Sirios files the NI 43-101 report of the resources estimate update for the Cheechoo gold project in Quebec
TSX-V : SOI December 22, 2020
Sirios files the NI 43-101 report of the resources estimate update for
the Cheechoo gold project in Quebec
Montreal (Quebec) – Management of Sirios Resources Inc. (TSXV: SOI) ("The Company") is
pleased to announce that Sirios has filed on SEDAR the technical report titled "Mineral Resource
Estimate Update for the Cheechoo Project Eeyou Istchee James Bay, Québec, Canada" , with an
effective date of October 31st, 2020 . The report, in compliance to the NI 43 -101 standards and
completed for the company by BBA Inc., h the resource estimate update of the Cheechoo gold
project, located at Eeyou Istchee James Bay at Quebec.
The updated resource shows an increase of 355,000 ounces of gold compared to its initial
resource estimate, representing an increase of 22% . The report indicate s that, based on an
open-pit constrained model, the inferred resources are estimated at 1.955 million gold ounces
(Moz) contained in 93.0 million tonnes (Mt) with an average grade of 0.65 grams of gold
per tonne (g/t Au) (figure 1).
Dominique Doucet, President and CEO of Sirios, states: " I want to congratulate our technical
team, who within less than a year, significantly increased the resource estimate on our
Cheechoo gold deposit."
Figure 1 Plan view. The black -outlined conceptual pit contains the first resource estimate of 1.6 M oz of gold. The green -
outlined grey conceptual pit contains the new resource estimate of 1.96 M oz of gold.
The scientific and technical content of this press release has been reviewed and approved by Mr.
Dominique Doucet, P.Eng. President and CEO of Sirios Resources Inc. and Mr. Jordi Turcotte,
P. Geo. Senior Geologist who are “Qualified Persons” as defined by National Instrument 43-101.
About the Cheechoo Property
The Cheechoo Property located 9 km from the Eleonore gold mine of Newmont at Eeyou Istchee
James Bay, Quebec, i s wholly owned by Sirios. The new resource estimate of the project
(October 2020) delineated inferred resources of 1. 96 million ounces of gold , with a significant
potential to increase these resources.
About Sirios
Founded in 1995, Sirios Resources develops and explores its own mining exploration projects.
Pioneer in the discovery of si gnificant gold deposits in the Eeyou Istchee James Bay region of
Quebec, Canada, over the years, Sirios is focusing on its flagship gold project Cheechoo, the
2016 discovery of the year in Quebec.
Cautionary note regarding forward-looking information
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, uncertain ties 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 i nformation 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 al l. 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.
The estimate of Inferred Mineral Resources mention ed in this press release conform 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 effect ive date of the estimate is
Octobre 31st 2020. 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.
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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Contact information :
Dominique Doucet, President, CEO, Eng.
Tel.: (514) 510-7961 Website: www.sirios.com