Philippe Cloutier, CEO of Cartier Resources, discusses the October 1, 2024 News Release – “Cartier Mobilizes Second Drill Rig to Advance High-Grade Gold Discovery on East Cadillac”
Cartier Resources has announced the deployment of a second drill rig at its 100%-owned East Cadillac property, located 45 km east of Val-d’Or. The expansion is part of Cartier’s ongoing 28,000-meters drill program targeting high-grade gold sectors.The second drill is now active, focusing on the recently discovered high-grade gold VG10 Zone and extending exploration along the VG Structure over a 1.5 km strike.
“We’re excited to accelerate exploration of high-grade gold zones on East Cadillac with the second drill,” commented Philippe Cloutier, President and CEO. “The consistency and grade of the VG9-VG10 Zones have been impressive, and we’re eager to expand their potential. Meanwhile, our first drill continues to deliver encouraging visual results from regional targets.” Full release: http://bit.ly/4eoKRCd $ECR.v #gold #abitibi
A great presentation that you don’t want to miss!
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Cartier Resources focuses on developing gold deposits, notably the Chimo Mine in Quebec. With a solid resource base of 2.3 million ounces and a positive preliminary economic assessment (PEA), they offer compelling growth potential. Positioned in a mining-friendly jurisdiction with strong infrastructure and significant exploration upside, Cartier Resources is set to deliver substantial shareholder value.
WATCH IT HERE: Cartier Resources Mobilizes Second Drill Rig to Advance High-Grade Gold Discovery on East Cadillac
TSXV: ECR | FSE: 6CA
HEAD OFFICE
1740, chemin Sullivan, bureau 1000
Val d’Or (Québec) J9P 7H1
T: 819-874-1331
TF: 1-877-874-1331
E: philippe.cloutier@ressourcescartier.com
W: 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: Their PEA demonstrates strong economic metrics with an NPV of $388 million CAD and an IRR of 21%.
- Large Land Package: The Chimo Mine covers a substantial area with significant exploration upside.
- Mining-Friendly Jurisdiction: Quebec offers supportive regulations, infrastructure, and a skilled workforce.
- Solid Shareholder Base: Notable investors, including Agnico Eagle, O3 Mining, and Quebec Sovereign funds, own just under 40% of the company.
- Attractive Valuation: Cartier Resources trades at under 10% of the full value of their asset, presenting a compelling opportunity.
- Strong Cash Position: 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.
They invite you to consider Cartier Resources as a valuable addition to your investment portfolio. For more information, please contact Philip Cloutier directly at 819-856-0512. He looks forward to discussing Cartier Resources and their exciting prospects with you.
$ecr #gold #abitibi
