Cartier Resources Inc. (TSXV: ECR; FSE: 6CA) (“Cartier″ or the “Company″) is pleased to announce it has awarded all contracts for its fully funded, 100,000-metre diamond drilling program at its 100%-owned Cadillac Project, located in the heart of the Val-d’Or mining camp, Quebec. This ambitious 18-month campaign is the largest ever undertaken on the project and marks a major step forward in Cartier’s strategy to unlock the district-scale high-grade gold potential along the 15 km Cadillac Fault corridor.
The 100,000-metre diamond drilling program will include approximately 600 drill holes and be supported by two drill rigs. Targeting will focus on both expanding known gold zones and testing new high-priority grassroots targets identified through ongoing geological modelling and past exploration success. Permitting process is now underway and planned launch of program is anticipated for late August, 2025.
“This is a transformational phase for Cartier and the Cadillac Project,″ commented Philippe Cloutier, President and CEO. “With over $11 million in cash, no debt and full ownership of the entire 15 km gold-bearing strike, we are in a strong position to aggressively explore and grow our high-grade gold inventory.″
The Company recently optioned three gold projects: Benoist, Fenton, and Wilson to Exploits Discovery Corp., enabling Cartier to concentrate its resources and technical team on the Cadillac Project’s development.
Qualified Person
The scientific and technical content of this press release has been prepared, reviewed and approved by Mr. Ronan Déroff, P.Geo., M.Sc., Vice President Exploration, who is a “Qualified Person″ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101″).
About Cartier Resources Inc.
Cartier Resources Inc. was founded in 2006 and is an advanced gold project exploration company based in Val-d’Or (Quebec, Canada). In 2024, Quebec ranked 5th among the best mining jurisdictions in the world (Fraser Institute). Cartier owns 100% of its flagship Cadillac asset and controls a significant land package of 25,000 ha. The Cadillac project is located approximately 40 km east of Val-d’Or and close to existing gold mills with available capacity.
The results of the recent Preliminary Economic Assessment1 (PEA) demonstrate the economic viability of the project with an average annual gold production of 116,900 oz over a 9.7-year mine life. The current Mineral Resource Estimate1 (MRE) totaling 7,128,000 tonnes at an average grade of 3.14 g/t Au for a total of 720,000 ounces of gold in the Indicated category and 18,475,000 tonnes at an average grade of 2.75 g/t Au for a total of 1,633,000 ounces of gold in the Inferred category.
1. NI 43-101 Technical Report and Preliminary Economic Assessment for Chimo Mine and West Nordeau Gold Deposits, Chimo Mine and East Cadillac Properties, Quebec, Canada, Marc R. Beauvais, P.Eng., of InnovExplo Inc., Mr. Florent Baril of Bumigeme and Mr. Eric Sellars, P.Eng. of Responsible Mining Solutions, May, 29, 2023.
For further information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.
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