Cartier Resources drills 0.9 g/t gold over 42 metres at Chimo, Quebec
Cartier Resources Inc. [ECR-TSXV] reported drill hole results from the program that is in progress at the Chimo mine project, where a recent preliminary economic assessment (PEA) demonstrated its economic viability. The Chimo mine property, which is 100% owned by Cartier, is located 45 km east of the Val d’Or mining camp.
“The new results show the discovery potential of the West Chimo mine sector, which has seen very little drilling to date, as well as the remainder of the property, where gold-bearing zones remain to be further drilled in order to increase their dimensions with a view to fully optimize the resource growth potential of the project,” commented Philippe Cloutier, president and CEO.
West Chimo mine sector: The new 5BW gold zone, which is composed of values such as 16.8 g/t gold over one metre, six g/t gold over one metre and 1.2 g/t gold over 16 metres, is situated at 100 metres west of Chimo mine drifts between depths of 75 metres and 350 metres. Two holes were drilled between depths of 150 metres and 350 metres, which assays are pending, in order to explore the vertical extension.
The new 6N1W mineralized zone, is composed of values such as 13.2 g/t gold over 0.5 metres and six g/t gold over one metre, including 3.3 g/t gold over five metres, all of which are included in a wider interval of 42 metres grading 0.9 g/t gold. This new zone is situated only 50 metres west of Chimo mine drifts between depths of 450 metres and 600 metres. One drill hole is currently in progress in order to explore the vertical extension of the zone between depths of 600 metres and 835 metres.
The geometry of the Chimo mine gold system should show a certain symmetry on either side of the main mineralized sector of the project currently known as the Chimo mine sector. These first drill results already suggest the development of a good discovery potential in the West Chimo mine sector, which is situated proximal to the Chimo mine infrastructures and which have been little explored to date.
East Chimo mine sector: New drill hole intersections that increase the dimension of the gold-bearing zones of the East Chimo mine sector: 3E1 gold zone returned 13 g/t gold over one metres situated at a depth of 800 metres.
5BE gold zone returned 9.7 g/t gold over one metre, included in 6.5 g/t gold over two metres situated at a depth of 650 metres.
With these results, the Chimo Mine Project, currently being drilled over a length of 3.7 km by 1.6 km depth, now consists of 30 gold-bearing zones that are situated within 19 gold-bearing structures.
Cartier Resources 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. Cartier is advancing the development of its flagship Chimo Mine Project. The company has over $4.5 million and a significant corporate and institutional endorsement, including Agnico Eagle Mines, O3 Mining and Quebec investment funds.