MONTREAL, QUEBEC–(CCNMatthews – May 16, 2007) – Officers of SIRIOS RESOURCES INC. (TSX VENTURE:SOI) are pleased to announce an option agreement with DIOS EXPLORATION INC. (TSX VENTURE:DOS) to explore the OPINACA NORD Property. This property comprises two detailed uranium anomaly clusters as well as one main anomaly cluster for gold in association with arsenic. DIOS shall be granted a 50 % interest in the property for 1.25 M C$ exploration expenditures over 5 years (250,000 $ per year) including a firm 250,000 $ commitment the first year in addition to yearly installments of 25,000 $ (in cash or shares). DIOS shall be operator during the earn-in period and the project shall thereafter be explored under a 50-50 joint venture.
The SIRIOS’ OPINACA NORD Property is located about 30 km east of the Goldcorp Eleonore gold deposit. It is located north of the Sirios-Golden Valley Sharks gold property (part of the Cheechoo project). The property shows repetitive east-west topographic lineaments parallel to a regional structure associated with the Opinaca River. The 300 sq. km property (576 claims) encompasses the Laguiche Basin.
In 2005, SIRIOS carried out a detailed bottom-lake sediment survey that totalled 183 samples analyzed for 59 elements by ICP and/or INAA. That survey outlined two good uranium anomaly clusters (respectively of 5 and 10 sq. km.) and a good gold-arsenic anomaly. The anomalous levels were determined from a regional lake sediment data bank totalling 2,223 samples completed in the same period. A reconnaissance mapping and sampling program targeting gold was completed in 2006. Some additional bottom-lake sediment sampling was also completed in 2006 and results are pending.
The two uranium anomaly clusters represent high points of interest of the OPINACA NORD property for DIOS. Work completed to date by SIRIOS shows that a strong anomaly with many samples in the 40-70 ppm (part per million) range is present in the south of the property. These samples are aligned along the tectonic fabric and possibly indicate a lithological source. They are not scattered along glacial dispersal. A second anomaly is present in the north-western part of the property comprising numerous samples with moderate concentrations aligned along an east-west trend. A Rossing-type high tonnage low-grade uranium model may be considered in such a geological environment with numerous anatexy granites within paragneiss (metasediments) of the Laguiche Basin. It may be investigated by prospecting as the geochemical anomalies suggest in-situ uranium mineralizations.
Regarding the gold anomaly, that area shows the strongest geochemical activity with anomalies of Au (ICP-MS), As, Sb, Se, Ag, Tg, Te, Rh, Bi, Cu, Zn, Be, Y. Although anomalies from these various elements do not coincide nor are the most intense, their general clustering is suggestive of the broad geochemical activity. The relation with the area anomalous in Au (INAA) is not clear, but their contiguity is probably not fortuitous. The intensity and size of this gold-arsenic anomaly is as good as the ones observed on the nearby SIRIOS’ KUKAMES property, but its shape clearly suggests a glacial dispersal and is hosted in a higher metamorphic area. Less mobile arsenic anomalies (than gold) from the latest survey may suggest a close source possibly associated with one of the east-west structures. Other arsenic anomalies are present in the southeast part of the property. They are well located adjacent to the Everton Resources B block, in the possible extent of their Claude and Manuel gold showings.
The SIRIOS-DIOS’ technical team considers that both uranium and gold potential is good on the OPINACA NORD property i.e. lake-sediment anomalies in favourable geological environment. And they may be adequately evaluated through specific exploration effort targeting the anomalous cluster areas. A field program is planned for June.
SIRIOS founded DIOS in 2001, it now holds 1,342,700 shares of DIOS or 4.4% of the shares issued and outstanding. SIRIOS and DIOS share some officers and directors. The option agreement is subject to the approvals of the regulatory authorities and the independent members of each Company’s Board.
This press release was prepared by Dominique Doucet, P. Eng., President of SIRIOS, Qualified Person.
The TSX Venture has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information:
Dominique Doucet, CEO