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Cartier Iron Provides Update on Exploration for Low Sulphidation Gold-Silver Epithermal Mineralization at Big Easy, Newfoundland
TORONTO, June 14, 2022 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the “Company”) carried out a 17-hole diamond drill program tota
About this update from Cartier Silver Corporation
[{"type":"text","content":" TORONTO, June 14, 2022 (GLOBE NEWSWIRE) -- Cartier Iron Corporation (CSE:CFE) (“Cartier Iron” or the “Company”) carried out a 17-hole diamond drill program totaling 9,470.6m in winter 2022 to test significant resistivity anomalies along a major north-northeast trending structural break outlined by the Controlled Source Audio Magneto-Telluric (“CSAMT”) survey in the Central Anomaly – Big Easy Showing Area (see Cartier Iron’s May 10, 2022 press release). Although assay results returned only geochemically anomalous values of silver, all the drill holes intersected wide sections of interbedded rhyolite and siltstone up to 150m thick in the lower part of the Musgravetown Group. Hydrothermal alteration is very extensive consisting primarily of silicification and phengite micas. Hole BE-21-35, drilled in the winter 2021 program, returned 0.45 g/t Au and 9.7 g/t Ag over 34m, while Hole BE-21-36 intersected 0.62 g/t Au and 16.12 g/t Ag over 13m; but, a downdip continuation of this system was not intersected in the interbedded rhyolite and siltstone below the structural break. The shallow-gold bearing low resistivity zone where previous drilling by Cartier Iron in the Central Anomaly area was successful in confirming an extensive zone of silicification up to 200m wide with low sulphidation epithermal gold-silver mineralization (see Cartier Iron’s June 8, 2021 press release) appears to be separated from the area drilled in winter 2022 by a major thrust fault (Figure 1). Historically, gold at the Big Easy Zone has been associated with silicified sediments that contain a few percent pyrite and clay alteration products that lead to the comparatively low resistivity. The large alteration halo defined by the pyrite chargeability can be traced for kilometres, southwards from the Big Easy Zone, but only on the west side of the inferred major structure as shown in Figure 2. Drilling at the Big Easy Zone only extended to approximately 260m in vertical depth but it returned the highest gold grades to date and a wide intersection of 0.87 g/t over 30.5m within a broader zone in BE11-03. (see Silver Spruce Resources Inc.’s May 3, 2011 press release). Dr. Bill Pearson, P.Geo. Chief Technical Advisor for Cartier Iron commented: “Based on a comparison to other low sulphidation epithermal deposits, Big Easy has a permissive environment to host a significa...