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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.
When the gold price crashed to less than $300 an ounce in the late 1990s many gold mines in Canada went into “care and maintenance”. And when that price failed to recover these mines were, effectively abandoned.
Cartier Resources Inc. (TSX VENTURE:ECR) (“Cartier”) is pleased to announce it has intersected 7.6 g/t Au over 5.0 m, 235 m beneath the deepest stope at Chimo Mine, situated 45 km east of Val-d’Or. These new results were intersected at a depth of 1,075 m along the depth extensions of gold-bearing zones 5 which produced 2/3 of the ounces mined. The intersection is the first from an 8,000-m deep drilling program which is part of the ongoing 34,000-m drill program on the Chimo Mine property.
Cartier Resources Inc. (TSX VENTURE:ECR) (“Cartier”) is pleased to announce new results from its ongoing 30,000-m drill program on the Chimo Mine property, situated 45 km east of Val-d’Or. These new results were intersected at a depth of 650 m along the extensions of Zones 5N and 5M.
Cartier Resources Inc. (TSX VENTURE:ECR) (“Cartier”) is pleased to announce the results of the first drill hole from its 13-drill-hole, 7,814 m drill program on the Fenton property, located 50 km southwest of Chapais and 50 km north of Osisko’s Windfall Lake gold deposit in the heart of the Urban-Barry’s belt.
Cartier Resources’s (V.ECR) CEO Philippe Cloutier has worked in the exploration business for over twenty-five years. He understands the potential of prospective properties and he knows that the very best place to find gold is where gold has already been mined. He also knows that to develop and execute a drilling program is expensive. Which is why, when we began our interview, Cloutier said, “Cartier is cash rich, we have 16 million dollars in the bank.”
The Abitibi region in Quebec is filled with gold mines both currently producing and shut down. For Philippe Cloutier, President and CEO of Cartier Resources (V.ECR) a closed mine is a huge opportunity.
Cartier Resources Inc. (TSX VENTURE:ECR) (“Cartier”) is pleased to announce that a 7000-meter drill program has been launched on the Fenton property, situated 50 km south-east of Chapais. Two drills will be employed for this program in order to explore the depth extension of the gold mineralization of the Fenton deposit (FIGURE).
Cartier Resources Inc. (TSX VENTURE:ECR) (“Cartier”) is pleased to announce that the first results of its 25 000-m ongoing drill program on the Chimo Mine property, located 45 km east of Val-d’Or. Four drill holes, completed 700 m east of the former Chimo Mine workings and on the 5M Zone gold-bearing structure have intersected the 5M4 Zone (FIGURE). The best results are: 7.3 g/t Au/2.2 m included in 2.0 g/t Au/14.1 m and 5.8 g/t Au/2.4 m included in 1.5 g/t Au/14.0 m (see table below).