Cartier Resources Inc. announced drill hole results from the West Nordeau and West Chimo Mine sectors. Drilling in the West Nordeau sector aims to increase resources in a future estimate (MRE5*), while drilling in the West Chimo Mine sector aims to discover new gold zones in a little-explored sector, located proximal to the underground infrastructures (FIGURE 1). The Chimo Mine property, which is 100% owned by Cartier, is located 45 km east of the Val-d'Or mining camp.

Drilling intersected new values of 3.2 g/t Au over 15.0 m including 6.0 g/t Au over 3.0 m, as well as 2.3 g/t Au over 7.0 m including 6.9 g/t Au over 1.0 m. These new results, located between 450 m and 575 m depth, increase the depth extension of the 5NE2 Gold Zone by 175 m. The new values of 2.8 g/t Au over 4.0 m including 9.6 g/t Au over 1.0 m are located at 800 m depth. These values increase the depth extension of the 6N1W Gold Zone by 350 m, the summit portion of which is located only 20 m from the existing underground infrastructures. The West Chimo Mine Sector is just beginning to be explored and two new gold zones have already been discovered there in the winter of 2023 (5BW and 6N1W).

Drilling of one of these gold zones (6N1W) already shows gold values to a depth of 800 m. With additional drilling, this new zone near existing infrastructures would be part of the next resource estimate (MRE5*). Average annual production of 116,900 ounces of gold at a milled average of4.6 g/t Au for a 9.7 years mine life. Payback period of 2.9 years, Long term gold price of US$1,750/oz, exchange rate of CAD 1.00 = US $0.77, Capex of CAD 341M, average all-in sustaining cost of USD 755/oz.