MONTREAL, QUEBEC–(Marketwired – Jan. 27, 2015) – Management of SIRIOS (TSX VENTURE:SOI) is pleased to announce the results from the last diamond drill hole undertaken in fall 2014 on the CHEECHOO gold property, in the region of the Eleonore gold mine of Goldcorp in James Bay, Quebec. Two distinct gold zones were intersected by drill hole #19. The first zone consists of a section of 12.9 m at 1.16 g/t Au including an interval of 3.0 m grading 3.22 g/t Au, while the second one graded 0.73 g/t Au over 31.3 m comprising a section of 2.01 g/t Au over 4.2 m.
The drill hole #19 indicates the gold zones intersected in the drill holes #10, 17, 18 and 16 seem to extend on more than 450 metres on strike from south-east to north-west and they remain open in every direction as well as in depth. Given that the large spacing of around 150 metres between drill holes, only additional drill holes will allow to identify the extent, the continuity and the orientation of these zones. These are included in a large low grade gold envelope extending to a minimal length of more than 1.1 km inside the property.
Metallurgical tests to evaluate the gold recovery will be undertaken shortly on three composite samples of drill core representing three distinct gold zones of low, medium and high grade.
MAIN ASSAYS RESULTS FROM DRILL HOLE #19 ON CHEECHOO
UTM Nad 83
|Total weighted average of the drill hole||12.0||213.0||201.0||0.44|
Due to the orientation and the shape of the gold zones are not yet defined, it is not possible at the moment to determine the true widths of the mineralized sections. Only systematic drilling will establish the orientation, the shape and the continuity of the different gold zones.
The drilling program completed in October included two new diamond drill holes (#18 and #19) in addition to the deepening of vertical drill hole #17 for a total of 522 meters. Drill hole #19 is located between the drill holes #16 and #18, which is around 150 metres north-west of #18 and 150 metres south-east of #16. A map of localisation of the drill holes is available at the following link :
The CHEECHOO gold project is located in James Bay, Quebec, 800 km north of Montreal and less than 10 km from the Eleonore gold mine of the producer Goldcorp that has just begun production. This world-class deposit contained 4.03 million ounces of gold and 4.10 million ounces of inferred gold mineral resources (Source: Press release of Goldcorp, March 28 2014). In 2012, Sirios concluded an agreement with Golden Valley Ltd. regarding ownership CHEECHOO allowing it, to upon completion of certain obligations and counterparties, increase its current interest from 45% to 100% (press release dated December 9, 2013). Sirios is the manager of the project.
For drill hole #19, one hundred eighty nine samples representing 201 meters of NQ drill core 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 (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.
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