MONTREAL, QUEBEC–(CCNMatthews – June 1, 2007) – The following document corrects and replaces the release sent earlier today at 12:56 PM EST. The complete corrected version follows.
The directors of SIRIOS RESOURCES INC. (TSX:VENTURE:SOI) are pleased to announce the first results obtained during its drilling campaign on the PONTAX silver property in James Bay, Quebec. Even though these results are still preliminary, SIRIOS officers consider them quite significant.
Holes 1 and 2, drilled directly under the showing (discovery outcrop; ref.: November 15, 2006; January 22nd 2007 press releases) located on L12E(i), have returned the following grades:
Hole #1: 130g/t Ag over 5 m.(ii), including 272 g/t Ag over 2 meters.
Hole #2 (located under #1): 283 g/t Ag over 3.5 m. including 846 g/t Ag over 1 meter.
Hole #5 (L11E located at 100 m. SW of holes 1 and 2) : 6.4 g/t Ag; 1.17% Zn and 0.4% Cu over 3.5 meters; and a second zone: 17.1 g/t Ag and 0.49% Zn over 4 meters.
(i) L12E means Line 12+00 East on the ground localization grid.
(ii) core length, true width is not known
The most recent hole drilled, hole #18 (12+50E), shows the best sulphides mineralization observed up to now. A 2.5 meters section located 100 m. under the surface contains approximately 10% of pyrite, 5% of sphalerite (zinc sulphide) 5% of chalcopyrite (copper sulphide) and 1% of galena (lead sulphide). This section is comprised within a 17 m. mineralized interval with 10% of pyrite and traces of sphalerite and chalcopyrite. These sulphide mineralizations are similar to the ones observed on surface that returned high-grade silver assays. Pictures from this hole are available at:
In order to follow-up on the very encouraging core observation, the helicopter-borne drilling program had been increased to 3,000 meters and is still ongoing. Up to now, 18 drill holes have been completed for a total length of 2,754 m. including 13 holes drilled on the main I.P. (induced polarization) anomaly associated with the discovery outcrop. Each of these 13 holes intersected altered felsic volcanic rocks over minimum widths of several tens of meters. Alterations consist mainly of silicification, sericitization, pyrophyllitization and presence of garnet. The altered zones contain between 5% and 15% pyrite dissemination. Small amounts (under 3%) of sphalerite, chalcopyrite and, in rarer cases, galena have been observed in numerous drill holes distributed over more than 3.4 km from L2E to L36E at the eastern limit of the lines grid. According to SIRIOS geologists, the alteration zones’ size let foresee a large scale system. Finally, three drill holes have intersected the contact between volcanic and sedimentary rocks, with occurrences of disseminated pyrrhotite and arsenopyrite.
Taking into account the abundance of sulphide mineralizations, between 1,000 to 1,500 of 1 to 1.5 meters half-core samples need to be expedited for assaying. Up to date, only 120 samples have been assayed; these samples come from parts of drill holes #1, 2, 5 and 8. It will take many weeks to obtain all assay results.
The half-core samples are assayed at ALS-Chemex, Val-d’Or 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.
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