Cartier Resources Inc. (TSX-V: ECR) (the “Company”) announces that the Board of Directors granted, on November 27, 2019, a total of 1,450,000 stock options to directors and officers and to one employee of the Company. Pursuant to the terms of the Company’s stock option plan, each option entitles the holder thereof to purchase one common share of the Company at a price of $0.125 per share until no later than November 26, 2024.
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 Resources Inc. (TSX VENTURE:ECR) (“Cartier”) is pleased to announce new results from its ongoing 30 000-m drilling program on the Chimo Mine property, located 45 km east of Val-d’Or. These results are associated with the 2B Zone (2 structure) and the 4E Zone (4 structure) intersected respectively at 230 m and 110 m east-northeast of the shaft.