Cartier Resources

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

 

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For more information please go to the Cartier Resources website


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Everything about Cartier Resource

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

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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.

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Cartier Cuts 6.6 g/t Au over 13.0 m Along Depth Extension of Zone 6N1 Doubling Resource Potential Near Mine Infrastructure

Highlights:

  • 23.3 g/t Au over 2.0 m included within 6.6 g/t Au over 13.0 m and 7.8 g/t Au over 3.0 m, were intersected 450 m below previously announced Zone 6N1 drill results.
  • The results extend the potential for additional resources for the Zone 6N1 to a depth of 1,100 m.
  • The intersections are from two drill holes, 50 m apart, and demonstrate the continuity of gold mineralisation in the deepest expression of Zone 6N1 known to date.
  • Zone 6N1, proximal to underground infrastructure, could be rapidly accessible at low cost via additional mine development.
  • The new resource potential of Zone 6N1 is in addition to the resource potential leftover from mine closure as well as to the resource potential developed up to 1,6 km depth below the Chimo Mine workings along Zones 5.
  • 181127_6N1_Figure

VAL-D’OR, Quebec, Nov. 27, 2018 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports additional drill hole intersections grading 23.3 g/t Au over 2.0 m included within 6.6 g/t Au over 13.0 m and 7.8 g/t Au over 3.0 m on the Chimo Mine project is situated 45 Km east of Val-d’Or.  The results, intersected at a depth of 1,100 m, extend the Zone 6N1 resource potential an additional 450 m (FIGURE). Zone 6N1, which is 80 m from the underground infrastructure (FIGURE), could be quickly accessible and at low cost with additional mining development work.

The intersections are from two boreholes that are 50 m apart, demonstrating the continuity of the values and the lengths of gold intersections at depth of Zone 6N1. The Zone, which begins at the surface, is continuous at least to a depth of 1,100 m with a high probability of continuing as deep (1.6 km) as seen with Zone 5 below Chimo Mine.

These results show the quality of gold content and dimensions of the new potential of Zone 6N1.” commented Philippe Cloutier, President and CEO, adding, “this resource potential is in addition to the resource potential remaining within the underground infrastructure as well as that developed along Zones 5 to a depth of 1.6 km below the Chimo Mine sites.”

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
CH18-48W1,122.01,124.02.023.36N1
Included within1,121.01,134.013.06.6
CH18-481,152.01,155.03.07.8
Included within1,140.01,155.015.02.8

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

The Phase II drilling program currently underway (August 28th 2018 press release) and 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.

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 from 1964 to 1997 with a weighted average grade of 4.8 g/t Au.

• Mine infrastructure consists of a network of drifts distributed on 19 levels, 80 m to 870 m deep, 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 has been underway since July 2017.

• Press releases on drill results from the Chimo Mine project since beginning of program:

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 $8M 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
Investor Relations:
Relations Publiques Paradox
514 341-0408

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

A figure accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a4ff6107-24bb-4d7b-a6fc-d3af8b5f9d35

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Cartier: Brownfield Exploration Generates Gold Ounces at Chimo Mine

The great thing about brownfield exploration is that you know the gold is there. All the more so if you are exploring in one of Canada’s greatest gold districts, the Abitibi and the Val-d’Or Mining Camp.

This is why Cartier Resources (V.ECR) President and CEO, Philippe Cloutier was not surprised that drilling below the old Chimo mine, which has a shaft going down 920 meters, produced results.

In a November 12 press release, Cartier reported results from drilling conducted beneath a zone which produced 75% of the ounces, or roughly 300,000 ounces, extracted from the Chimo mine. In that release Cloutier was quoted as saying, “These new results further increase the volume of gold mineralization of interest beneath the Chimo Mine to the east, significantly increasing the potential for resource development.”

“We’re seeing continued confirmation that the main mine trend continues at depth,” said Cloutier in a telephone interview. “Every hole beneath the mine has produced the same grades and widths as they mined 25 years ago.”

Cartier’s program is drilling holes 1200 to 1800 meters deep. “We’re looking 200 to 700 meters below the bottom of the shaft,” said Cloutier. “Results from our deeper holes will be coming.”

Cartier has a huge advantage because the Chimo Mine has a 920 meters shaft in place. The shaft is flooded but dewatering is a well-understood process. The value of that shaft and the tunnels which run off it and into the mineralized zones is huge. Somewhere on the order of 100 million dollars is a reasonable estimate of what it would cost to sink such a shaft.

For Cloutier the shaft and the mineralization beneath the old mine is a start. “An estimated potential of 300,000 ounces were left over from the previous producer when the old Chimo mine shut down due to low gold prices,” said Cloutier. “when you add that to the 300,000 ounces that had been mined, one can easily see what our deep drilling was targeting” adding “with our recent deep drilling we have potentially outlined an additional 600,000 ounces at depth.”

All of which is a very good start but Cloutier wanted to look for more gold in partially explored areas proximal to the shaft. “Our new zone announced in the October 9th press release, 200 meters south of the shaft, referred to as 6N1 and another zone currently being drilled 500 meters east of the shaft along the main mine trend, which we refer to as the 5M-NE, are game changers.”

“These areas are lateral to the shaft and are part of the recently commenced Phase II drilling,” said Cloutier. “For now, the zones will be drilled up to the existing shaft depth. Mining these areas would be much more profitable than having to extend the shaft to reach the areas below its current depth. We believe this drilling could bring a potential of up to 750,000 ounces additional ounces lateral to the existing shaft.”

Expanding the gold resource at depth while also stepping out laterally means that Cartier is assembling an attractive resource package which Cloutier is confident could yield over 1.5 million ounces.

“The project has the infrastructure and power, it’s right by the highway with qualified workforce nearby,” said Cloutier.

Clearly, Cloutier is looking to develop an enviable resource potential and then find a partner for the Chimo asset. But are the larger mining companies interested?  “Large companies are known to pay the right price and know that Junior companies rarely have as much flexibility and therefore waiting is part of their approach. That said, with over 8 million dollars in the bank, this Junior is in a good position.”

“By April 2019 we’ll have drilled over 100 diamond drill holes for a total of 50,000 meters within a 500-meter radius of the existing shaft and evaluated the upside potential of 23 known gold zones, we expect to have identified a potential of 1.5 million ounces.” Adding “the work we’re doing is building confidence into the project’s future.”

It is a strategy designed to maximize shareholder value. “Take a quality legacy Gold project with valuable infrastructure, short lead time to production, a low environmental impact and a clear potential to be a profitable mine” says Cloutier “and you’ve provided the industry leaders with a much-needed product.” Cartier is investing to demonstrate the value of its Chimo asset. While Cartier could, almost certainly, drill up more ounces it is not clear that further investment would actually benefit shareholders.

“I am not happy with our share price at the moment. Our market value is certainly not a reflection of our enterprise value. However, with cash in the bank, a successful exploration program and a growing exploration asset in hand we believe our stock price will adjust at some point.”

As the ounces grow, the interest in the asset increases. With money in the bank, Cloutier can afford to wait for whatever trigger a company looking for more than a million ounces cares about. An increase in the price of gold is a traditional trigger. If gold begins to trend up, Cartier’s Chimo asset, with its comparative low start-up costs, easy brownfields permitting and a fast track to production, is likely to be at the top of the list for gold miners.

A good place to be.

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Cartier Continues to Widen Zones 5 below Chimo Mine with 14.6 g/t Au over 3.0 m within 5.8 g/t Au over 10.0 m

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports additional drill hole intersections grading 14.6 g/t Au over 3.0 m including 36.8 g/t Au over 1.0 m, 450 m below the Chimo Mine (FIGURE). These higher-grade sections are included within a section grading 5.8 g/t Au over 10.0 m included within an interval of 44.0 m grading 2.2 g/t Au. The Chimo Mine project is situated 45 Km east of Val-d’Or within the prolific Val-d’Or Mining Camp. Results continue to confirm the robustness of the gold system below the former mine.

These new results further increase the volume of gold mineralization of interest beneath the Chimo Mine to the east, significantly increasing the potential for resource development.” 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)
Cluster of Zones 5
CH17-46C1 377.01 380.03.014.65M2, 5M, 5B and 5BS
Including1 356.01 357.01.020.8
Including1 370.01 371.01.013.4
Including1 377.01 378.01.07.0
Including1 379.01 380.01.036.8
Included within1 370.01 380.010.05.8
Included within1 343.01 387.044.02.2
CH17-46BE11 246.01 247.91.95.7
Including1 246.01 247.01.07.2
Included within1 238.01 253.015.01.6
Lengths are expressed along drill core axis. The true thickness was not determined.

The deep drilling program along the depth extension of the Zone 5 cluster, which produced 75% of the ounces extracted from the Chimo Mine, was completed after 11 months of drilling. The program consisted of 20 holes totaling 10,000 m from 2 pilot holes starting at the surface. All of the holes intersected gold mineralization similar to Zones 5 of the Chimo Mine. Mineralization consists of non-refractory arsenopyrite, smoky and / or whitish quartz veins, biotite, and visible gold grains.

The Phase II drilling program is currently underway (August 28th 2018 press release) and aims to focus on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5.

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.

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 from 1964 to 1997 with a weighted average grade of 4.8 g/t Au.
  • Mine infrastructure consists of a network of drifts distributed on 19 levels, 80 m to 870 m deep, 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 has been underway since July 2017.
  • Press releases on drill results from the Chimo Mine project since beginning of program:
• October 25, 2018 – Cartier Widens Zones 5 Below Chimo Mine With…
• October 9, 2018 – New Zone 6N1 Increases Potential at Chimo Mine
• September 19, 2018 – Cartier Confirms Mineralization Continuity to a Depth of 1.6 km…
• August 28, 2018 – Cartier Ramps Up Expanded Chimo Mine Drill Program
• June 28, 2018 – Cartier Cuts 86.1 g/t Au over 1.5 m at Chimo Mine
• May 29, 2018 – Cartier Cuts 4.8 g/t Gold over 4.0 m, 525 m Below Chimo Mine
• May 16, 2018 – Cartier Cuts 6.0 g/t Gold over 3.0 m and Expands Zone 6P2 …
• March 27, 2018 – Cartier Cuts 8.5 g/t Gold over 3.5 m, 205 m Below Chimo Mine
• March 20, 2018 – Cartier Cuts 7.6 g/t Gold over 5 m, 235 m Below Chimo Mine
• March 6, 2018 – Cartier Cuts 6.5 g/t Au over 4.0 m, 165m below Zone 3 at Chimo Mine
• February 14, 2018 – Cartier Cuts 4.7 g/t Au over 5.1 m Including 17.7 g/t Au over 0.5 m…
• January 18, 2018 – Cartier Cuts 7.5 g/t Au Over 2.0 m and Extends 2B Zone …
• November 17, 2017 – Cartier Intersects 9.4 g/t Au Over 6.5 Meters at Chimo Mine
• November 7, 2017 – Cartier Intersects 7.6 g/t Au Over 3.3 Meters on Chimo …
• October 24, 2017 – Cartier Intersects 7.3 g/t Au Over 2.2 Meters on Chimo, Extends 5M4..
• January 18, 2017 – Cartier Intersects 8.2 g/t Au over 7.0 m on the Chimo Mine Property

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 $8M 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
Investor Relations:
Relations Publiques Paradox
514 341-0408

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/e51c9cf5-9df2-4386-bd82-31cb19d99bca

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Cartier Resources: Abitibi Brownfields Gold Talk-Deck Presentation

We’re posting our friend Philippe Cloutier’s Cartier Resources (V.ECR)  Talk-Deck Presentation.

We’re hoping to have lots of full corporate presentations in this exciting, new, interactive format. Along with watching this interesting presentation about brownfield exploration in Quebec’s Abitibi region, have some fun with the Talk-Deck interactions. You can skip ahead, go back to a slide or stop the presentation altogether to look closely at what you are interested in.

Just click “play video” and you’ll see a presentation in a completely interactive format.

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Cartier Confirms Mineralization Continuity to a Depth of 1.6 km at Chimo Mine

Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the Corporation) announces that it now has data which confirm the presence of gold mineralization within 20 drill holes completed between 1.0 and 1.6 km at the Chimo Mine project, located 45 km east of Val-d’Or. All holes intersected gold mineralization similar to that at Chimo Mine, to which are added the following new results: 4.7 g / t Au over 5.0 m included within 1.8 g / t Au over 16.6 m and 3.6 g / t Au over 4.0 m included 1.3 g / t Au over 17.4 m (FIGURE).

We now know that the gold mineralization is present in all places drilled under the Chimo mine thus defining the mineralized envelope” commented Philippe Cloutier, President and CEO, adding that “we are expecting over 3,500 lab results to complete the portrait of the gold potential “.  A procedure has just been put in place at the Techni-Lab laboratory (Actlabs) in Ste-Germaine-Boulé (Quebec) to speed up the processing of samples and the reception of results.

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

Drill HoleFrom
(m)
To
(m)
Length
(m)
Au
(g/t)
Cluster of Zones 5
CH17-47AW1,470.51,475.55.04.75M2, 5M, 5B and 5BS
including1,470.51,472.52.07.2
included within1,466.71,483.316.61.8
CH17-46B1,201.31,205.34.03.6
including1,201.31,202.31.08.9
included within1,187.91,205.317.41.3
included within1,187.91,233.445.50.7

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

The deep drilling program along the depth extension of the Zone 5 cluster, which produced 75% of the ounces extracted from the Chimo Mine, was completed after 11 months of drilling. The program consisted of 20 holes totaling 10,000 m from 2 pilot holes starting at the surface. All of the holes intersected gold mineralization similar to Zones 5 of the Chimo Mine (FIGURE). Mineralization consists of non-refractory arsenopyrite, smoky and / or whitish quartz veins, biotite, and visible gold grains.

The Phase II drilling program is currently underway (August 28th 2018 press release) and aims to focus on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5.

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 281 targets of the ongoing drill program. The gold structures and zones 5M2, 5M, 5B and 5BS are illustrated.

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 $10M 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
Investor Relations:
Relations Publiques Paradox
514 341-0408

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/b1cfa941-a7d7-440d-89ca-56659f0ae94e

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Cartier Resources: Brown Field Gold in the Abitibi

The great thing about “brownfields” exploration is what could be called predictable success. If you are drilling next to the shaft of a mine which was a successful gold producer it is a pretty good bet that you will hit mineralized rock.

For Phillippe Cloutier, CEO of Cartier Resources (V.ECR), the fact that Abitibi’s Chimo mine produced over 379,000 ounces of gold before closing in the face of sub $300 gold prices, is deeply encouraging. “The mine did not shut down because they ran out of gold,” said Cloutier.

Cartier has been drilling all summer. “In the summer we drill with two rigs,” said Cloutier. “We can run four in the winter. At the beginning of this summer we saw things which really tipped the balance on the property. But there are long delays at the lab as well as a lack of a workforce which slows everybody down.”

“Because Chimo is a past producer we have a wealth of legacy data,” said Cloutier. “We have precise information about the plunge of the ore shoots. So, we have been exploring some of the old zones of mineralization. We operate rather like an exploration crew at an operating mine.”

“In Phase 1 we were drilling deeper than the deepest level of the shaft. None of the zones had been drilled below the bottom of the shaft. We also had two machines which were drilling holes which circumnavigated the shaft,” said Cloutier. “Ounces proximal to the shaft have a much greater near-term value than ounces further away and even deeper ounces.”

“We were also drilling targets a few hundred meters to the south of the shaft,” said Cloutier. “We see this as a new discovery zone. There was a pocket of mineralization near the surface and another pocket 500 meters down. We drilled between the two pockets. The assays are not back yet but we saw similar rock all the way down. And we extended the deep holes and we are confident that the new zone extends to depths exceeding 1500 meters.”

Part of the Cartier drilling process is to have onsite directional drilling capacity. Essentially, Cartier has a company which specializes in directional drilling standing by to help its more traditional drillers get to their targets.

All of which led to the company’s June 28th, 2018 press release in which the company indicated that it had hit 1.5 meters of 86.1 gpt gold as well as several other very encouraging intervals.

Those results, plus the anticipated results from core still at the lab, convinced the Cartier team that Phase 2 of the drilling program needed to go ahead. “We’re looking at a total of 13,000 meters in 40 drill holes,” said Cloutier. “We’ll be drilling seven of the twenty three identified gold zones. What we are looking for are “near term” ounces.”

Here is where the strength of brown fields exploration becomes obvious. As well as the legacy data Cartier has from prior operators, it also has the main shaft and the workings of the old mine. These are filled with water at the moment, but the cost of dewatering and rehabilitating is a fraction of the cost of sinking a new shaft estimated to be close to 100 million dollars.

“The retail market is pretty indifferent to brown fields stories,” said Cloutier. “But the fact is that the shaft itself is worth millions of dollars. Ore could be sent to one of the several custom mills which are in easy trucking distance. Which means restarting Chimo will have minimal environmental impact and in turn minimal permitting issues.”

The drills for the Phase 2 drilling are already deployed. “The program will run until March of 2019,” said Cloutier. “But by October or November of 2018 it should be pretty obvious where Phase 2 is going.”

Cloutier allows that Cartier work is  maiden 43-101 resource estimate stuff. “We’re looking for new ounces to add to the ounces left by the previous operators,” said Cloutier. “But you know that the first 43-101 number is the one people remember. So, you don’t want to do it too early.”

While the retail market may not love brown field developments, senior mining companies pay close attention. Senior miners know that the technology and methods used to bring a mine back into production have improved substantially in the last twenty years. They also are well aware that the permitting issues for a brown field mine are minimal compared to a brand new green field operation.

“Seniors like to see at least one million ounces,” said Cloutier. But where those ounces are, what sort of mine workings are available, what the infrastructure is and whether there is a workforce nearby are all factors which are loaded on top of a pure resource calculation.

All of which has not been lost on Agnico Eagle which has a significant investment in Cartier. “We talk to people at Agnico regularly. They have great ideas and a lot of experience in the Abitibi.”

Exploring its brown field property at Chimo is a bit of a balancing act for Cloutier. “You want to be working for your shareholders and not the eventual owner,” said Cloutier. The more drilling Cartier does the more it derisks and therefore increases the value of the Chimo mine. With the current, depressed, junior resource market that increase in value is not being reflected in the price of Cartier’s shares. Which frustrates Cloutier, “You need a strong share price.”

There is every chance that Cartier will see an improving share price over the next few months. The price of gold seems to be firming, the junior market is showing signs of life and Cartier is awaiting the results of the numerous assays which are backed up at the lab. News from those assays will come out in the next few weeks and then there will be news from the Phase 2 drill program.

News, especially hard news about solid drill results, drives share prices. Cartier’s planned program will ensure the news keeps flowing. The rest is up to the market.

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Cartier Launches New Website

VAL D’OR, Quebec, Aug. 30, 2018 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the Corporation) announces the launch of its newly revamped website. The new website has been live for a few days now and is located at the same address: http://ressourcescartier.com.

The modernized and completely redesigned website offers visitors a clear view into the Company’s exploration progress and its potential growth.  This is an opportunity to catch up on our company’s flagship project, Chimo Mine at: https://ressourcescartier.com/projects/chimo-mine/, and explore the status and potential of additional assets.

A clean uncluttered design with improved functionality offers quick and easy access to essential information and offers a more comprehensive understanding of the Company’s exploration strategy and business development model. The website also has a comprehensive investor section with updated company news and events, financial and stock information, SEDAR filings and corporate governance information.

“Our new website will be updated on a regular basis with news of its ongoing exploration activity and corporate milestones,” states the president and CEO of Cartier Resources.

Explore the website and sign up for news from the Company at: https://ressourcescartier.com/contact/Let us know what you think.

For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com
Investor Relations:
Relations Publiques Paradox
514 341-0408

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

 

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Cartier Ramps Up Expanded Chimo Mine Drill Program

Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the Corporation) announces that it is launching an expanded and potentially “game changer” Phase II drill program on its Chimo Mine project, located 45 km east of Val-d’Or, Quebec.

Cartier President and CEO Philippe Cloutier says the Chimo Mine project Phase II drill program, which began on August 22nd, has been expanded by an additional 40 holes totalling 13,000 m, to a total of 105 drill holes for a total of 45,000 m.

« Results from Phase I drilling has led our team to design a Phase II program focussed on mineralization that we believe is the tipping point for the Chimo Mine project» commented Philippe Cloutier, President and CEO of Cartier.

« Additional drilling on newly discovered gold mineralization proximal to the shaft is a game changer for the project».  Cartier has a strong balance sheet with over $10 million on hand and a robust new program that continues to add value at the Chimo Mine project.

Phase II drilling is designed to verify, between 600 m and 1000 m depth, continuity of mineralization in 7 of the 23 gold zones currently with the greatest potential for increasing project gold resource (FIGURE).  Phase II of the drilling program is expected to continue until spring 2019.

Phase I of the drilling program, which began on July 11, 2017, was completed on August 21, 2018. This phase, consisting of 66 holes totaling 32,000 m, explored the extensions of the 23 gold zones on the property. Two deep boreholes totaling 10,000 m intersected 18 times the cluster of 4 main gold zones between 950 m and 1,525 m depth; in the extension of the sites of the former Chimo mine. Another 22,000 m was drilled at shallower depths exploring the extensions of the 19 peripheral gold zones at the main sites of the old mine.  Note that there are over 3,500 samples (30%), from Phase I drilling pending at this date.

The reader should view the 3D 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 281 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 from 1964 to 1997 with a weighted average grade of 4.8 g/t Au.

• Mine infrastructure consists of a network of drifts distributed on 19 levels, 80 m to 870 m deep, 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 has been underway since July 2017.

• Press releases on drill results from the Chimo Mine project since beginning of program:

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 $10M 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, 1000 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
Investor Relations:
Relations Publiques Paradox
514 341-0408

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

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