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VAL-D’OR, Quebec, June 02, 2022 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) has awarded to InnovExplo Inc. (“InnovExplo”) the mandate to estimate the gold resources of the Nordeau West deposit located 450 m east of the Chimo Mine property and prepare a technical report in accordance with NI 43-101. The Chimo Mine property and contiguous East Cadillac property, containing the Nordeau West deposit, whose interests are 100% owned by Cartier, are located 45 km east of Val-d’Or situated along the Cadillac-Larder Lake Fault.
Over the past two years, three (3) NI 43-101 resource estimates have been completed on the Chimo Mine property with 684,000 oz of Au in the indicated category and 1,358,000 oz of Au in the inferred1 category. The recent acquisition of the Nordeau West deposit increases the NI 43-101 resource to 714,400 oz of Au in the indicated category and 1,527,400 oz of Au in the inferred1,2 category; strengthening the economic aspect of the Chimo Mine project.
“This new resource estimate will allow the NI 43-101 resources of the Nordeau West deposit to be integrated with the resource estimate parameters that take into account the lateral proximity of the existing and projected mining infrastructures of the Chimo Mine property,” commented Philippe Cloutier, President and CEO of Cartier Resources.
1 « NI 43-101 Technical Report and Mineral Resource Estimate Update for the Chimo Mine Project, Québec, Canada, Christine Beausoleil, P. Geo. and Claude Savard, P. Geo., InnovExplo Inc., March 2021 ».
2 « 2019 Technical Report & Mineral Resources Estimate : East Cadillac Gold Project, Val-d’Or, Québec, John Langton, P. Geo., Vincent Jourdain, P. Eng., MRB & Associates, April 30th 2019 ».
About Cartier Resources Inc.
Cartier Resources Inc. was founded in 2006 and is a Val-d’Or based exploration company. The company’s projects are all located in Quebec, which has consistently ranked as one of the world’s best mining jurisdictions. Cartier is advancing the development of its flagship Chimo Mine Project and actively exploring its other projects. The Company has a strong cash position exceeding $7.0 million and a significant corporate and institutional endorsement, including Agnico Eagle Mines, O3 Mining and Quebec investment funds.
About InnovExplo Inc.
InnovExplo Inc. is a consulting firm providing services in mineral exploration, mining geology, mineral resources, mining engineering and sustainable development. Since its founding in 2003, InnovExplo Inc. 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.
The scientific and technical information on the Company and the Chimo Mine Project 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., 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.
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.