MONTREAL, CANADA–(CCNMatthews – Nov. 9, 2006) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces that its partner Golden Valley Mines Ltd. (TSX VENTURE:GZZ) has completed the Phase II of the 2006 fieldwork program on SIRIOS’ CHEECHOO and SHARKS properties. These two properties are located west and east of the Goldcorp Inc. “Roberto” gold discovery located in James Bay, Quebec.
Three main mineralized corridors have been identified from the current prospecting, mapping, and sampling program completed:
– Cheechoo B Southwest: The main mineralized zone is located in the SW corner of the main Cheechoo B property and consists of 4 mineralized areas (pyrite, arsenopyrite, pyrrhotite, chalcopyrite, sphalerite) located astride a major NW-SE trending regional scale lineament interpreted to extend from the Roberto gold deposit to the NW and associated with coincidental airborne electromagnetic-magnetic (AEM) anomalies and linear magnetic feature (outlined in the GZZ 2005 AEM survey). Mineralized bedrock and and boulders extend intermittently along 3.5 km of strike length.
– Sharks Northwest: Prospecting was concentrated in the area adjacent to and east of the property boundary with by Everton Resources along the projected trend of occurrences described by Everton as the “Inex Zone & Inex Zone Extension”. Several well mineralized outcrop areas were identified. Mineralization is comprised of 5-10% sulphide content (arsenopyrite-pyrrhotite-pyrite-chalcopyrite +/- galena) hosted within a hematitic brecciated unit within a silicified and biotite-rich facies of paragneiss.
– Cheechoo South Central: Field crews identified a mineralized structural corridor apparently on strike ESE with Everton Resources “Manuel Zone” (or possibly a parallel mineralized zone) associated with coincidental AEM anomalies and linear magnetic feature (outlined in the GZZ 2005 AEM survey). Several occurences have been outlined across two separate trends intermittently over 1 km and 800 metre strike lengths. The mineral occurences are hosted within silicified, biotite-rich and/or hematized paragneiss. Mineralization consists of pyrite-pyrrhotite, chalcopyrite, molybdenum, arsenopyrite and magnetite.
A total of 452 rock and channel samples were collected over the Cheechoo and Sharks properties during the course of the Phase II field program. All samples have now been submitted to the laboratory for analysis and will be reported on once compiled and interpreted.
The objective of the program was to complete detailed geological mapping, prospecting and sampling work over seven priority target areas, based on encouraging results obtained in 2005 (AEM survey, rock sampling, lake sediment survey and data compilation).
The exploration program was subsequently expanded to include additional follow-up work over the Cheechoo “A” block based on favourable geophysical and rock sampling results obtained from the Phase I program (News Release: August 23, 2006) where detailed grid mapping and ground-based geophysical surveys conducted over the summer identified a well-developed and mineralized shear zone.
Prospective targets identified in the airborne geophysical data and/or anomalous gold rock samples outlined or identified during the 2005 and 2006 Phase 1 program, were the primary focus of the phase II fieldwork. Detailed prospecting, utilizing a “beep mat” geophysical device where applicable, geological mapping and sampling were conducted over the selected priority target areas. Hand stripping and trenching were completed on well-developed mineralized structural zones to obtain fresh, representative and selective alteration/mineral zonation samples. Additional ground follow-up is planned to define possible drillhole collar locations.
SIRIOS owns the CHEECHOO and SHARKS properties where Golden Valley may earn an initial 60% interest by incurring exploration expenditures of $1,000,000 over 4 years on each property respectively and may increase its interest by 20% by completing a Bankable Feasibility Study. Please refer to the December 3 and 16, 2004 press releases for additional information.
SIRIOS owns the largest area of mining rights in the vicinity of the Goldcorp’s Eleonore gold deposit in James Bay, Quebec. In addition to the CHEECHOO and SHARKS properties, covering 300 square km, SIRIOS wholly owns more than 3,000 claims forming the PONTAX, KUKAMES and OPINACA NORD properties, which are covering more than 1,500 square km in the Eleonore area.
This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information:
Dominique Doucet, CEO