MONTREAL (QUEBEC) – Management of Sirios Resources Inc. (TSX-V: SOI) announce that its validation testing of the PhotonAssayTM* gold assay technology has been successfully completed. As previously announced (ref.: press release dated 06/12/2023), some one hundred core samples from selected sections of previous drilling at the Cheechoo gold deposit were sent to MSALABS laboratories in Val-d’Or in order to evaluate this new assay technique. Based on these results, core samples taken during the recent 2023 drilling campaign will be analyzed using this technology, which has among other things, a lower environmental impact than other commonly used analytical techniques.
Dominique Doucet, President of Sirios, commented: “We are very proud to be using this new technology which has just been introduced in Quebec. Since analyses will be performed on a standard quantity of approximately 500 grams of material, instead of the usual 50 grams used for fire assay, we believe it will be more appropriate for analysing samples containing coarse free gold (resulting in the nugget effect). In addition, since PhotonAssayTM* analysis is non-destructive, it will allow the sample to be used in the future for other tests, if required. Finally, the time required to receive our analytical results should be shorter.”
About Cheechoo Property
Sirios’ 100% owned Cheechoo property is in the Eeyou Istchee James Bay region of Quebec, approximately 800 km north of Montreal, 200 km east of Wemindji and less than 10 km from Newmont’s Eleonore gold mine.
The last update of the mineral resource estimate for Cheechoo, based on an open pit constrained model, includes an indicated resource of 1.4 million ounces of gold contained in 46.3 million tonnes at an average grade of 0.94 g/t Au, and an inferred resource of 0.5 million ounces of gold contained in 21.1 million tonnes at an average grade of 0.73 g/t Au with significant potential for increasing these resources (BBA, PLR Resources, P-L. Richard, P. Geo.; D. Evangelista, P. Eng., K. Ford NI 43-101 Technical Report, Mineral Resource Estimate Update for the Cheechoo Project, 23/12/2022, ref.: press release dated 12/06/2022).
Sirios Resources is a Canadian-based mining exploration company focused on developing its portfolio of high-potential gold and lithium properties in the Eeyou Istchee James Bay region of Quebec.
*PhotonAssay is a registered trademark of the Australian corporation Chrysos. The method used at the MSALABS laboratory in Val-d’Or is ISO 17025 certified.
Cautionary note regarding forward-looking information
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
The estimate of Inferred Mineral Resources mentioned in this press release conform to National Instrument 43-101 standards and was prepared by Pierre-Luc Richard, P. Geo., independent qualified person, as defined by NI 43-101 guidelines. The effective date of the estimate is July 20, 2022. The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.