Cartier Resources Inc. [TSXV-ECR; FSE-6CA] reported results of its continuing drilling program for the Chimo mine project, Quebec. The project comprises the Chimo Mine and East Cadillac properties, the latter of which was acquired on April 7, 2022. Cartier began exploring this new area of the project in 2024. Both properties are 100%-owned by Cartier and are located 45 km east of the Val-d’Or mining camp.
Highlights: New results from the VG Zone: 13.2 g/t gold over 2.3 metres, including 46.1 g/t gold over 0.5 metres and 7.5 g/t gold over 2.0 metres, including 20.6 g/t gold over 0.5 metres.
The results were obtained in the VG Zone at depths of 35 and 45 metres, respectively. High gold grades are also present 275 m to the west and 550 metres to the east of the VG Zone, defining the VG Structure along a strike length of 850 metres.
“This third set of high-grade results from the VG Structure since August 2023 puts us on track to start a new drilling phase on the VG Zone to further increase its size and continue the search for other gold zones along the prospective 15 km strike of the project,” commented Philippe Cloutier, President and CEO.
The Chimo Mine Project: Positive PEA, after tax: NPV 5% of CA$388M and 21% IRR. MRE: 720,000 ounces of gold in Indicated Resources and 1,633,000 ounces of gold in Inferred Resources.
Founded in 2006, Cartier Resources is an exploration Company based in Val-d’Or, Quebec, Canada. The company’s projects are located in Quebec. Cartier is actively advancing the development of its flagship Chimo Mine Project and exploring its other projects. The company has a cash position of $4.2 million and significant corporate and institutional support, including Agnico Eagle Mines, O3 Mining and provincial investment funds.
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