MONTREAL, Dec. 16, 2024 (GLOBE NEWSWIRE) — Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) (“Sirios” or the “Company”) is pleased to announce the results from the two first drill holes of the Phase 1 of its Fall-Winter 2024-25 Drilling Program on the Cheechoo gold project in Eeyou Istchee James Bay, Québec.
The two drill holes intercepted gold mineralization exactly at the locations anticipated by Sirios’ geological team. These results help validate the new interpretation of the Cheechoo deposit, which reinforces the potential for high-grade zones, paving the way for possible development combining open-pit and underground mining.
DRILL HOLES 317, 318 MAIN ASSAY RESULTS
| DDH CH24- | From (m) | To (m) | Au (g/t) | Length (m) |
| 317 EOH** : 397.8m |
82.9 | 87.2 | 3.19 | 4.3 |
| Incl. 86.2 | 87.2 | *12.73 | 1.0 | |
| 91.3 | 92.3 | *12.31 | 1.0 | |
| 127.3 | 128.3 | *2.82 | 1.0 | |
| 166.8 | 167.8 | *3.25 | 1.0 | |
| 177.5 | 179.5 | *1.34 | 2.0 | |
| 188.5 | 189.5 | *10.58 | 1.0 | |
| 319.1 | 320.4 | 8.03 | 1.3 | |
| 330.8 | 334.5 | 5.10 | 3.7 | |
| Incl. 330.8 | 331.8 | *17.32 | 1.0 | |
| 355.9 | 367.5 | 10.06 | 11.6 | |
| Incl. 356.9 | 358.3 | *79.71 | 1.4 | |
| 318 EOH: 399.0m |
93.9 | 129.2 | 0.83 | 35.3 |
| Incl. 108.5 | 114.5 | 1.53 | 6.0 | |
| Incl. 127.2 | 129.2 | *2.55 | 2.0 | |
| 183.9 | 195.5 | 2.83 | 11.6 | |
| Incl. 187.7 | 188.7 | *22.55 | 1.0 | |
| 327.0 | 328.0 | *52.70 | 1.0 |
Interval lengths are measured along the holes and do not necessarily equate to true thickness.
*Visible Gold. ** EOH : End Of Hole.
Figure 1: Location of drill holes CH24-317 to CH24-320.
Phase 1 of the Fall-Winter 2024-25 Drilling
Sirios has completed drilling of the 4 holes constituting phase 1 of the Fall-Winter 2024-25 program for a total of 1,882 meters. Core samples from holes #319 and 320 are currently being analyzed.
Strategic Objectives
The primary objectives of this drill program are to:
- Gather data to support an upcoming Mineral Resource Estimate (MRE) update;
- Test high-priority targets identified during the comprehensive data review conducted by Sirios during the summer of 2024.
Cheechoo’s High-Grade Zones
The Cheechoo gold deposit is hosted in a tonalite intrusion characterized by multiple gold-enriched zones encased in a lower-grade halo. In addition to the Eclipse zone. numerous high-grade intervals throughout the deposit suggest the occurrence of additional high-grade zones. These zones may be found both within and beyond the boundaries of the 2022 Mineral Resource Estimate (MRE) conceptual pit.
About the Cheechoo Property
Located less than 15 km from Newmont’s Éléonore gold mine in the Eeyou Istchee James Bay territory of Québec. the Cheechoo property. 100% owned by Sirios. contains an untapped gold deposit with excellent expansion and development potential.
The most recent mineral resource estimate (MRE) reported. for an open-pit model. using a USD 1.650 gold price:
- Indicated resources: 1.4 million ounces at an average grade of 0.94 g/t Au;
- Inferred resources: 500.000 ounces at an average grade of 0.73 g/t Au.
Source: BBA. Mineral Resource Estimate Update for the Cheechoo Project. 23/12/2022
Underground mining scenarios have not been evaluated in the 2022 MRE.
Learn more about Cheechoo at sirios.com/en/cheechoo
Qualified Person Statement and NI 43-101 Disclosure
The Mineral Resource Estimate mentioned in this press release conforms 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.
The scientific and technical information contained in this press release has been reviewed and approved by Guillaume Doucet. P.Geo. and Alexandra Blanchette. P.Geo.. who are Qualified Persons as defined by National Instrument 43-101.
About Sirios
Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) is a Quebec-based mineral exploration company focused on developing its 100%-owned Cheechoo gold property. located in Eeyou Istchee James Bay. Canada.
For more information. please contact:
Dominique Doucet. CEO
450-482-0603
[email protected]
www.sirios.com
Cautionary note regarding forward-looking statements
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e079b39d-da96-4559-9298-7b3dc88c0abc
