Sirios obtains up to 40.7 g/t Au over 1.0 m in the last two holes of 2024 and resumes drilling at Cheechoo
January 15 2025 - 8:00AM
Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF)
(“Sirios” or the “Company”) is pleased to announce the results of
the last two drill holes from Phase 1 of its Fall–Winter 2024–25
drilling program targeting depth extensions of gold mineralization
at the Cheechoo project in Eeyou Istchee James Bay, Quebec. As with
the first two drill holes of the program (ref.: press release
12/16/2024), gold mineralization was intercepted in holes #319 and
#320 at the locations anticipated by Sirios' geological team.
Following these results, drilling resumed this week including, in
addition to new holes, the deepening of drill holes #317 and #319
by 100 m and 50 m, respectively.
MAIN RESULTS FROM DRILL HOLES 319 AND
320
DDH CH24- |
From (m) |
To (m) |
Au (g/t) |
Length (m) |
319EOH** : 402.0m |
33.0 |
46.0 |
1.69 |
13.0 |
Incl. 36.8 |
39.8 |
6.26 |
3.0 |
Incl. 38.8 |
39.8 |
*14.94 |
1.0 |
219.1 |
233.5 |
0.76 |
14.4 |
248.0 |
252.4 |
2.88 |
4.4 |
Incl. 249.7 |
251.0 |
*8.81 |
1.3 |
364.8 |
375.0 |
0.89 |
10.2 |
378.9 |
395.4 |
2.16 |
16.5 |
Incl. 390.9 |
393.9 |
9.84 |
3.0 |
Incl. 392.9 |
393.9 |
*26.41 |
1.0 |
320EOH: 683.5m |
232.5 |
266.6 |
0.72 |
34.1 |
371.5 |
389.6 |
1.81 |
18.1 |
Incl. 382.7 |
383.7 |
*20.93 |
1.0 |
406.5 |
441.8 |
1.03 |
35.3 |
Incl. 415.1 |
416.1 |
*19.78 |
1.0 |
501.7 |
504.0 |
3.65 |
2.3 |
|
552.9 |
558.6 |
7.46 |
5.7 |
|
Incl. 554 |
555.0 |
*40.70 |
1.0 |
|
597.5 |
628.0 |
0.69 |
30.5 |
|
665.0 |
683.5 |
0.55 |
18.5 |
Interval lengths are measured along the holes and do not
necessarily equate to true thickness.*Visible
Gold. ** EOH : End Of Hole.
Dominique Doucet, President and CEO of Sirios
Resources, stated: “We are very pleased with the assay results from
this first phase and to resume drilling. As expected, all
four drill holes intersected high-grade gold at depths below the
conceptual pit used to delineate current resources. The
results continue to increase our confidence in the distribution of
gold grade, both in the enriched zones at depth and in the
lower-grade halo. We are confident that the drilling from recent
weeks, as well as the drilling we are about to carry out, will
create additional value for the Cheechoo project by adding
underground mining potential, which has never been evaluated until
now, to the open-pit potential.”
Figure 1: Location of drill holes CH24-317 to CH24-320.
Phase 1 of the Fall–Winter 2024–25 Drilling
Holes #319 and #320 completed phase 1 of the
Fall-Winter 2024-25 program for a total of 1,882 meters. The
deepening of drill hole #317 is ongoing, to be followed by the
drilling of phase 2 targets as well as the deepening of #319.
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. 12/23/2022
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.
Analytical quality controlThe 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
AssayTM 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 AssayTM method. A
whole-rock geochemical analysis was also performed by ICP-MS and
ICP-OES on most of the samples.
The scientific and technical information
contained in this press release has been reviewed and approved by
Dominique Doucet P. Eng., who is a Qualified Person 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/8572b877-b0d1-4006-a92b-072a0cca1e4e
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