Sirios Announces Initial Summer 2021 Cheechoo Drill Results and Provides an Operations Update
TSX-V : SOI December 14, 2021
Sirios Announces Initial Summer 2021 Cheechoo Drill Results
and Provides an Operations Update
Montreal, Quebec - The management of Sirios Resources Inc. (TSXV: SOI) is pleased to
announce assay results of the first ten drill holes, totaling 1,888 metres, of the drilling campaign
completed last September on the Cheechoo gold project at Eeyou Istchee James Bay, Quebec
(see figure #1).
Significant drill results are listed below including the following highlights:
4.90 g/t Au over 22.0 m, including 71.69 g/t Au over 1.0 m (CH21-RC-02)
2.36 g/t Au over 22.5 m, including 16.06 g/t Au over 2.5 m (CH21-274)
0.68 g/t Au over 6.5 m, new zone outside the Cheechoo deposit (CH21-269)
In addition to these results, holes CH21-RC-01, RC-02 and -271 to -274 confirmed the continuity
of gold mineralization along the east-northeast edge of the Cheechoo tonalite, at the contact with
the meta-sediments. This data will be useful in the upcoming resource estimate for the Cheechoo
project that is scheduled for 2022 . This updated resource estimate is expected to include the
conversion of a significant amount of Inferred resources to Indicated resources.
Hole CH21-268 demonstrated the presence of gold mineralization to a depth of over 700 metres
along the tonalite/meta -sediment contact, highlighting the potential to expand the deposit at
depth.
Drill hole CH21-269, which ended in gold mineralization, allows to connect, both laterally and at
depth, intercepts previously found in holes -129 and -67. Thus, identifying a new gold bearing
zone in a new geological setting (i.e., mineralization hosted within the meta-sediments), located
outside the limits of the currently defined Cheechoo deposit (s ee Figure #2). This area will
require follow-up in the next drilling program.
Dominique Doucet, President and CEO of Sirios, stated, "I am very pleased with this first batch
of drill results, which let us progress positively toward our goal of an updated mineral resources
estimate."
Figure 1: Location map of drill holes CH21-RC-01, RC-02, 268 to 274 (plan view).
Figure 2: New gold zone in meta-sediments (vertical section striking across interpreted direction of the zone).
SIGNIFICANT DRILL RESULTS FROM THE 10 HOLES RELEASED
Drill Hole CH21- From
(m)
To
(m)
Length*
(m) Au (g/t)
RC-01** 48,0 57,0 9,0 1,50
72,0 76,0 4,0 2,73
RC-02**
91,0 113,0 22,0 4,90
incl. 105,0 113,0 8,0 11,45
incl. 105,0 106,0 1,0 71,69
268
277,9 287,5 9,6 0,69
314,1 333,1 19,0 0,32
381,8 397,7 15,9 1,00
451,8 481,5 29,7 0,30
584,5 587,5 3,0 3,35
640,0 661,5 21,5 0,62
669,0 691,2 22,2 0,63
694,9 710,9 16,0 0,41
269
New Zone
97,0 98,5 1,5 13,36
113,5 120,0 6,5 0,68
271 6,0 29,7 23,7 0,59
272
8,0 11,0 3,0 1,94
21,0 35,5 14,5 0,76
57,5 73,5 16,0 0,64
121,5 130,0 8,5 0,64
273 40,0 80,0 40,0 0,47
274
3,4 6,5 3,1 2,37
86,1 112,0 25,9 0,71
125,4 145,8 20,4 0,67
149,3 161,3 12,0 0,73
165,5 188,0 22,5 2,36
incl. 173,4 175,9 2,5 16,06
* Length of core along hole (not equivalent to true width).
Intervals greater than 0.25 g/t Au with a maximum of 3 consecutive metres of waste rock.
** RC: reverse circulation drilling.
No significant results were obtained from holes #270 (drilled east of the Cheechoo deposit) and
#276 (drilled more than 2.5 km north of the deposit).
A table of drill collar coordinates is available at the following link: www.sirios.com/bd-
coordinates-drilled-20211214.
Update on the progress of the work
The 2021 summer drill program included 34 NQ -size holes, for a total of 6,836 metres. Assay
results for the remaining 24 holes are still pending. Once these results are received (Q2 2022), an
update to the mineral resource estimate will be initiated . The primary objective of this new
mineral resource est imate will be to convert Inferred resources into Indicated resources . This
resource conversion would significantly increase the value of the Cheechoo deposit by increasing
the confidence level in the resource definition. Th e upcoming mineral resource estim ate will
form the basis for a Preliminary Economic Assessment (PEA) of the deposit.
Concurrently, 1-kg re-assays of drill core samples continue to be done in order to properly assess
the grade of the Cheechoo deposit with greater precision (see August 26, 2021 press release ).
More than a thousand samples are currently being analyzed as part of this program.
Furthermore, Groupe Hémisphères, environmental consultants based out of Quebec City , are in
the process of completing an Environmental Baseline Stud y to support the project development
in compliance with the most stringent regulatory requirements.
All of this work is part of the transition that the Cheechoo Project is undergoing, with the focus
moving the project from exploration to development stage.
Assay Quality Control
All NQ drill core are logged by Sirios personnel at the Cheechoo exploration camp. The drill
core is then sent to Rouyn -Noranda to be sawed in half, with one half sent to a commercial
laboratory for assaying and other half kept for future reference. A stri ct QA/QC program is in
place by integrating blanks and certified reference standards to the core sample sequence. The
samples are assayed for gold by fire assay with an atomic absorption finish by Actlabs. Samples
assaying greater than 0.2 g/t Au as well as drill core samples with visible gold are assayed by fire
assay with metallic sieve on a 1 -kg sample. Special certified reference standards (Assay Pills)
were used to ensure adequate quality control of gold assays on 1-kg of material.
Samples from the reverse circulation (RC) drill holes were collected and bagged at an interval of
one sample per metre along the hole by Sirios geologists. A witness sample for each sample was
also collected and kept for future reference at the Cheechoo camp facilities. Sample preparation
and insertion of the blanks and certified reference material was carried out by Sirios ’ geologists
at the Cheechoo camp, prior to sending the sample batches to the Actlabs laboratory for the same
processing and analysis as the diamond drill core samples.
The scientific and technical content of this press release has been reviewed and approved by
Dominique Doucet, P.Eng. president and CEO of Sirios Resources Inc. and Jordi Tur cotte,
P.Geo. senior geologist, both qualified persons under National Instrument 43-101.
About the Cheechoo Property
The Cheechoo gold property, wholly -owned by Sirios, is located in Eeyou Istchee James Bay,
Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for
the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of
gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant
potential t o increase 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 Sirios
A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec,
Canada, Sirios Resources Inc. is focusing primarily on its Cheechoo gold discovery , while
actively exploring the gold potential of its other properties.
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 ri sks, 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 di ffer 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 ris ks 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Rules of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact :
Dominique Doucet, President, CEO, Eng.
Tel. : (514) 918-2867
website : www.sirios.com