Canada markets closed

Cartier Resources Inc. (ECR.V)

TSXV - TSXV Real Time Price. Currency in CAD
Add to watchlist
0.2650+0.0100 (+3.92%)
At close: 3:53PM EDT
Full screen
Previous Close0.2550
Open0.2550
Bid0.2550 x 0
Ask0.2650 x 0
Day's Range0.2550 - 0.2700
52 Week Range0.0700 - 0.3300
Volume105,150
Avg. Volume264,668
Market Cap56.805M
Beta (5Y Monthly)1.69
PE Ratio (TTM)N/A
EPS (TTM)-0.0030
Earnings DateApr. 21, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Cartier presents the strong hoisting capabilities of the shaft on the Chimo Mine Property

    Highlights: * With simple adjustments, the shaft on the Chimo Mine Property could extract 1.7 million metric tons per year (4,921 mt/day). * This study is one of four engineering studies carried out in tandem with a preparatory study for a new mineral resource estimate on the Chimo Mine Property to reveal its full value. VAL-D’OR, Quebec, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (“Cartier”) reports the results of an engineering study on the hoisting capacity of the underground mining infrastructure on the Chimo Mine Property. This property, owned 100% by Cartier, is located 45 km east of the Val-d’Or mining camp.The study reveals that the components of the internal shaft structure could be used to hoist skips with a loading capacity of 20 metrics tonnes each, travelling at a cruising speed of 2,200 feet/minute (40 km/h). This hoisting rate would raise 492 mt/hour of rock to the surface for a total of 4,921 mt/day in 10 hours of hoisting operations per 24-hour day or 1.7 M mt/year.To date, two internal engineering studies have been completed with positive findings, including the study that is the subject of this press release. Two other internal engineering studies are still underway, as well as an internal preparatory study for a new mineral resource estimate on the Chimo Mine Property.No PEA, PFS or FS has been completed and disclosure of results from this internal study does not support or imply the technical feasibility and/or economic viability of the project.  In addition, while current mineral resource estimates have been completed on separate zones on the property, mineral resources that are not mineral reserves do not have demonstrated economic viability.Table of current and future features of the shaft infrastructure on the Chimo Mine Property:Current shaft features Dimensions of excavated shaft914 m x 6 m x 2.7 m (represents 15,000 m³ of excavated rock) 3 compartmentsEach measuring 5'0" x 5'6" State of internal rock wallsIn good condition at the time of mine closure Internal shaft structure8" x 8" beams of Douglas (BC) fir State of internal shaft components In good condition at the time of mine closure Wood submerged under oxygen-free water remains intact* from deterioration for decades Key additional features required Weight of hoisted rock material 4,921 mt/day in 10 hours of operation per 24-hour period 492 mt/hour Type of skips 2 skips with a loading capacity of 20 t each, in compartments Nos. 2 and 3 Each skip is 14 m height instead including the cage Number of hoisted skips per hour30 Skip cruising speed2,200 ft/min (40 km/h) Type of cage4-deck Mary Ann-type cage with 36-person capacity in compartment No. 1 Height of headframe57 m Weight suspended below wheel56 mt Type of hoistDrum hoist 5.1 m in diameter with AC drive force of 4880 RMS HP Type of hoisting cableSingle cable 56 mm in diameter or multi-cable system *: Careful inspection of shaft components will be required, as will the replacement or reinforcement of components that do not meet the standards. About the Chimo Mine Project * Cartier holds a 100% interest in the property for which a 1% NSR royalty (Net Smelter Return) was granted to IAMGOLD Corporation. No right of first refusal (“buy-back”) was granted. * The most recent mineral resource estimate for the Chimo Mine Property (FIGURE), detailed below, uses a gold price of US $1,300 per ounce and a cut-off grade of 2.5 g/t Au: Gold Corridor Cut-off Grade 2.5 g/t Au Indicated ResourcesInferred Resources Metric Tons (t)Gold Grade (g/t)Troy Ounces (oz)Metric Tons (t)Gold Grade (g/t)Troy Ounces (oz) Central(1)3,263,3004.40461,2803,681,6003.53417,250 North(2)505,3005.3586,850715,7004.59105,710 South(2)249,0004.6337,060480,6004.8474,840 Total4,017,6004.53585,1904,877,9003.82597,800 Note 1: Cartier Files NI 43-101 Technical Report on SEDAR for First Mineral Resource Estimate of the Central Gold Corridor on the Chimo Mine Property, GéoPointCom Inc., December 18, 2019. Note 2: Cartier Files NI 43-101 Technical Report on SEDAR for the Mineral Resource Estimate of the Central, North and South Gold Corridors on the Chimo Mine Property, GéoPointCom Inc., June 17, 2020. * The property, accessible year-round, is located near several concentrators in the Val d’Or region. * Fourteen gold zones were mined by three producers between 1964 and 1997 for a production of 376 217 ounces of gold (MERN DV 85-05 to DV-97-01).  * The mining infrastructure consists of a network of 7 km of drifts on 19 levels, connected by a shaft with a depth of 914 m. The bridge and surface facilities were dismantled in 2008 but the 25 kV power line and sandpit are still in place. * Cartier’s drilling programs to date on the Chimo Mine Property amount to 124 drill holes for 58,054 m and 21,867 gold samples collected. About CartierCartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec. The province of Quebec has consistently ranked as one of the best mining jurisdictions in the world, primarily because of its favourable geology, attractive fiscal environment and pro-mining government. * The Company has a strong cash position with more than $13.9 million and significant corporate and institutional endorsements, including Agnico Eagle Mines, Meridian Global, and Quebec investment funds. * Cartier’s strategy is to focus on gold projects with features that offer potential for rapid growth. * The Company holds a portfolio of exploration projects in the Abitibi Greenstone Belt of Quebec, one of the most prolific mining regions in the world. * The Company is focused on advancing four key projects through drilling programs. These projects were acquired at reasonable costs in recent years and are drill-ready, with targets along the geometric extensions of known gold deposits. * Exploration work is currently focused on the Chimo Mine Property to maximize value for investors. The Company is also planning a major drilling program for the Benoist Property. Drilling on the Fenton and Wilson properties will follow the Benoist program. Qualified PersonsThe scientific and technical information of the Company and the Chimo Mine Project, included in this press release, have been prepared and reviewed by Mr. Gaétan Lavallière, P.Geo., Ph.D., Vice President, and Mr. Ronan Déroff, P.Geo, M.Sc., Senior Geologist, Project Manager and Geomatician, both qualified persons as defined by NI 43-101. Mr. Lavallière approved the information contained in the press release.Author of the Engineering StudyThe study on the hoisting capacity of the mining infrastructure on the Chimo Mine Property was prepared by Mr. Paul Bonneville, P. ing., Mining Manager, President and Director of PRB Mining Services Inc.For more 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.

  • Baystreet

    Cartier, GreenPower, Guyana at 52-Week Highs on News

    Cartier Resources Inc. (V.ECR) hit a new 52-week high of 31 cents on Tuesday. Cartier announces an interval ...

  • Cartier cut 20.4 g/t Au over 2.0 m in the new Zone 5CE and 11.9 g/t Au over 1.6 m in Zone 5B4 at Chimo Mine
    GlobeNewswire

    Cartier cut 20.4 g/t Au over 2.0 m in the new Zone 5CE and 11.9 g/t Au over 1.6 m in Zone 5B4 at Chimo Mine

    Figure for 28 August 2020 Press Release: Chimo Mine Project - Cartier Resources Longitudinal sections, Chimo Mine Project, 28 August 2020 Press ReleaseHighlights: * An Intersection grading 20.4 g/t Au over 2.0 m, included within a mineralized interval of 18.0 m at 2.7 g/t Au, was intersected in the new Zone 5CE, in the East Sector of the property, 125 m above drill hole CH19-54E which graded 11.9 g/t Au over 2.0 m within a mineralized interval of 16.0 m at 2.1 g/t Au;   * An intersection grading 11.9 g/t Au over 1.6 m, included within a mineralized intersection of 14.6 m at 3.1 g/t Au, and an intersection grading 7.5 g/t Au over 2.5 m, included within a mineralized intersection of 13.7 m at 3.2 g/t Au, were also intersected in Zone 5B4.   * The 15 holes, totalling 8,811 m, were drilled in the East Sector of the property since December 2019 and demonstrate the continuity of the mineralization in Zones 5B4 5M4 5NE over 1.3 km. Drilling also led to the discovery of the Zone 5CE and revealed the potential for increasing the resources in this part of the property (FIGURE);   * The property hosts three gold-bearing corridors (North, Central and South) that to date host the following mineral resources, calculated using a gold price of US $1,300 per ounce and a cut-off grade of 2.5 g/t Au:   * 4,017,600 tonnes at an average grade of 4.53 g/t Au for a total of 585,190 ounces gold in the indicated category;   * 4,877,900 tonnes at an average grade of 3.82 g/t Au for a total of 597,800 ounces gold in the inferred category.   * To date, two internal engineering studies have been completed with positive conclusions. Two other internal engineering studies are underway, along with an internal study to prepare for a new mineral resource estimate on the Chimo Mine Property.VAL D'OR, Quebec, Aug. 25, 2020 (GLOBE NEWSWIRE) -- Cartier Resources Inc. (TSX-V: ECR) (“Cartier” or the “Company”) announces an interval of 20.4 g/t Au over 2.0 m included within 18.0 m at 2.7 g/t Au, intersected 200 m below the resources of Zones 5B4-5M4-5NE, which were estimated by GéoPointCom in 2019 (Table 1). The Chimo Mine Property is held 100% by Cartier and is situated 45 km east of the Val-d’Or mining camp.An intersection grading 11.9 g/t Au over 1.6 m, included within a mineralized intersection of 14.6 m at 3.1 g/t Au, and an intersection grading 7.5 g/t Au over 2.5 m, included within a mineralized intersection of 13.7 m at 3.2 g/t Au, were also intersected in Zone 5B4. The results from the drilling campaign (Table 2), which started in December 2019, reveal numerous mineralized intersections over an area measuring 550 m by 200 m (FIGURE) below Zones 5B4-5M4-5NE. The resources in this area will soon be estimated and added to the resources already published for the project (Table 3).“The results from Cartier’s 124 drill holes totalling 58,054 m, along with the results of two completed internal engineering studies and two others still underway, have provided robust information which support our vision of potential scenarios for economic development,” commented Philippe Cloutier, President and CEO.Table 1: Details of new results:Drill HoleUTM Coordinates (E, N, Elev.)Azimuth (°) / Dip (°)From (m)To (m)Length (m)Au (g/t)Gold ZoneGold Structure CH19-54D332637/5320279/-163185/-581153.01155.02.020.45CE5C Included in1137.01155.018.02.7 CH19-55CE332527/5320277/-585189/-511334.01335.61.611.95B45B Included in1321.01335.614.63.1 CH19-55C332555/5320429/-327198/-721328.71331.22.57.5 Included in1322.01335.713.73.2 CH19-54CW332627/5320190/-276185/-481043.01048.05.02.8 CH19-55BW332501/5320261/-671193/-511362.01367.05.02.0 CH19-55C332555/5320429/-327198/-721287.01294.67.61.45NE5N The lengths of the mineralized intersections are expressed in lengths measured along the drill core. The estimated true thickness of the mineralized intersections represents approximately 80 to 90% of the measured length. Table 2: Best results from the drilling campaign in the East Sector between December 2019 and June 2020 (FIGURE):Drill HoleHigh Grade intervalFull intervalGold ZoneGold Structure Au (g/t)Length (m)Au (g/t)Length (m) CH19-55B*32.02.07.112.15NE5N CH19-55B*20.84.06.716.05B45B CH19-55*22.02.07.111.5 CH19-54B*5.010.92.526.1 CH19-55CE11.91.63.114.6 CH19-55C7.52.53.213.7 CH19-54*7.02.02.616.1 CH19-54E*9.52.02.015.8 CH19-54D20.42.02.718.05CE5C CH19-54E*11.92.02.116.0 The lengths of the mineralized intersections are expressed in lengths measured along the drill core. The estimated true thickness of the mineralized intersections represents approximately 65 to 90% of the measured length. * Results disclosed in previous press releases. Table 3: Most recent mineral resource estimate for the Chimo Mine Property (FIGURE) using a gold price of US $1,300 per ounce and a cut-off grade of 2.5 g/t Au:Gold Corridor Cut-off Grade 2.5 g/t AuIndicated ResourcesInferred Resources Metric Tons (t)Grade (g/t Au)Troy Ounces (oz)Metric Tons (t)Grade (g/t Au)Troy Ounces (oz) Central (1)3,263,3004.40461,2803,681,6003.53417,250 North (2)505,3005.3586,850715,7004.59105,710 South (2)249,0004.6337,060480,6004.8474,840 Total4,017,6004.53585,1904,877,9003.82597,800 Note 1: Cartier Files NI 43-101 Technical Report on SEDAR for First Mineral Resource Estimate of the Central Gold Corridor on the Chimo Mine Property, GéoPointCom Inc., December 18, 2019.Note 2: Cartier Files NI 43-101 Technical Report on SEDAR for the Mineral Resource Estimate of the Central, North and South Gold Corridors on the Chimo Mine Property, InnovExplo Inc., June 17, 2020. About Chimo Mine Project * Cartier holds a 100% interest in the property for which a 1% NSR (“Net Smelter Return”) royalty has been granted to IAMGOLD Corporation. No rights of first refusal (“buy-back”) have been granted. * The property, accessible year-round, is located near several mills in the Val-d’Or area. * Fourteen gold zones were exploited by three producers between 1964 and 1997 for a production of 376 217 ounces of gold (MERN DV 85-05 to DV-97-01). * The mining infrastructure consists of a network of drifts over 7 km, distributed over 19 levels and connected by a 5.5 m x 1.8 m three-compartment shaft for a depth of 914 m. The headframe and surface installations were dismantled in 2008, but the 25 kV power line and sandpit are still in place. * Cartier’s drilling to date on the Chimo Mine Property consists of 124 holes totalling 58,054 m and 21,867 samples collected for gold analysis.About Cartier Cartier Resources Inc., founded in 2006, is based in Val-d’Or, Quebec. The province of Quebec has consistently ranked as one of the best mining jurisdictions in the world, primarily because of its favourable geology, attractive fiscal environment and pro-mining government. * The Company has a strong cash position with more than $13.9 million, as well as a significant corporate and institutional endorsement, including Agnico Eagle Mines and Quebec investment funds. * Cartier’s strategy is to focus on gold projects with features that offer potential for rapid growth. * The Company holds a portfolio of exploration projects located in the Abitibi Greenstone Belt of Quebec, one of the most prolific mining regions in the world. * The Company is focused on advancing its four key projects through drilling programs. All of these projects were acquired at reasonable costs in recent years, and are drill-ready with targets along the geometric extensions of known gold deposits. * Exploration work is currently focused on the Chimo Mine Property to maximize value for investors. The preparation of the next exploration work is underway to carry out drilling programs respectively on the Benoist, Fenton and Wilson properties.Qualified Persons The scientific and technical information of the Company and the Chimo Mine Project, included in this press release, have been prepared and reviewed by Mr. Gaétan Lavallière, P. Geo., Ph. D., Vice President and Mr. Ronan Déroff, P. Geo, M. Sc., Senior Geologist, Project Manager and Geomatician, Qualified Persons as defined by NI 43-101. Mr. Lavallière approved the information contained in the press release.Quality Assurance / Quality Control Cartier’s analytical drilling results were obtained from samples measured along the drill core. NQ core samples are crushed up to 80% passing an 8 mesh and then pulverized to 90% passing a mesh of 200 mesh. Cartier inserts 5% of the number of samples in the form of certified standards and another 5% in the form of blank samples to ensure quality control. The samples are analyzed at the Techni-Lab laboratory (Actlabs), located in Ste-Germaine-Boulé, Quebec. The 50 g pulps are analyzed by fire assay and read by atomic absorption, followed by gravimetry for results above 5.0 g/t Au. For samples containing visible gold, 500 g of rock are analyzed by the “Metallic Sieve” method.For more information, please contact: Philippe Cloutier, P. Geo. President and CEO Telephone: 819 856-0512 philippe.cloutier@ressourcescartier.com www.ressourcescartier.comNeither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/24f2dddf-05ae-40a3-ab99-56b090224345