VAL-D’OR, Quebec, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) has awarded InnovExplo the contract to produce a resource estimate for the Pusticamica deposit on the Company’s Benoist Property and to prepare a supporting technical report in accordance with National Instrument 43-101 (“NI 43-101”). The property is located 65 km northeast of Lebel-sur-Quévillon in the province of Québec.
Over the past few months, InnovExplo has worked closely with Cartier staff, particularly Ronan Déroff, P.Geo., Senior Geomatician, to build a 3D gold mineralization model for the Benoist Property. This newly structured database will speed up InnovExplo’s data modelling that will form the basis of the resource estimate.
“Thanks to these efforts, we can now move to the stage of NI 43-101 technical reporting and mineral resource estimation. The work has also allowed us to design the drilling campaign that we are currently setting up in the field,” commented Philippe Cloutier, President and CEO.
Features of the Benoist Project
- The Benoist property hosts the Pusticamica gold deposit, which also contains copper and silver concentrations.
- This mineralization has all the typical characteristics sought by Cartier and as at the Chimo Mine project could rapidly outline high-tonnage mineralization.
- Cartier holds a 100% interest in the property for which 2.5% net smelter return (“NSR”) royalties have been awarded of which 2.0% is redeemable at any time for C$2M.
- The property, which is accessible year-round via forestry road 3000, is located near the mills of the Langlois and Bachelor mines and the future mill of Osisko Mining’s Windfall Project.
- Work to date on the property consists of 93 boreholes totalling 32,356 m, resulting in 14,243 samples collected over a sampled length of 14,647 m.
Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec. The province has consistently ranked as one of the world’s best mining jurisdictions, primarily because of its favourable geology, attractive fiscal environment, and pro-mining government.
- The Company has a strong cash position with more than $13.5 million and a significant corporate and institutional endorsement, including Agnico Eagle Mines, Merian Global, and Quebec investment funds.
- Cartier’s strategy is to focus on gold projects with features that offer the potential for rapid growth.
- The Company holds a portfolio of exploration projects in the Abitibi Greenstone Belt of Quebec, one of the world’s most prolific mining regions.
- The Company’s focus is to advance its four key projects through drilling programs. All of the projects were acquired at reasonable costs in recent years and are drill-ready with targets along the geometric extensions of gold deposits.
- Exploration work is currently focused on the Chimo Mine and Benoist properties to maximize value for investors. The Company is preparing the next phase of exploration work, which will entail drilling programs on the Benoist, Fenton and Wilson properties.
The scientific and technical information on the Company and the Benoist Project in this news release was prepared and reviewed by Mr. Gaétan Lavallière, P.Geo., PhD, 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.
Ms. Claude Savard, P.Geo., Senior Geologist for InnovExplo Inc., is the independent qualified person for the issuer, as defined in NI 43-101, and the person responsible for the mineral resource estimate for the Pusticamica gold deposit on the Benoist Property. Ms. Savard declares that she has read this press release and that the scientific and technical information herein, as it relates to the resource estimate, is compliant with NI 43-101.
InnovExplo is a consulting firm providing services in mineral exploration, mining geology, mineral resources, mining engineering, the environment, and sustainable development. Since its founding in 2003, InnovExplo has worked on 450 different mandates for 170 junior mineral exploration companies and producers. The firm has produced more than 300 geological or engineering reports for projects covering almost all areas of a mining project, from exploration to operations, mainly including the drafting of NI 43-101 technical reports.
For more information, please contact:
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
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