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Cartier Silver Intersects 49.19 g Ag/t, 1.35% Zn and 1.31% Pb over 44.76m in Discovery Hole on the Gonalbert Property, Potosi Department, Southern Bolivia

07.09.2023  |  GlobeNewswire
  • This zone includes a higher-grade interval of 137.42 g Ag/t, 7.91% Zn and 5.6% Pb over 5.60m
  • Other significant intersections in the Discovery Hole include:
    • 57.74 g Ag/t and 1.75% Pb over 18.25m including 79.90 g Ag/t and 2.53% Pb over 6.63m
    • 109.54 g Ag/t, 3.68% Zn and 4.44% Pb over 11.09m including 170.01 g Ag/t, 2.51% Zn and 7.00% Pb over 5.81m
  • Channel sampling of the underground artisanal workings at Gonalbert returned the highest-grade values from the lower levels including 245.5 g Ag/t over 1.5m, 492.0 g Ag/t over 0.7m and 123.9 g Ag/t over 1.5m
  • Surface rock geochemical sampling has defined an extensive area of anomalous Ag and Pb extending for a strike length of approximately 2km that correlates well with the IP chargeability trends.

TORONTO, Sept. 07, 2023 -- Cartier Silver Corp. (CSE: CFE) ("Cartier Silver" or the "Company") is pleased to report the first results from diamond drilling to test geological and geophysical targets for epithermal Ag-Pb-Zn mineralization on the Gonalbert Property, Potosi Department, Southern Bolivia. The initial program as previously reported (see Cartier Silver press release of June 29, 2023) consists of 5 drill holes totaling 3,300m collared in the general vicinity of the artisanal silver mine. To date 729.5m of drilling have been completed in two holes with a third hole in progress (Figure 1). Results have been received for drill hole DGL-01 as outlined in Table 1. Collar locations and orientations of these holes are listed in Table 2 below.

Tom Larsen, CEO of Cartier Silver, commented: "We are very pleased with the excellent result from the inaugural diamond drill campaign at Gonalbert. Initial values from our first hole demonstrate especially solid silver grades, along with significant lead and zinc. The channel sample values from the underground workings show consistency with silver head grades reported from recent mining activity. Regional geological and rock geochemical work on the property by our exploration team has outlined a prospective 2 kilometer long potentially silver-rich target area on Gonalbert. We are looking forward to receiving further results from this drilling program."

Dr. Osvaldo Arce, P.Geo., General Manager of Cartier Silver's Bolivian subsidiary, Minera Cartier S.R.L., said: "The ongoing surface and underground mapping, channel sampling and initial diamond drilling at the Gonalbert zone (southern part of the Chorrillos project), demonstrate that it is a Bolivian-type caldera hosted, polymetallic silver-dominant epithermal vein system, associated with Ordovician slates, and Miocene dacitic domes, dykes, and lithic tuffs. Vein-type and disseminated Ag-Zn-Pb mineralization occurs in subvertically continuous fault hosted veins, and replacements of brecciated faults. The widest and highest-grade veins are present in northwest trending faults which are readily evident in the geological and geophysical data."

Dr. Arce continued: "The Chorrillos project area occurs along a ±100 km northwest structural corridor that includes known deposits such as Chorolque (Sn), Iska Iska (Ag-Sn-Zn-Pb), Tasna (Bi-Sn-W-Au) and other large Bolivian type polymetallic deposits. It is very likely that Gonalbert may host high temperature Sn porphyry-type mineralization at depth."

Diamond Drilling Results

The Discovery Drill Hole DGL-01, as shown in Figure 1, was drilled to test the chargeability anomaly in the Central Adit area. This hole, which was drilled at an azimuth of 60 degrees and a dip of -70E, intersected a series of high-grade epithermal silver-lead-zinc zones within a broad mineralized envelope in altered metasediments associated with steeply dipping fault zones. Significant results are as follows:

  • 57.74 g Ag/t and 1.75% Pb over 18.25m from 115.75m to 134.00m including 79.90 g Ag/t and 2.53% Pb over 6.63m from 115.75 to 122.38m.
  • 49.19 g Ag/t, 1.35% Zn and 1.31% Pb over 44.76m from 347.10m to 391.86m including 137.42 g Ag/t, 7.91% Zn and 5.6% Pb over 5.60m from 347.10m to 352.70m.
  • 109.54 g Ag/t, 3.68% Zn and 4.44% Pb over 11.09m from 418.89m to 429.98m including 170.01 g Ag/t, 2.51% Zn and 7.00% Pb over 5.81m from 418.89m to 424.70m.

The true width of these intersections is approximately 80%.

Table 1: Diamond Drill Hole Assay Results as at September 7, 2023, Gonalbert Property

Hole # From (m) To (m) Length (m) Ag Au Zn Pb Cu Sn
g/t g/t % % % %
DGL-01 98.69 103.42 3.88 74.24 0.10 0.01 4.28 0.04 0.01
115.75 134.00 18.25 57.74 0.12 0.01 1.75 0.03 0.01
Incl 115.75 122.38 6.63 79.90 0.12 0.01 2.53 0.06 0.00
276.97 277.47 0.50 27.80 0.56 0.06 0.03 0.44 0.00
333.76 335.56 1.80 80.48 0.20 3.37 2.64 0.02 0.01
347.10 391.86 44.76 49.19 0.01 1.35 1.43 0.01 0.01
Incl 347.10 352.70 5.60 137.42 0.02 7.91 5.60 0.03 0.01
418.89 429.98 11.09 109.54 0.05 3.68 4.44 0.02 0.02
Incl 418.89 424.70 5.81 170.01 0.04 2.51 7.00 0.02 0.01
435.78 436.28 0.50 103.70 0.02 20.87 4.10 0.05 0.04

Note: True width is approximately 80% of core length. Chemical symbols: Ag = silver, Au = gold, Zn = zinc, Pb = lead, Cu = copper and Sn = tin. Quantities are given in percent (%) for Zn, Pb Cu, Sn and in grams per tonne (g/t) for Ag and Au.

Underground Channel Sampling, Gonalbert Artisanal Mine

Underground channel sampling has been carried out in the Hoyada, Labor Central Rieles (Central Adit) and Tocoyoj artisanal underground workings (Figure 1). Results (Table 3) have been received for underground sampling at Central Adit where the main production shaft is located (Figure 1). Channel sampling was systematically carried out along the ENE and NNW-oriented drifts on the principal production levels including Level 0, 100, 160 and 180.

As shown in Figure 4, apart from one sample in level 0 which returned 504.0 g Ag/t over 0.52m, the best results were obtained in the lower levels including 245.5 g Ag/t over 1.5m, 492.0 g Ag/t over 0.7m and 123.9 g Ag/t over 1.5m. Ag and Pb correlate almost perfectly in the lower levels, indicating that the silver is largely contained within galena. Galena occurs with minor pyrite and chalcopyrite, providing the chargeability target that was mapped directly in the IP/Res survey.

Geophysical data suggest that the chargeable mineralization becomes stronger with depth, reaching a maximum at the 400m limit reached with the IP/Res survey. This trend to higher Ag and Pb values at greater depth is supported by the results of sampling over four levels from the surface to -180m in the drifts at Central Adit. Drilling to date has only partially tested the extensive chargeability anomaly.

Surface Rock Geochemical Sampling

A rock geochemical surface sampling program carried out over much the Gonalbert Property, has confirmed that Ag-Pb-Zn mineralization is associated with north-northwest trending structures inferred from the IP/Res and topographic surveys (see Cartier Silver press release of June 7, 2023). Silver values show the same strong correlation with galena (Pb) that is evident in the underground workings. The principal trend of mineralization is 310-330 degrees parallel to a set of north-northwest trending quartz dykes. The strong correlation of silver with galena indicates that the IP chargeability response from the galena (over 10% in some veins) can be used to effectively target the silver-bearing mineralization.

Figure 5 shows the distribution of Ag and Figure 6 that of Pb. Complete analytical results are given in Table 4. Samples taken are chip and channel samples.

Figure 1: Geology Plan Map of Gonalbert Property Showing Locations of Diamond Drill Holes and Artisanal Mine Workings


Figure 2: Geological Cross Section Discovery Hole DGL-01, Gonalbert


Figure 3: Chargeability Cross Section, Discovery Hole DGL-01, Gonalbert


Figure 4: Geological Cross Section showing Underground Channel Sampling, Gonalbert


Figure 5: Rock Geochemical Sampling, Gonalbert Property Showing Ag Distribution


Figure 6: Rock Geochemical Sampling, Gonalbert Property Showing Ag Distribution


Table 2: Summary of Diamond Drill Hole Coordinate in Gonalbert

Hole No. Collar
Easting
Collar
Northing
Elev. Azimuth Angle Hole Length
(m)
Holes Assays Reported
DGL-01 219000.0 7637460.0 3669.5 60° -70° 457.0
Subtotal 457.0
Holes Assays Pending and In Progress
DGL-02 219214.7 7637583.9 3581.8 60 -70° 272.5
DGL-03 218742.2 7637542.2 3596.3 60 -50° In progress
Subtotal 272.50
TOTAL 729.50

Table 3: Results of Underground Channel Sampling

SAMPLE # UG LEVEL EASTING NORTHING ELEV. WIDTH (m) STRIKE DIP Ag g/t Au g/t Pb % Zn % Cu % Sn %
GLC-01 - 160 219040 7637477 3432 1.25 130 80 0.6 0.03 0.0 0.0 < 0.005 0.01
GLC-02 - 160 219023 7637474 3431 0.70 292 77 0.9 0.03 0.0 0.0 < 0.005 < 0.005
GLC-03 - 160 219003 7637493 3432 0.58 145 64 82.5 0.04 4.0 8.8 0.02 0.01
GLC-04 - 160 219004 7637496 3432 0.86 308 81 89.2 0.05 3.6 2.9 0.03 < 0.005
GLC-05 - 160 219002 7637515 3427 0.47 322 88 73.0 0.06 4.5 10.8 0.03 0.01
GLC-07 - 160 218979 7637538 3433 1.45 117 72 49.0 0.04 2.8 5.9 0.03 0.01
GLC-08 - 160 218968 7637562 3434 1.00 125 76 2.0 0.04 0.0 0.1 < 0.005 0.01
GLC-09 - 160 218952 7637594 3437 1.60 185 68 12.6 0.14 0.4 2.3 0.01 < 0.005
GLC-10 - 160 218955 7637614 3434 1.10 117 84 23.4 0.14 0.3 0.4 0.01 < 0.005
GLC-11 - 160 218909 7637675 3436 1.35 120 83 245.4 0.04 9.9 19.1 0.04 0.04
GLC-12 - 160 218887 7637703 3436 1.30 300 74 56.5 0.04 2.4 14.7 0.03 0.02
GLC-13 - 160 218878 7637711 3436 1.35 312 76 67.4 0.04 3.2 22.0 0.03 0.03
GLC-15 - 160 218852 7637755 3438 1.63 315 78 55.5 0.09 1.9 11.0 0.02 0.02
GLC-16 - 180 219032 7637476 3405 2.20 88 47 2.1 0.18 0.0 0.3 < 0.005 < 0.005
GLC-17 - 180 218992 7637513 3406 0.70 152 82 492.0 0.04 19.8 5.9 0.02 < 0.005
GLC-18 - 180 218966 7637559 3407 1.00 248 82 3.6 0.06 0.3 0.5 < 0.005 < 0.005
GLC-19 - 180 218957 7637577 3407 1.50 348 79 123.9 0.07 6.6 3.3 0.09 < 0.005
GLC-20 - 180 218895 7637684 3409 2.70 154 72 16.3 0.10 0.3 12.5 0.03 0.02
GLC-21 - 180 218921 7637666 3409 1.50 285 88 31.9 0.04 1.1 10.8 0.02 0.02
GLC-23 0 219134 7637509 3588 1.40 146 46 1.5 0.03 0.1 0.3 < 0.005 < 0.005
GLC-24 0 219102 7637495 3590 1.10 238 13 1.3 0.02 0.2 0.4 < 0.005 0.01
GLC-25 0 219096 7637492 3589 1.30 234 44 4.1 0.03 0.2 0.0 0.03 0.01
GLC-26 0 219068 7637480 3589 0.60 325 65 54.2 0.04 4.3 0.0 0.06 0.01
GLC-27 0 219063 7637478 3590 0.50 240 53 504.0 0.04 15.6 0.0 0.07 < 0.005
GLC-28 0 219013 7637457 3590 1.50 234 27 2.7 0.02 0.2 0.0 0.01 < 0.005

Table 4: Results of Surface Rock Geochemical Sampling

POINT SAMPLE # EASTING NORTHING ELEV. WIDTH (m) STRIKE DIP Ag g/t Au g/t Pb % Zn % Cu % Sn %
SJ1 GSJ-01 219434 7636725 3613 0.40 130 75 170 0.03 7.36 0.67 0.11 0.01
SJ2 GSJ-02 219546 7637763 3622 0.39 168 82 3 0.01 0.01 0.01 0.00 0.01
SJ3 GSJ-03 219603 7637753 3613 0.23 188 79 1 0.02 0.01 0.03 0.03 0.20
SJ4 GSJ-04 219634 7637631 3591 1.60 137 60 1 0.01 0.08 0.10 0.00 0.00
SJ5 GSJ-05 219396 7637643 3599 0.40 283 50 1 0.01 0.00 0.28 0.02 0.00
SJ6 GSJ-06 219438 7637621 3585 0.70 61 58 1 0.01 0.05 0.27 0.01 0.01
SJ7 GSJ-08 219641 7637409 3557 0.30 139 80 2 1.84 0.04 0.05 0.02 0.03
SJ8 GSJ-09 219423 7637568 3587 0.36 316 83 1 0.01 0.01 0.25 0.03 0.01
SJ9 GSJ-10 219778 7637341 3507 0.64 102 63 3 0.23 0.01 0.04 0.01 0.00
SJ10 GSJ-11 218770 7638456 3590 0.35 4 66 4 0.04 0.08 0.11 0.02 0.01
GN-2 GSJ-13 218735 7637999 3575 0.38 104 80 63 0.02 3.61 0.82 0.02 0.02
GN-4 GSJ-14 218797 7637971 3593 0.40 303 85 31 0.02 0.86 1.84 0.02 0.01
G11 GSJ-15 218509 7638159 3551 0.23 308 80 4 0.07 0.06 0.01 0.00 0.01
G16 GSJ-16 218679 7638208 3571 0.24 312 84 2 0.24 0.26 0.08 0.01 0.01
G20 GSJ-17 218896 7637940 3584 0.23 116 72 123 0.04 2.24 0.20 0.02 0.02
G32 GSJ-18 219417 7636627 3626 0.36 162 81 29 0.01 0.94 0.01 0.00 0.00
G37 GSJ-19 219119 7636846 3599 0.40 336 70 39 0.19 2.60 0.03 0.02 0.01
G44 GSJ-20 219113 7637113 3629 0.50 8 66 32 0.03 1.10 0.00 0.01 0.01
G54 GSJ-22 219098 7637170 3644 0.80 175 88 21 0.03 0.28 0.01 0.00 0.02
G62 GSJ-23 219094 7637210 3651 0.10 322 70 4,160 0.27 21.00 0.01 0.01 1.65
G82 GSJ-24 219101 7637043 3626 0.20 135 78 28 0.03 0.61 0.00 0.00 0.01
G92 GSJ-25 219144 7637367 3623 0.45 172 55 31 0.02 1.50 0.01 0.04 0.02
G101 GSJ-26 219063 7637508 3639 0.80 134 70 102 0.12 5.34 0.02 0.03 0.04
G117 GSJ-28 218728 7637707 3618 0.50 140 80 1 0.02 0.03 0.01 0.01 0.00
GO10 GSJ-29 219032 7636547 3592 0.40 174 80 9 0.01 0.76 0.16 0.01 0.02
GO31 GSJ-30 219384 7637186 3549 0.25 4 85 61 0.01 1.58 0.35 0.03 0.01
GO37 GSJ-31 219606 7636797 3574 2.00 Dump sample Dump sample 483 0.08 19.50 0.10 0.08 0.05
GO56 GSJ-33 219560 7636653 3616 0.25 178 52 23 0.01 0.30 0.00 0.01 0.00
GO66 GSJ-34 219812 7636807 3506 0.37 125 45 179 0.04 18.25 0.10 0.07 0.04
GO71 GSJ-35 219892 7636825 3474 0.70 122 68 8 0.04 0.31 0.06 0.03 0.00
GO74 GSJ-36 219843 7636733 3507 0.40 115 40 8 0.29 0.05 0.03 3.67 17.80
GO84 GSJ-37 219613 7637925 3623 4.00 12 60 4 0.06 0.10 0.02 0.03 0.02
GO90 GSJ-38 219551 7637557 3553 0.30 134 64 1 0.01 0.10 0.18 0.01 0.02
GO93 GSJ-40 219500 7637524 3536 0.12 128 82 8 0.01 0.17 0.62 0.00 0.01
GO102 GSJ-41 219311 7637635 3569 0.20 75 75 2 0.01 0.02 0.08 0.02 0.00
GO118 GSJ-42 219062 7637539 3638 2 stockwork stockwork 5 0.09 0.38 0.00 0.01 0.02
GO120 GSJ-43 219036 7637562 3632 0.45 322 74 73 0.12 1.53 0.09 0.03 0.02
GO137 GSJ-44 219752 7636941 3474 0.2 110 65 92 0.07 3.29 0.02 0.02 0.02
G0144 GSJ-45 219572 7637030 3520 3 132 62 64 0.06 0.33 0.27 0.01 0.04
G0147 GSJ-46 219474 7637231 3524 0.18 144 86 3 0.05 0.82 0.22 0.02 0.01
GN2 GSJ-47 219797 7637258 3500 1.2 160 25 4 0.10 0.11 0.01 5.04 0.01
GO180 GSJ-51 218712 7638156 3592 0.12 285 62 5 0.60 0.14 0.15 0.05 0.00
GO205 GSJ-55 219082 7638432 3674 0.1 310 79 2 0.22 0.12 0.12 0.00 0.00
GO216 GSJ-56 219348 7637893 3595 0.1 315 77 1 0.03 0.02 0.08 0.00 0.00
GO221 GSJ-57 218815 7637502 3639 0.5 140 78 39 0.03 1.24 0.26 0.02 0.03
GG3 GSJ-72 219853 7636739 3495 0.2 135 30 7 <0.01 0.65 0.65 0.00 <0.005
G8 GSJ-73 219798 7636797 3511 0.25 170 22 153 0.05 5.16 0.08 0.14 0.02
G35 GSJ-74 219728 7636426 3601 2 Dump sample Dump sample 345 0.03 12.70 0.28 0.03 0.35
G53 GSJ-78 219877 7636754 3497 0.2 190 15 21 0.07 2.98 0.12 0.16 0.01
G63 GSJ-80 218840 7637768 3597 0.07 93 82 44 0.21 8.52 0.06 0.07 0.02
GG4 GSJ-81 219643 7636770 3557 0.40 140 64 347 0.11 14.20 0.16 0.09 0.03
GG5 GSJ-83 219479 7636807 3590 0.35 170 41 5 <0.01 0.18 0.02 0.00 <0.005
G85 GSJ-85 219678 7636668 3563 0.15 175 37 33 0.02 0.72 0.00 0.02 0.02
GO211 GSJ-139 219390 7636837 3595 0.40 340 82 428 0.07 12.05 0.01 0.02 NA
G0212 GSJ-140 219286 7636789 3594 0.40 314 55 11 <0.01 1.02 0.01 0.00 NA
GO215 GSJ-142 219265 7636921 3594 0.30 155 55 179 0.10 0.41 0.01 0.01 NA
GO208 GSJ-143 219861 7637316 3468 0.30 114 30 75 0.05 0.03 0.03 2.82 NA
GO203 GSJ-144 219905 7637170 3433 2.00 138 32 220 0.05 0.02 0.01 0.02 NA
GO209 GSJ-145 219845 7637211 3492 0.15 190 18 2 0.01 0.02 0.01 3.17 NA
Note: NA = not analyzed

Qualified Person

Dr. Bill Pearson, P.Geo., a Qualified Person (QP) as defined under National Instrument 43-101 (NI 43-101), has reviewed and approved the scientific and technical content of this press release. Dr. Chris Hale, P.Geo., supervised the geophysical surveys. Geological surveys and diamond drill logging and sampling were supervised by Dr. Osvaldo Arce, P.Geo. Messrs Hale and Arce are QPs as defined by NI 43-101.

Rock geochemical sampling program was directed by Dr. Osvaldo Arce, P.Geo. Underground channel sampling was employed whereas for the surface rock geochemical program both channel and chip sampling method were employed.

Cartier Silver is utilizing both ALS and AHK for drill core analysis, both of whom are major international accredited laboratories. Drill samples sent to ALS are prepared in both ALS Bolivia Ltda's preparation facility in Oruro, Bolivia and the preparation facility operated by AHK in Tupiza with pulps sent to the main ALS Global laboratory in Lima for analysis. Cartier Silver employs an industry standard QA/QC program with standards, blanks and duplicates inserted into each batch of samples analyzed with selected check samples sent to a separate accredited laboratory.

Drill core samples sent to AHK Laboratories are prepared in a preparation facility installed and managed by AHK in Tupiza with pulps sent to the AHK laboratory in Lima, Peru. Check samples between ALS and AHK are regularly done as a QA/QC check. AHK is following the same analytical protocols used as with ALS and with the same QA/QC protocols.

About Cartier Silver Corporation

Cartier Silver is an exploration and development Company focused on discovering and developing its recently acquired silver property assets, including the Chorrillos Project and claims staked by the Company's subsidiary, all of which are located in the Potosi Department of southern Bolivia. The Company also holds significant iron ore resources at its Gagnon Holdings in the southern Labrador Trough region of east-central Quebec, and the Big Easy gold property in the Burin Peninsula epithermal gold belt in the Avalon Zone of eastern Newfoundland and Labrador.

For further information please visit Cartier Silver's website at www.cartiersilvercorp.com

For further information please contact:

Thomas G. Larsen Jorge Estepa
Chief Executive Officer Vice-President
(800) 360-8006 (800) 360-8006
(416) 360-8006 (416) 360-8006

The CSE has not reviewed nor accepts responsibility for the adequacy or accuracy of this release.

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 "forward-looking statements".

Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/157827cf-eef1-4ca7-9c98-0b12a045f95d
https://www.globenewswire.com/NewsRoom/AttachmentNg/9b82d2ab-2c33-4c23-8062-bf19814816c8
https://www.globenewswire.com/NewsRoom/AttachmentNg/13ebe094-95e9-4e00-99f5-279ac96e9e13
https://www.globenewswire.com/NewsRoom/AttachmentNg/6ce602bd-92cc-413c-b3eb-e6a8f6a0e207
https://www.globenewswire.com/NewsRoom/AttachmentNg/cb1c1509-5430-4b22-aba3-08d9ca81d436
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