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Cartier Resources Awards Chimo Mine Project PEA to InnovExplo
VAL-D’OR, Quebec, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce that it has awarded to InnovExplo Inc
About this update from Cartier Resources Inc.
[{"type":"text","content":" VAL-D’OR, Quebec, Nov. 04, 2021 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) is pleased to announce that it has awarded to InnovExplo Inc. (“InnovExplo”) which will work in collaboration with the firm PRB Mining Services Inc., the mandate to prepare a Preliminary Economic Assessment (“PEA”) in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) for its 100% owned Chimo Mine Project situated along the Cadillac-Larder Lake Fault, 45 km east of Val-d'Or. “We are pleased that our Chimo Mine Project has reached this important milestone and believe it will demonstrate the significant potential of this key asset in the rich Val-d’Or mining district” commented Philippe Cloutier, President and CEO of Cartier Resources. Highlights of the Chimo Mine Project The project hosts a resource consisting of (FIGURE) : 6,616,000 tonnes at an average grade of 3.21 g/t Au for a total of 684,000 ounces of gold in the Indicated category and; 15,240,000 tonnes at an average grade of 2.77 g/t Au for a total of 1,358,000 ounces of gold in the Inferred category. This mineral resource estimate for the Mine Chimo property was completed and made available on the effective date of March 22, 2021. The mineral resource estimate was carried out by Ms. Christine Beausoleil, P. Geo. of InnovExplo Inc., an independent qualified person within the meaning of NI 43-101. The technical report is titled \" NI 43-101 Technical Report and Mineral Resource Estimate for the Chimo Mine Project, Quebec, Canada \", bearing the date of signature of the May 6th, 2021 and is available on SEDAR and on the Company's website. The resource estimate is constrained using DSO (“Deswik Stope Optimizer”) with a cut-off grade of 2.0 g/t Au for the North and South Gold Corridors and 1.5 g/t Au for the Central Gold Corridor and using a price of gold of USD 1,612 US / oz. There is significant infrastructure on site including a 920 m deep three-compartment shaft and a 25 kV power line. The property is accessible year-round and is strategically located in the Val-d’Or mining camp and near third party-owned ore processing facilities. Cartier’s drilling to date on the Chimo Mine Property consists of 124 holes totalling 58,054 m and 21,867 samples collected for gold analysis. The property contains fourteen gold zon...