year

We’ve reported the progress of Cartier Resources (V.ECR) at its Chimo Mine project in Val-d’Or Quebec. It is a story which actually began long before Cartier acquired the rights to the mine.

The mine was a past producer having yielded 379,012 ounces of gold before it was shut down in 1997. During its productive life, a 965-meter shaft was sunk and a network of drifts are distributed over 19 levels. While this is flooded, it represents significant, pre-existing, infrastructure. It is a lot cheaper to dewater a shaft than to dig a new one.

Philippe Cloutier, President and CEO of Cartier, is fond of pointing out that the Chimo mine did not close because it ran out of gold, it closed because the price of gold made mining it uneconomic. The price of gold has recovered since 1997 and this makes the Chimo Mine project an opportunity.

Which Cloutier sees as a good start.  “With a former producer you get a database and the infrastructure,” said Cloutier. “There is a nearby workforce, power” Adding, “factor that with undeniable gold endowment and the future looks bright”

The key to making Chimo a mine again is not only the gold which was left when the mine was closed, but also it is the gold structures which surround the shaft but which were only minimally explored when the mine was in operation. Finding and drilling those structures has been Cartier’s mission for the last two years.

“We have two years of work into the Chimo,” said Cloutier. “We’ve drilled 105 holes for a total of over 47,000 meters. We’ve demonstrated the extension of known gold zones. And we’ve found and drilled new gold zones.”

Cloutier knows that having an old mine was not enough. There are plenty of old mines in the Abitibi. What Cartier needed to do was to add ounces to the old mine and to provide a geological model which reflects the extended gold endowment which surrounds the Chimo shaft.

Cartier planned its work in phases. The first phase was designed to prove by drilling that there was mineralization below and beside the old workings. Cloutier was not surprised that Phase One delivered. Mines in the Abitibi tend to run deep and new mines have been redeveloped right under past producers. The drill holes beside the old workings were successful because they traced structures that were understood, but not explored or developed, by previous operators. Obviously, the closer to the older workings the new discoveries were, the more economic the gold they contained would be.

Phase Two of the drilling was more speculative. Working with the old database and its own mapping and structural analysis, Cartier had identified a number of targets which stood off from the old mine. Some were quite close, others were up to five hundred meters away. We reported on the early Phase Two results back in November.  With all the results now in, Cartier is able to include many of its Phase Two targets in its understanding of the Chimo mine.

“Our drilling will continue with Phase Three,” said Cloutier. “And we are now moving on to building a wireframe of the 24 known mineralized gold zones on the property.”

Building a wireframe model of a deposit is an integral part of the 43-101 Resource Estimate process. Essentially you develop a computer model which takes into account the all drill hole results on the project to date. This, in turn, is part of the package which is turned over to an arm’s length, third party, consultant who actually produces the Resource Estimate.

The challenge for Cartier and Cloutier is when to pull the trigger on the 43-101 because once that Resource Estimate is published it becomes the reference point for future evaluation of the project.

“We have always under promised and over delivered,” said Cloutier. “To this point, we have been about getting the foundational stuff right. Only recently have we been creating a bit of a dream. Phase Three of our drilling is designed to keep building the dimensions of the mineralized zones.”

Cloutier is often asked, “Why drill more now?”

It is a good question and it goes to the heart of the exploration equation. While it is possible that Cartier could develop the Chimo mine itself, it is more than a little unlikely.

“At PDAC this year one dominant theme was M&A. It was all about the financial element and deal-making,” said Cloutier. “Which is all the better for Cartier. There could be very rewarding opportunities for our project and company.”

Even with the existing shaft and drifts, it is going to take a lot of money to bring the Chimo mine back into production. That implies that Cartier will have to come up with strategic alternatives.

For Cloutier. “The progress on the Chimo Mine project since 2017 has been steady and sure.  Success in 2019 will be measured by how we can unlock the value all that work has created.”

Posted in article | Tagged , , , | Leave a comment

Phase III Drilling Targets to Expand Zones on Chimo Mine Project

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports that Phase II drilling has been completed and that a Phase III has commenced on the Chimo Mine property, located 45 km east of Val-d’Or.

To date, Phases I and II drilling completed by Cartier on the Chimo Mine property consisted of 105 drill holes for a total of 47,588 m.  This work reached 3 objectives:

  1. Demonstrate the continuity of the main gold-bearing Zones 5B and 5M below the existing mine infrastructures (Phase I), by completing 20 drill holes for a total of 10,113 m (FIGURE).

    Best results previously disclosed1:
    14.6 g/t Au / 3.0 m incl. within 5.8 g/t Au / 10.0 m incl. within 2.2 g/t Au / 44.0 m and 7.6 g/t Au / 5.0 m incl. within 2.3 g/t Au / 19.0 m.

  2. Explore the extensions of 19 gold zones peripheral to the main zones (Phase I), with 52 drill holes for a total of 24,219 m.  The results1 led to prioritizing 7 gold zones for additional drilling.
  3. Explore the extensions of 7 prioritized gold zones (Phase II); which led to the discovery of the new Zone 5NE and indicating the additional potential of Zones 6N1 and 5M4 (FIGURE), from 33 drill holes for a total of 13,256 m.

    Best results previously disclosed1:
    Zone 5NE: 10.6 g/t Au / 6.0 m incl. within 4.5 g/t Au / 21.0 m incl. within 2.5 g/t Au / 57.0 m and 12.4 g/t Au / 5.0 m incl. within 5.9 g/t Au / 12.0 m incl. within 2.0 g/t Au / 45.5 m and;
    Zone 6N1: 23.3 g/t Au / 2.0 m incl. within 6.6 g/t Au / 13.0 m and 7.8 g/t Au / 3.0 m incl. within 2.8 g/t Au / 15.0 m.

Lengths are expressed along drill core axis.  The true thickness was not determined. The Company is currently building wireframes for the 24 mineralized zones and existing infrastructure of the former Chimo Mine in order to determine the dimensions (thickness) of each mineralized zone as accurately as possible.

1A Table (refer to Cartier website – Chimo Mine projects section) presents a compilation of all results, reported via press releases from drilling on the project since July 2017.

“Recent results from Zones 5NE, 5M4 and 6N1 indicate an excellent potential to rapidly expand the dimensions of these 3 gold zones proximal to existing mining infrastructure,” commented Philippe Cloutier, President and CEO.

Chimo Mine Project Highlights

  • The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • Cartier owns 100% interests of the property.
  • Year-round access by road, proximal to 6 custom mills.
  • Gold mineralized material was mined intermittently from 14 zones by 3 different producers.
  • Mine infrastructure consists of a network of drifts distributed on 19 levels, connected by a 3-compartment shaft 965 m deep. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.

About Cartier
Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2018, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Cartier Investment Highlights

  • The Corporation has a strong cash position with over $6.5M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects that have an exploration potential for rapid expansion.
  • The Corporation holds a portfolio of exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
  • The Corporation is focused on advancing its four key projects through drill programs.  All of these projects were acquired at very reasonable valuations over the past few years.  All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.

Quality Assurance / Quality Control
All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile 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 atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

Posted in featured_news | Tagged , , , , , | Leave a comment

Cartier Cuts 10.6 g/t Au over 6.0 m in New Zone 5NE at Chimo Mine

Highlights:

  • These results from Zone 5NE are the best from Cartier drilling on the project considering the high grades factored over the core lengths that were intercepted.
  • Phase II drilling is underway and Phase III will test the extensions of the new Zone 5NE.

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports drill results grading 10.6 g/t Au over 6.0 m included within 4.5 g/t Au over 21.0 m both included within a 57.0 m section grading 2.5 g/t Au.  As well, a section grading 7.5 g/t Au over 4.0 m is included within a 13.0 m section grading 3.2 g/t Au (FIGURE).  All of these results are in the Zone 5NE of the Chimo Mine property, located 45 km east of Val-d’Or.

The new results, which are situated at a depth of 650 m, are in addition to: 12.4 g/t Au over 5.0 m included within 5.9 g/t Au over 12.0 m (FIGURE), recently reported by Cartier, and within a 100-m radius of the new results. The potential of this area is open in all directions. Zone 5NE is located only 25 m from the 5M4 Zone and 450 m from the existing underground infrastructure at this depth (FIGURE).

« The results recently obtained from Zones 5NE and 5M4 will monopolize the first part of the Phase III drill program in order to explore the continuity of the zones » commented Philippe Cloutier, President and CEO.

The details of the new results received from the laboratory are as follows:

Drill HoleFrom
(m)
To
(m)
Length (m)Au
(g/t) 
Gold ZoneGold Structure
CH18-52A1E702.0708.06.010.65NE5N
Included within702.0723.021.04.5
Included within698.0755.057.02.5
CH18-52A1720.0724.04.07.5
Included within711.0724.013.03.2
Included within702.9754.551.61.6
CH18-52A1E777.8778.50.733.05M45M
Included within777.8798.620.82.4
CH18-52A1798.5799.00.512.6
Included within774.0799.825.81.0

Lengths are expressed along drill core axis.  The true thickness was not determined.

The Phase II drill program currently underway is focused on testing the potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.

The reader should view the YouTube VIDEO, available on Cartier’s website.  The 3D video helps visualize the different gold-bearing structures on the Chimo Mine property as well as key components that are the mine infrastructures, the gold-bearing zones, the gold intersection areas left unmined as well as the main targets of the ongoing drill program.

Chimo Mine Project Highlights

  • The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • Cartier owns 100% interests of the property.
  • Year-round access by road, proximal to custom mills.
  • Gold mineralized material was mined intermittently from 14 zones by 3 different producers.
  • Mine infrastructure consists of a network of drifts distributed on 19 levels, connected by a 3-compartment shaft 965 m deep. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.
  • A 105-hole drill program totaling 45,000 m (Phases I and II) has been underway since July 2017.

About Cartier
Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Cartier Investment Highlights

  • The Corporation has a strong cash position with over $7.5M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects that have an exploration potential for rapid expansion.
  • The Corporation holds a portfolio of exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
  • The Corporation is focused on advancing its four key projects through drill programs.  All of these projects were acquired at very reasonable valuations over the past few years.  All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.
  • In 2019, an ongoing program of 105 holes totaling 45,000 m (Phases I and II) aims to test the extension of several gold mineralized zones on the Chimo Mine Project.

Quality Assurance / Quality Control
All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile 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 atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e7105112-b1e1-4110-aabd-67ce53904d5f

Posted in featured_news | Tagged , , , , | Leave a comment

Cartier Update

Cartier Resources’ (V.ECR) most recent press release on the “deep results” from its drilling of target 6N1 at the Chimo Mine in Quebec just confirmed what Cartier CEO Philippe Cloutier had anticipated.

“This was exactly what we expected,” said Cloutier who was in Vancouver for Roundup. “When you have a past producer, when you have a robust dataset, it takes out the risk. These results are in line with everything else we’ve been finding.”

The press release reports on the deepest of the holes drilled in 6N1 going as deep as 1,100 meters.  “These were the pilot holes,” explained Cloutier. “We then drilled branch holes upwards from there and we are waiting on assays for those holes.”

These holes were part of what Cloutier calls Phase II of the Cartier drilling program. Phase II is all about looking at targets some distance away from the existing mine shaft.  Cloutier expects Phase II to be completed by the end of March and then a third Phase of drilling will commence.

“People are expecting that our work will lead us to do a 43-101 resource estimate report,” said Cloutier. “And we are working towards that. But we want the maiden resource estimate to reflect the value proposition at Chimo. We’re getting the results we expected. We don’t want to rush the 43-101. We don’t want to blotch the job in the last ten yards.”

Which may mean that Cartier will actually produce an initial Resource Estimate and then build on that with additional estimates that reflect the enhancement from its other targets that are being drilled off in the Phase II and then Phase III programs as assays are received.

Strategically this could make a lot of sense as it will create excellent news flow and ensure that the resource estimates are rock solid. Rushing to a 43-101 can actually hurt a company if it has to characterize too many of its ounces indiscriminately. Careful drilling and a conservative approach to the initial resource estimate will add the value Cloutier believes is at Chimo and respect investor expectations.

In every interview I have done with Cloutier he has always been consistent in his approach to building value at Chimo. The company knows there is gold in the old mine. It knows there is gold very near the old mine and it knows that there is gold in the step out targets it has drilled a few hundred meters from the old mine. “We’re repeating the proof of concept and Chimo just keeps delivering.”

Which is how you build value in a brownfield gold project.

Posted in update | Tagged , , , | Leave a comment

Cartier Cuts 5.7 g/t Au over 6.0 m in Zone 6N1 at Chimo Mine

Highlights:

  • The new results, located at a depth of 1,100 m, widen Zone 6N1 whose potential is open in all directions (FIGURE).
  • Phase II drilling is underway and Phase III is in preparation to ensure uninterrupted continuation of the program.

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports drill results grading 5.7 g/t Au over 6.0 m including 11.4 g/t Au over 2.5 m and 6.7 g/t Au over 1.0 m included within a 13.0 m section grading 2.0 g/t Au in Zone 6N1 of the Chimo Mine property, located 45 km east of Val-d’Or.

The new results, which are situated at a depth of 1,100 m, are in addition to: 23.3 g/t Au over 2.0 m included within 6.6 g/t Au over 13.0 m (FIGURE), reported by Cartier in the fall of 2018, to form a group of 4 gold-bearing intersections 50 m from one another. These drill hole intersections are spread over a width of 150 m of Zone 6N1, known to date, at this depth. The potential of this area is open in all directions. Between the surface and the depth of the shaft at 965 m, Zone 6N1 is located only 125 m from the underground infrastructures (FIGURE).

« The recent results reported from Zones 6N1, 5M4 and 5NE justify the continuation of the project’s drill program with a Phase III » commented Philippe Cloutier, President and CEO.

The details of the new results received from the laboratory are as follows:

Drill HoleFrom
(m)
To
(m)
Length (m)Au
(g/t)
Zone Gold 
Gold Structure 
CH18-48E1,174.01,176.52.511.46N16N1
Included within1,174.01,180.06.05.7
CH18-48W21,146.01,147.01.06.7
Included within1,141.01,154.013.02.0

Lengths are expressed along drill core axis.  The true thickness was not determined.

The Phase II drill program currently underway is focused on testing the potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.

The reader should view the YouTube VIDEO, available on Cartier’s website.  The 3D video helps visualize the different gold-bearing structures on the Chimo Mine property as well as key components that are the mine infrastructures, the gold-bearing zones, the gold intersection areas left unmined as well as the main targets of the ongoing drill program.

Chimo Mine Project Highlights

  • The Chimo Mine produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
  • Cartier owns 100% interests of the property.
  • Year-round access by road, proximal to custom mills.
  • Gold ore was mined intermittently from 14 zones by 3 different producers
  • Mine infrastructure consists of a network of drifts distributed on 19 levels, connected by a 3-compartment shaft 965 m deep. The headframe and surface facilities were dismantled in 2008 but the electrical line and the sand pit are still present.
  • A 105-hole drill program totaling 45,000 m (Phases I and II) has been underway since July 2017.

About Cartier

Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Cartier Investment Highlights

  • The Corporation has a strong cash position with over $7.5M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects that are relatively advanced with significant exploration potential.
  • The Corporation holds a portfolio of exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
  • The Corporation is focused on advancing its four key projects through drill programs.  All of these projects were acquired at very reasonable valuations over the past few years.  All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.
  • In 2019, an ongoing program of 105 holes totaling 45,000 m (Phases I and II) aims to test the extension of several gold mineralized zones on the Chimo Mine Project.

Quality Assurance / Quality Control

All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile 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 atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:

Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

Posted in featured_news | Tagged , , , | Leave a comment

Cartier Resources: Stepping out from the Headframe

The great advantage of a brownfields project, within the shadow of a previous mine’s headframe, is you are almost certain to find gold. But is that enough?

The Chimo Mine in the Abitibi gold belt closed because the price of gold fell far enough that the mine was no longer economic. There was still gold in the mine when it was finally closed in 1997. It was a very good bet for Philippe Cloutier and his team that, like many mines in the Abitibi, drilling for mineralization under the 900-meter mine shaft would be successful. It was also a good bet that drilling in structures which were near the shaft but which had not been mined would also bring good results.

“We were not surprised to find mineralization under the mine or near the mine,” said Philippe Cloutier, President and CEO of Cartier. “The upside of the mineralization we are intersecting is attractive simply because the shaft and the old workings of the mine were already in place. Instead of spending what could easily run to 100 million dollars sinking a new shaft, an operator could dewater and recommission the old mine and get to the gold.”

What was more interesting to Cartier were targets which had been identified at some distance away from the shaft. This figure from an August 28, 1019 press release indicates the targets:

V.ECR, Cartier Resources, gold, Quebec, Chimo Mine

 

The mineralized zones run East to West. Targets which had had some drilling as of August are indicated in red, yellow indicates targets which had been drilled earlier. The challenge was to demonstrate that there was significant mineralization in addition to the mineralization which Cartier knew existed in, and very near, the old mine.

“Zone 5M4 is four hundred and fifty meters out from the shaft,” said Cloutier. “And the yellow line right behind it we call Zone 5NE. Its another “tip of the ice berg”.

The mineralization at Chimo is in “lenses” or, as Cloutier puts it, “easy follow-up targets”. Essentially these are sharply angled three-dimensional areas running East to West which contain gold. The drilling challenge is to figure out how wide these lenses are and how thick and, of course, how deep they go.

Cartier’s initial drilling at Chimo consisted of numerous diamond drill holes focused on the identified targets. But it was largely shallow drilling: most holes tested above 400 meters.

“At 5M4 we have gone beyond “proof of concept”, said Cloutier. “We’re seeing that this is not all that different from the other lenses on the property.”

The target 5NE is behind 5M4 and represents another lens.

In its most recent press release Cartier reported results from deeper holes which intersected both 5NE and 5M4. As is typical in the Abitibi, the lenses extend at depth and the grades seem to be going higher.

“We expected to find mineralization continued all the way down,” said Cloutier. “What we are trying to do with our exploratory drilling is deliver results with intersections grading gold in the right places.”

There is a fine balance to this sort of exploration. On the one hand, there is an abundance of targets to drill, on the other, Cartier has to consider costs and, most importantly, audience.

“We are really drilling for engineers,” said Cloutier. While Cartier has two drills running 24/7 Cloutier is in no rush to put out a 43-101 resource estimate.

“We get asked all the time, “When is the 43-101”. We have invested a lot of time and effort in the design of a robust and optimal drill program “in the shadow of a headframe”,  and we are regularly rewarded with good results and it is only a question of time until we deliver on that outcome,” said Cloutier.

“However, when third parties review the data,” said Cloutier. “we don’t want questions left unanswered.”

“This project was served on a silver platter,” said Cloutier. “Our job is to drill the holes in the most useful places and hope people will connect the dots ”

When Cloutier is satisfied that the identified targets have been properly drilled then it may be time for a 43-101 Resource Estimate. “We want to see how deep targets like 6N1 (Update: 6N1 appears to go very deep. Results were reported 29 January 2019 which indicated 11.4 g/t Au over 2.5 m and 6.7 g/t Au over 1.0 m included within a 13.0 m section grading 2.0 g/t Au at a depth of 1100 meters.) and 5M4-5NE go. At the same time, we don’t want to “over drill” the project,” said Cloutier.

“At the right time we will bring in the third party consultant to evaluate the resource,” said Cloutier. “We’ll wait until we are sure we’ll have a really good 43-101. Otherwise, why would I anchor the company with a number which was too low?”

Cartier is building out an asset that mining engineers can understand and value. That’s where the money is.

Posted in article | Tagged , , , , | Leave a comment

Retraction and Clarification of Disclosure in January 15, 2019 News Release

At the request of IIROC, the Company wishes to retract and clarify certain disclosure in its January 15, 2019 news release.  Specifically, the disclosure “doubling resource potential” is a violation of NI 43-101, 2.3(1)(a) – Restricted Disclosure, as “resource potential” is not a recognized term for Canadian securities legislation, nor can “resource potential” be “doubled” and is therefore misleading.  All references to “resource potential” and “doubling resource potential” are retracted.  The drill results disclosed in the news release should have been disclosed as exploration results and are accordingly clarified in this release.

VAL-D’OR, Quebec, Jan. 15, 2019 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports exploration results in compliance with NI 43-101, 3.3 – Requirements Applicable to Written Disclosure of Exploration Information, the following: drill results grading 12.4 g/t Au over 5.0 m included within 5.9 g/t Au over 12.0 m and within a broader section of 45.5 m grading 2.0 g/t Au on the Chimo Mine property, located 45 km east of Val-d’Or. The new 5M4 Zone returned 15.8 g/t Au over 1.0 m included in 2.2 g/t Au over 22.0 m. The position of the intersections, at a depth of 700 m, extends the mineralized Zones 5NE and 5M4 350 m (FIGURE) below previous drill intersections.

Zones 5NE and 5M4, located at the eastern end of the property, are only 25 m apart. The drill hole intersection of 2.0 g/t Au over 45.5 m generates a metal factor of 91, which offers additional options for considering an economic outlook. These new zones could be accessible via 450 m of development from existing mining infrastructures. The FIGURE illustrates the shape of the mineralized zones known to date at Chimo Mine and ongoing exploration aims to further increase their dimensions.

« The results obtained so far confirm the importance of continuing to explore this project in order to increase the number of mineralized gold zones as well as their dimensions. » commented Philippe Cloutier, President and CEO.

The details of the new results received from the laboratory are as follows:

Drill HoleFrom
(m)
To
(m)
Length
(m)
Au
(g/t) 
Gold ZoneGold Structure
CH18-52E1768,0773.05.012.45NE5N
Included within761.0773.012.05.9
Included within740.5786.045.52.0
CH18-52E1813.0814.01.015.85M45M
Included within805.0827.022.02.2
CH18-52758.0759.01.010.95NE5N
Included within757.0772.915.91.6
Lengths are expressed along drill core axis.  The true thickness was not determined.

The Phase II drilling program currently underway is focused on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.

About Cartier

Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Quality Assurance / Quality Control

All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile 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 atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a0c27765-1068-4742-82fa-48770e9b126f

Posted in featured_news | Tagged , , , | Leave a comment

Cartier Cuts 5.7 g/t Au over 4.0 m in Zones 5 Below Mine Infrastructure Doubling Resource Potential

Highlights:

  • New results returned 14.4 g/t Au over 1.5 m included within 5.7 g/t Au over 4.0 m were intersected within Zones 5, at a depth of 1 500 m (FIGURE).
  • The results add to the intersections from holes CH17-46 and 47 reported on the FIGURE and demonstrate the spatial continuity of gold grades and widths within Zones 5 below the existing Mine infrastructure.
  • The position of the intersections extends the potential for resources of Zones 5 over a length of 700 m below the past producing Chimo Mine.
  • The new resource potential of Zones 5 is in addition to the resource potential leftover from mine closure as well as to the resource potential identified from Zone 6N1.

VAL D’OR, Quebec, Dec. 11, 2018 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports additional drill hole intersections grading 14.4 g/t Au over 1.5 m included within 5.7 g/t Au over 4.0 m.  The position of the intersections, intersected within Zones 5 at a depth of 1 500 m, extends the potential for resources of Zones 5 over a length of 700 m below the past producing Chimo Mine, situated 45 Km east of Val-d’Or.

The results add to the intersections from holes CH17-46 and 47 and demonstrate the spatial continuity of gold grades and widths within Zones 5 below the existing Mine infrastructure. The new resource potential of Zones 5 is in addition to the resource potential leftover from mine closure as well as to the resource potential identified from Zone 6N1. The latter, drilled to a depth of 1 100 m, shows excellent potential to extend as deep as Zones 5 while being laterally accessible at a distance of 80 m.

On the FIGURE, the black surface represents roughly 300 000 ounces of gold mined commented Philippe Cloutier, President and CEO, adding, “the orange colored surface shows the new unmined resource potential of Zones 5.”

The details of the new results received from the laboratory are as follows:

Drill HoleFrom
(m)
To
(m)
Length
(m)
Au
(g/t)
Zones 5 Gold Cluster
CH17-47BW1,603.01,607.04.05.75M2, 5M, 5B and 5BS
including1,604.61,606.11.514.4
and1,526.21,531.04.83.0
including1,530.01,531.01.010.4
CH17-47B1,620.01,623.03.03.3
including1,620.01,621.01.07.9
CH17-47BE1,593.01,603.010.01.0
including1,602.01,603.01.03.4

Lengths are expressed along drill core axis.  The true thickness was not determined.

The Phase II drilling program currently underway is focused on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.

The reader should view the YouTube VIDEO, available on Cartier’s website.  The 3D video helps visualize the different gold-bearing structures on the Chimo Mine property as well as key components that are the mine infrastructures, the gold-bearing zones, the gold intersection areas left unmined as well as the main targets of the ongoing drill program. The gold structure and zone 6N1 is illustrated.

Grants Stock Options
The Company announces that the Board of Directors granted, on December 10th 2018, a total of 1,300,000 stock options to directors, officers, and one employee of the Company. Pursuant to the terms of the Company’s stock option plan, each option grants the holder of such option the right to purchase a common share of the Company at a price of $0.13 per share no later than December 9th, 2023.

Chimo Mine Project Highlights

About Cartier

Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec.  Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government.  In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.

Cartier Investment Highlights

  • The Corporation has a strong cash position with over $8.5M in the bank and important corporate and institutional investors including Agnico Eagle Mines, JP Morgan UK and the Quebec investment funds.
  • Cartier’s strategy is to focus on gold projects that are relatively advanced with significant potential for resource expansion laterally and at depth.
  • The Corporation holds a portfolio of advanced stage exploration projects in the Abitibi Greenstone Belt in Quebec – one of the most prolific mining regions in the world – the commodity focus is gold.
  • The Corporation is focused on advancing its four key projects through drill programs.  All of these projects were acquired at very reasonable valuations over the past few years.  All of them are drill-ready with targets identified similar to the deposits that have been outlined on each project.
  • The Chimo Mine project is a historic gold producer. Three other projects, namely Wilson, Benoist and Fenton, hold historic resource estimates.
  • In 2018, an ongoing program of 105 holes totaling 45,000 m aims to enhance the resource development potential at Chimo Mine.

Quality Assurance / Quality Control

All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile 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 atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the “Metallic Sieve” method.

The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources.  Mr. Lavallière is a qualified person as defined by National Instrument 43-101.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e908fc5d-c2bd-4105-8d37-349c10ac8054

Posted in featured_news | Tagged , , , , | Leave a comment

Cartier Resources Update: The New 6N1 Discovery – Drill to Kill Approach

Investors know that junior exploration companies are risky; what they often don’t know is that many juniors are not risky enough.

Finding gold ounces is a matter of knowing the geology of the area you are looking in and sticking close to existing or past producing mines, or as the old adage has it “exploring in the shadow of a headframe”. In the Abitibi gold belt, literally looking under old mines is a very good bet.

With it’s November 27 Press Release Cartier Resources (V.ECR) introduces a “gamechanger” for its flagship Chimo Mine project.  The press release reports results from two, deep, holes in what the company calls its 6N1 target. The mineralized zone starts at surface and now is clearly shown to extend down to 1,100 meters. Cloutier, CEO at Cartier says “our team has just been rewarded for taking a risk that others thought would “kill the target”.”

Let’s back up a bit. Cartier has a dual strategy when it comes to drilling its flagship Chimo Mine project.  Drilling deep along the historically profitable Mine trend, and, drilling deeper on known but lesser explored gold zones accessible laterally from current Mine infrastructure.  The company’s challenge is managing the risk to reward of its ongoing robust brownfields drill program.  Here is part of the issue: deep ounces are expensive. Going down several hundred meters from an existing shaft piles up the CAPEX of a potential mine. That up-front cost is often hard to justify for deep ounces even if the drill absolutely confirms the ounces are there. However, drilling deep into known structures can be attractive and represents what looks like a low-risk drilling strategy.  So, Cartier thought they would balance that approach with an appropriate amount of higher risk – higher reward targeting.

A much higher risk drilling strategy is to drill where your historical data and geological model suggests there are more accessible ounces. For Philippe Cloutier, CEO of Cartier Resources, finding unmined ounces in the Chimo mine was a beginning. Drilling structures below the 900 meter shaft of the mine followed up that beginning and confirmed the logic of the known geological structure. Cartier could have continued to drill at depth in the same structure for years and added more and more deep ounces to its inventory.

Unfortunately, that sort of “safe”, quite predictable, program is not likely to bring significant returns to investors. Because investing in junior explorers is about discovery, not confirmation. And discovery means finding new ounces which can be mined near term with a relatively low CAPEX. Those are the ounces which will add shareholder value.

Which brings us to the concept of “drill to kill”. If a company believes that a particular target has new ounces there is only one way to find out: drill the target. Of course, the problem here is that the company may be wrong. For cautious managements, the potential impact of a “miss” on the company’s ability to raise next year’s funding makes drilling for fresh discovery seem too risky. But this caution is a great disservice to an exploration company’s shareholders.

The opposite strategy, drilling to prove or disprove a geological hypothesis, creates a much higher risk profile but it also creates a much more significant upside potential. And that is why the new deep 6N1 drill results changes the game for the Chimo Mine project.

The great advantage of the 6N1 target is that it is a mineralized structure which is only 80 meters away from the old Chimo mine workings. Drifting 80 meters is, relatively speaking, cheap. Which means that the ounces in 6N1 are both a new discovery and the sort of ounces which will warm the heart of even the most sceptical of mining accountants.

In principle, every ounce of gold in a deposit has a value, but some are worth much more than others.

With the strong results at depth from the 6N1 target, Cloutier might be permitted an “I told you so.” In fact, however, the company believe they have a secured bet with the ongoing Phase II drilling program which is testing 7 zones even further away from known mineralization including the furthest of all, 5M4.

Cloutier is expecting the results from further drilling in the 6N1 structure and in the more distant target areas in the next couple of months.

“This is the tipping point,” said Cloutier. “Now mining companies should “think Cartier” when they are looking for good gold ounces in an established mining camp.”

While Cloutier has to wait for the actual assays from the drill program, he likes what he sees coming from the two drills on site.

When you “drill to kill” and hit what you are looking for, you are creating real value for shareholders. You are confirming the new, mineralized, structures which make an old mine all the more attractive.

Posted in article | Tagged , , , , | Leave a comment