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Cartier Resources Inc. (TSX-V: ECR): Focused on Their Past-Producing Chimo Mine Project in the Prolific Abitibi Gold Belt in Quebec, Interview with Philippe Cloutier, President & CEO

on 2/13/2018
Cartier Resources Inc. (TSX-V: ECR) is an exploration company, focused on discovery in the prolific Abitibi Gold Belt in Quebec. We learned from Mr. Philippe Cloutier, Director, President & Chief Executive Officer of Cartier Resources Inc. that they are focused on their flagship past-producing Chimo Mine Project, using 4 diamond drill rigs for their exploration campaign. They now have a solid treasury of over 16 million dollars. Near term plans include focusing on the Chimo Mine Project for the greater part of the year, with the aim of generating a new resource estimate. Towards the end of the year, they will add some spice to the program by drilling another advanced project, the Wilson Project. With the strong cash position, dynamic aggressive drilling on the Chimo Mine asset, and the right team, they have set themselves up to produce strong, robust, frequent news releases throughout 2018.


Cartier Resources Inc.

Dr. Allen Alper: This is Dr. Allen Alper, Editor-in-Chief of Metals News, interviewing Mr. Philippe Cloutier. I can see your company's made great progress since we spoke last. That's fantastic. You’re doing a great, great job.

Mr. Philippe Cloutier: Indeed, you know last time we spoke, I think it was November, last year. Our stock since then had tracked all the way up to the mid-thirty cent level. It's receded a bit, but you're quite right in saying we've made great progress because when last we talked we had about 9 million dollars in our treasury. We had two diamond drill rigs working, and we were focused on the initial phases of drilling the Chimo mine project and the Wilson project. Well since then we've now attracted more cash to our till. We now stand with a solid treasury of over 16 million dollars and we now have 4 diamond drill rigs focused on our flagship Chimo Mine Project. So yeah, we've lifted the company to a whole different level of activity and promise of reward to our investors.

Dr. Allen Alper: That's fantastic. You must be very proud of your accomplishments. It's really great.

Mr. Philippe Cloutier: Well it is, and we credit the success to three things. The first is we engineered our success with very fundamental steps, we took four years ago that were non-conventional and counter intuitive to the rest of the industry. We decided to position ourselves with a higher profile set of assets. We purchased projects that had ounces in the ground. Basically, we designed our portfolio of projects and assets to match what we thought would be in demand in the new markets when the markets recover.

Secondly those actions attracted the corporate sponsorship and technical sponsorship of a senior mining entity such as Agnico Eagle. And thirdly that allowed our team to attract more money and with the assets that we had, to finally do the type of work we wanted to do on these assets. So it was just a question of flipping on the switches and off we went.



So now it's no surprise when we produce news releases; such as the one we had on Fenton recently, where there was a wide interval of low grade gold with richer subsections and the continued releases we have on the Chimo, past producing gold mine.



Dr. Allen Alper: That's outstanding work you and your people have been doing. That's really excellent. Could you tell our readers/investors a little bit more about the deposits, what you've discovered so far and what your plans are for 2018?

Mr. Philippe Cloutier: In 2018, the markets and our large shareholders; the Quebec Sovereign Funds, Agnico Eagle, JP Morgan, and some new sophisticated investors, want to see us deliver. So we will focus on the Chimo Mine Project for the greater part of the year. Towards the end of the year we'll add some spice to the program by drilling another advanced project, the Wilson Project

The Chimo Mine Project was a past producing mine. It was shut down in 1997 not for lack of mineral resources, but mostly because the price of gold was $300 U.S. So it was not the best economy for that mine to be making money. They shut it down and put it on care and maintenance. Then that company went in a different direction. Eventually the mine was sold off to another junior that went into receivership - bankruptcy. We bought the asset. So we're not starting from scratch. We're actually starting from an area that has legacy, historical diamond drill data. Over 4000 diamond drill holes, 60,000 assays of historic information. Our first order of business was to build a 3D-model dataset of the Mine environment.

We determined that there are definite, bonafide, geometrical extensions to the known gold mine. There are 24 known gold zones in addition to the main chute at the mine. Last year we embarked on a very robust diamond drill program that recently brought us to having 4 machines out at the mine site. Now, 2 of the drill rigs are actually targeting lateral extensions and north and south extensions of known mineralization, discovered by the previous mind producer.



So we're following up on those relatively shallow gold zones with two rover drills. We also have two machines set up, drilling really deep, at depths along the extensions of the main mine trend. We know that we're going to go back into a second phase of drilling with those rover drills. We very recently demonstrated the mineralization does continue at depth. We're waiting for assay results as we speak, but we're confident that throughout the year we'll be able to complete the first phase diamond drill program. And then dovetail immediately into a second phase of drilling.

All of that work is trending towards a new resource estimate.

Dr. Allen Alper: That sounds excellent. Could you refresh the memory of our readers/investors on your background, your team, and your board?

Mr. Philippe Cloutier: We have a very robust and wide ranging skill set on our team. I'm a geologist by trade. I graduated in the late 80's. I've worked for senior mining companies and junior mining companies alike. About 10 years ago I was the founder of Cartier Resources. We decided to list the company on the public exchange. Our Vice President is a PHD in metallurgy. He's been in the business over 35 years. We worked together at Noranda Exploration over 30 years ago and five years ago he joined our team. He and I helped develop the focus strategy we have now at Cartier. Our CFO, Nancy Lacoursiere manages the business administrative part of our company. We have a very robust team.

Our current Chairman is a charted accountant. He was Vice President of Richmond Mine in the early days. Today Richmond was taken out by Alamos Gold. He also sits on the board of a publicly listed diamond drill company, his obvious skill set is accounting, finances and business transactions. We also have on the board, Michel Bouchard, who also sits on several junior mining exploration companies and is experienced in discoveries, company building and mergers and acquisitions. We have Mario Jacob, who has been on our board since the inception of the company. He's a lawyer. He was also on the Virginia Mines team when they discovered Eleanor. He knows the mining game and adds a lot of value to our company. Then we also have Daniel Massé, who is a financial planner and an administrator. He understands the financial markets and has built a private firm around that skillset.

Our point man is a young geologist, Ronan Deroff. He bridges the innovative technologies and digital management of data with traditional geology

We currently have 20 men out in the field, with drilling contractors. Basically our activities are focused on diamond drilling.

Dr. Allen Alper: Excellent! You have a great background and your team has a broad skillset.

Mr. Philippe Cloutier: True, a broad skillset and a devotion to getting things done and we finally have the treasury to do it. We have the right amount of cash, excellent, specific assets, and the right team. I truly think we should be taken seriously as an investment option.

Dr. Allen Alper: Sounds great! Could you tell our readers/investors more about your share structure?

Mr. Philippe Cloutier: Indeed we currently have 176 million shares outstanding. Our main shareholders are; Agnico Eagle, who owns 17 percent of our shares, the Quebec Sovereign Funds, owning just under 20 percent, JP Morgan of the UK, owning 8 percent, various other sophisticated institutions, each owning about 5 to 8 percent. So collectively, approximately 85 percent of the outstanding shares are in serious long-term, locked in positions. A free float of about 15 million shares. With the current market situation, the recent Dow plunge and the competition we're getting from cryptocurrency and cannabis stocks, we're challenging the new investor ecosystem. I do believe our focus on drilling, rewarding investors through the drill bit, is going to eventually set us apart.



Dr. Allen Alper: That sounds absolutely brilliant! What are the primary reasons our high-net-worth readers/investors should consider investing in Cartier Resources?



Mr. Philippe Cloutier: The primary reasons are: strong cash position, dynamic aggressive drilling on the Chimo Mine asset, and the right team. We're not scrambling for talent, we have it in house to get it all done. Because of our robust cash position and dynamic drilling we will be producing frequent, results-oriented news releases throughout 2018. We will build towards increasing the gold ounce situation for Cartier. People should see that translating into value and a much higher share price.

Dr. Allen Alper: That sounds like a great opportunity!

Mr. Philippe Cloutier: I’d like to invite you and your readers/investors to go to our website and view a 3D video of the Chimo Mine, where you can see the shaft, the depth, the drifts and the ongoing drill program. It’s a 4 minute animation of what we're doing. If any of your readers/investors have any questions, drop me a line, send me an email, I will be more than happy to answer them.

Dr. Allen Alper: Excellent! Thank you.

www.ressourcescartier.com

Philippe Cloutier, P.Geo.
President and CEO
Telephone: 819 856-0512
philippe.cloutier@ressourcescartier.com





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