VAL-D’OR, Quebec, Nov. 26, 2021 (GLOBE NEWSWIRE) — Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces the results of Abitibi Geophysique Inc.’s InfiniTEM® XL geophysical survey and subsequent drilling on the Benoist property, located 65 km northeast of Lebel-sur-Quévillon, Quebec, Canada. The programs aimed to further develop the potential of the project following the results of the first NI 43-101 resource estimate1, published on January 29, 2021 (FIGURE 1).
1: Cartier files on SEDAR the NI43-101 technical report of the mineral resource estimate of the Pusticamica Gold Deposit on the Benoist property, InnovExplo Inc., MM. Beausoleil and Savard, January 28 2021.
The surface geophysical survey and geophysical surveys carried out in the drill holes, outlined a zone of anomalous conductance associated with the presence of weakly conductive mineralization, peripheral to the Pusticamica deposit over a strike length of 3.0 km and 350 m wide, located under Lake Pusticamica (FIGURE 2).
The drill program, carried out between January 5 and September 30, 2021, consisted of 27 holes for a total of 17,000 m. The two phases of the program are as follows:
- 10 holes were drilled along the lateral extension of the Pusticamica gold deposit within the anomalous conductance zone to explore its gold potential with a view to discovering new deposits. The drill holes tested beneath Lake Pusticamica at depths between 150 m to 500 m (FIGURE 3), 85% of the surface of the currently known potential gold corridor with an average spacing of 200 m.
- 17 deep holes were completed along the depth extension of the Pusticamica gold deposit, between 700 m and 1,300 m (FIGURE 3), with the objective of increasing the size of the deposit and/or discovering new gold zones. The resources1 of the Pusticamica Gold deposit include 134,400 oz Au in the indicated category and 107,000 oz Au in the inferred category.
- All of the drill holes beneath the Pusticamica deposit intersected sulphides and alteration Zone (FIGURE 4) over an area 1,400 m in length (dipping 60 degrees towards the southwest) by 300 m in width with thicknesses estimated between 21 m to 39 m with weighted average grades respectively of 0.66 g/t Au and 0.40 g/t Au.
- Additional drill results are pending.
« The Benoist mineralized system, as demonstrated by the recent drilling, is present over a strike-length of 3 km, attains widths of 350 m and reaches a depth of 1 300 m and is still open. It includes the resources1 of the Pusticamica deposit. However, the 2021 drilling did not identify additional high-grade zones. We continue to receive results and will re-appraise the Benoist project potential at the completion of all drilling data » commented Philippe Cloutier, President and CEO.
Cartier Resources Inc., which was founded in 2006, is an exploration company based in Val-d’Or. The company’s projects are all located in Quebec, which regularly ranks among the best mining jurisdictions in the world. Cartier is advancing the development of its flagship Mine Chimo project and actively exploring its other projects. The Company has a solid cash position exceeding $ 6.3 M and significant corporate and institutional support, notably with Agnico Eagle Mines, Jupiter Asset Management and the Quebec investment funds.
The scientific and technical information on the Company 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., 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.
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