Dundee Precious Metals

Dundee Precious MetalsDundee Precious Metals (T.DPM) is a Canadian-based international mining company engaged in the acquisition, exploration, development, mining and processing of precious metal properties. Our current operations are in Namibia and Bulgaria, with exploration in Armenia, Bulgaria and Serbia.

 

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Cartier Resources: Building Economic Gold Ounces at Chimo, Quebec

There are huge advantages to a brownfield project. Past producing mines come with a valuable legacy of geological and engineering data that is backed by production numbers and, sometimes, leftover mineralization.  On the Chimo Mine project this is the case since the mine was closed due to weak gold prices and not lack of mineralization.  Factor that in with underground infrastructure that can be readily rehabilitated and it becomes a manageable challenge to prove up the “blue sky”. That’s what Cartier Resources (V.ECR) has been up to in the last two years.

Cartier’s most recent press release confirms that there is, indeed, mineralization at depth in the newly discovered structures. Cartier’s CEO commented, “These new results, highlight the importance of prioritizing continued exploration of Zones 5M4 and 5NE in order to maximize the potential of drill results previously reported in the main Zones 5B and 5M.” (See Figure)

“The release was all about the success of a pilot hole and it’s branches” explained Cloutier. “We were trying to widen the zone by using directional drilling. Same hole, multiple intersections and they are all drilled from the same collar. These results demonstrate that our new discovery continues at depth and it gives the new zone some width.” Adding, “there is all the reason to expect that this zone will extend at depth as the main mine plunge did in Phase I drilling.”

“This is the same gold structure as the mine,” said Cloutier. “Same metallurgy, same rock mechanics. And the new structure extends at depth, gets wider and is showing better grades.”

You have to look carefully at the figures to understand just how significant these results may prove to be. If a company was planning to re-open the Chimo mine it would want to know that there was enough mineralized material within a reasonable distance from the current shaft to make the mine profitable. While the new results are at 1000 meters depth, the mineralized intervals are only a few hundred meters from existing infrastructure.

“Our peers understand this,” said Cloutier. “Local producers get it.”

“Our Phase One drilling was proof of concept,” said Cloutier. “We wanted to confirm that the mine trend continues at depth, which we did. And we wanted to confirm that there were lateral extensions, which we also did. Phase Two was looking for additional mineralized structures relatively close to the shaft. We thought they were there and we found them.”

“Phase Three, where we are now, is looking to confirm that the new mineralized structures continue on down to shaft depth and more!” said Cloutier. The other thing the new results indicate is that the new discovery has a “tilt” and that tilt is towards the old shaft and workings. Essentially, as Cartier had drilled deeper its intersections have been getting closer and closer to the existing infrastructure. Naturally, Cloutier hopes that further drilling will bring the new discovery even closer to the existing infrastructure.

Cloutier, CEO of Cartier Resources, knows all this which is why Cartier bought the Chimo Mine located 45 km east of Val-d’Or, Quebec. “We know the metallurgy and the rock mechanics because they are identical to the old Chimo mine,” said Cartier. “The anticipated CAPEX is very low because there is already a shaft. There is a skilled workforce nearby and mills to process the Chimo rock are just down the road.”

The key question any potential acquirer or joint venture partner needs to answer is how many economic ounces are there on the Chimo project. It is a question which involves both a resource estimate and the ability to accurately map where the resources are relative to the existing shaft and drifts.

Cartier has been fortunate to have had significant support from its investors which include Agnico Eagle. “In a prolonged bear market, we continued to drill. Now is the time for modelling of all the new data generated and comparing its behaviour to previous mining,” said Cloutier.

“We are in the process of completing the wireframes for all the mineralized zones on the project as well as the wireframes for what was previously mined, the results will help the Resource Estimate,” said Cloutier.

In many ways, however, the traditional 43-101 resource estimate is not likely to actually capture the value of the combination ounces in the ground and their proximity to a well developed, albeit flooded, mine. A decent sized resource from 500 to 1200 meters below the surface may not be economic if a company has to sink a shaft that deep to mine it. However, those same ounces adjacent to an easily dewatered mine shaft and tunnels could become very economic indeed.

Chimo’s potential to become the next mine is becoming better known in the local producing community. “finding new ounces is always a challenge but when one does, finding the organization with a strategic interest and ability to pay, generally follows,” said Cloutier.

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Cartier Purchases NSR Royalty for Chimo Mine Property

Cartier Resources Inc. (TSX-V: ECR) reports it has purchased from Louvem Mines Inc. a 2% NSR (Net Smelter Return) royalty for the Chimo Mine property, located 45 km east of Val-d’Or, in consideration for a purchase price of CDN $350,000.

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.

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White Gold Corp. Commences 17,000m Diamond Drill Program on the JP Ross and White Gold Properties

White Gold Corp. (TSX.V: WGO, OTC – Nasdaq Intl: WHGOF, FRA: 29W) (the “Company”) is pleased to announce it has commenced its 2019 diamond drill program on two of its highest priority properties: the JP Ross and White Gold properties. The diamond drill program is a central component of the Company’s $13 million fully funded 2019 exploration program backed by partners Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corp (TSX: K, NYSE: KGC).

Highlights Include:

  • 10,000m of diamond drilling on the JP Ross property focused on the Vertigo target. The 2019 diamond drill program will focus on evaluating the geometry as well as the lateral and vertical continuity of the high-grade mineralized structures discovered in 2018.
  • The Vertigo program represents initial diamond drill testing of the Vertigo discovery which produced several high-grade, near surface Reverse Circulation (“RC”) drill intercepts in 2018 including 22.47 g/t Au over 30.46m from surface, as well as high-grade grab samples including 304.3 g/t, 156.2 g/t, 139.9 g/t, 135.6 g/t and 132.9g/t Au.
  • 6,000m of diamond drilling on the White Gold property focused on the Golden Saddle, GS West and Arc deposits.
  • The program will focus on expansion of current deposits which include an Indicated Mineral Resource of 1,039,600 oz Au within 14,330,000 tonnes at 2.26 g/t gold and an Inferred Mineral Resource of 508,700 oz Au within 10,696,000 tonnes at 1.48 g/t gold.
  • 1,000m of diamond drilling on the VG Deposit which hosts a historic Inferred Resource of 230,000 oz Au.

Images to accompany this news release can be found at http://whitegoldcorp.ca/investors/exploration-highlights/.

“We are very excited to have initiated our 2019 diamond drilling program on some of our highest priority targets, including the Vertigo, White Gold and VG to follow up on our success in 2018,” stated David D’Onofrio, Chief Executive Officer. “The goal of this diamond drill program is threefold: to continue to expand Golden Saddle/Arc’s established resources, to follow up on JP Ross’s exciting high grade Vertigo discovery last season and to grow the recently acquired and underexplored VG Deposit. We have also commenced the regional exploration program across our extensive land package, focused on generating a strong pipeline of discoveries and resource growth.”

JP Ross Property – Vertigo Target
A Phase 1 program consisting of 10,000m of diamond drilling on the Vertigo target will focus on defining the geometry of mineralized structures along trend, and evaluating the lateral and vertical continuity of the mineralization. This includes evaluation of the target across the currently defined width of the zone and up to 500m of strike length along the core of the system.

The Vertigo target on the JP Ross property is comprised of 2,850 quartz claims covering over 57,000 hectares with at least 14 defined target areas and numerous placer gold bearing creeks.  Previously announced drill results on the Vertigo target range from trace to 22.47 g/t Au over 30.46m from surface (JPRVERRAB18-014/JPRVERRC18-013), 56.25 g/t Au over 3.05m from 3.05m depth, within a broader intercept of 17.34 g/t Au over 10.67m, (JPRVERRAB18-001) and 45.00 g/t Au over 3.05m from 1.52m depth, within a broader intercept of 9.65 g/t Au over 15.24m (JPRVERRAB18-011). Additional exploration in the area also encountered multiple high-grade grab samples including 304.3 g/t, 156.2 g/t, 139.9 g/t, 135.6 g/t and 132.9g/t Au, defining a strike length of approximately 2.2km on the Vertigo target along a larger 18km mineralized trend. The Vertigo Target is located approximately 25km north of the Company’s flagship White Gold property and is within 2km of an existing road accessible from Dawson City.

To date, at least 12 mineralized structures are recognized on the Vertigo target over a 2,200m x 650m area, and consist of W-NW trending, steeply dipping zones of quartz veining, brecciation, and fracture-controlled mineralization with disseminated to vein-controlled pyrite-arsenopyrite-galena and locally, visible gold mineralization.

White Gold Property – Golden Saddle/GS West and Arc
A Phase 1 program consisting of 6,000m of diamond drilling is planned for the Golden Saddle and Arc deposits. At the Golden Saddle, drilling will focus on expansion of the GS West zone, both along strike and down-dip. Limited historic drilling has occurred between the GS West and the GS Main and one of the Company’s key objectives for the 2019 season will be to expand this zone and explore the potential continuity between the two zones. Drilling will also be conducted on the GS Main and GS Footwall and will focus on infilling gaps in the current model; particularly the high-grade core. Included in this high-grade core is 525,600 gold ounces at a grade of 4.68 g/t gold in the Indicated category and 81,900 gold ounces at a grade of 4.74 g/t gold Inferred using a >3 g/t cut-off. Drilling activity on the Arc will focus on expansion of the deposit along strike, and targeted infill drilling to evaluate continuity on higher grade (>2g/t Au) areas within the model. Numerous other targets are known on the property and additional drilling may be conducted in these areas as warranted.

The White Gold Property is located 25km south of the JP Ross – Vertigo target and is host to the Golden Saddle and Arc deposits. The Company recently announced an updated mineral resource estimate(1) on the deposits consisting of an Indicated Mineral Resource of 1,039,600 gold ounces within 14,330,000 tonnes at 2.26 g/t gold and an Inferred Mineral Resource of 508,700 gold ounces within 10,696,000 tonnes at 1.48 g/t gold representing an increase of 25% based on 2018 exploration activity.

Approximately 86% of the resource is within the Golden Saddle which consists of three NE trending, NW dipping, zones of mineralization (GS Main, GS Footwall, & GS West) occurring along faults, fractures, and breccia zones in an overall normal to strike-slip structural regime. Together, the zones define mineralization over 1,500m strike length and from surface up to 725m down dip. This includes a continuous high-grade core of mineralization >3 g/t Au on the GS Main that is up to 50m true-thickness and traceable over 500m of strike length and from surface up to 530m down-dip. The GS West, a new discovery in 2018 and contributing an estimated 62,500 oz Au (1,339,000 tonnes at 1.45 g/t Au) to the resource, is located approximately 750m west of the GS Main and is interpreted as a western continuation of the Golden Saddle structural system.

The Arc is located approximately 400m south of the Golden Saddle and consists of two zones, the Arc Main and Arc Footwall zones. Both zones trend E-NE and dip to the north at approximately 50 degrees.  Mineralization at the Arc has been defined, through limited drilling, over 1,200m in strike length and up to 450m down dip with mineralization open along strike and down dip.

(1)  See Company news release dated June 10, 2019, available on SEDAR.

QV Property – VG Zone
Included in the Company’s regional program is 1,000m of diamond drilling focused on testing strike extensions of the historically underexplored VG resource located on the QV property, recently acquired from Comstock Metals.

Large portions of the property remain unexplored, which leaves a strong potential for the discovery of additional zones of structurally-controlled and/or intrusion-related mineralization, with several currently unexplored known targets with similar characteristics to the Golden Saddle and Vertigo.  Approximately 4,300m of diamond drilling over 23 holes has been conducted on the VG to date. Of these, only 17 diamond drill holes formed the basis of a 2014 maiden resource estimate(2) of 230,000 oz of gold (4.4 million tonnes grading 1.65 g/t Au) in the Inferred category at a cut-off of 0.5 g/t Au.

The VG resource is open along strike and at depth, and has similar mineralization and structural control to the nearby Golden Saddle deposit. The QV property is 16,335 hectares (40,000 acres) and contiguous to the Company’s White Gold property which hosts its Golden Saddle and Arc deposits, 20 km southwest of the Vertigo discovery on its JP Ross property and 44 km northwest of Newmont Goldcorp Corporation’s Coffee project. The resource and property were acquired by White Gold Corp from Comstock Metals in early 2019.

(2)  See Comstock Metals Ltd. technical report titled “NI 43-101 TECHNICAL REPORT on the QV PROJECT”, dated August 19, 2014, available on SEDAR.

QA/QC
The analytical work for the 2019 drilling program will be performed by ALS Canada Ltd. an internationally recognized analytical services provider, at its Vancouver, British Columbia laboratory.  Sample preparation was carried out at its Whitehorse, Yukon facility. All RC chip and diamond core samples will be prepared using procedure PREP-31H (crush 90% less than 2mm, riffle split off 500g, pulverize split to better than 85% passing 75 microns) and analyzed by method Au-AA23 (30g fire assay with AAS finish) and ME-ICP41 (0.5g, aqua regia digestion and ICP-AES analysis). Samples containing >10g/t Au will be reanalyzed using method Au-GRAV21 (30g Fire Assay with gravimetric finish).

The reported work will be completed using industry standard procedures, including a quality assurance/quality control (“QA/QC”) program consisting of the insertion of certified standard, blanks and duplicates into the sample stream.

About White Gold Corp.
The Company owns a portfolio of 22,040 quartz claims across 35 properties covering over 439,000 hectares representing over 40% of the Yukon’s White Gold District. The Company’s flagship White Gold property has a mineral resource of 1,039,600 ounces Indicated at 2.26 g/t Au and 508,700 ounces Inferred at 1.48 g/t Au. Mineralization on the Golden Saddle and Arc is also known to extend beyond the limits of the current resource estimate. Regional exploration work has also produced several other prospective targets on the Company’s claim packages which border sizable gold discoveries including the Coffee project owned by Goldcorp Inc. with a M&I gold resource(3) of 3.4M oz and Western Copper and Gold Corporation’s Casino project which has P&P gold reserves(3) of 8.9M oz Au and 4.5B lb Cu. For more information visit www.whitegoldcorp.ca.

(3)  Noted mineralization is as disclosed by the owner of each property respectively and is not necessarily indicative of the mineralization hosted on the Company’s property.

Qualified Person
Jodie Gibson, P.Geo., Vice President of Exploration for the Company is a “qualified person” as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects, and has reviewed and approved the content of this news release.

Cautionary Note Regarding Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “proposed”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. In this news release, forward-looking statements relate, among other things, the Company’s objectives, goals and exploration activities conducted and proposed to be conducted at the Company’s properties; future growth potential of the Company, including whether any proposed exploration programs at any of the Company’s properties will be successful; exploration results; and future exploration plans and costs and financing availability.

These forward-looking statements are based on reasonable assumptions and estimates of management of the Company at the time such statements were made. Actual future results may differ materially as forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to materially differ from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors, among other things, include: expected benefits to the Company relating to exploration conducted and proposed to be conducted at the Company’s properties; failure to identify any additional mineral resources or significant mineralization; the preliminary nature of metallurgical test results; uncertainties relating to the availability and costs of financing needed in the future, including to fund any exploration programs on the Company’s properties; business integration risks; fluctuations in general macroeconomic conditions; fluctuations in securities markets; fluctuations in spot and forward prices of gold, silver, base metals or certain other commodities; fluctuations in currency markets (such as the Canadian dollar to United States dollar exchange rate); change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formations pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations that may impose restrictions on mining and mineral exploration; employee relations; relationships with and claims by local communities and indigenous populations; availability of increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); the unlikelihood that properties that are explored are ultimately developed into producing mines; geological factors; actual results of current and future exploration; changes in project parameters as plans continue to be evaluated; soil sampling results being preliminary in nature and are not conclusive evidence of the likelihood of a mineral deposit; title to properties; and those factors described in the most recently filed management’s discussion and analysis of the Company. Although the forward-looking statements contained in this news release are based upon what management of the Company believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward-looking information, will prove to be accurate. The Company does not undertake to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.

Neither the TSX Venture Exchange (the “Exchange”) nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information:
David D’Onofrio
Chief Executive Officer
White Gold Corp.
(647) 930-1880
ir@whitegoldcorp.ca

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ab2d8ea2-31c9-4e14-9411-bbe49db8485f

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Precipitate: Finding the Sweetspot in the Dominican Republic

June is a bit of a news desert in the junior exploration space. In Canada, the explorers are out drilling and results will not be available for a few weeks or months. Which gave me the opportunity to reach out to Jeff Wilson, CEO of Precipitate Gold (V.PRG)

Precipitate put out a press release June 3 which detailed the results of an extensive soil sampling program focused on the Loma Cuaba target zone within its 100% owned Pueblo Grande Project located immediately adjacent to, and virtually surrounding Barrick’s world-class Pueblo Viejo gold-silver mine in the Dominican Republic. In that release Wilson is quoted as saying, “We are very pleased that our first phase of field work within this highly prospective zone has identified and refined numerous multi-element soil anomalies enriched with many of the important elements commonly associated high sulphidation epithermal mineralization. The infill soil sampling program provides us with an important layer of high-resolution data that will greatly assist with our ongoing geological interpretation of the Loma Cuaba Lithocap Zone. We look forward to augmenting this new geochemical data with pending results from our ground magnetic survey and geological mapping program as we compile critical components for plotting our initial drill targets in the months ahead.”

I reached Wilson by phone and asked how the project was going. “We’re getting into a lot more detail now,” said Wilson. “For example, our soil sampling was on 50 meter centers while prior work was done at 100 meter centers.”

Wilson is looking forward to receiving and releasing the results of the ground magnetic survey in the next few weeks. While the property has been flown magnetically, the ground mag will have higher resolution and will give a more subtle sense of the magnetic anomalies. At the same time, detailed geological mapping by high-level geos will help to identify interesting geological features that may have been overlooked or mislabelled by previous explorers.

It is all in aid of picking the targets for a drilling program expected to run between 4000 and 5000 meters. “We won’t be drilling too deep,” said Wilson. “300, maybe 400 meters at most.”

The drilling program will be designed to test the lithocap hypothesis. Is there a mineralized structure under a couple of hundred meters (or less) of barren rock?

With Barrick’s world-class Pueblo Viejo gold-silver mine pit literally less than a kilometer away from Precipitate’s claim boundary, Wilson is more than a little optimistic that there will be mineralization. Right now, the objective is to outline drill targets which will give Precipitate proof of concept.

Down the road? Obviously, Barrick would be interested in any new deposit delineated right next door to it’s already huge Pueblo Veijo mine. However, Wilson has been taking calls and having meetings with other significant gold mining companies who are equally interested.

Worth watching in the next few months.

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Early Warning News Release of World Class Extractions Inc.

In accordance with the requirements of National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues (“NI 62-103“), World Class Extractions Inc. (the “Reporter“) announces that it has acquired beneficial ownership and control over 71,650,447 common shares (“Common Shares“) in the capital of Quadron Cannatech Corporation (“Quadron“), which represents 100% of the issued and outstanding Common Shares.

This announcement is made in connection with the completion of the plan of arrangement (“Arrangement) on June 17, 2019, pursuant to which the Reporter acquired all of the Common Shares. Under the terms of the Arrangement, each former holder of Common Shares received two common shares in the capital of the Reporter (each, a “World Class Share“). For details of the Arrangement, please see the Reporter’s press release dated June 17, 2019.

Immediately prior to the closing of the Arrangement that triggered the requirement for this announcement, the Reporter did not have beneficial ownership and control over any Common Shares. Immediately after the completion of the Arrangement, the Reporter owns 71,650,447 Common Shares, representing 100% of the issued and outstanding Common Shares. As a result of the Arrangement, Quadron became a wholly-owned subsidiary of the Reporter.

The purpose of the Arrangement was to enable the Reporter to acquire all of the outstanding Common Shares. The Reporter holds the Common Shares for investment purposes and may, in the future, increase or decrease its ownership of Common Shares or other securities of Quadron, from time to time depending upon, among other things, the business and prospects of Quadron and future market conditions.

For further information or to obtain a copy of the early warning report filed under applicable securities legislation in connection with the transactions set forth hereunder, please go to the Reporter’s profile on SEDAR, at www.sedar.com, or contact Rosy Mondin at 1-604-473-9569.

This news release contains “forward-looking information” within the meaning of applicable securities law relating to, future plans and intentions of the Reporter and associated matters. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things that the plans of the Reporter may change. The statements in this press release are made as of the date of this release.

info

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World Class Extractions and Quadron

World Class Extractions (CNSX:PUMP) Anthony Durkacz & Quadron Cannatech (CNSX:QCC) Rosy Mondin join the Midas Letter Raw video to explain the advantages of the companies’ merger.

One advantage that is already apparent is that the companies have two first class spokespeople in Durkacz and Mondin. A bit advantage in the crowded cannabis sector.

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Skyharbour Partner Company Azincourt’s Initial Drilling Confirms East Preston Basement Prospectivity

Skyharbour Resources Ltd. SYH)”>(TSX-V:SYH) (OTCQB:SYHBF) (Frankfurt:SC1P) (the “Company”) is pleased to announce that its partner company Azincourt Energy Corp. (“Azincourt”) has reported results from the recent phase one drill program at the East Preston Uranium Project, located in the western Athabasca Basin, Saskatchewan, Canada.

Preston Uranium Project Map:
http://skyharbourltd.com/_resources/maps/SYH-Patterson-Lake.pdf

The initial drill campaign has confirmed the prospectivity of the East Preston project, as basement lithologies and graphitic structures intersected at East Preston are very similar and appear to be analogous to the Patterson Lake South, Arrow and Hook Lake/Spitfire uranium deposit host rocks and setting. A total of 552 meters of drilling was completed in three holes prior to the onset of spring break-up conditions that impacted the duration of the program. The rapid onset of spring required shifting from entirely overland-supported drilling to helicopter-supported drilling. All drill holes targeted multiple closely spaced discreet graphitic conductors with coincident gravity low anomalies often indicative of alteration or thicker overburden due to enhanced glacial scouring over altered, or structurally disrupted basement.

Azincourt’s President and CEO, Alex Klenman stated: “We are certainly very pleased with the results of the first few holes, it’s an excellent start to initial drill testing at East Preston. We have confirmed the project contains the appropriate environment – both geologically and geochemically – that is consistent with uranium mineralization in the area. That’s a significant confirmation, and to be able to determine this at the outset is a very positive development. These are the right graphitic-rich host rocks and given we have just started drilling, we’re obviously optimistic about what’s ahead. We have dozens of high priority targets yet to drill, and thanks to recent substantial institutional support we are well funded to execute a much larger phase two program. Permitting is already underway, we have the cash, and we have the targets. Our timing looks good with sector developments as well. We’re excited to get more drill holes in the ground and will announce details of the upcoming phase two drill campaign soon.”

The East Preston project lies immediately south of the interpreted southern edge of the Athabasca Basin and overburden thickness ranged from 15m to 33m thick with no Athabasca sandstone intersected. Numerous untested graphitic conductive trends remain on the project for drill testing, and additional targets have been generated from the recent VTEM survey that now covers the entire East Preston project lands. The basement rocks intersected comprised amphibolite-grade (high-grade) metamorphic pelitic/mafic to pssamopelitic/felsic gneisses and schists with pegmatitic partial melt segregations. Numerous intervals of blue quartz ‘units’ interpreted as either amphibolite-grade orthoquartzite, or silica-flooded, altered gneissic precursors were also intersected. The gneissic rocks often become highly strained displaying mylonitic to proto-mylonitic textures.

All drill holes intersected at least two intervals of graphitic pelitic gneiss/schist, sufficiently explaining the HLEM and VTEM conductors targeted. In drill holes EP19001 and EP19002, the graphitic rocks intersected were primarily stratigraphic with little associated structural disruption. Drill hole EP19003 intersected moderate to strong structural upgrading within the upper graphitic-pyritic unit encountered. Anomalous radioactivity was observed immediately in the hanging wall upper contact of this graphitic fault interval associated with partial melt pegmatite.

East Preston Uranium Project Initial Drill Pad Locations:
http://skyharbourltd.com/_resources/maps/figure1-20190617.jpg

Downhole probe results showed anomalous radioactivity predominantly attributed to thorium related to observed partial melt pegmatitic granite intervals in drill core. Drill core samples collected were submitted to SRC Geoanalytical Laboratories in Saskatoon for ICP-MS Total Digest, ICP-MS Partial digest, Boron by fusion and Gold fire assay chemical analysis. Trace element geochemistry shows anomalous results for basement-hosted unconformity uranium deposit pathfinders Ni, Co, Cu, Zn and As associated with graphitic schist intervals. Graphitic rocks hosting uranium mineralization are often associated with Ni-Co-As, Cu and Zn sulphides in anomalous, to substantial quantities. The presence of these pathfinder elements adds additional information and will enhance vectoring towards the most prospective areas of the conductor systems.

Drill Hole Analysis:

EP19001 (Pad B, 094/-45°): PAD B on L2400 targeted the confluence of north and northeast-trending conductors (prospective structure) with a coincident gravity anomaly (potential alteration), and a positive airborne radiometric anomaly (a potential mineralization indicator). This hole successfully intersected graphite-rich intermediate-mafic gneiss and schist units between 105-145m (5-10% graphite), and 157.2-181.9m (2-5% graphite). Both intervals are sandwiched between granitic to granodioritic orthogneiss. Lithology variations and graphite content are significant enough to explain the geophysical conductor targets at this location.  Overall alteration intensity is considered low to moderate. Radiometric anomalies are limited to biotite-rich fractures +-blue quartz or pods within pegmatitic granite subunits. The targeted hole successfully intersected graphite-laden structures/lithologies that are similar in character to host lithologies along the Patterson Lake trend.

EP19002 (Pad E, 105/-45°): PAD E on L1200 targeted a flexure in the HLEM conductor trend and two down hole northwest dipping Maxwell Planes. This site is located 1.5km southwest and on-strike of hole EP19002. Near identical sequence of lithologies as in hole EP19001 with intercepts averaging 40m higher in the hole. Radiometric anomalies are limited to biotite-rich fractures +-blue quartz or pods within pegmatitic granite subunits. Overall more carbonate and less garnet than EP19001. Two graphite rich bands correlate well with projected geophysical conductor traces.

Hole EP19003 (Pad KB, 120/-45°): PAD KB on M600 targeted a flexure in a strong VTEM conductor trend. This site is located 1.0 km north of hole EP19001 along a second parallel conductor feature. This hole intersected graphitic conductive lithologies significantly earlier than the predicted Maxwell-plate predicted depth of 155m, but in league with VTEM predicted conductor traces. Overall lithologic sequence is similar to holes 1 and 2, but overall graphitic content is higher in this hole. The garnet metamorphic overprint is high with low carbonate alteration. The pyrite content is also significantly elevated in the 54-61.5m interval. The highest count of 368 cps occurs at 50.5m depth in a pegmatitic granite immediately adjacent to the first graphitic fault gouge.

Option Agreement:

Skyharbour and Clean Commodities entered into an Option Agreement (the “Agreement”) with Azincourt whereby Azincourt has an earn-in option to acquire a 70% working interest in a portion of the Preston Uranium Project known as the East Preston Property. Under the Agreement, Azincourt has issued common shares and will contribute cash and exploration expenditure consideration totaling up to CAD $3,500,000 in exchange for up to 70% of the applicable property area over three years. Of the $3,500,000 in project consideration, $1,000,000 will be in cash payments to Skyharbour and Clean Commodities, as well as $2,500,000 in exploration expenditures over the three-year period.

About East Preston:

Extensive regional exploration work at East Preston was completed in 2013-14, including airborne electromagnetic (VTEM), magnetic and radiometric surveys. Three prospective conductive, low magnetic signature corridors have been discovered on the property. The three distinct corridors have a total strike length of over 25 km, each with multiple EM conductor trends identified. Ground prospecting and sampling work completed to date has identified outcrop, soil, biogeochemical and radon anomalies, which are key pathfinder elements for unconformity uranium deposit discovery.

Azincourt completed a winter geophysical exploration program in January-February 2018 that generated a significant amount of new drill targets within the previously untested corridors while refining additional targets near previous drilling along the Swoosh corridor. Ground-truthing work confirmed the airborne conductive trends and more accurately located the conductor axes for future drill testing. The gravity survey identified areas along the conductors with a gravity low signature, which is often associated with alteration, fault/structural disruption and potentially, uranium mineralization. The combination/stacking of positive features has assisted in prioritizing targets.

The Main Grid shows multiple long linear conductors with flexural changes in orientation and offset breaks in the vicinity of interpreted fault lineaments – classic targets for basement-hosted unconformity uranium deposits. These are not just simple basement conductors; they are clearly upgraded/enhanced prospectivity targets because of the structural complexity.

The targets are basement-hosted unconformity related uranium deposits similar to NexGen’s Arrow deposit and Cameco’s Eagle Point mine. East Preston is near the southern edge of the western Athabasca Basin, where targets are in a near surface environment without Athabasca sandstone cover – therefore they are relatively shallow targets but can have great depth extent when discovered. The project ground is located along a parallel conductive trend between the PLS-Arrow trend and Cameco’s Centennial deposit (Virgin River-Dufferin Lake trend).

Quality Assurance, Quality Control and Data Verification:

Drill core samples were interval grab samples of interesting lithologies from 0.7m to 2.0m in length, split in half longitudinally, with one-half of the core retained, and the other half placed in sealed bags and shipped to SRC Geoanalytical Laboratories (SRC) in Saskatoon, SK for sample preparation, processing and ICP-MS multi-element analysis using Total and Partial digestion, gold by fire assay and boron by fusion. SRC is an ISO/IEC 17025/2005 and Standards Council of Canada certified analytical laboratory. Azincourt’s Qualified Person for the drill program, Mr. Ted O’Connor, has verified the data disclosed, including drilling, sampling and analytical data. The program is designed to include analytical quality assurance and control routines comprising the systematic use of standards, blanks and duplicate samples.

Qualified Person:

The technical information in this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and reviewed and approved by Richard Kusmirski, P.Geo., M.Sc., Skyharbour’s Head Technical Advisor and a Qualified Person.

About Skyharbour Resources Ltd.:

Skyharbour holds an extensive portfolio of uranium and thorium exploration projects in Canada’s Athabasca Basin and is well positioned to benefit from improving uranium market fundamentals with six drill-ready projects. Skyharbour has acquired from Denison Mines, a large strategic shareholder of the Company, a 100% interest in the Moore Uranium Project which is located 15 kilometres east of Denison’s Wheeler River project and 39 kilometres south of Cameco’s McArthur River uranium mine. Moore is an advanced stage uranium exploration property with high grade uranium mineralization at the Maverick Zone with drill results returning up to 6.0% U3O8 over 5.9 metres including 20.8% U3O8 over 1.5 metres at a vertical depth of 265 metres. Skyharbour has signed option agreements with Orano Canada Inc. and Azincourt Energy whereby Orano and Azincourt can earn in up to 70% of the Preston Project through a combined $9,800,000 in total exploration expenditures, as well as $1,700,000 in total cash payments and Azincourt shares. Preston is a large, geologically prospective property proximal to Fission Uranium’s Triple R deposit as well as NexGen Energy’s Arrow deposit. The Company also owns a 100% interest in the Falcon Point Uranium Project on the eastern perimeter of the Basin which contains a NI 43-101 inferred resource totaling 7.0 million pounds of U3O8 at 0.03% and 5.3 million pounds of ThO2 at 0.023%. The project also hosts a high-grade surface showing with up to 68% U3O8 in grab samples from a massive pitchblende vein, the source of which has yet to be discovered. The Company’s 100% owned Mann Lake Uranium project on the east side of the Basin is strategically located adjacent to the Mann Lake Joint Venture operated by Cameco, where high-grade uranium mineralization was recently discovered. Skyharbour’s goal is to maximize shareholder value through new mineral discoveries, committed long-term partnerships, and the advancement of exploration projects in geopolitically favourable jurisdictions.

Skyharbour’s Uranium Project Map in the Athabasca Basin:
http://skyharbourltd.com/_resources/SYH_Landpackage_2014.jpg

To find out more about Skyharbour Resources Ltd. (TSX-V: SYH) visit the Company’s website at www.skyharbourltd.com.

SKYHARBOUR RESOURCES LTD.

“Jordan Trimble”
                                                           
Jordan Trimble
President and CEO

For further information contact myself or:
Nick Findler
Corporate Development and Communications
Skyharbour Resources Ltd.
Telephone: 604-639-3850
Toll Free: 800-567-8181
Facsimile: 604-687-3119
Email: info@skyharbourltd.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.

This release includes certain statements that may be deemed to be “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.

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World Class and Quadron Announce Closing of Plan of Arrangement

World Class Extractions Inc. (“World Class”) (CSE: PUMP) and Quadron Cannatech Corporation (“Quadron”) (CSE: QCC) are pleased to announce that that they have completed their previously announced plan of arrangement (the “Arrangement”) under the provisions of the Business Corporations Act (British Columbia), pursuant to which World Class has acquired all of the common shares of Quadron (the “Quadron Shares”) following Quadron’s amalgamation with World Class’s wholly-owned subsidiary, 1212476 B.C. LTD., to form a new wholly-owned subsidiary of World Class continuing as “Quadron Cannatech Corporation” (“Amalco”).

“The merger of Quadron Cannatech with World Class Extractions accelerates the pace and effectively increases progress towards our strategic goals of becoming the world’s largest extraction company in terms of capacity,” said Rosy Mondin, the new Chief Executive Officer of World Class. “The reconstituted management and board have diverse and strategically-relevant backgrounds to address the global opportunities arising in the cannabis and hemp industries.”

Under the terms of the Arrangement, each former Quadron shareholder is now entitled to receive two common shares of World Class (“World Class Shares”), for each Quadron Share held prior to the Arrangement (the “Consideration”). In addition, options and warrants to purchase Quadron Shares will continue to remain outstanding as options and warrants of Amalco, which, upon exercise, will entitle the holders to receive the Consideration that such holders would have been entitled to be issued if, prior to the closing date of the Arrangement, such holders had exercised their options or warrants. It is anticipated that the Quadron Shares will be delisted from the Canadian Securities Exchange (“CSE“) as of the close of trading on June 17, 2019.

Pursuant to the letter of transmittal mailed to Quadron shareholders as part of the material in connection with the special meeting of Quadron shareholders held on June 7, 2019 (the “Meeting”), in order to receive the Consideration to which they are entitled, registered holders of Quadron Shares will be required to deposit their share certificate(s) representing Quadron Shares, together with a duly completed letter of transmittal, with Capital Transfer Agency, ULC, the depositary under the Arrangement. Shareholders whose Quadron Shares are registered in the name of a broker, dealer, bank, trust company or other nominee should contact their nominee with questions regarding the receipt of the Consideration.

Management and Board Changes

Upon completion of the Arrangement, the board of World Class was reconstituted to consist of Rosy Mondin, Chand Jagpal, Anthony Durkacz, Dr. Raza Bokhari and Donal Carroll. Ms. Mondin and Mr. Jagpal were nominees of Quadron, Mr. Durkacz and Dr. Bokhari were nominees of World Class, and Mr. Carroll was a joint nominee of World Class and Quadron. In addition, Ms. Mondin was appointed Chief Executive Officer, Leo Chamberland was appointed President and Zara Kanji was appointed Chief Financial Officer of World Class, while Michael McCombie resigned as Chief Executive Officer and Donal Carroll resigned as Chief Financial Officer of World Class.

Advisors

M Partners Inc. provided a fairness opinion to the Board of Directors of Quadron that the Arrangement is fair, from a financial point of view. First Republic Capital Corporation (“First Republic”) acted as financial advisor to World Class. In addition to other fees and expenses payable to First Republic, World Class paid a success fee (the “Success Fee”) to First Republic and Canaccord Genuity Corp. equal to, respectively, approximately 2.73% and 0.77% of the aggregate fair market value of the World Class Shares issuable by World Class to Quadron’s shareholders, payable in World Class Shares.

About World Class Extractions

World Class is a Canadian based developer of an innovative extraction process for both the hemp and cannabis industry. World Class intends to provide single step continuous flow extraction services to the hemp and cannabis industry. Using patent pending technology, World Class’ results produce higher yields and better quality crude hemp oil at faster rates. The technology allows the extraction of CBD Oil and other related extracts from wet or dried natural plants. World Class can save its clients floor space, utility drying costs, equipment and processing labour costs.

For more information, visit: www.wcextractions.com.

About Quadron

Quadron, through its wholly owned subsidiaries, provides turn-key extraction and processing solutions for the cannabis industry including proprietary industrial grade equipment, custom build processing facilities, ancillary products, and scientific services. Quadron delivers streamlined, costeffective and innovative solutions to help licensed growers, producers and processors develop market ready products all to achieve quicker ROI.

For more information, visit: www.quadroncannatech.com.

Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements: This news release includes statements containing forward-looking information regarding World Class and Quadron and their respective businesses. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “is expected”, “expects”, “scheduled”, “intends”, “contemplates”, “anticipates”, “believes”, “proposes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, and include statements in this press release concerning the expected timing by which Quadron will be de-listed from the CSE, and our expectations of the benefits associated with combination of World Class and Quadron. Such statements are based on the current expectations of the management of World Class and Quadron. Such forward-looking events and circumstances may not occur when anticipated or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting World Class or Quadron, including risks regarding the cannabis industry, economic factors, the equity markets generally, risks associated with growth and competition and those risk factors referred to in the management information circular of Quadron prepared in connection with the Meeting. Although World Class and Quadron have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in this news release, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking information cannot be guaranteed. Except as required by applicable securities laws, statements in this news release containing forward-looking information speak only as of the date on which they are made and World Class and Quadron undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws.

 

Contact Information

World Class Extractions Inc.
Rosy Mondin
Chief Executive Officer


Investor Relations Contact
Christina Rao,
VP, Investor Relations
(604) 723-7480
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Marathon Gold Announces Results of Annual Meeting of Shareholders and Progress in Executing the CEO Succession Plan

Marathon Gold Corporation (“Marathon” or the “Company”)

(MOZ: TSX) announced today the results of voting at the annual meeting of shareholders held on June 11, 2019 in Toronto, Ontario.

All of the director nominees set out in the management information circular dated April 25, 2019 were elected as directors, to serve a one-year term. In addition, PricewaterhouseCoopers LLP was re-appointed as the Company’s auditor for the fiscal year ending December 31, 2019.

Details of the voting are as follows:

 Proposal #1 – Election of Directors
 Votes ForPercentage
of Votes For
Votes
Withheld
George D. Faught50,621,40570.00%21,695,725
Phillip C. Walford72,125,22899.73%191,902
Julian B. Kemp68,965,96095.37%3,351,170
Joseph G. Spiteri49,406,72568.32%22,910,405
Douglas H. Bache69,490,66096.09%2,826,470
Janice A. Stairs69,570,57796.20%2,746,553
Proposal #2 – Reappointment of Auditor
Votes ForPercentage
of Votes For
Votes
Withheld
PricewaterhouseCoopers LLP82,571,31899.71%240,059

The Company’s shareholders voted in favour of all matters brought before the meeting. The results of voting will be filed at www.sedar.com.

The Board of Directors also reports that the recently announced search, led by Korn Ferry, for a new President & Chief Executive Officer is well underway and the Company is pleased with the caliber of potential candidates under consideration. The Board is confident that a strong mining executive will be recruited to focus on advancing Marathon’s strategy and the Valentine Gold project through the next stage of development.

Mr. Faught, Chairman of the Board stated, “On behalf of the Board of Directors we would like to thank our shareholders for their continued support of our development strategy. We now look forward to hiring a new CEO with the experience and profile to successfully lead Marathon and the Valentine Gold project through continued growth and value creation as we embark on the next stages of development”.

About Marathon
Marathon is a Toronto based gold company rapidly advancing its 100%-owned Valentine Gold Camp located gin Newfoundland and Labrador, one of the top mining jurisdictions in the world. Marathon has confirmed the feasibility of the Valentine Gold Camp, which currently hosts four near-surface, mainly pit-shell constrained, deposits with measured resources totaling 1,166,500 oz. of gold at 2.18 g/t, indicated resources totaling 1,524,900 oz. of gold at 1.66 g/t and inferred resources totaling 1,531,600 oz. of gold at 1.77 g/t. The majority of the resources occur in the Marathon and Leprechaun deposits, which also have resources below the current open pit shell. Both deposits are open at depth and on strike. Gold mineralization has been traced down almost a kilometer vertically at Marathon and over 350 meters at Leprechaun. The four deposits identified to date occur over a 20-kilometer system of gold bearing veins, with much of the 24,000-hectare property having had only minimal exploration activity to date.

The Valentine Gold Camp is accessible by year-round road and is in close proximity to the provincial electrical grid. Marathon maintains a 50-person all-season camp at the property. Recent metallurgical tests have demonstrated 93% to 98% recoveries via conventional milling and an average of 65 to 72% extraction rates for 23 mm (1/2 inch) material via lower cost heap leaching at the Marathon and Leprechaun Deposits respectively.

To find out more information on the Valentine Gold Camp project, please visit www.marathon-gold.com.

For more information, please contact:

George Faught
Chairman of the Board
Tel:  1-416-505-5865
Email:  gfaught@gmail.com
Phillip Walford
President and CEO
Tel: 1-416-987-0711
E-mail: pwalford@marathon-gold.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION

Except for statements of historical fact relating to Marathon Gold Corporation, certain information contained herein constitutes “forward-looking statements”. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as “expects”, “anticipates”, “plans”, “believes”, “considers”, “intends”, “targets”, or negative versions thereof and other similar expressions, or future or conditional verbs such as “may”, “will”, “should”, “would” and “could”. We provide forward-looking statements for the purpose of conveying information about our current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to those identified and reported in Marathon Gold Corporation’s public filings, which may be accessed at www.sedar.com. Other than as specifically required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events, results or otherwise.

 

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Cartier Cuts 5.6 g/t Au over 8.5 m in Zone 5M4 at Chimo Mine

Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports drill results grading 5.6 g/t Au over 8.5 m including 9.9 g/t Au over 3.0 m and 8.3 g/t Au over 2.5 m.  These intersections are hosted within in a mineralized envelope over 27.8 m grading 2.5 g/t Au in  Zone 5M4 of the Chimo Mine property, located 45 km east of Val-d’Or (FIGURE).

Additional intersections grading 63.1 g/t Au over 0.5 m included within a 27.0 m section grading 2.2 g/t Au as well as an intersection grading 22.3 g/t Au over 1.0 m included within a 26. 0 m section grading 1.7 g/t Au, were also obtained within Zone 5NE. All of these results were intersected at a depth of 700 m in Zones 5M4 and 5NE, are 25 m one from another and located 450 m east of the existing underground infrastructure.

Zones 5M4 and 5NE were drilled over a length of 900 m from the surface to a depth of 700 m. At this depth, both zones were tested, to date, over an east-west orientation width of 75 m. Zones 5M4 and 5NE remain open in all directions (FIGURE).

« These new results, highlight the importance of prioritizing continued exploration of Zones 5M4 and 5NE in order to maximize the potential of drill results previously reported in the main Zones 5B and 5M » 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
CH18-52BE784.0792.58.55.65M45M
Including787.0790.03.09.9
And765.7768.22.58.3
Included in765.7793.527.82.5
CH18-52B705.5706.00.563.15NE5N
Included in692.0719.027.02.2
CH18-52BE698.0699.01.022.3
Included in697.0723.026.01.7

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.

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 7 km 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 $5.5M 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 II and III, carried out by Cartier on the Chimo Mine project, consisted of 109 holes for a total of 49,251 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.

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