Cartier Resources Inc.
COMPANY DATA | INTRODUCTION
| PROJECT IN HAND | MANAGEMENT
NEWS UPDATE | CHINESE
| Address: | 851, 5th avenue, Suite 215 Val-d'Or, QC Canada J9P 1C1 |
| Tel No.: | (819) 874-1331 |
| Fax No.: | (819) 874-3113 |
| Web Site: | www.ressourcescartier.com |
| Corporate Email: | philippe.cloutier@ressourcescartier.com |
| Contact Person: | Philippe Cloutier |
| Position: | President & CEO |
| Traded Market: | TSX-V |
| Traded Symbol: | ECR |
| Outstanding Shares: | 16,550,000 |
| Public Float: | 14,150,000 |
| 52 Week High: | $ 1.22 |
| 52 Week Low: | $ 0.35 |
| Present Price: | Click Here |
INTRODUCTION
Cartier Resources Inc. is a pure-play exploration company focused on gold in the prolific Abitibi Gold Belt in Quebec. The Company 100% owned seven mining properties for a total of 396 claims located in northwestern Quebec, with the main one being the Kinojevis property. A major portion of the 2008 exploration budget will be invested on the Company's flagship Kinojevis property.
PROJECT IN HAND
(1) Kinojevis Property
The Company's flagship Kinojevis property consists of 337 contiguous claims (14,052 hectares) located between Val-d'Or, Rouyn-Noranda and Amos. The property lies about 20 km north of the Doyon and Laronde producing gold mines, and it is easily accessible year round.
The Kinojevis property, which is 48 km in length, covers a portion of the eastern extension of the Destor-Porcupine fault (>80Moz Au). Several former and present gold mines are associated with this fault, including the Beattie and the Holloway mine, both near the Quebec-Ontario border. Further west, several of the most prolific gold mines of Canada located in the Matheson and Timmins area are in some ways associated with this fault.
The Company intends to conduct a three-year exploration program (1 million dollar per year) to search for gold deposits on this extensive property. The Company has performed various geological surveys on the property including a
helicopter-borne magnetometer and spectrometer survey. Furthermore, several field surveys were undertaken, including stripping, trenching, lithogeochemical sampling, prospecting and drilling. A 2,600 km helicopter-borne gamma-ray spectrometric and magnetic data survey was completed. A stripping and trenching program was completed in the vicinity of the MacCormack gold showing. Assay results from last summer's trenching program vary up to 0.9 g/t gold over one metre widths.
To date, 15 of the 25 planned holes of Phase I diamond drill program were drilled for a total of 5,500 metres. The 1 million dollar drill program consists of 7,000 metres of drilling in eight north-to-south sections, in order to test the extension of the Destor-Porcupine fault. The exploration program confirms the gold potential of the Eastern part of the Destor-Porcupine fault extension on the Kinojevis project. Compilation and drilling of the project continue.
(2) Dieppe-Collet Property
The Dieppe-Collet property is located 71 km north of La Sarre and consists of 31 contiguous claims for a total of 1,735.3 hectares. It is located in Dieppe and Collet Townships and is bounded to the west by the Quebec-Ontario border, and is accessible by all weather gravel road.
Previous programs focused on base and precious metals. Seventeen (17) diamond drill holes were drilled on the property from 1990 to 1996. From these, a diamond drill hole intersection yielded 1.29 g/t gold over 1.4 metres.
Detailed compilation of historical exploration reports of the property is in progress. Field reconnaissance has been completed and diamond drill targets have been developed for testing. Drilling is planned on the Dieppe-Collet property. The Company will seek a partner to explore the land holding.
(3) Bapst Property
The Bapst property is located in Bapst Township, 115 km north of La Sarre and 75 km west of Matagami, immediately east of Harricanna River and is accessible by all weather
gravel road. The Bapst property consists of 22 contiguous claims for a total of 1,222.5 hectares.
Previous programs tested for base and precious metals. The property has been prospected by 14 diamond drill holes from 1987 to 1997. From these efforts, two drill holes intersected significant gold resources. The first consists of 4.5 g/t gold over 1.5 metres and the second of 4.17 g/t gold over 0.9 metres. The western portion of the property contains several rock outcrops.
Detailed compilation of historical exploration reports of the property is in progress. Field reconnaissance has been completed and three diamond drill targets have been developed for testing. Drilling is planned on the Bapst property. The Company will seek a partner to explore the land holding.
(4) Dalquier Property
The Dalquier property is located 17 km to the north east of Amos and consists of 9 contiguous claims for a total of 371 hectares. The property is located in Dalquier Township, on the western shore of Obalski Lake, 2.5 km from a paved road.
Several rock outcrops occur on the property and a favourable setting for gold mineralization is inferred from surrounding historical whole rock analysis.
From 1950 to 1987, 28 diamond drill holes were drilled on the property, mainly in search for base metals in the northern and central portions of the property. Highlights include two significant diamond drill hole intersections, namely: 17.8 g/t gold over 2 metres and 1.0 g/t gold over 0.3 metres.
Detailed compilation of historical exploration reports of the property is in progress. Field reconnaissance has been completed and diamond drill targets are being developed for testing. The Company will seek a partner to explore the land holding.
(5) Lac Castagnier Property
The Lac Castagnier property is located 22 km northeast of Amos. The property consists of 30 contiguous claims totalling 1,270 hectares straddling the boundaries of the Castagnier-Duverny Townships. The southern portion of the property hosts three mineralized drill hole intersections. These intersections are located within a cluster of eight diamond drill holes dating from 1984 to 1987 programs. The best reported intersections include 4.97 g/t gold over 1.52 metres, 2.4 g/t gold over 1.52 metres and 1.37 g/t gold over 1.52 metres.
Cartier has reviewed all available information and has identified a two-kilometre trend that hosts the mineralization. The initial one-hole 200-metre drill program aims at confirming the historic (4.97 g/t gold over 1.52 metres) gold prospect, testing the targeted structure and further characterizing the mineralized system.
(6) La Morandiere Property
On the La Morandiere property, stripping was completed and 44 channel samples were taken. Compilation is in progress.
(7) Dollier Property
A lithogeochemical sampling program was completed on the Dollier property. In total, 63 samples were collected. Compilation is in progress.
MANAGEMENT
Cartier Resources Inc. has a professional management team with experience in different areas.
Management and Directors
Philippe Cloutier, P.Geo., President and Chief Executive Officer
Mr. Cloutier, P.Geo., is a graduate of the University of Montreal (B.Sc. Geology 1988) and has over 19 years of experience in the mining exploration and development business. Mr. Cloutier was most recently Vice President Exploration for Alexis Minerals Corp., and has previously worked for industry leaders such as Noranda Inc., Aur Resources Inc., and Soquem. Mr. Cloutier has had a discovery-oriented career. He played a lead role in the discovery and delineation of the Bell-Allard South Cu-Zn Mine (3.4 Mt @ 1.26% Cu, 13.94% Zn, 0.67 g/t Au, 42.34 g/t Ag) in Matagami, Quebec. More recently, as Vice President Exploration for Alexis Minerals Corp., he was involved in the discoveries of the Montbray and West Ansil VMS Deposits located in Rouyn-Noranda, Quebec.
M. Jean Descarreaux, Ph.D., P.Geo., Director
Dr. Descarreaux is a graduate of the University of Montreal (B.Sc. 1964 and M.Sc. 1967) and University Laval (Ph.D. 1970). His thesis was entitled "Geochemistry of the volcanic rocks of the Abitibi". Dr. Descarreaux has 42 years of experience in the mining exploration and development business.
Mario Jacob, LL.B., Director
Mr. Jacob is President and Director of Maximus Capital Inc., a consulting company in business financing and corporate reorganization. He is a lawyer and a member of the Quebec Bar since 1995. He is also Director and Corporate Secretary of Power Tech Corporation Inc. and Demcap Investments Inc. Mr. Jacob is a Director of Virginia Mines Inc. Mr. Jacob was President and Director of Dufort Capital Inc., now called Groupe Odesia Inc.
Daniel Masse, Adm.A., Director
Mr. Masse is a graduate of Laval University with a B.Sc. Actuarial Science (1989) and a certificate in financial administration (1990). Mr. Masse provides the board with financial analysis expertise through his profession as President of DM Actuariat Inc. and Groupe Financier Masse Inc.
Jean Carriere, LL.B., Director
Mr. Carriere is a corporate strategy advisor to emerging Canadian-based companies operating in a vast array of business sectors. A member of the Quebec Bar since 1996, Mr. Carriere began his career as an associate specializing in commercial and corporate law, initially with the firm of Guy & Gilbert and then with the firm of Legault, Joly Thiffault.
Jean-Yves Laliberte, CA, Chief Financial Officer
Mr. Laliberte, Chartered Accountant, is also Director and Consultant for other exploration mining companies. Previously he was with Richmont Mines Inc. as Controller from 1989 to 1994 and as Vice President of Finance for Richmont Mines Inc. and Louvem Mines Inc. from 1994 to 2006. Prior to 1989, he was employed by KPMG llP, Chartered Accountants.
NEWS UPDATE
On February 11, 2008, Cartier Resources Inc. announced that it has signed an option agreement with Xstrata Canada Corp.'s Xstrata Zinc Canada division. Xstrata Zinc grants Cartier the exclusive option to acquire 100 per cent of Xstrata's interest in five blocks of map-designated claims totalling 50 units and covering approximately 2,088 hectares. The property is located in the Manneville and Villemontel townships in the Abitibi, northwestern region of Quebec. All blocks are contiguous to Cartier's Kinojevis project.
In order to acquire 100 per cent of Xstrata Zinc's interest in the property, Cartier must incur work expenditures on the property, totalling $1-million, on or before December 31, 2010.
On January 30, 2008, Cartier Resources Inc. announced the discovery of a new gold zone in the most easterly portion of its Kinojevis property.
Drill hole KI-07-05 hosts two gold intersections. An average of 2.26 g/t gold over 1.5 m (306.0 to 307.5 m) and 4.70 g/t gold over 0.7 m (309.0 to 309.7 m) have been obtained in hole KI-07-05. This gold zone is associated with a mafic volcanic rock intensely carbonatized (calcite and ankerite).
This section of drill holes (KI-07-04, 05, 06) confirms the gold potential of the Eastern part of the Destor-Porcupine fault extension on the Kinojevis project. Assays for holes KI-07-07 to 15 are pending.