Montreal, QC – Management of Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) are pleased to announce the results of 7 diamond drill holes that were completed as part of a drilling program aimed at expanding the recently discovered mineralized zone in the metasediments (ref.: Press release 11/08/2022), located 300 meters east of the Cheechoo deposit. The Cheechoo deposit currently contains indicated resources of 1.4 Moz Au as well as inferred resources of 500,000 ounces of gold (BBA, MRE Update for the Cheechoo Project, 07/20/2022). The Cheechoo gold property, 100% owned by Sirios, is located less than 10 km from Newmont’s Éléonore gold mine in Eeyou Istchee Baie-James, Quebec.
Highlights:
- The 7 follow-up drill holes, completed in November 2023, all intersected the targeted mineralized zone (Table 1) with multiple significant gold assays near surface, thus demonstrating the strong continuity of this zone.
- 2 g/t Au over 9.0 metres (hole #301) was intersected 50 metres below the trench, which had previously returned 2.7 g/t Au over 11.0 metres at surface(Trench 2022-B).
- These results define a mineralized zone with a northwest-southeast orientation, extending over 400 metres in length and with an average width of 10 metres (Figure 1). This zone, present at the surface, has been traced to a depth of 100 metres and remains open in all directions.
- The 7 holes intersected the zone outside the conceptual pit limits of the 2022 Mineral Resource Estimate (MRE).
- The Cheechoo metasediment mineralized zone is a new gold zone that was discovered at surface in trenches during the summer of 2022. This zone shares geological characteristics similar to those of the neighboring Éléonore mine, including gold mineralization associated with pyrrhotite and arsenopyrite in meta-greywackes near the boundary between the La Grande and Opinaca geological sub-provinces.
TABLE 1 : SIGNIFICANT RESULTS
| Drill Hole CH23- | From (m) | To (m) | Au (g/t) | Length* (m) | Inside/Outside of MRE Conceptual Pit |
| 269E | 121.0 | 132.5 | 0.85 | 11.5 | Outside |
| 298 | 11.0 | 15.5 | 0.64 | 4.5 | Outside |
| 27.0 | 39.5 | 1.45 | 12.5 | Outside | |
| 81.5 | 86.7 | 0.59 | 5.2 | Outside | |
| 299 | 52.0 | 56.0 | 1.19 | 4.0 | Outside |
| 61.0 | 90.5 | 0.67 | 29.5 | Outside | |
| 301 | 29.0 | 49.5 | 0.74 | 20.5 | Outside |
| 56.5 | 65.5 | 3.18 | 9.0 | Outside | |
| Incl. 56.5 | 57.5 | 16.71 | 1.0 | Outside | |
| 302 | 94.0 | 101.3 | 0.81 | 7.3 | Outside |
| 303 | 91.5 | 114.0 | 0.97 | 22.5 | Outside |
| 121.0 | 128.5 | 1.38 | 7.5 | Outside | |
| 135.5 | 140.1 | 0.69 | 4.6 | Outside | |
| 304 | 20.5 | 27.5 | 0.54 | 7.0 | Outside |
| 38.5 | 63.0 | 0.66 | 24.5 | Outside |
* Length along drill hole. Not necessarily equal to true width.
Intervals greater than 0.35 g/t Au with a maximum of 3 consecutive metres of waste material.
Table of drill holes coordinates is available at: www.sirios.com/bd-coordinates-drilled-20231212
Figure 1: Location of drill holes completed in November 2023 in the metasediments area.
Dominique Doucet, President and CEO of Sirios, stated: “We are very pleased with the results obtained during this drilling program. The fact that all the drilling targeting gold zone has intersected significant gold mineralization represents a remarkable exploration success. In addition, the expansion of this continuous zone in the metasediments shows the potential for resource growth of the Cheechoo deposit beyond the tonalite intrusion. More particularly, this new gold corridor makes it possible to generate very interesting exploration targets towards the northwest, over several hundred metres, or even kilometres.”
Analytical quality control
The complete drilling campaign included nine holes for a total of 1,108 metres. All the drill core was described and sampled by Sirios staff at the Cheechoo exploration camp. The core was split 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. A total of 627 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 analyzed until extinction with the Photon AssayTM method. Five samples with a background levels too high in U/Th to be analyzed by Photon AssayTM were sent to the MSALABS laboratory in Langley, Ontario to be analyzed by fire assay with atomic absorption finish. Whole rock geochemical analysis was also carried out by ICP-MS and ICP-EOS on all samples.
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.
About the Cheechoo Property
The Cheechoo gold property, 100% owned by Sirios, is located in Eeyou Istchee James Bay in Quebec, 200 km east of Wemindji and less than 10 km from the Newmont’s Eleonore gold mine. The project’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.: 12/06/2022 Press Release).
About Sirios
Sirios Resources is a Canadian mining exploration company focused on developing its portfolio of high-potential gold and lithium properties in the Eeyou Istchee James Bay region of Quebec.
Cautionary note regarding 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.