May 14 2020
Cartier Resources Inc. has reported that it has restarted its drill program on the Chimo Mine property, situated 45 km east of Val-d'Or, following Quebec government’s confirmation that effective May 11th, 2020, exploration activities can resume.
Cartier has executed precautionary measures to track the safety and health of consultants, employees, suppliers, contractors, and the community in the wake of the COVID-19 pandemic condition.
The company has modified its operating procedures to suit the recommendations of the Department of Public Health and Province’s Committee on Standards, Equity, and Occupational Safety (CNESST).
With a solid position of $5.5 million in cash, Cartier can pursue its drill program and internal engineering studies and industrial sorting of mineralisation tests with a goal of increasing the resource on the property.
Philippe Cloutier, President and CEO, Cartier Resources Inc.
Located 450 m east of the underground infrastructures, Zones 5CE and 5B4-5M4-5NE are being drilled, with stunning results in 2020 across a distance of 550 m underneath known zones. Extending from surface to a depth of 1,300 m, this band of gold-bearing zones now include the new 5CE zone.
Moreover, tests of industrial sorting of the mineralization and internal engineering studies are underway to evaluate the possibilities of reducing cost while increasing gold ounce recuperation, which could increase the mineral resource of the property, in turn. The completion of the first internal engineering study yielded positive results.
About Chimo Mine Project
In the Chimo Mine property, Cartier holds a 100% interest, of which 1% Net Smelter Return (NSR) royalty has been awarded to IamGold Corporation. Rights of first refusal (buy-back) have not been granted yet.
- The property is accessible throughout the year and is situated close to 6 mills in the Val-d'Or area.
- From 1964 to 1997, three producers exploited 14 gold zones and produced 379,012 ounces of gold (MERN DV 85-05 to DV-97-01).
- The mining infrastructure includes a network of drifts along 7 km, spread across 19 levels and linked by a three-compartment, 5.5 m x 1.8 m shaft for a depth of 920 m. In 2008, the surface installations and the headframe were disassembled, but the sandpit and the 25-kV power line are still intact.
- To date, Cartier has completed drilling consisting of 121 holes, with a total of 55,890 m and 20,792 gold samples collected, on the Chimo Mine property.
This study showed the continuity of the main 5B and 5M gold zones under the current mining infrastructure, investigated the extensions of 19 gold zones along the periphery of the main zones, and explored the extensions of the 7 prioritized gold zones. This enabled the discovery of the Zones 5CE and 5B4-5M4-5NE and developing the prospects of Zone 6N1. These areas are highly promising for future discoveries.