MONTREAL, QUEBEC–(CCNMatthews – Jan. 22, 2007) – Directors of SIRIOS RESOURCES INC. (TSX VENTURE:SOI) are pleased to report the latest rock channel sampling results from the PONTAX property. Two new rock saw channels completed in November 2006 on the discovery outcrop and totaling a length of 30.4 meters returned the following grades :
Channel 11: 115 g/t Ag, 0.70 g/t Au, 0.08% Pb and 0.22% Zn over 7.6 meters(i) including : 315 g/t Ag; 2.2 g/t Au; 0.12 % Pb and 0.36 % Zn over 2.0 m. Channel 12: 34 g/t Ag, 0.08 g/t Au, 0.07% Pb and 0.11% Zn over 7.0 Metres
(i)(It should be noted that 5 cm of highly oxydized and sulphur-rich material similar to the richer zones could not be sampled in channel 11, thus probably lowering the grade.)
These recent results indicate that the silver-gold mineralized zone extends over a minimum 50 meters of strike length and has a width varying between 2 to more than 7.6 meters. The geometrical relationships between the different channels shows that the mineralized zone is open in width to the north and on both sides along strike to the east and west. Furthermore, analysis of the duplicate samples coming from the first set of channels have confirmed the results published in November (ref. November 15, 2006 news release).
Ten other channels totaling a lenght of 97.6 meters and completed in November 2006 are scattered on 5 different outcrops up to 400 meters away from the discovery outcrop. These channels tested the alterations zones located to the east of the showing. During the previous samplings, only a few local assays were obtained. The channels have confirmed these local anomalies as in the following examples : in channel #6, 15.4 g/t Ag and 0.135 g/t Au over 0.7 m and 5.4 g/t Ag, 1.15% Zn over 0,66 m and, in channel #8, 13.3 g/t Ag and 1.39 g/t Au over 1 m. Taking into account the grades observed in the alterations zones of the showing, these results are considered as possible alterations of non-exposed mineralization and, therefore, are encouraging.
All samples were assayed at ALS-Chemex, Val-d’Or. Industry standard quality controls were applied, including blank insert in the sample series. Field work is performed by the personnel of IOS Services Geoscientifiques Inc., Saguenay, Quebec, with the staff of SIRIOS, under the supervision of Rejean Girard, Geo., Qualified Person.
The enlargement of the grid of lines is under progress in order to extend, in the coming weeks, the ground geophysical survey started last fall. The survey had detected a strong IP (Induced Polarization) anomaly of 2.1 kilometers, open on both sides along strike and centered on the showing (ref.: November 20, 2006 Press Release). A first helicopter-borne MAG-VLF (Magnetic-Very Low Frequency Electromagnetic) covering approximately a 130 square km area, begun in December 2006, is being actually completed. In February a second 300 square km MAG-EM helicopter-borne survey will be carried out over all the strike length of the volcanic unit hosting the silver-gold mineralization.
The exploration of the PONTAX property is carried out through a partnership with Dios Exploration Inc. (TSX-V: DOS), a diamond explorer. Under the original 2005 agreement with DIOS, depending on the results, if the project is to focus specifically on gold or metals, SIRIOS has the option to buy back DIOS’ share, by repaying in cash or shares (acquisition and exploration costs at book value) and vice versa, and DIOS keeps a 1% NSR on the claims transferred back to SIRIOS that can be bought back for $1,000,000.
The PONTAX property is located in James Bay, Quebec, some 350 km north of the town of Matagami along the paved road going to the town of Radisson. Three hundred thirty claims (pending) were added to this property totaling more than 1,800 claims covering more than 950 sq. kilometers. SIRIOS is actively exploring the Opinaca gold area, James Bay, Quebec.
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