Cartier Adds New 3E1 Gold Zone to East Chimo Mine Sector

VAL-D’OR, Quebec, Nov. 15, 2022 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) announces work progress on the Chimo Mine Project through, among other things, drill results of its ongoing drilling program on the Chimo Mine property and contiguous West Nordeau deposit of the East Cadillac property. Both properties, 100% owned by Cartier, are located 45 km east of the Val-d’Or mining camp.

The results available from the laboratory to date for the current drilling program are as follows:

  • In the East Chimo Mine Sector, one of the holes intersected 9.1 g/t Au over 1.0 m included in 4.5 g/t Au over 2.5 m also included in 2.0 g/t Au over 6.0 m (FIGURE). These results (Table 1) are located on the 3 Gold Structure which has also been intersected by other drill holes of the program as well as by historical drilling (Table 2), thereby defining, by their number and their geometric distribution, the 3E1 Gold Zone. The 3E1 Zone is now the fourth gold zone comprising the East Chimo Mine Sector.
  • In the West Nordeau Deposit Sector the, 5NE1 Gold Zone returned values of 9.6 g/t Au over 1.0 m included in 3.3 g/t Au over 4.6 m were intersected in the 5NE1 Gold Zone of the West Nordeau deposit (FIGURE and Table 1). These values, located at a depth of 800 m, add to the drill results which constitute the resources* of the West Nordeau deposit.

The Chimo Mine Project now consists of 29 gold zones that are situated within 19 gold structures, drilled over a strike length of 3.7 km and locally up to a depth of 1.6 km (FIGURE) where the recent mineral resource estimate, dated August 22, 2022*, reported:

  • 7,128,000 tonnes at an average grade of 3.14 g/t Au for a total of 720,000 ounces of gold in the Indicated category and;
  • 18,475,000 tonnes at an average grade of 2.75 g/t Au for a total of 1,633,000 ounces of gold in the Inferred category.

* NI 43-101 Mineral Resources Estimate for Chimo Mine and West Nordeau Gold Deposits, Québec, Canada, Vincent Nadeau-Benoit, P.Geo., Alain Carrier, P.Geo., M.Sc. and Marc R. Beauvais, P.Eng., InnovExplo Inc., August 22nd, 2022.

The drilling programs planned to date, which are presented in the FIGURE of this press release and, which includes the current program, aim to increase the current resources of the project by 650,000 ounces of gold. As well, an additional drilling program in preparation will aim to explore the gold deposits present along the Larder Lake – Cadillac fault, on the eastern and western periphery of the Chimo Mine property.

The ongoing Preliminary Economic Assessment (PEA) on the combined resources* of the Chimo Mine property and the West Nordeau deposit is progressing well. This NI 43-101 study, which is oriented to maximize the flexibility of the economic aspect of the project, will incorporate the results of industrial sorting tests from Corem and Steinert US which have shown could increase the grade of the mineralization of the Chimo Mine project by 170%.

« With average grades of 3.0 g/t Au, the sorting of the Chimo Mine mineralization carried out underground could, if optimized, produce a primary concentrate at an average grade of approximately 5.0 g/t Au; Which would minimize the costs of extraction, construction and operation of the mill while minimizing the environmental footprint; demonstrating our concern for the social acceptability of the project » commented Philippe Cloutier, President and Chief Executive Officer.

Table 1: Detailed information of new results:

Drill Hole

Coordinates
UTM (°)
Azimut (°)
/Plunge (°)
From
(m)
To
(m)
Au
(g/t)
Length
(m)
Gold
Zone
Gold
Structure
CH22-58A 332591/5320326/-128 228/-73 9280 930.5 4.5 2.5 3E1 3
Included in 928.0 929.0 9.9 1.0
CH22-60 333062/5319962/-203 197/-65 834.4 839.0 3.3 4.6 5NE1 5N
Included in 834.4 835.4 9.6 1.0

The lengths of the mineralized intersections are expressed as lengths measured along the drill core. The estimated true thickness of the mineralized intersections represents approximately 65 to 85% of the measured length.

Table 2: Results of the 3E1 Gold Zone from previous drilling programs:

Drill Hole

Coordinates
UTM (°)
Azimut (°)
/Plunge (°)
From
(m)
To
(m)
Au
(g/t)
Length
(m)
Gold
Zone
Gold
Structure
(LO-84)01- 84-84 332764/5319720/349 200/-51 30.9 32.4 44.7 1.5 3E1 3
CH17-10 332736/5319937/366 200/-59 265.2 266.2 13.6 1.0

The lengths of the mineralized intersections are expressed as lengths measured along the drill core. The estimated true thickness of the mineralized intersections represents approximately 65 to 85% of the measured length.

About Cartier Resources Inc.

Cartier Resources Inc. was founded in 2006 and is an advanced gold project exploration company based in Val-d’Or. The company’s projects are all located in Quebec, which has consistently ranked as one of the world’s best mining jurisdictions. Cartier is advancing the development of its flagship Chimo Mine Project. The Company has a strong cash position exceeding $8.0 M and a significant corporate and institutional endorsement, including Agnico Eagle Mines, O3 Mining and Quebec investment funds.

Qualified Persons

The scientific and technical information on the Company and the Chimo Mine Project 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., Cartier’s 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.

Quality Assurance / Quality Control

Cartier inserts in the batches of samples sent to the laboratory, 5% of the number of samples in the form of certified standards and another 5% in the form of sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec, Canada. Samples of 3 to 5 kg are crushed by the laboratory up to 90% passing a mesh of 10 mesh (2.00 mm) then 500 g of sample is pulverized up to 90% passing a mesh of 200 mesh (0.07mm). The 50 g pulps are analyzed by fire assay and are read by atomic absorption. Samples with results ≥ 1.0 g/t and < 10.0 g/t are re-assayed by fire assay and read by atomic absorption. Results greater than or equal to 10.0 g/t Au are analyzed by fire assay with gravimetric reading. For samples containing visible gold, 500 g of rock are analyzed by the “Metallic Sieve” method.

For more information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
[email protected]
www.ressourcescartier.com

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a2c3eb65-d209-49b1-931e-642cbd2e008a


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