MONTREAL, QUEBEC–(Marketwired – Dec. 8, 2014) – Management of SIRIOS (TSX VENTURE:SOI) is pleased to announce the latest results of the diamond drilling program undertaken last October on the CHEECHOO gold property, in the region of the Eleonore gold mine of Goldcorp in James Bay, Quebec. Two separate gold zones were intersected by drill hole #18. The first zone consists of a high grade section of 7.24 g/t Au over 7.9 m who is part of a larger section of 33.5 meters grading 2.02 g/t Au, while the second one graded 1.53 g/t Au over 19.5 meters including a section of 2.04 g/t Au over 8.8 m with the presence of visible gold.
Dominique Doucet, President of SIRIOS said: “As mentioned previously, with each new hole, the project CHEECHOO continues to improve. Drill hole #18 adds sections of several meters in thickness with increasingly high gold grades which are included in intervals in the order of tens of meters now ranging between 1 g/t Au and 2.9 g/t Au. Additional new drill holes will allow us soon to connect with a certain degree of confidence, various already intersected gold zones such as to assess their lateral extents that are potentially of several hundred meters.”
The assays show that while the entire hole #18 is included in a gold envelope of lower grade, his total weighted average grade yielded 0.68 g/t Au over 199 m. Drill holes have already indicated that this gold envelope hosted in the tonalite on CHEECHOO extends over a minimum length of over 1.1 km from southeast to northwest, all inside the property.
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 #18 is located about 150 meters northwest of hole #10 as well as #17 and about 300 meters southeast of hole #16. Drill hole #19, whose assaying results are expected shortly, is located halfway between holes #16 and #18, approximately 150 meters north-west of #18. A drill location map is available at the following link:
The deepening of hole # 17 from 239.6 m to 345.0 m shows anomalous gold content down to the end of the hole with a weighted average of 0.14 g/t Au over 105.4 m including a highest grade of 1.80 g/t Au over 1.2 m.
MAIN ASSAYS RESULTS FROM DRILL HOLE #18 ON CHEECHOO
UTM Nad 83
|Total weighted average of the drill hole||5.0||204.0||199.0||0.68|
|* visible gold|
As the orientation and shape of the gold zones are not yet defined, it is not possible at this time to know the true widths of the mineralized sections. Only systematic drilling will define the orientation, shape and continuity of the different gold zones.
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 holes #17 and #18, two hundred fifty five samples representing 304.4 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