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Toronto (pts020/20.12.2018/16:00) - New zone is on the west edge of the Central
Anomaly located 1.8 km south of the Big Easy Showing
Includes 40m grading 0.28 g Au/t and 6.34 g Ag/t and 4.8 m grading 1.26 g Au/t
and 33.19 g Ag/t
Hole testing downdip extension of Big Easy showing intersected 10.6m of 0.45 g
Au/t and 84.96 g Ag/t including 3.9m grading 0.54 g Au/t and 224.9 g Ag/t.
Cartier Iron Corporation (CSE: CFE) ("Cartier Iron" or the "Company") is pleased
to report results from the first two diamond drill holes from a four hole,
1,249m program, at its Big Easy Gold project located on the Burin Peninsula in
eastern Newfoundland. The first hole, BE18-29, tested the downdip potential of
the Big Easy showing while three holes tested the Central Induced Polarization
(IP) chargeability anomaly located 1.8km south of the Big Easy showing (see
press release May 1, 2018). Hole BE18-30 was drilled on the western edge of the
Central Anomaly. Hole BE18-31 was collared 40m west of Hole BE18-30 while hole
BE18-32 was collared on the eastern edge of the Central Anomaly 200m east of
Hole BE18-30. The Central Anomaly as well as other major chargeability anomalies
on the property occur under prominent bogs hence drilling in the core of these
anomalies must be carried out in the winter. Table 1 gives significant results
and Table 2 gives details on collar coordinates and drill hole orientation.
Hole BE18-30 intersected a new very wide anomalous alteration zone which
returned 180.4 m grading 0.11 g Au/t and 2.65 g Ag/t. Within this extensive zone
there is a 40m section which returned 0.28 g Au/t and 6.34 g Ag/t including 4.8m
grading 1.26 g Au/t and 33.19 g Ag/t.
Hole BE18-29 which tested the potential downdip extension of the Big Easy
Showing returned 10.6m of 0.45 g Au/t and 84.96 g Ag/t including 3.9m grading
0.54 g Au/t and 224.9 g Ag/t. The downdip extension is marked by a chargeability
anomaly which appears to be stronger with depth.
Tom Larsen, President & CEO of Cartier Iron said: "Considering the
reconnaissance nature of this drill program and the limited meterage of 617m
reported, these results are very encouraging and we look forward to receiving
the results from the remaining two holes which should be available in the near
future. We plan to do a winter drill program in conjunction with efficient
accessibility after bog freeze-up of at least 1,000m to further test the Central
Anomaly as well as other similar geophysical targets to the west and south."
Dr. Bill Pearson, P.Geo., Chief Technical Advisor, commented: "The results from
Hole BE18-30 indicate that the chargeability anomaly reflects an extensive zone
of epithermal alteration and mineralization that is up to 200m wide with a depth
extent of at least 250m.The grades are consistently anomalous throughout the
entire section suggesting the potential for a well mineralized core zone in the
strongest part of the chargeability anomaly (Figures 1 and 2). The mineralized
alteration zone was also intersected in the upper part of Hole BE18-31 and the
lower part of BE18-32 but results on these holes are pending. This zone is
completely open along strike and at depth."
Qualified Person
Dr. Bill Pearson, P.Geo., a Qualified Person as defined under National
Instrument 43-101 (NI 43-101), has reviewed and approved the scientific and
technical content of this press release. The IP/Res survey was designed and
supervised by Dr. Chris Hale, P.Geo., Chief Geophysicist for Cartier Iron and a
Qualified Person as defined under NI 43-101. The diamond drill program was
carried out and supervised by Mr. Jeff Burke, P.Geo., Exploration Manager for
Cartier Iron on Big Easy and a qualified person as defined by NI 43-101. All
samples were analysed using multi-digestion with ICP finish and fire assay with
AA finish for gold by AGAT Laboratories in Mississauga, Ontario). Cartier Iron
employs an industry standard QA/QC protocol including external standards, blanks
and duplicates, with a 5% random split check assay on pulps and rejects by ALS
Chemex in North Vancouver, BC.
For more information, contact:
Thomas Larsen, C.E.O. or Jorge Estepa, Vice President at (416) 360-8006 or email
at info@cartieriron.com
About Cartier Iron Corporation
Cartier Iron is an exploration and development Company focused on discovering
and developing significant iron ore resources in Quebec, and a potentially
significant gold property in the province of Newfoundland and Labrador. The
Company's iron ore projects include the Gagnon Holdings in the southern Labrador
Trough region of east-central Quebec. The Big Easy gold property is located in
the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern
Newfoundland.
For additional information on Cartier Iron, please visit our website at:
http://www.cartieriron.com
The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy
of this release. Statements in this release that are not historical facts are
"forward-looking statements" and readers are cautioned that any such statements
are not guarantees of future performance, and that actual developments or
results, may vary materially from those in these "forward-looking statements".
(Ende)
Aussender: Cartier Iron Corporation
Ansprechpartner: Jorge Estepa
Tel.: 416 360-8006
E-Mail: info@cartieriron.com
Website: www.cartieriron.com
Quelle: http://www.pressetext.com/news/20181220020
(END) Dow Jones Newswires
December 20, 2018 10:00 ET (15:00 GMT)
