Cartier Resources (TSE:ECR) has released an update.
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Cartier Resources Inc. has launched Phase II of its extensive 28,000-meter drilling program at the Chimo Mine Project, aiming to uncover new mining potential within the Larder Lake – Cadillac Fault Zone—a region renowned for significant gold mines. The project, which includes the Chimo Mine and the recently acquired East Cadillac properties, focuses on exploring 50 gold-bearing targets identified from historical drilling results. The positive preliminary economic assessment highlights a potential after-tax net present value of CA$388M and a 21% internal rate of return, underscoring the project’s promising financial prospects.
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