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Cartier Silver makes additional US$700,000 Chorrillos Project option payment (US$1,500,000 to date)
Second-Phase diamond drilling program is underway at the Chorrillos Project, following the initial drilling campaign completed in mid-2023. The program is being carried out by Fujita Drilling Group.
Key Program Objectives:
- Explore several high-grade silver, lead and zinc target areas that were defined in both the initial drill program and through subsequent exploration carried out on the property in the previous two years.
Complete a 5,000m diamond drilling program comprising approximately 12 holes, to be executed by Fujita Drilling Group. The program is expected to be completed during the fourth quarter of this year.
Conduct a targeted diamond drilling aimed at upgrading several "potential" (exploration) targets to "Inferred" mineral resources.
Evaluate the potential down-dip and strike length of previously intersected high-grade silver, lead and zinc mineralization from initial drilling at Mina Central and systematic channel sampling of the underground artisanal workings at Quimbalete and Hoyada, which remain open laterally and vertically.
Commence dewatering operations on the lower eastern workings of Mina Central in the coming weeks to provide full access to the currently flooded underground areas.
Toronto, Ontario--(Newsfile Corp. - July 14, 2026) - Cartier Silver Corporation (CSE: CFE) ("Cartier Silver" or the "Company") is pleased to announce the commencement of a second-phase diamond drilling campaign at its Chorrillos high-grade silver-lead-zinc project (the "Chorrillos Project"). The 5,000 metre program will comprise approximately 12 drill holes and will be followed by a structured underground dewatering and rehabilitation program at the previously active Mina Central underground mine.
Tom Larsen, CEO of Cartier Silver commented: "We are pleased to commence the second-phase drilling program comprising 5,000 metres across 12 drill holes at the Chorrillos Project. The drilling campaign will be followed by an underground dewatering and rehabilitation program at Mina Central. The program is designed to expand known mineralization within the existing high-grade silver vein system, some of which has been mined since the colonial era, and identify new mineralized structures at the Mina Central, Quimbalete, Hoyada and Felicidad zones."
Mr. Larsen continued: "The dewatering and rehabilitation program at the former Mina Central underground mine, that represents another significant milestone in advancing the Chorrillos Project, is expected to commence in late August or early September. Following the successful resolution of the recent road blockades through agreements reached between the Bolivian government and labour unions, transportation routes have reopened, allowing the uninterrupted delivery of essential supplies, including diesel fuel, enabling us to proceed with our planned exploration activities."
Figure 1: Fujita's drill rig commencing second-phase drilling on site
at the High-Grade Silver (Lead and Zinc) Chorrillos Project.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/11987/305096_1df0f6b1d4872af8_002full.jpg
Details of the drilling campaign are presented in Table 1, including location coordinates, depths, and specific targets for each drillhole.
Table 1: Scheduled Second-Phase Drilling Program
| Drillhole ID | Easting | Northing | Elevation (m) | Target Depth (m) | Target Area | Objective |
| DGL-04 | 219004 | 7637366 | 3667 | 500 | Ordovician Sedimentary Central South | Southern projection of Central vein system. Exploration for new mineralized structures |
| DGL-05 | 219004 | 7637366 | 3667 | 450 | Ordovician Sedimentary Central South | Southern projection of Central vein system. Exploration for new mineralized structures |
| DGL-06 | 218841 | 7638058 | 3597 | 200 | Tertiary Volcanic - Hoyada | Projection to depth of Quimbalete vein |
| DGL-07 | 218923 | 7637992 | 3594 | 150 | Tertiary Volcanic - Hoyada | Projection to depth of Quimbalete vein |
| DGL-08 | 218712 | 7638087 | 3561 | 150 | Tertiary Volcanic - Hoyada | Projection to depth of Quimbalete vein |
| DGL-09 | 218738 | 7638238 | 3584 | 150 | Tertiary Volcanic -Hoyada | Exploration of a geophysical and geochemical anomalies |
| DGL-10 | 218877 | 7637496 | 3654 | 700 | Ordovician Sedimentary Central North | Intersect three vein-type structures of similar trend of Central Vein |
| DGL-11 | 219006 | 7637265 | 3660 | 500 | Ordovician Sedimentary Central South | Southern projection of Central vein system. Exploration for new mineralized structures |
| DGL-12 | 218877 | 7637496 | 3654 | 600 | Ordovician Sedimentary Central North | Intersect three vein-type structures of similar trend of Central Vein |
| DGL-13 | 218837 | 7637711 | 3615 | 600 | Ordovician Sedimentary - Volcanic Central North | Intersect three vein-type structures of similar trend of Central Vein |
| DFL-01 | 216648 | 7644231 | 3557 | 500 | Tertiary Epiclastics-Volcanic Felicidad | Intercept the mineralized trend system with the projection of the Felicidad vein |
| DFL-02 | 216648 | 7644231 | 3557 | 500 | Tertiary Epiclastics-Volcanic Felicidad | Intercept the mineralized trend system with the projection of the Felicidad vein |
| TOTAL | 5000 |
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Cartier Silver Makes Additional US$0.7 Million Option Payment for the Chorrillos High-Grade Silver (Zinc and Lead) Project, Potosi Department, Bolivia
The Company is pleased to report that through its Bolivian subsidiary, Minera Cartier Bolivia S.R.L. ("Cartier Bolivia"), it made an additional US$700,000 option payment and has acquired 70% of the capital quotas (the "Acquisition") of Empresa Minera Segovia S.R.L. and Empresa Minera Gonalbert S.R.L. (the "Vendors"), who are the title holders of the Chorrillos Project.
The Acquisition was completed pursuant to the amended definitive acquisition agreement entered into between Cartier Bolivia and the Vendors (the "Agreement"), whereby Cartier Bolivia completed staged payments aggregating US$1,500,000 as consideration for 70% of the Vendors' capital quotas. As per the Agreement, Cartier Bolivia can acquire 100% of the Vendors' capital quotas for aggregate consideration of US$4,500,000, to be paid in staged payments on or before June 12, 2028.
Bolivia Pursuing Economic Reactivation Following Recent Political Disruptions
Bolivia is entering a new phase of economic reactivation, driven by measures aimed at promoting investment, restoring economic growth, and bolstering private sector participation. In recent months, the government has implemented initiatives designed to create a more favorable environment for investment, with a particular focus on sectors such as mining and energy. International financial institutions, including the International Monetary Fund (IMF), Inter-American Development Bank (IDB) and the Development Bank of Latin America and the Caribbean (CAF) have also expressed support for Bolivia's economic stabilization and recovery efforts through programs designed to promote sustainable growth and private investment. Against this backdrop, Bolivia is seeking to foster a more attractive investment climate, creating opportunities for the advancement of new projects and the development of long-term partnerships with domestic and international investors.i
Qualified Person
Dr. Osvaldo Arce, P.Geo. General Manager of Cartier Silver's Bolivian subsidiary, Minera Cartier Bolivia S.R.L, and a Qualified Person ("QP") as defined by National Instrument ("NI") 43-101 has reviewed and approved the technical content of this news release. Dr. Arce who has more than 35 years of mineral exploration and extensive mining expertise across several countries in North and South America manages the overall technical program and supervises all field work conducted at Chorrillos project.
Cartier Silver utilized both ALS and AHK for drill core analyses, both of whom are major international accredited laboratories. Drill samples sent to ALS were prepared in both ALS Bolivia Ltda's preparation facility in Oruro, Bolivia and the preparation facility operated by AHK in Tupiza with pulps sent to the main ALS Global laboratory in Lima for analysis. Drill core samples sent to AHK Laboratories are also prepared by AHK in Tupiza with pulps sent to the AHK laboratory in Lima, Peru.
Silver (Ag), zinc (Zn) and lead (Pb) are analyzed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) using a four-acid digestion; Sn is analyzed by X-Ray Fluorescence (XRF) and Au is analyzed by fire assay on 50g pulps with an Atomic Absorption Spectroscopy (AAS) finish. AAS measures absorbed light to quantify elements, while ICP, such as ICP-OES or ICP-MS, measure emitted light or ions to determine elements. XRF uses fluorescent X-rays to excite atoms and to emit X-rays that reveal the presence and concentration of tin. Sample size in ICP typically ranges from 100 mg (0.1 g) to 1 g, for AAS, is usually less than 100 mg (0.1 g) and for XRF is ideally below 75 µm.
Check samples between ALS and AHK are regularly done as a QA/QC check. AHK is following the same analytical protocols used as with ALS and with the same QA/QC protocols except for Sn for which a sodium peroxide fusion is used at AHK following by ICP. Check comparisons of Sn results from ALS and ALS indicate no statistically significant difference between results using the two different analytical techniques.
Cartier employs an industry standard QA/QC program with standards, blanks and duplicates inserted into each batch of samples analyzed at both laboratories with selected check samples sent to a separate accredited laboratory. Check results are regularly monitored.
About Cartier Silver Corporation
Cartier Silver is an exploration and development Company focused on discovering and developing its 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 |
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The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release.
Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
i Sources:
https://www.iadb.org/en/news/idb-group-bolivia-agree-major-45-billion-support-package
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305096
