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Cartier Resources Resumes Drilling on the Chimo Mine Property
Highlights: Drilling with two rigs resumes on the depth extension of Zones 5B4-5M4-5NE and 5CE discovery; Concurrently, internal engineering studies and industr
About this update from Cartier Resources Inc.
[{"type":"text","content":" Highlights: Drilling with two rigs resumes on the depth extension of Zones 5B4-5M4-5NE and 5CE discovery; Concurrently, internal engineering studies and industrial sorting of mineralisation tests are progressing with the goal of increasing the resources. VAL-D’OR, Quebec, May 13, 2020 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (\"Cartier\") announces that it resumes its drill program on the Chimo Mine property, located 45 km east of Val-d'Or. This follows the Quebec’s government confirmation that exploration activities can resume effective May 11th, 2020. Cartier has implemented precautionary measures to monitor the health and safety of employees, contractors, consultants, suppliers and the community with respect to the COVID-19 situation. The Company has adapted its operating procedures to comply with the recommendations of the Department of Public Health and Province’s Committee on Standards, Equity, and Occupational Safety (CNESST). ″With a solid position of $5.5 million in cash, Cartier can pursue its drill program and internal engineering studies and industrial sorting of mineralisation tests with a goal of increasing the resource on the property″ commented Philippe Cloutier, President and CEO. Zones 5B4-5M4-5NE and 5CE, situated 450 m east of the underground infrastructures are being drilled reported excellent results in 2020 over a distance of 550 m below known zones. This cluster of gold-bearing zones extends from surface to a depth of 1,300 m and now include the new Zone 5CE. As well, internal engineering studies and tests of industrial sorting of the mineralisation are in progress in order to assess possibilities of cost reduction while increasing gold ounce recuperation, which in turn could contribute to increasing the mineral resource of the property. The first internal engineering study was completed with positive conclusions. About Chimo Mine Project Cartier holds a 100% interest in the property for which 1% NSR ('' Net Smelter Return '') royalty has been granted to IamGold Corporation. No rights of first refusal ('' buy-back '') have been granted. The property, which is accessible year-round, is located near 6 mills in the Val-d'Or area. Fourteen gold zones were exploited by 3 producers between 1964 ...