MONTREAL, QUEBEC–(Marketwired – Sept. 10, 2014) – Management of SIRIOS RESOURCES (TSX VENTURE:SOI) is pleased to announce the results of the diamond drilling campaign undertaken on May and June on the CHEECHOO gold property. Drill holes #17 and #16, being 420 metres apart, have intersected a gold mineralized zone grading 6.9 g/t Au over 6.5 m and 26.4 g/t Au over 0.6 m, with the presence of visible gold in both holes. This zone had been previously intersected at about fifty metres southeast of the hole #17 by drill hole #10 with a grade of 4.1 g/t Au over 5.6 m and also, with the presence of visible gold.
This new gold zone named “JORDI” appears to have a tubular shape with an area of around 400 metres by 450 metres and it remains open in all directions. The zone was also intersected by drill hole #09 of 2013 grading at 0.6 g/t Au over 6.9 m as well as by drill hole #13 of 2014 with 0.8 g/t Au over 6.6 m. The thickness and the average grade of this gold zone as well as its continuity and extent will only be determined with precision with additional drill holes.
In addition to the JORDI zone, the five NQ drill holes of the campaign, totalizing 1036 metres, intersected gold zones of lower grade with thickness ranging from tens to hundreds of metres (table below) that are similar to those obtained in previous campaigns. The drill hole #15 which ended at 70 metres, due to technical reasons, has intersected the beginning of a gold zone of 1.16 g/t Au on its last 9 metres. This zone which remains open in depth, reveals that the gold envelope in tonalite extend now to a minimum length of more than 1.1 km from south-east to the north-west, inside the property. Also, the lone existing vertical drill hole (#17) confirmed that this gold envelope is still present at more than 220 metres vertical depth. A drill holes’ location map is available at the following link :
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Dominique Doucet, the President of SIRIOS, stated, “After every new drill hole, the CHEECHOO project continues to improve. With the discovery of the JORDI zone, we demonstrate the presence of at least one high-grade gold zone that is significantly greater than the average grade of the gold envelope in tonalite which is, now, measured in kilometres. While continuing to outline very large low-grade gold zones, we are confident that in the upcoming drilling campaigns, additional zones of gold enrichment will be localized as our understanding of the structural geology of the property increases.”
JORDI ZONE DIAMOND DRILL HOLES’ ASSAYS RESULTS
| Drill hole # CH-919- |
Collar Position UTM Nad 83 |
Azimuth (Degrees) |
Plunge | From (m) |
To (m) |
Interval (m) |
Au (g/t) |
|
| 13-09 | 438352E 5830237N | 270 | 45 | 138.2 | 145.1 | 6.9 | 0.61 | |
| 13-10 | 438615E 5830263N | 235 | 45 | 213.4 | 219.0 | (pp) 5.6 | 4.10 | |
| incl. | 216.3 | 216.8 | 0.5 | *28.00 | ||||
| 14-13 | 438252E 5830248N | 270 | 45 | 68.0 | 74.6 | 6.6 | 0.81 | |
| 14-16 | 438127E 5830455N | 55 | 45 | 151.8 | 152.4 | 0.6 | *26.4 | |
| 14-17 | 438470E 5830209N | N/A | 90 | 137.5 | 144.0 | 6.5 | 6.91 | |
| incl. | 142.0 | 143.1 | 1.1 | *21.5 | ||||
pp: Published previously *: Visible gold
CHEECHOO 2014 DIAMOND DRILL HOLES’ MAIN ASSAYS RESULTS
| Drill hole # CH-919-14- |
Collar Position UTM Nad 83 |
Azimuth (Degrees) |
Plunge | From (m) |
To (m) |
Interval (m) |
Au (g/t) |
|
| 13 | 438252E 5830248 N | 270 | 45 | 63.0 | 74.6 | 11.6 | 0.57 | |
| JORDI Zone | incl. | 68.0 | 74.6 | 6.6 | 0.81 | |||
| 92.9 | 95.0 | (pp) 2.1 | 1.27 | |||||
| 131.0 | 148.0 | 17.0 | 0.42 | |||||
| 152.0 | 161.0 | 9.0 | 0.47 | |||||
| 240.3 | 242.4 | 2.1 | 1.38 | |||||
| 14 | 438175E 5830729N | 235 | 45 | 215.0 | 237.5 | (pp) 22.5 | 0.40 | |
| 15 | 437843E 5830682N | 55 | 45 | 63.0 | 72.0 | 9.0 | 1.16 | |
| 16 | 438127E 5830455N | 55 | 45 | 19.5 | 34.50 | 15.0 | 0.50 | |
| incl. | 30.0 | 34.50 | 4,.0 | 1.09 | ||||
| 62.0 | 89.0 | 27.0 | 0.81 | |||||
| JORDI Zone | 151.8 | 152.4 | 0.60 | *26.40 | ||||
| 201.5 | 203.0 | 1.50 | 3.18 | |||||
| 17 | 438470E 5830209N | N/A | 90 | 1.2 | 127.0 | 125.8 | 0.33 | |
| JORDI Zone | 137.5 | 144.0 | 6.5 | 6.91 | ||||
| incl. | 142.0 | 143.1 | 1.1 | *21.50 | ||||
| 188.0 | 206.0 | 18.0 | 1.11 | |||||
| incl. | 202.0 | 202.5 | 0.5 | *23.80 | ||||
| 222.5 | 224.0 | 1.5 | 2.20 |
pp: Published previously *: Visible gold
The Cheechoo gold project is situated at James Bay, Quebec, at 800 km north of Montreal and at less than 10 km from the Éléonore gold mine of the producer Goldcorp which the beginning of the production is planned at the end of 2014. This world-class deposit contains 4.03 million ounces of proven and probable gold mineral reserves and 4.10 million ounces of inferred gold mineral resources (Source: Goldcorp’s press release, March 28, 2014). Sirios concluded in 2012 an agreement with Golden Valley Mines Ltd involving the Cheechoo property that, upon completion of certain obligations and counterparties, will increase its current interest from 45% to 100% (Press release December 9, 2013). Sirios is the operator of the project.
Assaying Quality Control
A total of 672 drill core samples representing 813 metres of NQ-calibre drill cores were collected, sawed in half, with one half sent to a commercial laboratory for analysis and other half retained for future reference. A strict QA/QC program was followed by integrating blanks and certified reference materials to the drill core samples, all of which were prepared by IOS Services Géoscientifiques inc. of Chicoutimi, and assayed for gold by fire assay and atomic absorption finish (AA23 or AA24) by the ALS Minerals laboratories in Val d’Or, Quebec. Assays on the highest grades were duplicated in the laboratory. Samples grading more than 10 g/t were re-assayed by fire assay with gravimetric finish. These samples along with the ones with visible gold will be tested for coarse gold.
This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person pursuant to National Instrument 43-101
Statements in the release that are “forward-looking statements” are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.
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.
For more information:
Dominique Doucet, CEO
ddoucet@sirios.com
Phone: 514-510-7961
