Philippe Cloutier, CEO of Cartier Resources, provides a historical overview of the Chimo Mine Project, covering its initial production 60 years ago, closure due to gold price challenges, and rejuvenation in 2013. He also discusses the recent preliminary economic assessment, which shows a current gold resource estimate of 720,000 oz in the indicated category. He concludes with insights from the November 21 news release, highlighting the identification of 11 new drill targets on the Chimo Mine Project. Watch: 11 New Drill Targets Identified at Chimo Mine Project – Cartier ResourcesÂ
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Founded in 2006, Cartier Resources is an exploration company based in Val-d’Or, Québec, Canada. The Company’s projects are located in Québec, which consistently ranks among the world’s best mining jurisdictions. Cartier is actively advancing the development of its flagship East Cadillac Project and is looking for business partners for its other projects. The Company has significant corporate and institutional support, including Agnico Eagle Mines, O3 Mining and provincial investment funds.
With supportive regulations, infrastructure, and skilled workforce in Quebec, Cartier Resources is well-positioned for growth and aims to unlock more value from the Chimo Mine project.
HEAD OFFICE
1740, chemin Sullivan, bureau 1000
Val d’Or (Québec) J9P 7H1
T: 819-874-1331
TF: 1-877-874-1331
E:Â philippe.cloutier@ressourcescartier.com
W:Â ressourcescartier.com
For more information, contact:
Philippe Cloutier, President and CEO
More About Cartier Resources……
Company Overview
Cartier Resources is dedicated to discovering and developing gold deposits in Quebec, Canada. Their flagship project, the Chimo Mine, is located in a region with substantial infrastructure and a rich mining history. They have delivered four resource estimates and a preliminary economic assessment (PEA), showcasing robust potential.
The Value Proposition
The Chimo Mine project, situated east of Val-d’Or, Quebec, covers a sizable area. It has produced nearly 400,000 ounces of gold historically and now boasts a total resource of 2.3 million ounces. Their recent PEA, using a long-term gold price of $1750 per ounce, highlights an NPV of $388 million CAD and an IRR of 21%.
Strategic Location
Located in a mining-friendly jurisdiction, the Chimo Mine benefits from excellent infrastructure and a skilled workforce. This strategic positioning minimizes operational risks and enhances development efficiency.
Exploration Potential
They have expanded the project’s footprint and identified numerous new gold discoveries. In 2024, Cartier Resources plans to drill over 160 diamond drill holes, targeting over 50 high-priority areas, aiming to further define and expand these discoveries.
Investment Highlights
- Positive PEA:Â Their PEA demonstrates strong economic metrics with an NPV of $388 million CAD and an IRR of 21%.
- Large Land Package:Â The Chimo Mine covers a substantial area with significant exploration upside.
- Mining-Friendly Jurisdiction:Â Quebec offers supportive regulations, infrastructure, and a skilled workforce.
- Solid Shareholder Base:Â Notable investors, including Agnico Eagle, O3 Mining, and Quebec Sovereign funds, own just under 40% of the company.
- Attractive Valuation:Â Cartier Resources trades at under 10% of the full value of their asset, presenting a compelling opportunity.
- Strong Cash Position:Â With $3.8 million in the bank, they are well-funded to execute their exploration plans.
Future Growth
Cartier Resources is well-positioned for future growth, with ongoing drilling programs designed to unlock the full potential of the Chimo Mine project. Their strategic location, combined with significant upside potential, provides a solid foundation for continued value creation.
Conclusion
Cartier Resources offers a compelling investment opportunity based on the strong potential of their flagship Chimo Mine project. With robust economic metrics, significant exploration upside, and a strategic location in a mining-friendly jurisdiction, they are poised to deliver substantial returns for their shareholders.
