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Cartier IP Survey Outlines 4km Long Chargeability Anomaly Marking Major Epithermal System at Big Easy Property, Newfoundland
Chargeability anomaly extends 4km along strike from the Big Easy to ET showings and is open to the north and south Cartier has staked 98 new claims to the north
About this update from Cartier Silver Corporation
[{"type":"text","content":" Chargeability anomaly extends 4km along strike from the Big Easy to ET showings and is open to the north and south Cartier has staked 98 new claims to the north to cover a total potential strike length of 23.5km on the expanded property TORONTO, May 01, 2018 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE:CFE) (“Cartier Iron”), is pleased to announce the successful completion of a 48-line kilometre Induced Polarization/Resistivity (IP/Res) survey at the Big Easy Property (“Big Easy”) by MES Geophysics of St. John’s, Newfoundland under the direction of Dr. Chris Hale, P.Geo., Chief Geophysicist for Cartier Iron. Big Easy is located approximately 20 kilometres northwest of the town of Clarenville, about 200km northwest of St. John’s, Newfoundland. Big Easy is a remarkably preserved and extensive low sulphidation epithermal gold-silver system that occurs on a prominent boundary between volcanic and sedimentary rocks in the Neoproterozoic Avalon Zone. The mineralization at Big Easy shows similarities to that of the Haile Mine in South Carolina that is producing at an annualized rate of up to 150,000 ounces of gold (see OceanaGold Corporation’s press release dated January 18, 2018). The new IP/Res data highlight an extensive mineralized epithermal system that includes both the Big Easy and ET mineralized zones where historical drilling intersected gold-bearing epithermal quartz veins including 6.05 g Au/t and 174 g Ag/t over 1.5m (Hole BE-11-13) and 7.65 g Au/t over 1.0m (Hole BE-11-07), (Newfoundland and Labrador, Department of Natural Resources, Mines Branch Assessment File Reports on the Property). As shown in Figure 1, this chargeability anomaly can be traced over a strike length of more than four kilometres between the Big Easy and ET showings. This anomaly is open to the north and south. Cartier Iron has staked an additional 98 claims to cover the potential northern extension bringing the total property to 467 claims covering 116.8 km2. These claims cover a potential strike length of 23.5km (Figure 2). Tom Larsen, President & CEO of Cartier commented: “We are very pleased with the results of the IP/Res survey. This has confirmed our belief that there is a major epithermal system on the Big Easy property which bodes well for the potential for finding a significant gold deposit.” Dr. Bill Pearson, P....