NEWS RELEASE TRANSMITTED BY CCN NEWSWIRE
FOR: SIRIOS RESOURCES INC.
CDNX SYMBOL: SOI
NOVEMBER 6, 2001 – 10:47 EST
SIRIOS’ Shareholders Approve the Creation of DIOS, a
Diamond Exploration Company
MONTREAL, QUEBEC, CANADA–Shareholders of SIRIOS RESOURCES INC.
gave their approval for the creation of DIOS EXPLORATION INC., a
diamond exploration company, during the Annual Meeting of SIRIOS
held on October 30. SIRIOS keeps its gold, copper and zinc assets
whereas its diamond assets are transferred to DIOS.
SIRIOS and DIOS were granted a preliminary prospectus receipt.
Canaccord Capital Corporation did sign the prospectus dated
October 19, 2001. The offering consists among other things in the
issuance of a minimum of 400 A units at $1,000 (comprising 80%
flow through shares of DIOS and SIRIOS). The proceeds shall be
used to carry out exploration work on two properties of SIRIOS,
the Porphyry Copper-Molybdenum TILLY project and the near-Matagami
zinc project under option from SOQUEM, where was recently
discovered a 5 meters thick zinc-bearing chert, similar to the
Matagami key tuffite, hosting the mining camp deposits, as well as
on the 33 CARATS property of DIOS, a diamond project NW of the
Otish Mountains, Quebec.
The 33 CARATS project comprises some one thousand mining claims
covering approximately 50,560 hectares (505 sq. kilometers) in
four blocks. They are located along intra-cratonic structures and
bordering the joint SOQUEM-Ashton Mining project, where the
discovery of two kimberlitic intrusives was released this fall,
and the joint Majescor-BHP World Exploration project. The four
DIOS properties are located at an average of 30 km from the core
of the Ashton-Soquem and BHP-Majescor projects. Taking into
account that typical kimberlitic clusters vary from10 to 40 km in
diameter, the DIOS properties could be located in the probable
zone that could host a kimberlitic intrusive from the same
cluster, says Rejean Girard, geologist, IOS Geoscientific
Services. Kimberlitic rocks are hosting most diamond mines
worldwide.
DIOS also holds a project covering 58 sq. kilometers in the
WEMINDJI area, Quebec, known for its diamond bearing potential.
DIOS has also the SCHOLFIELD project, Ontario, where SIRIOS
discovered diamond indicator mineral trains within the till
(01/03/08 press release), in association with a very strong
indicator mineral anomaly within alluvials (very high G10/G9
ratio). An airborne magnetic survey helped delineate kimberlitic
targets at the train apex. Furthermore, DIOS has other diamond
data bases and assets.
One of the most active mining exploration companies in Quebec,
SIRIOS, granted Prospector of the Year by the QPA, is a very
dynamic junior with some 20,592,474 Common Shares issued and
outstanding, trading on CDNX under SOI. DIOS has 2.6 million
shares outstanding.
For more information:
Dominique Doucet, CEO
ddoucet@sirios.com
Phone: 514-510-7961
