Junior mineral explorers tend to rush out news of their discoveries and their resource estimates. A 43-101 Resource Estimate encourages a company’s investors and, in theory, makes it easier to raise money to continue development. But the market has to be able to hear the news.
Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) has awarded GeoPointCom the mandate to complete an initial resource estimate and a supporting NI 43-101 technical report for its 100% owned flagship Chimo Mine gold project located 45 kilometers east of Val-d’Or, 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 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.
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).
Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports drill results grading 7.7 g/t Au over 3.6 m included within a 17.1 m section grading 2.8 g/t Au. in the Zone 6N1 of the Chimo Mine property, located 45 km east of Val-d’Or.
Cartier Resources’ (V.ECR) most recent press release on the “deep results” from its drilling of target 6N1 at the Chimo Mine in Quebec just confirmed what Cartier CEO Philippe Cloutier had anticipated.