MONTREAL, April 17, 2024 (GLOBE NEWSWIRE) -- Sirios Resources Inc. (“Sirios” or the “Company”) (TSX-V: SOI; OTCQB: SIREF) is pleased to provide the final analytical results from the 3,200 metre winter 2024 drilling program in the Eclipse Area of the Cheechoo gold project located in Eeyou Istchee James Bay, Quebec. The drill program successfully confirmed the continuity of the Eclipse Zone, significantly extended the zone at depth and intersected gold in new areas outside the main Eclipse Zone.
Drill Result Highlights:
105.21 g/t Au over 0.8 m, included in 14.16 g/t Au over 6.4 m (CH24-305)
24.42 g/t Au over 1.0 m, included in 3.89 g/t Au over 7.0 m (CH24-306)
12.82 g/t Au over 0.8 m (CH24-311)*
28.47 g/t Au over 1.0 m (CH24-313)*
10.64 g/t Au over 1.5 m (CH24-314)*
4.05 g/t Au over 3.8 m (CH24-314)
47.65 g/t Au over 0.9 m, included in 4.48 g/t Au over 10.5 m (CH24-316)
*Outside the main Eclipse Zone
All drill holes intersected the Eclipse Zone, confirming its excellent continuity (Figure 1). The program extended the mineralized zone to more than 400 meters downdip to the north and nearly 120 meters laterally (Figure 2). The winter 2024 drilling program also intersected several high-grade gold intervals outside of the main Eclipse Zone, which suggests the possible presence of other high-grade subparallel zones (“stacked zones”).
“We are very pleased with the results obtained in this drill campaign. The high-grade nature of the Eclipse Zone, its excellent continuity, its dip angle and the fact that mineralization begins at surface are all favorable characteristics for potential underground mining development. Sirios will therefore be able to assess the mining potential of this zone for development using a ramp,” commented Dominique Doucet, CEO of Sirios.
240417_Eclipse_Section
Figure 1: Vertical section of the high-grade Eclipse Gold Zone. See the location of this section in Figure 3.
240417_Eclipse_Longitudinal
Figure 2: Inclined longitudinal section of the high-grade Eclipse Gold Zone.
TABLE 1: MAIN RESULTS
Drill Hole CH24-
From (m)
To (m)
Au (g/t)
Length (m)
305
134.0
135.5
4.59
1.5
251.5
257.9
14.16
6.4
*
Incl. 256.2
257.9
51.41
1.7
*
Incl. 256.2
257.0
105.21
0.8
*
306
312.3
319.3
3.89
7.0
*
Incl. 316.3
317.3
24.42
1.0
*
307
79.6
80.6
4.40
1.0
*
308
51.0
52.5
0.98
1.5
*
309
41.0
42.5
1.41
1.5
*
310
105.0
106.5
1.89
1.5
372.8
373.8
0.99
1.0
*
311
146.2
149.9
2.52
3.7
202.6
203.4
12.82
0.8
226.0
233.5
1.13
7.5
268.5
274.4
0.52
5.9
*
312
336.3
350.4
0.80
14.1
337.4
344.0
1.22
6.6
*
313
40.7
41.7
28.47
1.0
276.5
295.8
0.73
19.3
*
Incl. 282.0
283.0
0.99
1.0
*
314
95.5
97.0
10.64
1.5
109.0
110.0
4.25
1.0
233.5
237.3
4.05
3.8
*
315
244.4
246.3
2.39
1.9
*
Incl. 244.4
245.4
4.19
1.0
*
316
231.0
232.0
6.16
1.0
304.5
315.0
4.48
10.5
*
Incl. 304.5
311.0
6.92
6.5
*
Incl. 305.6
306.5
47.65
0.9
*
* Eclipse Zone. Interval lengths are measured along the holes and do not necessarily equate to true thickness. Table of drill holes coordinates is available at: www.sirios.com/bd-coordinates-drilled-20240417
About the Eclipse Area A large volume resource of 1.4 million ounces of gold (Indicated) and 500,000 ounces of gold (Inferred) has already been delineated in the main area of the Cheechoo deposit (Figure 3). The Eclipse area includes a high-grade gold zone that has not been included in the current resource. For more information, see the Eclipse Area Presentation.
240417_Cheechoo_Deposit
Figure 3: Location of the Eclipse area in the Cheechoo gold deposit.
About the Cheechoo Property The Cheechoo Gold property, 100% owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, 200 km east of Wemindji and less than 10 km from Newmont’s Éléonore gold mine. The property’s latest resource update delineated, for an open pit model, Indicated Resources of 1.4 million ounces of gold contained in 46.3 million tonnes at an average grade of 0.94 g/t Au, as well as Inferred Resources of 500,000 ounces of gold contained in 21.1 million tonnes at a grade of 0.73 g/t Au (ref.: press release of 06/12/2022).
About Sirios Sirios Resources is a Quebec-based mineral exploration company focused on developing its portfolio of high-potential gold properties in Eeyou Istchee James Bay, Canada.
Analytical quality control The drill core was described and sampled by Sirios staff at the Cheechoo exploration camp. The core was sawn into two halves, one sent to a certified commercial laboratory for analysis, and the other retained for future reference. Following a strict analytical quality assurance and control program, blanks and certified reference materials were integrated into the sampling sequence. Samples were assayed for gold, on approximately 500g of crushed material, with the Photon Assay™ method (PAAU02) at the MSALABS laboratory located in Val-d’Or. Samples with the presence of visible gold were assayed using the entire sample material with the Photon Assay™ method.
The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng., President and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo, qualified persons under National Instrument 43-101.
Forward-Looking Information This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
The estimate of Inferred Mineral Resources mentioned in this press release conform to National Instrument 43-101 standards and was prepared by Pierre-Luc Richard, P. Geo., independent qualified person, as defined by NI 43-101 guidelines. The effective date of the estimate is July 20, 2022. The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact: Dominique Doucet, P.Eng., President and CEO 450-482-0603 info@sirios.com Website: www.sirios.com
Figures accompanying this announcement are available at:
