MONTREAL, QUEBEC–(Marketwire – Oct. 2, 2008) – A correction from source is being issued with respect to the release sent out today at 11h42 AM EDT. In the first paragraph, it should have read “boulders” instead of “erratic blocks”. The corrected version follows.
SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces encouraging results of a short prospecting program that was undertaken this summer on its ESCALE gold property in James Bay, Quebec. An 8 square km area located on the newly acquired claims in 2007 reveal an excellent gold potential in the meta-sedimentary rocks. On twelve chosen samples collected on outcrop areas or on boulders of that area eight show grades varying between 0.1 g/t and 23.8 g/t in gold, and two between 0.35% and 1.1% in zinc. Gold mineralization is found either in banded iron formations mineralized in sulphur (arsenopyrite and pyrrhotine) or in silicified meta-sedimentary rocks with quartz and pyrite veinlettes. Additional prospecting will be undertaken in the next few days in the chosen area.
Eighty-six grab samples were collected during the prospecting campaign. Overall, twenty (23%) showed gold grades higher than 0.1 g/t and averaging 1.8 g/t including four samples grading: 1.4 g/t; 2.5 g/t; 3.3 g/t and 23.8 g/t. The latter is by far the best grade obtained on the property to date and five times greater than the highest grade ever obtained on the project. A rock-saw channel sample completed in the extension of the known Centre-2 showing (up to 2.9 g/t in gold in an arsenopyrite rich meta-sedimentary rock) graded 0.15 g/t in gold over 10 m. Furthermore, three meta-sedimentary rock samples graded respectively 1.08%; 0.35% and 0.26% in zinc.
All rock samples were sent to ALS-Chemex Val D’Or laboratory, using atomic absorption technique for gold and ICP for all other elements. Industry-standard quality controls were applied, including blank, standard and duplicate inserts in the sample series.
Work on the ESCALE property are undertaken by SIRIOS according to the agreement from last July, whereas a private company can acquire 50% interest in the property for exploration expenditures totalling 1.25 M$ over four years, including a firm $150,000 commitment the first year and payments totalling $50,000.
SIRIOS’ ESCALE property is located approximately 75 km south-east from the LG-4 hydro-electric complex and 320 km east of Radisson in James Bay, Quebec. It is comprised of 169 claims covering approximately 90 square km.
This press release was prepared by Dominique Doucet, P. Eng., President of SIRIOS, Qualified Person.
Forward-Looking Statement: This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company’s ability to control or predict and are not to be interpreted as guarantees for future performance. These forward-looking statements could cause actual events or results to differ materially from those anticipated in such forward-looking statements. All forward-looking statements speak only as of the date of this news release and the Company does not undertake any obligation to update or publicly release any revisions to such forward-looking statements to reflect events, circumstances, or changes in expectations after the date hereof. Accordingly, readers should not place undue reliance on such forward-looking statements.
For more information:
Dominique Doucet, CEO