Business
Cartier Resources Increases Gold Resources of the Chimo Mine Property
Highlights : Adding the resource estimate of the North and South Gold Corridors to those of the Central Gold Corridor, the Chimo Mine property now hosts mineral
About this update from Cartier Resources Inc.
[{"type":"text","content":" Highlights : Adding the resource estimate of the North and South Gold Corridors to those of the Central Gold Corridor, the Chimo Mine property now hosts mineral resources of (FIGURE) : 4,017,600 tonnes at an average grade of 4.53 g/t Au for a total of 585,190 ounces gold in the Indicated category; 4,877,900 tonnes at an average grade of 3.82 g/t Au for a total of 597,800 ounces gold in the Inferred category. For more detail, using a price of gold of 1,300 $ US / oz and a cut-off grade of 2.5 g/t Au; the resource estimate of the North and South Gold Corridors produced: 754,300 tonnes at an average grade of 5.11 g/t Au for a total of 123,910 ounces gold in the Indicated category and; 1,196,300 tonnes at an average grade of 4.69 g/t Au for a total of 180,550 ounces gold in the Inferred category. Work in progress that aims at increasing the resources are the following: Drilling below Zones 5B4-5M4-5NE and 5CE; Internal engineering studies and industrial sorting of mineralization. VAL-D’OR, Quebec, May 05, 2020 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (\"Cartier\") announces the results of the mineral resource estimate of the North and South Gold Corridors of the Chimo Mine property, located 45 km east of Val-d'Or. The estimate, completed and made available on May 4th, 2020, was prepared by Mrs. Claude Savard, P. Geo., from InnovExplo Inc., an independent Qualified Person as defined by NI 43-101. Mrs. Christine Beausoleil, P. Geo. and Mr. Alain Carrier, P. Geo., M. Sc. of InnovExplo Inc. contributed with the cross checks and standard validations. ″ These additional resources, situated near surface and accessible by existing infrastructure, is a considerable advantage to launching a mine project ″ commented Philippe Cloutier, President and CEO, adding ″ furthermore, two drill rigs are in the field to pursue drilling of Zones 5B4-5M4-5NE and 5CE where continuity of the mineralization has been shown to extend to a depth of 1,300 meters ″. Mineralization of the Chimo Mine property consists of 27 gold-bearing Zones hosted within 17 gold-bearing Structures that comprise three Gold Corridors. The mineral resources estimated to date on the property are presented in the table below (FIGURE): Gold CorridorsCut-off Grade2.5 g/t Au Indicated Resources Inferred Resources Metric Tonne...