Cartier boosts Chimo gold to 2+ million oz.

Cartier again boosts gold ounces at Chimo. Credit: iStock

Cartier Resources (TSXV: ECR) released a new resource estimate – with more than 2 million oz. of gold – for its Chimo mine project, 45 km east of Val d’Or, Que. The new numbers are 720,000 oz. in 7.1 million indicated tonnes at 3.14 g/t gold and 1.6 million oz. in 18.5 million inferred tonnes at 2.75 g/t gold.

Cartier will use the estimate in its preliminary economic assessment combining the Chimo property and the newly acquired West Nordeau deposit. This deposit is within 450 metres of the Chimo property, making it possible to integrate the two.

There are three gold corridors (North, Central, and South) in the Chimo estimate. The indicated category has 6.6 million tonnes averaging 3.21 g/t gold for 684,000 contained oz.,  and the inferred category has 15.2 million tonnes grading 2.77 g/t gold for 1.4 million oz.

The West Nordeau deposit includes the North and Central gold corridors. Together they contain 512,000 indicated tonnes grading 2.19 g/t gold for 36,000 contained oz. The inferred resource is 3.3 million tonnes grading 2.64 g/t gold for 275,000 contained oz.

Cartier continues to drill the periphery of the Chimo gold system over a length of 10 km along the Larder Lake-Cadillac fault. The former Chimo gold mine was active in the mid-1960s and from 1989 to 1997.

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