At the request of IIROC, the Company wishes to retract and clarify certain disclosure in its January 15, 2019 news release. Specifically, the disclosure “doubling resource potential” is a violation of NI 43-101, 2.3(1)(a) – Restricted Disclosure, as “resource potential” is not a recognized term for Canadian securities legislation, nor can “resource potential” be “doubled” and is therefore misleading. All references to “resource potential” and “doubling resource potential” are retracted. The drill results disclosed in the news release should have been disclosed as exploration results and are accordingly clarified in this release.
VAL-D'OR, Quebec, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (ECR.V) ("Cartier") reports exploration results in compliance with NI 43-101, 3.3 – Requirements Applicable to Written Disclosure of Exploration Information, the following: drill results grading 12.4 g/t Au over 5.0 m included within 5.9 g/t Au over 12.0 m and within a broader section of 45.5 m grading 2.0 g/t Au on the Chimo Mine property, located 45 km east of Val-d'Or. The new 5M4 Zone returned 15.8 g/t Au over 1.0 m included in 2.2 g/t Au over 22.0 m. The position of the intersections, at a depth of 700 m, extends the mineralized Zones 5NE and 5M4 350 m (FIGURE) below previous drill intersections.
Zones 5NE and 5M4, located at the eastern end of the property, are only 25 m apart. The drill hole intersection of 2.0 g/t Au over 45.5 m generates a metal factor of 91, which offers additional options for considering an economic outlook. These new zones could be accessible via 450 m of development from existing mining infrastructures. The FIGURE illustrates the shape of the mineralized zones known to date at Chimo Mine and ongoing exploration aims to further increase their dimensions.
« The results obtained so far confirm the importance of continuing to explore this project in order to increase the number of mineralized gold zones as well as their dimensions. » commented Philippe Cloutier, President and CEO.
The details of the new results received from the laboratory are as follows:
|Drill Hole||From |
|Gold Zone||Gold Structure|
|Lengths are expressed along drill core axis. The true thickness was not determined.|
The Phase II drilling program currently underway is focused on the resource development potential of 7 peripheral gold zones to the main cluster of Zones 5. This program consists of 40 drill holes totaling 15,000 m.
Cartier Resources was founded in 2006 and is based out of Val-d'Or, Quebec. Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government. In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.
Quality Assurance / Quality Control
All lengths, mentioned in this press release, were measured along the drill core. The NQ core samples are crushed up to 80% passing 8 mesh sieves and then pulverized up to 90% passing a 200-mesh sieve. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of sterile samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and atomic absorption. For samples containing visible gold, 1,000 g of rock are directly analyzed by the "Metallic Sieve" method.
The scientific and/or technical information presented in this press release has been reviewed and approved by Mr. Gaétan Lavallière, P. Geo., Ph. D. and Vice President for Cartier Resources. Mr. Lavallière is a qualified person as defined by National Instrument 43-101.
|For more information, please contact: |
Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/a0c27765-1068-4742-82fa-48770e9b126f