Montreal (Quebec) – The management of Sirios Resources Inc. (TSX-V: SOI) is pleased to announce an update on the work currently in progress on its two main projects, the Cheechoo and Aquilon gold properties.
The update of the Cheechoo geological model including the latest drilling results has been completed. The mandate to update the mineral resource estimate will therefore soon be awarded to an engineering firm.
A construction team is currently onsite at the Cheechoo camp to improve the camp infrastructure. These upgrades will increase the accommodation capacity of the camp, thereby allowing to scale-up future exploration and development activities.
Another construction team is also onsite to improve the Cheechoo access road, which will increase the efficiency and speed of logistics for coming exploration and development programs.
Prospecting work will be carried out during the months of June and July 2022 in the area to the east of the 2020 conceptual pit in order to extend the new gold zone which had been intersected in the meta-sedimentary rocks during the summer 2021 drilling campaign (ref. press release of 14/12/2021). The meta-sedimentary rocks surrounding the Cheechoo deposit remain a mostly unexplored geological unit to date and will therefore be targeted as a priority this summer.
Finally, typical samples of the Cheechoo gold mineralization will be taken in order to carry out new metallurgical tests in order to determine the optimal treatment process for the Cheechoo deposit.
A team of geologists from Sirios is currently onsite on the Aquilon property in order to proceed with the complete and standardized description (“relogging”) of Aquilon’s historic drill cores. The information resulting from this relogging program will allow new modeling to be carried out based on the new structural data collected in September 2021. This update of the geological modeling of the Aquilon property represents one of the first stages of a systematic exploration program extending until 2024.
About the Cheechoo Property
The Cheechoo gold property is 100% owned by Sirios and consists of 225 claims covering an area of 118 km2, divided into three non-contiguous blocks. It is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine and is easily accessible by road in all seasons. The project’s latest resource estimate (October 2020) delineated inferred resources of 2.0 million ounces of gold contained in 93.0 million tonnes at 0.65 g/t Au, with significant potential to increase in this resource (BBA, P-L. Richard, P. Geo.; J. Torrealba, P. Eng.; D. Evangelista, P. Eng., NI 43-101 Technical Report, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020).
About the Aquilon property
The Aquilon gold property is 100% owned by Sirios and consists of 140 claims covering an area of 68 km2. It is located in Eeyou Istchee James Bay, Quebec, 10 km south of the Laforge-1 hydroelectric power station and is easily accessible by road in all seasons. To date, 32 gold showings have been discovered on the property. Some drill intersections on the Aquilon project are among the highest grades obtained in Quebec, including 12,906.5 g/t Au over 0.20 m (Lingo showing), 3,527.4 g/t Au over 0.40 m (Moman showing) and 133.67 g/t Au over 0.82 m (Fleur-de-Lys showing) (ref. press releases of 26/06/2008 and 19/01/2011).
The scientific and technical content of this press release has been reviewed and approved by Roger Moar, P.Geo. and Dominique Doucet, P.Eng., both qualified persons under National Instrument 43-101.
A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay in Quebec, Canada, Sirios Resources inc. is focused primarily on its Cheechoo gold discovery while actively exploring the high gold potential of its other properties.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. Forward-looking statements involve risks, uncertainties and other factors that could cause actual events, results, performance, expectations and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, but are not limited to: capital and operating costs that differ materially from estimates; the tentative nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other approvals; uncertainties related to the availability and cost of necessary financing in the future changes in financial markets; inflation; fluctuations in metal prices; delays in project development; other risks relating to the mineral exploration and development industry; and risks disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements contained in this news release are reasonable, readers should not place undue reliance on this information, which speaks only as of the date of this news release, and there can be no assurance that such events will occur or occur within the time periods presented. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.