Sirios Resources Inc.: Drilling Program Update on Cheechoo Gold
Project, Opinaca Area, James Bay, Quebec
MONTREAL, QUEBEC -- (Marketwire) -- 10/30/12 -- SIRIOS RESOURCES INC.
("Sirios") (TSX VENTURE:SOI) announces that the drilling completed
until now on the Cheechoo gold project has intersected the type of
rock that is sought, which is a silicified intrusive (tonalite) rock,
mineralized with trace amounts of sulfides (arsenopyrite,
pyrrhotite). Three drill holes have been completed so far, totaling
428 metres; the fourth hole is currently being drilled. Fieldwork is
progressing as planned despite a delay to the drilling program due to
The data interpretation from the induced polarization survey, which
was recently completed, generated more than a dozen geophysical
targets. These targets are currently being studied alongside of
geological observations and geochemical data in order to generate the
best drilling targets.
Two main metallogenic models are used for the exploration work on
Cheechoo; first, a Reduced Intrusion-Related model, and second, an
atypical gold deposit in meta-sedimentary rocks model of the Eleonore
type, like the future mine of the same name located at less than 15
km of the area currently being drilled by Sirios. The first model
consists of deposits that are high in tonnage with relatively low
gold grades, whereas the second model has high gold grades.
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). The project is adjacent to the east of the
property on which the Eleonore gold mine is being built by Les Mines
Opinaca Ltd., a subsidiary of Goldcorp Inc. This future gold mine has
an expected annual production of around 600,000 ounces of gold, over
a period of around 15 years beginning in 2014.
This press release was prepared by Dominique Doucet, P. Eng.,
President of Sirios, Qualified Person pursuant to National Instrument
Statements in the release that are "forward-looking statements" are
d 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.
(514) 510-7964 (FAX)
(514) 510-7964 (FAX)
Press spacebar to pause and continue. Press esc to stop.