The Cheechoo gold project is located in the Eeyou Istchee James Bay region of Quebec, less than 15 km from Newmont’s Éléonore gold mine, which began its production in 2015.
The property consists of a main block of 121 claims as well as a secondary block of 35 claims located about 20 km to the west. These 156 claims totaling 81 km2, are fully owned by Sirios (with a royalty to Golden Valley Mines Ltd. ranging from 2.5% to 4% based on gold price on 145 claims).
The Cheechoo project is located approximately 800 km north of Montreal and 200 km east of the Wemindji Cree community.
The property straddles the suture zone between the Opinaca meta-sedimentary subprovince and the La Grande volcano-plutonic province. It is composed of both granitoids typical of the La Grande sub-province and metatexites typical of the Opinaca sub-province. The geology of the property consists of tonalite, meta-wacke, paragneiss, granite and pegmatite.
The gold mineralization is primarily hosted in a silicified and albite rich tonalite, with the presence of parallel or stockwork-type centimetric quartz veins or veinlets. It includes a very low sulfide content (<1%, pyrrhotite-arsenopyrite-pyrite) along with variable amounts of amphibole, biotite, chlorite, diopside, tourmaline and scheelite. Most of the gold occurs as free coarse grains. These overall characteristics are typical of Reduced Intrusion Related Gold Systems.
For more information, please consult the scientific article published by the Geological Survey of Canada in 2018 on the Cheechoo property.
The first resource estimation conducted on the property (Dec. 2019), based on an open-pit constrained model, resulted in:
- Inferred resources containing 1.6 million ounces of gold (Moz), from 71.0 million tonnes (Mt) at an average grade of 0.69 grams of gold per tonne (g/t Au);
- Significant upside for expanding the maiden mineral resources with the potential to add an additional 25% more ounces that have been outlined on the Cheechoo property but require an agreement with the neighbouring property to access this material.
This data comes from the resource estimate (BBA Inc., Pierre-Luc Richard, geo.) whose results have been published in the December 11, 2019 press release.