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Junior Miner Announces Significant Gold, Silver Find In Quebec
By: AllPennyStocks.com News
August 4, 2010
The French explorer Jacques Cartier set sail for the New World much like other explorers, in terms of untold riches, and it was in what is now called Quebec that he found them in abundance. Explorers digging for gold and other precious metals have made similar discoveries in close to 500 years since, in the gold belt of Quebec and northern Ontario.
As such, the appropriately-named Cartier Resources Inc. (TSX-Venture:ECR) is still exploring in that part of Canada, and early August brought with it an exciting new uncovering of gold and silver. The Val d’Or-based company reported new results from channel samples that returned 1,162 g/t silver (Ag, to give it its chemical symbol) and 1.40 g/t gold (Au) over 0.6 metres and 106 g/t Ag, 0.39 g/t Au, and 0.43 % Copper over 7.70 meters on the Cadillac Extension property located 115 kilometers east of Val-d'Or.
ECR adds that sampling of the mineralized area was focused on the historic polymetalic zone. Systematic sampling of the horizon has outlined a silver and gold bearing horizon averaging three metres wide and over a strike length of 120 metres. The zone is open laterally and at depth.
ECR is a pure-play exploration company focused on gold in the prolific Abitibi gold belt in Quebec. Its portfolio of properties consists of wholly-owned projects managed by a team of geologists with proven records of significant discoveries. The company’s mission is to bolster shareholder value from acquisition to discovery, through the use of time-tested tools and techniques.
Elsewhere in Quebec, ECR reported promising findings on another of its properties in mid-July. Previous field and data review confirmed the Diego property's gold potential. As well, 10 new claims were added to the land holdings in order to cover a historic gold showing that returned 10.4 g/t Gold from a surface grab sample. Five different companies have drilled on this property during a 29-year period from 1967 to 1996.
ECR’s projects dot the landscape: among a dozen others is the DeCorta property, consisting of 47 contiguous claims for a total of 2 692 hectares – rich in not only gold, but also copper and zinc. All De Corta’s claims have shown an abundance of arsenic and bismuth, and two returned significant gold including one 13.6 g/t Au within the concentrates.
For those anxious about bargains within the gold field, ECR is in the upper half of a 52-week trading range that peaked in early May at 46 cents, dipping down to 12.5 cents late last August. The news about the latest find from the Cadillac Extension gave the stock price a penny boost to 36 cents, on volume of about 140,000 shares. It may be worth a look to see if this aggressive company is within your price range.
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