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Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR; FSE:6CA) informs that Mr. Gaétan Lavallière no longer assumes the duties of Vice-President of Cartier, effective today.
Mr. Philippe Cloutier, President and CEO, stated: ″On behalf of the Company, I would like to sincerely thank Mr. Lavallière for his professionalism and his many contributions he has made to Cartier over the years. Mr. Lavallière led the company transition from grassroots exploration to advanced brownfields exploration and development of the Chimo Mine project. He leaves us with a solid base to continue exploring and expanding the gold potential recently acquired along the Larder Lake - Cadillac Fault Zone. We wish Mr. Lavallière continue success in his future endeavors″.
Cartier will proceed with a reorganization of the current workload and seek candidates to fill the vacant position and contribute to execute Cartier's new development strategy.
2025 Outlook:
The Company's recent strategic planning session outlined an ambitious plan for continued exploration and development of its flagship Cadillac Project, focussed on growing the gold resources and testing the significant discovery potential along the prolific Larder Lake - Cadillac Fault Zone.
Five key elements comprise this new approach :
- Apply innovative AI (Artificial Intelligence) exploration tools for target generation to complement recent high-grade gold discoveries.
- Review of the current mineral resource estimate and geological interpretation to develop a value-based targeting and development approach at the property scale.
- Reinterpret and promote the project merits within realm of recent gold price evolution.
- Design of multi-stage and aggressive exploration drill programs (100,000 m).
- Launch of key environmental baseline studies.
Additionally, and in line with the new strategy, the Company is undertaking a process to evaluate its non-core gold assets (Wilson, Fenton and Benoist), all proximal to the Windfall deposit recently acquired by Goldfields. Exploration work is on hold at these properties and Cartier is currently searching joint venture partners or buyers to maximize value creation.
The Company would like to remind the investment community and shareholders of its 2024 achievements , namely:
- Completed the first 28,084 m exploration drilling program on the Cadillac property and significantly increased the upside of this land package (24,679 ha), with now a minimum of 10-km high-grade gold potential along the major Larder Lake – Cadillac Fault Zone.
- Discovered and/or enhanced new shallow-priority gold areas as Blue Grass (44.7 g/t Au over 0.5 m) and West Simon (7.5 g/t Au over 4.6 m) : December 17, 2024 , VG9 (11.7 g/t Au over 4.0 m) and VG10 (173.6 g/t Au over 0.5 m) : December 3, , 2024 , Portal (7.2 g/t Au over 8.0 m) : October 30, 2024 , North Contact (14.7 g/t Au over 4.3 m) : October 16, 2024 and East Bateman (60.1 g/t Au over 0.5 m) : September 19, 2024 .
- Strengthened the Board of Directors with two strategic and leadership appointments in the mining industry, including Manuel Peiffer as Independent Director and Alain Laplante as Independent Director as well as Chair of the audit committee.
- Closed a hard-cash private placement of $487,432 and a flow-through private placement of $1,000,000 .
Qualified Person
The scientific and technical content of this press release has been reviewed and approved by Mr. Ronan Déroff, P.Geo., M.Sc., Senior Geologist, Project Manager and Geomatician, who is a ″Qualified Person″ as defined by National Instrument 43 -101 – Standards of Disclosure for Mineral Projects.
About Cartier Resources Inc.
Cartier Resources Inc. was founded in 2006 and is an advanced gold project exploration company based in Val-d'Or. The company's projects are all located in Quebec, which has consistently ranked as one of the world's best mining jurisdictions. Cartier is advancing the development of its flagship Cadillac Project.
For further information, contact:
Philippe Cloutier, P. Geo.
President and CEO
Telephone: 819-856-0512
philippe.cloutier@ressourcescartier.com
www.ressourcescartier.com
Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.
