Cartier Cuts Two New Zones at Chimo Mine Project
Highlights of press release (FIGURE 1):
Tag: Agnico Eagle Mines
Cartier Delivers Positive PEA for Chimo Mine Project Post-Tax NPV5% of CAD$388M and 20.8% IRR
Long term gold price of US$1,750/oz, Exchange rate of CAD$1.00 = US$0.77 Post-tax NPV5% of CAD$388M and IRR of 20.8% Post-tax payback period of 2.9 years and mine life of 9.7 years Capex of CAD$341M Average all-in sustaining cost of US$755/oz Average annual production of 116,900 oz 4,500 tpd underground operation Average sorted grade of 4.55 g/t Au for mill feed Processing plant with capacity of 3,000 tpd and rate of recovery of 93.1% Sorting of mineralization increases the grade of material prior to milling operations and recovery rate and also reduces costs of mill construction, material handling, milling and restoration leading to a reduced environmental footprint of mine tailings and thus increasing the social acceptability of the projectCartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce the positive results of the Preliminary Economic Assessment (“PEA”), prepared in accordance with National Instrument 43-101 – Standard of Disclosure for Mineral Projects (“NI 43-101”), on the Chimo Mine Project located 45 km east of the Val-d’Or mining camp.
Cartier Cuts 4.0 g/t Au over 6.8 m in 5NE Zone on Chimo Mine Property
Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces drill results in the East Chimo Mine Sector, located at the midpoint of 450 m between the Chimo Mine and West Nordeau sectors (FIGURE 1). The results are located on the Chimo Mine Property, 100% owned by Cartier, which is located 45 km east of the Val-d’Or mining camp.
Cartier Cuts 27.4 g/t Au over 8.0 m on the Fenton Property
Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce high grade channel sampling results from the 2021 exploration program at the 100 % owned Fenton gold property located 50 km southwest of Chapais, Quebec, Canada.
Cartier’s Exploration Work in Progress on the Fenton Property
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.
Cartier Signs Definitive Agreements with SOQUEM and Owns 100% of the Fenton Property
Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces the execution of a definitive agreements with SOQUEM Inc. (“SOQUEM”) in connection with the acquisition by Cartier of all the rights and interests of SOQUEM (i.e. 50%) in a group of 14 mining claims located 50 km southwest of Chapais in consideration for a purchase price of $700,000 payable as follows: (a) an amount of $300,000 in cash and (b) the issuance of 1,261,431 common shares of Cartier.