Cartier Completes its Acquisition of Chimo, Nova and Benoist
01 Agosto 2013 - 3:00PM
Marketwired Canada
Cartier Resources Inc. ("Cartier") (TSX VENTURE:ECR) announces it has completed
its acquisition of the Benoist property from Murgor Resources Inc. ("Murgor")
and the Chimo and Nova properties from X-Ore Resources Inc. ("X-Ore"), a
wholly-owned subsidiary of Blue Note Mining Inc. The acquisitions are part of
Cartier's growth strategy to advance its projects to the advanced exploration,
development and mining stages. This strategic positioning allows Cartier to
benefit from new opportunities that will establish a robust foundation on which
to build the value of the business (chart).
Chimo and Nova properties
On July 23, 2013, Cartier acquired a 100% interest in the Chimo and Nova
properties (see press release of July 11, 2013) in exchange for a cash payment
of $261,000. The properties are contiguous and located 50 km east of the
prolific Val-d'Or gold mining camp, along the Larder Lake-Cadillac Break. The
Chimo property comprises two mining leases and the Nova property consists of 38
claims.
From 1964 to 1997, the Chimo mine produced 379,000 ounces of gold (MRNF: DV
86-04 to DV 97-01). Unmined high-grade gold zones have been documented near the
historical workings. The Chimo mine closed during a period of low gold prices.
"Cartier believes there is good potential for these reported gold zones to
constitute additional resources beyond the known resources left behind when the
mine closed down," notes Mr. Philippe Cloutier, President and CEO.
Benoist property
On July 29, 2013, Cartier acquired a 100% interest in the Benoist property (see
press release of May 23, 2013) consisting of 98 mining claims in exchange for a
cash payment of $250,000 and the issuance of 650,000 common shares which will be
subject to a hold period of four months and one day under the applicable
securities regulations. The Benoist property, which contains the Pusticamica
gold deposit, is located 65 km northeast of the town of Lebel-sur-Quevillon.
Recent results from Cartier's drilling program augment historical drill results
by confirming continuity and the potential for additional mineralization at
depth from 450 to 700 metres below the Pusticamica deposit. Over a distance of
225 metres, nine drill intersections yielded grades ranging from 4.6 g/t Au / 1
m to 24.5 g/t Au / 3 m (the latter from an interval of 65 m at 1.7 g/t Au).
"These drill results allow us to define a target volume for additional
mineralization below the Pusticamica deposit, thereby increasing the potential
of the project's historical resources," commented Philippe Cloutier, President
and CEO.
About Cartier
The company's objective is to set up a dynamic process that will allow it to
develop and maintain a balanced portfolio of mining projects ranging from
exploration to resource definition, development and production. Its VISION is to
become a mining producer by developing the company's current and future assets
with a schedule consistent with its human and financial resources and in
accordance with sustainable development practices.
Quality Assurance/Quality Control
Any scientific and/or technical information presented in this press release has
been reviewed and approved by Mr. Gaetan Lavalliere, P.Geo., Vice President for
Cartier Resources. Mr. Lavalliere is a qualified person as defined by National
Instrument 43-101
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Philippe Cloutier
President and CEO
Cartier Resources Inc.
819 874-1331 or Toll-free: 877 874-1331
819 874-3113 (FAX)
info@ressourcescartier.com
www.ressourcescartier.com
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