Cartier Iron Commences Phase I Diamond-Drilling Programme in the Southern
Labrador Trough, Quebec
TORONTO, ONTARIO -- (Marketwire) -- 02/04/13 -- Cartier Iron
Corporation (CNSX:CFE) ("Cartier Iron"), (formerly Northfield Metals
Inc.), is pleased to announce the commencement of a diamond-drilling
programme on its recently optioned Penguin Lake property (the
"Property"), located in the Gagnon Terrane in northeastern, Quebec.
The Property, which forms part of the recently optioned Gagnon
Holdings (see Cartier Iron's Press Release of September 28, 2012)
comprises 60 claims covering over 30 km2 in the southern part of the
Labrador Trough, which is host to all current iron-ore production in
The thirteen hole NQ-core drilling programme is underway and is
designed to test magnetite/hematite-rich members of the Sokoman
(iron) Formation that underlie the Property (Figure 1).
A preliminary exploration campaign was carried out in 1961 by Quebec
Cartier Mining Co. ("QCM") in the area of Cartier Iron's proposed
2013 campaign. QCM's geological mapping and geophysical surveys
outlined two distinct, strong, positive magnetic-response anomalies
east of Penguin Lake that they subsequently tested with a ten-hole
diamond-drilling program. The historic drill-holes intersected
high-grade hematite- and magnetite-rich iron formation up to 150
metres thick, from surface to depths of approximately 200 metres,
coincident with the magnetic-response anomalies. This zone of
mineralization has been catalogued by Ressources naturelles Quebec as
the Lac Pingouin occurrence (http://sigeom.mrnf.gouv.qc.ca/ Cogite #
Data from recent airborne magnetic (2008(1)) and airborne
magnetic/gravimetric (2011(2)) surveys completed by Champion Iron
Mines Ltd. ("Champion") were modelled by Abitibi Geophysics of
Val-d'Or, Quebec, and suggest that the iron formation may extend to
depths beyond 500 metres. Furthermore, though two distinct magnetic
anomalies are apparent at surface, the Abitibi interpretation
indicates that the iron formation underlying the anomalies is likely
a continuous body below surface. A gravity anomaly that overlaps, but
is centred slightly north of, the eastern magnetic anomaly suggests
that the iron formation continues, down-dip, toward the north.
Ankcorn, President of Cartier Iron stated, "We are extremely
satisfied to get the drilling program underway and eagerly await the
results. Our intent is to aggressively drill priority targets on our
Gagnon Holdings to prove-up a significant iron resource."
Logan Drilling of Stewiacke, Nova Scotia has been contracted to
complete the drilling programme, utilizing two (2) drill-rigs capable
of wire-line diamond-drilling utilizing NQ-sized core barrels. The
drill-rigs have been mobilized to the Property, where a 10-kilometre
network of drill-access trails is being cleared.
MRB & Associates ("MRB") of Val-d'Or, Quebec and Mercator Geological
("Mercator") of Dartmouth, Nova Scotia have provided a team of
experienced geologists and technicians to carry-out the core logging
and sampling. MRB will also handle the assimilation and management of
the Project's technical and analytical data.
About Cartier Iron Corporation
Cartier Iron is a junior exploration company focused on discovering
and developing iron resources in the province of Quebec. The
Company's projects include the Borel River Property in the Ungava Bay
region of northern Quebec, and the optioned Gagnon Holdings in the
southern Labrador Trough, in northeastern Quebec.
The technical content of this press release has been reviewed by Mr.
John Langton, P. Geo., Vice President, Exploration and a Director for
Cartier Iron Corporation, and a Qualified Person under the guidelines
of National Instrument 43-101.
For additional information on Cartier Iron, please visit our website
Statements in this release that are not historical facts are
"forward-looking statements" and readers are cautioned that any such
statements are not guarantees of future performance, and that actual
developments or results, may vary materially from those in these
(1)2008 (GM63919) GPR Geophysics Report & Survey Data: 2008 Airborne
Survey, Fermont Properties, for Champion Iron Mines Limited (formerly
Champion Minerals Inc.).
(2)2011 (GM 65900) Fugro Airborne Survey, for Champion Iron Mines
To view Figure 1: Proposed 2013 Phase 1 drill-holes, Penguin Lake
Project, please visit the following link:
The CNSX has not reviewed nor accepts responsibility for the adequacy
or accuracy of this release.
Cartier Iron Corporation
President & Director
Cartier Iron Corporation
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