Past Producing Gold Mine in Quebec
President & CEO of Cartier Resources Inc., Philippe Cloutier talks about their current focus, the Chimo Gold Mine.
“Our main commodity focus is gold. So, we look for gold in the Abitibi Greenstone Belt and our strategy is to explore the depth and lateral extensions of known gold deposits and showings. The main focus of our company right now is on the Chimo Gold Mine Project. It is a past producer that has produced just under four hundred thousand ounces of gold, right off the highway near Val d’Or. It’s got a power line that goes up to 300 meters within the project, it’s got work force within a 30-minute drive from the project site, it’s a fully rehabilitated site and it’s within 50 kilometers of five operating gold mills. There is left over resources at the mine. So, all that points to fast-tracking the permitting phase of that project. What makes us stand out is a strong cash position and the fact that we’re basically investing on something that has already produced gold. When we’ve completed the whole program, we’ll be just shy of 10 million dollars in the bank. We will have completed 120 holes, 50,000 meters of drilling on a past producing mine. We will be inching towards the million ounce resource and the value that’s locked into that.” – Philippe Cloutier, President & CEO of Cartier Resources Inc.
Cartier Resources was founded in 2006 and is based out of Val-d’Or, Quebec. Quebec has consistently ranked high as one of the best mining jurisdictions in the world primarily based on its mineral rich geology, attractive tax environment, and pro-mining government. In 2017, the Fraser Institute again ranked Quebec as one of the best jurisdictions in the world for investment attractiveness.
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