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Cartier Iron Corp.
Summary
| Project: | Big Easy | |
|---|---|---|
| Deposit: | Big Easy | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 6/5/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 5-6-2018: Cartier Iron Corp. announces an Exploration/Drilling Update report for its Big Easy deposit at the Big Easy project. Technical report of property and recommendations for further work. Mercator Geological Services Limited (“Mercator”) was retaine | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Micheal Cullen (Mercator Geological Services Ltd.) | |
| ABSTRACT: | Mercator Geological Services Limited (“Mercator”) was retained by Cartier Iron Corporation (“Cartier”) to prepare a property Technical Report in accordance with National Instrument 43- 101 (“NI 43-101”) for the company’s Big Easy Property (the “Property”) gold exploration project located near Clarenville, Newfoundland and Labrador (NL), Canada. Cartier is a Canadian exploration and development company publicly traded on the Canadian Securities Exchange (CSE) under the trading symbol “CFE”. The Company is headquartered in Toronto, Ontario, with an exploration office in Val-d’Or, Quebec, and has substantial iron exploration and resource holdings in the southern extent of the Labrador trough, near Gagnon, Quebec. The Big Easy Property was the company’s main non-iron exploration asset at the effective date of this report. The Property is located in eastern Newfoundland within NTS map sheets 2 D/1 and 8, south and to the west south of Thorburn Lake, approximately 20 km northwest of the town of Clarenville, and 125 km west of the provincial capital city of Saint John’s. The License area of the property at the effective date of this report covers 9225 hectares. This includes 78 mineral claims on License 023249M and an additional 200 map staked mineral claims (Licenses 025446M and 025452M) acquired by 65421 NL Inc. in late 2017. These three Licences cover a total surface area of 6950 hectares and fall under terms of a Definitive Agreement between Cartier and 65421 NL Inc. Cartier also staked an additional 91 claims (License 025688M) in early 2018 that adjoin the original claims to the west and holds a 100% interest in those claims. These comprise the remaining surface area. Licence 023249M claims are subject to an underlying 3% royalty (“Royalty”) of which Cartier has been granted the option to purchase half of the Royalty (1.5%) in exchange for staged payments to the Royalty holders in the aggregate of $700,000 on or before 60 months following the closing date of the Definitive Agreement. On Nov. 22, 2017 Cartier announced completion of the acquisition of a 100% interest (“Acquisition”) in the Property. | |
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