Sirios intersects up to 79.7 g/t Au over 1.4 m in the two first drill holes of Fall 2024 at Cheechoo
December 16 2024 - 8:00AM
Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) (“Sirios” or the
“Company”) is pleased to announce the results from the two first
drill holes of the Phase 1 of its Fall-Winter 2024-25 Drilling
Program on the Cheechoo gold project in Eeyou Istchee James Bay,
Québec.
The two drill holes intercepted gold mineralization exactly at
the locations anticipated by Sirios' geological team. These results
help validate the new interpretation of the Cheechoo deposit, which
reinforces the potential for high-grade zones, paving the way for
possible development combining open-pit and underground
mining.
DRILL HOLES 317, 318 MAIN ASSAY
RESULTS
DDH CH24- |
From (m) |
To (m) |
Au (g/t) |
Length (m) |
317EOH** : 397.8m |
82.9 |
87.2 |
3.19 |
4.3 |
Incl. 86.2 |
87.2 |
*12.73 |
1.0 |
91.3 |
92.3 |
*12.31 |
1.0 |
127.3 |
128.3 |
*2.82 |
1.0 |
166.8 |
167.8 |
*3.25 |
1.0 |
177.5 |
179.5 |
*1.34 |
2.0 |
188.5 |
189.5 |
*10.58 |
1.0 |
319.1 |
320.4 |
8.03 |
1.3 |
330.8 |
334.5 |
5.10 |
3.7 |
Incl. 330.8 |
331.8 |
*17.32 |
1.0 |
355.9 |
367.5 |
10.06 |
11.6 |
Incl. 356.9 |
358.3 |
*79.71 |
1.4 |
318EOH: 399.0m |
93.9 |
129.2 |
0.83 |
35.3 |
Incl. 108.5 |
114.5 |
1.53 |
6.0 |
Incl. 127.2 |
129.2 |
*2.55 |
2.0 |
183.9 |
195.5 |
2.83 |
11.6 |
Incl. 187.7 |
188.7 |
*22.55 |
1.0 |
327.0 |
328.0 |
*52.70 |
1.0 |
Interval lengths are measured along the holes and do not
necessarily equate to true thickness.*Visible
Gold. ** EOH : End Of Hole.
Figure 1: Location of drill holes CH24-317 to CH24-320.
Phase 1 of the Fall-Winter 2024-25 Drilling
Sirios has completed drilling of the 4 holes constituting phase
1 of the Fall-Winter 2024-25 program for a total of 1,882 meters.
Core samples from holes #319 and 320 are currently being
analyzed.
Strategic Objectives
The primary objectives of this drill program are to:
- Gather data to support an
upcoming Mineral Resource Estimate (MRE)
update;
- Test high-priority
targets identified during the comprehensive data review
conducted by Sirios during the summer of 2024.
Cheechoo’s High-Grade Zones
The Cheechoo gold deposit is hosted in a tonalite intrusion
characterized by multiple gold-enriched zones
encased in a lower-grade halo. In addition to the
Eclipse zone. numerous high-grade intervals
throughout the deposit suggest the occurrence of additional
high-grade zones. These zones may be found both within and beyond
the boundaries of the 2022 Mineral Resource Estimate
(MRE) conceptual pit.
About the Cheechoo Property
Located less than 15 km from Newmont's Éléonore
gold mine in the Eeyou Istchee James Bay territory of Québec. the
Cheechoo property. 100% owned by Sirios. contains an
untapped gold deposit with excellent expansion and
development potential.
The most recent mineral resource estimate (MRE)
reported. for an open-pit model. using a USD 1.650 gold price:
- Indicated
resources: 1.4 million ounces at an average grade
of 0.94 g/t Au;
- Inferred
resources: 500.000 ounces at an average grade of
0.73 g/t Au.Source: BBA. Mineral Resource Estimate
Update for the Cheechoo Project. 23/12/2022
Underground mining scenarios have not
been evaluated in the 2022 MRE.
Learn more about Cheechoo at
sirios.com/en/cheechoo
Qualified Person Statement and NI 43-101
Disclosure
The Mineral Resource Estimate mentioned in this
press release conforms 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.
The scientific and technical information
contained in this press release has been reviewed and approved by
Guillaume Doucet. P.Geo. and Alexandra Blanchette. P.Geo.. who are
Qualified Persons as defined by National Instrument 43-101.
About Sirios
Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF)
is a Quebec-based mineral exploration company focused on developing
its 100%-owned Cheechoo gold property. located in Eeyou Istchee
James Bay. Canada.
For more information. please contact:
Dominique Doucet.
CEO450-482-0603info@sirios.comwww.sirios.com
Cautionary note regarding
forward-looking statements
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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e079b39d-da96-4559-9298-7b3dc88c0abc
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