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Cartier Resources has a currently-ongoing 100,000m drill program at the Cadillac Project with a focus on the North Contact Zone (NCZ). In this conversation CEO Philippe Cloutier talked to me about the variability and continuity of recent high-grade intercepts (including the 339 g/t hit) and what’s actually mineable after true-width, capping, and dilution. We cover underground vs. shallow/open-pit scenarios, the new metallurgical program (recovery assumptions, flowsheet implications), environmental baseline work and tailings re-sampling, plus cadence of assays, QA/QC (screen metallics), and how AI-aided targeting fits with structural geology. We also touch on capital allocation, timelines, and insider alignment following recent option exercises and share sales.

TLDR

1. Program & Scope
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   Cartier is executing a fully funded 100,000-m, two-rig drill campaign aimed at;
   – upgrading the current Cadillac/Chimo mineral resource (a significant portion still Inferred), and
   – testing a broader ~15 km corridor for additional deposits.
   
   The near-term emphasis is the Contact Sector’s North Contact Zone (NCZ) while maintaining work across Main/Chimo areas. Management frames success as proving continuous, mineable shoots rather than single spectacular hits, with drilling that started in late summer and an expectation of steady assay news flow.
2. NCZ Geology & Results
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   The NCZ comprises three roughly parallel lenses (NCZ1-3) near surface, positioned at a volcanic–sedimentary contact along the Héva fault. Reported intercepts range from narrow, very high-grade VG quartz veins to broader, lower-grade disseminations in arsenopyrite-pyrrhotite within a biotite-chlorite-carbonate alteration halo. The footprint has been extended to ~400m strike and ~300m depth and remains open. However, widths and grades are variable, so Philippe says more drilling for continuity, true widths, and domaining is needed before resource inclusion.
3. Development Concept
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   Historically, Chimo was an underground mine (narrow, steep veins at depth). Cartier is now testing whether the shallow NCZ could justify starter-pit or shallow selective mining, potentially feeding a hub with Chimo-style underground. Cloutier emphasizes that any open-pit concept requires evidence of continuous mineable thickness after capping and dilution. Otherwise, NCZ zones default to selective underground. Philippe also mentioned the potential for hybrid scenarios (toll-milling vs. own mill) and sequencing to reduce upfront capital.
4. Metallurgy, Baseline & Tailings
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   Cartier has launched modern metallurgical testwork to quantify recoveries across deposit types (free gold in quartz vs sulphide-hosted), alongside environmental baseline programs. They also plan a structured tailings evaluation at the historic Chimo mine to assess residual gold and potential reprocessing, with external firms designing compliant sampling programs. The stated goal is an integrated flowsheet and credible inputs for the next economic study, with metallurgy, geochem, and baseline data feeding mine-planning trade-offs.
5. Insider Mechanics and Market Cadence
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   When asked about recent insider selling, Philippe explained that there was an insider option exercise, followed by a subsequent share sale as a function of Quebec’s immediate tax/withholding on exercised options and blackout constraints, framing the sales as cost-recovery/de-risking rather than an exit. Operationally, management commits to regular assay releases (short holes, frequent batches) and says the Contact Sector work will be guided by traditional geology plus AI-assisted target ranking, with the bar for inclusion in a resource set by drill density, continuity, and QA/QC (screen metallics, capping) rather than headline assays alone.

Cartier Resources CEO Interview With Philippe Cloutier

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