Philippe Cloutier, President and CEO of Cartier Resources Inc. talks about their four gold projects in Quebec’s Abitibi Gold Belt.
We focus our exploration exclusively in the Quebec portion of the Abitibi Greenstone Belt, more specifically on gold projects. Our exploration focuses on projects that already have discovered. We’ve got four projects each one of them could be the flagship of a junior company per se and so we’re going to run a an aggressive diamond drill program for 50,000 meters on all four projects. The one most important projects obviously is the Chimo Mine project. Chimo Mine has in the past produced just under four hundred thousand ounces of gold. It did shut down in 1997 not for lack of ore but because the price of gold was $275 US. We’re going to pick up from where they left off and with today’s gold price and today’s new technologies and mining lower grades at depth we think we’re going to give this project another kick at the can. We were able to acquire these projects in the last bear market and now we’re sitting pretty with 14 million dollars in cash and ready to explore. We’re pretty proud to have attracted a Agnico Eagle as a sponsor to this adventure, I mean with their investment and their technical support we really do believe that you could bring this to another level.
Cartier Resources is a Canadian based exploration company focused on discovery in the prolific Abitibi Gold Belt in Quebec.
Cartier Resources was listed ten years ago. From 2007 up until the most recent start of the crisis, which was late 2011-2012, we were progressing well and focusing on grassroots exploration. When the markets turned brutally in 2012, crashed and stayed really low for the ensuing four years, Cartier had about $4 million in the bank. Essentially we decided to upgrade our product, and we redesigned our corporate strategy. The basis of the corporate strategy was to identify and acquire projects of merit that had historic resource estimates, or ounces in the ground. Again, we focused exclusively in the Abitibi greenstone belt. Today in early 2017, the outcome of that four-year shopping spree to acquire deposits, attracted the sponsorship of a major mining company, Agnico Eagle, who invested $4.5 million in December of 2016 to own just under 20%. They have an ownership of 19.9% of our shares. We have a great technical relationship with them as we can always count on them for expert technical advice.
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