Cartier Cuts Two New Zones at Chimo Mine Project
Highlights of press release (FIGURE 1):
Tag: TSXV;ECR
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 Agreement with Hawkmoon To Option 100% of the Wilson Property
Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces the execution of an option agreement (the “Agreement”) with Hawkmoon Resources Corp. (“Hawkmoon”) to option 100% of its interests in its Wilson property located 15 km east of the Municipality of Lebel-sur-Quévillon.
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.
Industrial Sorting Tests increase by 170 % the Grade of the Mineralisation of the Chimo Mine Property
Highlights :
- The industrial sorting tests of mineralisation representative of the Chimo Mine project produced a concentrate representing by mass a bit more than 50 % of the original mass of the material with a percentage increase of 170 % of the gold content compared to the feed of the sorter;
- The sorting tests carried out by Corem and by Steinert US are comparable and these result in positive conclusions which bode well for increasing the value of the resources with the mineralization sorting technology. The objective of the industrial sorting of the mineralization is to increase the grade of the preconcentrated material preceding the milling operations, which allows to:
- Increase the recovery rate at the mill;
- Reduce transport costs to the mill;
- Reduce milling costs;
- Reduce the costs of environmental restoration of mine tailings;
- Reduce the environmental footprint of mine tailings and consequently increase the social acceptability of mining project.
VAL-D’OR, Quebec, April 08, 2021 – Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces the results industrial sorting tests of mineralisation representative for the Chimo Mine property, located 45 km east of Val-d’Or. The tests were carried out by two laboratories: Corem in Quebec (Canada) and Steinert US in Kentucky (USA).