From the Wires
Sirios Resources Inc.: Positive Preliminary Drilling Results From Cheechoo Gold Project, Opinaca Area, James Bay, Quebec
By: Marketwired .
Dec. 11, 2012 08:49 AM
MONTREAL, QUEBEC -- (Marketwire) -- 12/11/12 -- Directors of SIRIOS RESOURCES INC. ("Sirios") (TSX VENTURE:SOI) are pleased to announce the preliminary core assay results from the drilling program recently completed on the Cheechoo gold project. Until now, only 12 samples from drill hole #1 were analyzed and yielded an average gold grade of 0.645 g/t over 12.4 metres. Grades vary from 0.154 g/t Au to 1.8 g/t Au for samples whose length is between 0.9 and 1.2 metres. Of all these results, three values yielded greater than 1 g/t : 1.03 g/t Au over 1.1 m; 1.73 g/t Au over 1 m; and 1.80 g/t Au over 1.2 m. The host rock of the gold mineralization consists of a silicified felsic intrusive (tonalite) rock, containing low quantities of finely disseminated sulfides (arsenopyrite, pyrrhotite). This type of mineralization, known as the Reduced Intrusion-Related model, is exactly the metallogenic model targeted by Sirios.
A total of eight diamond drill holes of NQ caliber were completed for a total of 938 metres. Until now, another 80 samples from hole #2 were received at the ALS Chemex laboratory in Val-d'Or for assaying. Hundreds of core samples are currently being prepared to be sent for assaying.
Dominique Doucet, President of Sirios, stated: "These first results are very promising because based on their metallogenic characteristics they confirm that the Cheechoo property has a strong potential for a low grade and high tonnage gold discovery. Since the number of samples assayed is currently low, it is too early to assess the magnitude of our discovery, but it is very encouraging to obtain such results in the very first samples."
The completed drilling program on the Cheechoo project is located at less than 15 km from the future Eleonore gold mine currently under construction by a subsidiary of producer Goldcorp and is at the apex of the gold soil dispersal train discovered on the adjacent joint-venture property owned by Goldcorp-Azimut-Eastmain (Eastmain Resources press release of September 21, 2010).
As announced last summer, Sirios has signed an agreement with Golden Valley Mines Ltd. (TSX VENTURE:GZZ) for the Sharks and Cheechoo gold properties ("Cheechoo gold project"), allowing Sirios to increase its current interest in the project from 40% to 100% following the completion of certain obligations and compensation (see our June 15, 2012 press release).
This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person pursuant to National Instrument 43-101.
Statements in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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