Cartier Resources (TSXV: ECR) has drilled gold intersections as high as 14.7 g/t gold over 4.3 metres at its 100%-owned East Cadillac property, 45 km east of Val d’Or, Que. This discovery of a new gold-bearing zone was made during the 28,000-metre exploration program at the site.
Multiple high-grade gold intersections were made near surface over considerable thickness, in what the company calls a new gold system at the North Contact sector. Here are the highlights:
- 14.6 g/t gold over 4.3 metres within 5.2 g/t over 20.6 metres.
- 6.3 g/t gold over 4.0 metres within 3.0 g/t over 15.0 metres.
- 15.0 t/t gold over 1.0 metre within 5.7 g/t over 4.0 metres
Two drill rigs remain active along the regional Larder Lake-Cadillac fault zone.
“The results at North Contact are impressive and in the continuity of VG9, VG10 and East Bateman high-grade gold discoveries. This new gold-bearing trend provides us various options generating numerous exploration opportunities to discover one or more gold systems that range from high to moderate gold grade,” said president and CEO Philippe Cloutier in a release.
The East Cadillac site, acquired in April 2022, is part of the historic Chimo gold mine property. Cartier holds 100% of both properties. A preliminary economic assessment was made of the Chimo project, including East Cadillac, in 2023. It posits 7.1 million indicated tonnes grading 3.14 g/t gold (720,000 oz.) and 18.5 million inferred tonnes at 2.75 g/t gold (1.6 million oz.) Using a gold price of US$1,750/oz. the project was given a post-tax net present value of $388 million and an internal rate of return of 20.8%. Production of 116,900 oz. of gold annually at an all-in sustaining cost of US$755/oz. is anticipated.
More details are available at www.RessourcesCartier.com.
