Cartier reports 142.2 g/t gold over 0.5 metre at the Chimo mine project

Cartier Resources (TSXV:ECR) has announced new drill results from the ongoing program at its Chimo mine project, which includes the Chimo mine and the East Cadillac properties. The exploration of the East Cadillac property began on Jan. 4, 2024, following its acquisition on April 7, 2022. Both properties are located 45 km east of the Val-d’Or mining camp in Quebec and are 100% owned by Cartier.

Key results from the drilling program include:

• 142.2 g/t gold over 0.5 metre, within 74.4 g/t gold over 1.0 metre.
• 137.4 g/t gold over 0.5 metre, within 69.5 g/t gold over 1.0 metre.
• 24.1 g/t gold over 0.5 metre.
• 12.8 g/t gold over 0.5 metre, within 8.0 g/t gold over 1.2 metres.
• 22.3 g/t gold over 1.0 metre from a new structure 50 metres from the VG10 zone.

The VG10 zone, which starts at the surface, shows potential. Of the 15 drill holes completed so far, 60% intersected visible gold. The ongoing drilling program is testing 54 targets along a 20-km strike length of the Larder Lake-Cadillac Fault zone.

“A second drill will soon be added to the current program in order to continue the discovery of new potential sectors while allowing follow-up on the high grades obtained to date,” said Cartier president and CEO Philippe Cloutier.

The Chimo mine project has an indicated resource of 7.13 million tonnes at 3.14 g/t gold, totaling 720,000 oz., and inferred resources of 18.48 million tonnes at 2.75 g/t gold, totaling 1.7 million oz. The project’s after-tax net present value, based on a 5% discount rate and a US$1,750/oz. gold price, is $388 million, with an internal rate of return of 20.8%. The after-tax payback period is 2.9 years, with a mine life of 9.7 years.

For more information, visit www.RessourcesCartier.com.