Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces that a line cutting and channel sampling program were recently completed and that a ground geophysical survey is in progress on the 100% owned Fenton gold property located 50 km southwest of Chapais, Quebec, Canada.
The Fenton deposit contains a historical resource1 estimate of 426,173 tonnes grading 4.66 g/t Au corresponding to 63,885 oz Au (Datac Géo-Conseil Enrg., Denis Chénard, P. Eng., 2000). Some of the deposit’s historic intersections grade up to 41.4 g/t Au / 4.0 m within a zone of 13.4 m grading 14.0 g/t Au (FIGURE). Several gold showings of semi-massive to massive sulphides are present throughout the property with historical values grading up to 356.0 g/t Au / 0.6 m within a zone grading 42.3 g/t Au / 5.1 m. The potential that the geophysical survey detects sulphide-rich mineralization, is excellent.
1 : The development of the exploration potential of this project is not at the stage to update the historical resources. The qualified person and the issuer do not consider the historical resources of this project to be up-to-date mineral resources.
In November 2021, 75 km of preparatory line cutting was completed to carry out the geophysical survey. The collect of 120 m of channel samples, totaling 540 kg of rock over 350 m of surface exposure of the Fenton deposit, has been shipped to the laboratory and analytical results are pending.
The choice of the InfiniTEM® XL of Abitibi Geophysic Inc.’s method is based on its ability to detect mineralization, consisting of semi-massive to massive sulphides, weakly conductive such as pyrite in a silica matrix. The first configuration, totaling 15 km of survey, aims to detect the presence of mineralization located in the deep extension of the Fenton deposit, between 500 m and 1,000 m deep. The second configuration, totaling 65 km of survey, aims to discover new mineralized zones peripheral to the Fenton deposit (FIGURE), at depths between 100 and 500 m. The geophysical survey will be completed by Christmas 2021 and the interpretation of the results, used to generate a large portion of the 2022 drill targets, will be available at the end of January 2022.
“The recent compilation of all historical data of the Fenton project has made it possible to accelerate the field work that will lead to the drilling of the best gold targets,” commented Philippe Cloutier, President and CEO, adding “this exploration program will be conducted in parallel with the completion of the Preliminary Economic Study (“PEA”) for the Chimo Mine project, the company’s flagship project located in the prolific Val-d’Or mining camp”.
Cartier Resources Inc., which was founded in 2006, is an exploration company based in Val-d’Or. The company’s projects are all located in Quebec, which regularly ranks among the best mining jurisdictions in the world. Cartier is advancing the development of its flagship Chimo Mine project and actively exploring its other projects. The Company has a solid cash position exceeding $ 6.3M and significant corporate and institutional supports, notably with Agnico Eagle Mines, Jupiter Asset Management and the Quebec investment funds.
The scientific and technical information on the Company in this news release was prepared and reviewed by Mr. Gaétan Lavallière, P.Geo., Ph.D, Cartier’s Vice-President, and Mr. Ronan Déroff, P.Geo, M.Sc., Senior Geologist, Project Manager and Geomatician, both qualified persons as defined in NI 43-101. Mr. Lavallière approved the information contained in this press release.
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