TORONTO, May 09, 2023 (GLOBE NEWSWIRE) -- Cartier Silver Corporation (CSE:CFE) ("Cartier Silver" or the "Company") is pleased to announce that the Company has filed on SEDAR an independent technical report ("Technical Report") by Micon International Limited ("Micon"), prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). This Technical Report, authored by Mr. Charley Murahwi, P.Geo., Pr. Sci. Nat., FAusIMM, of Micon, supports Cartier Silver's planned exploration program at the Los Chorrillos (Gonalbert-Felizidad) Silver Project ("Los Chorrillos" or the "Project"), in the Potosí Department, southern Bolivia by Minera Cartier Bolivia S.R.L., Cartier Silver's Bolivian subsidiary. The Technical Report will also be posted on the Company's website, www.cartiersilvercorp.com.
In the Technical Report, Micon concludes: "In summary, the following factors qualify Los Chorrillos as a property of merit warranting detailed investigations to unravel its full potential:
- Favourable geological/metallogenic setting.
- Clear visual evidence of mineralization at surface and shallow underground workings offering opportunities for both open pit and underground exploitation.
- Presence of a current flourishing producing artisanal mine, which although small, could get better/bigger with detailed exploration and capital injection."
Micon further noted: "The above resource/reserve potential attributes are enhanced by the following infrastructural advantages:
- Proximity to established power grids, domestic paved roads, and rail transportation routes.
- Easy access to Northern Chilean seaports (Somarco and Portezuelo).
- Road and rail access to 3 Bolivian smelters - Vinto, OMSA and Karachipampa.
Overall, Micon is of the opinion that detailed exploration/investigation of the Los Chorrillos will likely yield positive results towards establishing a much larger viable mining venture."
A two-phase exploration program is recommended in the Technical Report. Phase I includes targeted exploration, geoscientific studies (Induced Polarization and Magnetometry) and limited sampling and is estimated at CDN$400,000. The Phase II exploration program, which is contingent on the successful completion of Phase 1, includes 5,000m of diamond drilling and is estimated to cost CDN$2,000,000. Micon concludes that the budget under consideration is reasonable and justified and recommends that Cartier Silver conduct the planned activities.
Tom Larsen, Cartier Silver's CEO, commented: "The Company is very pleased with Micon's efforts in completing the Los Chorrillos NI 43-101 Report. The Technical Report clearly defines Cartier Silver's next steps to advance this project, in order to unlock its potential unrealized value. We are already proceeding forward with Phase I exploration on this highly prospective property."
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. Mr. Charley Murahwi, P.Geo., Pr. Sci. Nat., FAusIMM, of Micon International Limited, a Qualified Person as defined under NI 43-101, is the author of the Technical Report on the Los Chorrillos Gonalbert-Felizidad) Silver Project.
About Cartier Silver Corporation
Cartier Silver is an exploration and development Company focused on discovering and developing its recently acquired silver property assets, including the Chorrillos Project and claims staked by the Company's subsidiary, all of which are located in the Potosi Department of southern Bolivia. The Company also holds significant iron ore resources at its Gagnon Holdings in the southern Labrador Trough region of east-central Quebec, and the Big Easy gold property in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland and Labrador.
For further information please visit Cartier Silver's website at www.cartiersilvercorp.com
For further information please contact:
| Thomas G. Larsen Chief Executive Officer (800) 360-8006 (416) 360-8006 | Jorge Estepa Vice-President (800) 360-8006 (416) 360-8006 |
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".
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