Cartier Iron Corporation provided an update on its diamond drilling program at its wholly-owned Big Easy property, located near Clarenville, in eastern Newfoundland. As previously announced the 10,000m diamond drill program will test significant resistivity anomalies along a major north-northeast trending structural break outlined by the Controlled Source Audio Magneto-Telluric survey in the Central Anomaly – Big Easy Showing Area. Drilling is being done by the Logan Drilling Group.

Previous drilling in the Central Anomaly area was successful in confirming an extensive zone of silicification up to 200m wide with low sulphidation epithermal gold-silver mineralization. Hole BE-21-35, drilled in the recent winter 2021 program, returned 0.45 g/t Au and 9.7 g/t Ag over 34m, while Hole BE-21-36 intersected 0.62 g/t Au and 16.12 g/t Ag over 13m. Resistivity response from the CSAMT survey, is markedly higher at deeper levels in the Central Anomaly area suggesting that these earlier holes may have been drilled too high in the epithermal system.

Drilling completed in the fall of 2021 and current drilling planned in winter 2022 is focused on testing the resistivity highs at a deeper level to test for the potential core area of Au-Ag mineralization on targets along a strike length of 2.4km. Eight holes totaling 4,865m were completed by the Christmas break, with lengths ranging from 425m to 752m. Assays on all these holes are pending.

is a block model of the 3D CSAMT resistivity model with the locations of holes completed and additional planned holes totaling 5,135m, which will complete the 10,000m program. For the planned holes, an additional two holes are being completed at the Central Anomaly target, then the focus will shift to testing the resistivity highs in the Central North area located approximately 400m to 500m north of the Central Anomaly and then finally move further northward to the Big Easy South area, approximately 400m south of the original Big Easy showing. This planned additional drilling is fully permitted.