What Cartier Resources does

Cartier Resources Inc. (Ressources Cartier Inc.) is a publicly traded junior mineral exploration company headquartered in Val-d'Or, Quebec, Canada, focused exclusively on gold exploration in the Abitibi Greenstone Belt. The company's core asset is the 100%-owned Cadillac Project, a 14,000-hectare contiguous land package along 15 km of the Larder Lake-Cadillac Fault Zone, integrating the historic Chimo Mine and East Cadillac properties. Per the January 2026 NI 43-101 Mineral Resource Estimate, the Cadillac Project hosts 767,800 oz of measured and indicated gold resources (10.0 Mt at 2.4 g/t Au) and 2,416,900 oz of inferred resources (35.2 Mt at 2.1 g/t Au), spread across ten named target areas including Contact, Hope, Main, Access, West, Portal, Nordeau, Bateman, and Rapid.

Cartier's technical stack combines conventional diamond drilling (currently executing a 100,000-metre, 600-hole program from Q3 2025 to Q2 2027) with AI-enhanced prospectivity scoring delivered through VRIFY's 3D visualization platform, alongside standard QA/QC using ISO/IEC 17025-accredited laboratories (MSALABS, Actlabs) and metallurgical consulting (Soutex, InnovExplo). 2026 metallurgical testwork achieved 96.3% gold recovery at the Main Sector, exceeding the 2023 PEA assumption of 93.1%. The 2023 PEA for the Chimo Mine Project reports a post-tax NPV5 of C$388M, IRR of 20.8%, 9.7-year mine life, and projected average production of 116,900 oz/year at AISC of US$755/oz.

Cartier is pre-revenue with no operating mine; capital is raised exclusively through equity private placements of flow-through and non-flow-through shares, with a 20-year track record of recurring raises. The company is listed on TSX-V (ECR), OTCQB (ECRFF since April 2026), and Frankfurt (6CA), and counts Agnico Eagle Mines as a ~17.70% strategic shareholder alongside institutional investors including Jupiter Asset Management and Quebec funds. The company serves institutional and retail mining investors seeking Tier-1 gold exploration exposure in Quebec.

Name

Cartier Resources

Legal name

Cartier Resources Inc. (Ressources Cartier Inc.)

Website

https://ressourcescartier.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Cartier Resources is a publicly traded junior gold exploration company headquartered in Val-d'Or, Quebec, focused on advancing the 100%-owned Cadillac Project — a 14,000-hectare land package along 15 km of the Cadillac Fault Zone in the Abitibi Greenstone Belt hosting 3.18 Moz of gold resources across ten drill-ready target areas.

Ownership category

akta.pro rank

Headquarters

HQ city

Val-d'or

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Pre-Revenue Mineral Exploration: Cartier Resources Inc. is currently a mineral exploration company with no operating revenue. The company's activities are funded through equity capital raises (private placements, flow-through shares). The PEA projects future revenue from underground gold mining operations at the Chimo Mine Project, with planned production of 116,900 oz/year over a 9.7 year mine life, but the mine is not yet in production.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Cartier Resources is a pre-revenue mineral exploration company focused on advancing district-scale gold deposits in Quebec's Abitibi Greenstone Belt. Its flagship offering is the 100%-owned Cadillac Project — 14,000 hectares along 15 km of the Cadillac Fault Zone — currently being advanced through a fully funded 100,000-metre drilling program supported by AI-enhanced targeting and VRIFY 3D visualization. Supporting assets include the Benoist Property (Pusticamica Gold Deposit), Fenton Property, and optioned/joint-venture holdings, with future revenue projected from gold production at the Chimo Mine under a positive 2023 PEA (post-tax NPV5 C$388M, IRR 20.8%).

Product overview

Cartier Resources is a single-platform gold exploration company — its offering is not a multi-product SaaS portfolio but rather a consolidated land-package-plus-program structure organized around the flagship Cadillac Project in Quebec's Abitibi Greenstone Belt. At the core is the Cadillac Project (100%-owned, 14,000 ha along 15 km of the Cadillac Fault Zone), which integrates ten named target areas — Contact, Hope (also Chimo Tailings), Main, Access, West, Portal, Nordeau, Bateman, and Rapid — into a single 100,000-metre, 600-hole drilling campaign (Q3 2025–Q2 2027) backed by approximately C$12 million in funding. Supporting the flagship are additional assets grouped as Other Assets: the Benoist Property (Pusticamica Gold Deposit), Fenton Property, and optioned-out Wilson and Dollier Properties, plus Joint Venture Projects, Royalty Projects, and General Exploration (GENEX). Cartier's technical/regulatory disclosures — NI 43-101 Mineral Resource Estimate, NI 43-101 PEA, and a metallurgical testwork program (96.3% gold recovery) — and its investor-facing 3D visualization experience (Vrify 3-D) are product modules that wrap and support the underlying exploration portfolio rather than stand alone. AI-enhanced targeting, AI prospectivity scoring, and VRIFY-powered 3D targeting (Phi/Tau targets) cut across all target areas, with the Main Sector additionally hosting the historic Chimo Mine.

Differentiator

Problem solved

Functional benefit

Products and services

• Cadillac Project Cartier Resources' flagship 100%-owned gold exploration project covering 14,000 hectares along a 15-kilometre stretch of the Larder Lake-Cadillac Fault Zone in Val-d'Or (Abitibi), Quebec. Combines the historic Chimo Mine and East Cadillac properties. Hosts total measured & indicated resources of 767,800 oz Au (10.0 Mt at 2.4 g/t Au) and inferred resources of 2,416,900 oz Au (35.2 Mt at 2.1 g/t Au) per the NI 43-101 MRE effective January 27, 2026. Currently being advanced through a 100,000-metre/600-hole drilling program (Q3 2025-Q2 2027) and supported by VRIFY 3D visualization and AI prospectivity scoring.
• Chimo Mine Project Past-producing gold mine within the Cadillac Project (100% Cartier). Hosts 720,000 oz indicated and 1,633,000 oz inferred resources (MRE effective August 22, 2022). Subject of a positive 2023 Preliminary Economic Assessment (post-tax NPV5 C$388M, IRR 20.8%, 9.7-year mine life, 116,900 oz/yr average production at US$1,750/oz gold price). 2026 metallurgical testwork achieved 96.3% recovery for the Main Sector.
• Benoist Property (Pusticamica Gold Deposit) 100%-owned gold property located 65 km NE of Lebel-sur-Quévillon, Quebec, hosting the polymetallic (Au-Cu-Ag) Pusticamica Gold Deposit. Maiden NI 43-101 MRE (2020/2021): 1,455,400 t at 2.87 g/t AuEq = 134,400 oz Au indicated and 1,449,600 t at 2.30 g/t AuEq = 107,000 oz Au inferred. Subject of a 30,000-m four-phase directional drill program launched January 2021. Carries a 2.5-2.6% NSR royalty (of which 2.0-2.1% redeemable for C$2.0-2.05M).
• Fenton Property 100%-owned gold property located 50 km SW of Chapais, Quebec, acquired in 2021 from SOQUEM (a Quebec government-owned mining company). Channel sampling returned up to 69.1 g/t Au over 2.0 m, included in 43.5 g/t Au over 4.0 m and 27.4 g/t Au over 8.0 m. Confirmed Fenton gold Structure geometry over 325 m length by 15-25 m width. Historical drill intercepts include 29.6 g/t Au over 2.0 m at 550 m depth. Subject to a Mineral Exploration Agreement with the Cree First Nation of Waswanipi.
• Wilson Property 100%-owned gold property optioned to Hawkmoon Resources Corp. in April 2021, with Hawkmoon commencing drilling on the property in July 2021.
• Dollier Property Gold property optioned 100% to Delta Resources Limited under an option agreement executed May 31, 2021.
• Joint Venture Projects Portfolio of joint-venture exploration projects held by Cartier Resources, listed under Other Assets on the corporate website.
• Royalty Projects Royalty interests held by Cartier Resources, listed under Other Assets (e.g., Benoist 2.5-2.6% NSR royalty with 2.0-2.1% redeemable for C$2.0-2.05M).
• General Exploration (GENEX) General greenfield exploration portfolio managed by Cartier Resources, listed under Other Assets.
• VRIFY 3-D (Cadillac Project 3D Experience) Interactive 3D exploration experience of the Cadillac Project delivered via the VRIFY platform. Allows investors and stakeholders to navigate the 15 km Cadillac Fault Zone prospectivity model in 3D, integrating AI prospectivity scores (Phi and Tau targets) with drill data.
• NI 43-101 Mineral Resource Estimate (Cadillac Project) NI 43-101 Technical Report and Mineral Resource Estimate on the Cadillac Project, Val-d'Or, Abitibi, Quebec, Canada. Reports total measured & indicated resources of 767,800 oz Au (10.0 Mt at 2.4 g/t Au) and inferred resources of 2,416,900 oz Au (35.2 Mt at 2.1 g/t Au).
• NI 43-101 Preliminary Economic Assessment (Chimo Mine Project) NI 43-101-compliant Preliminary Economic Assessment filed for the Chimo Mine Project (April 2023). Reports post-tax NPV5 of C$388M, IRR 20.8%, 2.9-year payback, 9.7-year mine life, 116,900 oz/yr average production, all-in sustaining cost US$755/oz, 93.1% mill recovery. Pre-tax NPV5 C$672M, IRR 27.4%.
• Cadillac Project Metallurgical Testwork Program Metallurgical testwork program on drill core samples from the Cadillac Project Main Sector, supervised by Soutex Inc. Includes head characterisation, comminution testing, cyanide leach testing, gravity separation, cyanide detox, and QEMSCAN mineralogical analysis. Delivered 96.3% overall gold extraction after less than 48 hours of cyanide leaching (range 95.4% East Chimo to 97.1% Chimo), exceeding the 2023 PEA estimate of 93.1% and the historical Chimo Mine average of 90.6%.

Quantifiable outcome

• 96.3% gold recovery at Main Sector (versus 93.1% in 2023 PEA)
• +4 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability1 record

Feature5 records

Partnerships

13 partnerships are on record, tiered royalty partner on nordeau property (3% gmr), historical jv partner for fenton property, strategic acquirer/vendor partner for chalice gold mines (quebec) inc., minor option partner for dollier property, minor option partner for wilson property, core technical consulting partner for resource estimates and pea, core metallurgical consulting partner, critical indigenous partnership for social license on fenton property, key visualization and ai targeting technology partner, royalty partner on chimo mine property, appointed external auditor, primary analytical laboratory partner and secondary analytical laboratory partner.

• Globex Mining Enterprises Inc.royalty partner on nordeau property (3% gmr)Strategic or Co-development PartnerGlobex Mining Enterprises Inc. holds the Nordeau Royalty claims on Cartier's property. Cartier's drill program on Globex's royalty claims identified significant gold mineralization in several zones, with drill results including high-grade assays exceeding 300 g/t Au. Globex earns a 3% GMR royalty on the Nordeau West deposit.
• SOQUEM Inc.historical jv partner for fenton propertyStrategic or Co-development PartnerCartier signed binding letter of agreement with SOQUEM Inc. in February 2021 and definitive agreements in April 2021, acquiring 100% ownership of the Fenton Property in exchange for consideration. SOQUEM is a Quebec government-owned mining company.
• O3 Mining Inc.strategic acquirer/vendor partner for chalice gold mines (quebec) inc.Strategic or Co-development PartnerCartier executed a non-binding letter of intent with O3 Mining in February 2022 to acquire 100% of Chalice Gold Mines (Quebec) Inc., followed by a definitive share purchase agreement in April 2022. This acquisition expanded Cartier's gold property portfolio in Quebec.
• Delta Resources Limitedminor option partner for dollier propertyStrategic or Co-development PartnerCartier signed an option agreement with Delta Resources Limited in May 2021 to option 100% of the Dollier Property. Delta granted Cartier the right to acquire full ownership of the Dollier gold property.
• Hawkmoon Resources Corp.minor option partner for wilson propertyStrategic or Co-development PartnerCartier signed an option agreement with Hawkmoon Resources Corp. in April 2021 to option 100% of the Wilson Property. Hawkmoon later commenced drilling on the Wilson property (July 2021).
• InnovExplo Inc.core technical consulting partner for resource estimates and peaImplementation/ SI/ Consulting PartnerInnovExplo Inc. is Cartier's primary geological and mining consulting firm. They have produced multiple NI 43-101 Mineral Resource Estimates for the Chimo Mine and West Nordeau deposits (most recently August 22, 2022), the Preliminary Economic Assessment (PEA) for the Chimo Mine Project (April 2023, with $388M CAD post-tax NPV5), and ongoing technical work. InnovExplo has worked on 450+ mandates for 170+ junior mining companies since 2003.
• Soutex Inc.core metallurgical consulting partnerImplementation/ SI/ Consulting PartnerSoutex, a Quebec City-based consulting firm specializing in mineral processing and metallurgy, supervised the metallurgical testwork program on drill core samples from the Main Sector at the Cadillac Project (results announced May 2026). Soutex has offices in Canada (Quebec and Longueuil) and Germany (Munich), with more than 40 metallurgists, process engineers, and technicians.
• Cree First Nation of Waswanipi (CFNW)critical indigenous partnership for social license on fenton propertyStrategic or Co-development PartnerCartier Resources Inc. and the Cree First Nation of Waswanipi (CFNW) entered into a Mineral Exploration Agreement (MEA) in November 2021 to facilitate exploration activities. This agreement demonstrates Cartier's commitment to social license and Indigenous community engagement.
• VRIFY (VRIFY Technology Inc.)key visualization and ai targeting technology partnerTechnology or IntegrationVRIFY provides Cartier with a 3D visualization deck platform (vrify.com/decks/20588) for immersive exploration of the Cadillac Project. VRIFY's technology is used to flag gaps between known deposits and outline new high-grade targets, and to highlight structural intersections (e.g., Phi and Tau targets) as high-priority discovery zones.
• Triple Flag Precious Metalsroyalty partner on chimo mine propertyOthersTriple Flag Precious Metals holds a 1% Net Smelter Return (NSR) royalty on the Chimo Mine property, valued at approximately $20.96 CAD/troy ounce in the PEA economic model.
• KPMG LLPappointed external auditorImplementation/ SI/ Consulting PartnerKPMG LLP was appointed as auditors of Cartier Resources Inc. at the June 16, 2026 Annual General Meeting, with shareholder approval. KPMG provides external audit services for the company.
• MSALABSprimary analytical laboratory partnerImplementation/ SI/ Consulting PartnerMSALABS (located in Val-d'Or, Quebec) provides preparation and gold analysis services for Cartier's drill core samples, using Chrysos Photon Assay technology. MSALABS is ISO/IEC 17025 accredited for gold assays.
• Activation Laboratories Ltd. (Actlabs)secondary analytical laboratory partnerImplementation/ SI/ Consulting PartnerActivation Laboratories Ltd. (Actlabs), with locations in Val-d'Or and Ste-Germaine-Boulé (Quebec), provides preparation and gold analysis services using 50 g fire assay fusion with AAS finish. Actlabs is ISO/IEC 17025 accredited for gold assays.

Scale indicators9 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Monarch Mining Corporation: Monarch Mining was a Quebec-focused gold junior that operated the Beaufor mine and advanced the McKenzie Break project near Val-d'Or. Comparable to Cartier as a direct Quebec gold peer with similar project geography (Abitibi), though Monarch's recent financial restructuring illustrates the execution risks facing single-asset Abitibi juniors.
• O3 Mining Inc. O3 Mining is a Quebec-focused gold explorer/developer with advanced projects (Marban, Alpha) in the Abitibi region. It is a direct peer to Cartier given the shared Abitibi focus, similar PEA/pre-construction stage, and overlapping investor base; notably, O3 was the vendor in Cartier's 2022 Chalice Gold Mines acquisition.
• Bonterra Resources Inc. Bonterra Resources is a Quebec gold junior advancing the Gladiator/Bachelor/Moroy projects in the Abitibi. Comparable to Cartier as a junior explorer-developer in the same mining camp, with overlapping investor base, similar market cap profile, and shared reliance on Quebec flow-through equity markets.
• Probe Metals Inc. Probe Metals is a Quebec-focused gold explorer advancing the Novador project in the Abitibi Greenstone Belt near Val-d'Or. Direct comparable to Cartier given similar district-scale land package strategy, proximity to Cadillac Fault geology, and PEA-stage development timeline with multi-million-ounce resources.
• Yorbeau Resources Inc. Yorbeau Resources is a Quebec-focused gold junior with the Rouyn Property along the Cadillac Fault near Cadillac, Quebec. Comparable to Cartier as a junior explorer on the same fault structure, with similar resource scale and pre-revenue, PEA-stage profile.
• Radisson Mining Resources Inc. Radisson Mining is a junior gold developer advancing the O'Brien project along the Cadillac Fault in Rouyn-Noranda, Quebec. Direct peer to Cartier given shared Cadillac Fault geology thesis, similar resource scale (~1-2M oz), and pre-construction/PEA development stage.

Broad incumbents

• Agnico Eagle Mines Limited: Agnico Eagle is a senior Canadian gold producer with major operations in the Abitibi Greenstone Belt (LaRonde, Canadian Malartic, Goldex) and is Cartier's largest strategic shareholder (~17.70%). Broad incumbent comparable given overlapping Quebec geology expertise and the credible acquisition pathway Agnico's stake implies for Cartier.
• Wesdome Gold Mines Ltd. Wesdome is a Canadian gold producer operating the Eagle River and Kiena mines in Ontario/Quebec. Comparable as a mid-tier Canadian gold producer with Quebec operations, providing a useful benchmark for the valuation trajectory Cartier could follow as it advances Chimo toward production.
• IAMGOLD Corporation: IAMGOLD is a mid-tier gold producer with Westwood mine in the Abitibi and the Côté Lake project in Ontario. Comparable as a Quebec-operating incumbent gold producer that shares geological and regulatory context with Cartier, and historically a counterparty for Abitibi asset transactions.

Emerging players

• Kenorland Minerals Ltd. Kenorland Minerals is an early-stage exploration junior focused on Quebec and other Canadian jurisdictions. Emerging-player comparable to Cartier given shared Quebec exploration focus and project-generator approach, though with a smaller resource footprint and earlier stage of development.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights9 records

Customer concentration

• Xtwitter.com/cartierress
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• Facebookfacebook.com/cartierresources
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Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds23 records

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cartier Resources