Sirios Resources: Visible Gold Found at Multiple Depths in First Drill Hole of Fall 2024 at Cheechoo
Sirios Resources: Visible Gold Found at
Multiple Depths in First Drill Hole of Fall
2024 at Cheechoo
November 25, 2024
Montréal, QC – Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) (“Sirios” or the “Company”) is
pleased to announce the presence of visible gold at eight diƯerent locations in the first drill hole
of its Fall 2024 program on the Cheechoo gold project in Eeyou Istchee James Bay, Québec.
Multiple gold grains were observed by Sirio’s geologists in drill hole CH24-317 (Figure 1) at the
following depths:
86.6m;
91.7m;
128.0m;
167.5m;
178.3m (Figure 2);
189.0m (Figure 3);
331.3m;
Between 356.9m and 358.3m (Figure 4).
These observations confirm the presence of gold at multiple locations along the hole, but only
laboratory assay results will specify the gold grade. The drill hole was completed yesterday after
reaching the planned depth of 399 meters.
Figure 1: Location of drill holes CH24-317 (completed) and CH24-318 (in progress).
Figure 2: CH24-317, 178.3m: Visible gold in a quartz veinlet with arsenopyrite and scheelite.
Figure 3: CH24-317, 189.0m: Visible gold in a quartz stockwork with arsenopyrite.
Figure 4: CH24-317, 356.9-358.3m: Multiple gold grains in 3 decimetric quartz-feldspar-scheelite veins.
Ongoing Drilling Program
Sirios is currently carrying out the first phase of a diamond drilling program targeting high-grade
zones of the Cheechoo gold deposit. The Phase 1 program will consist of approximately 2,000
meters of drilling. Phase 2 will be of greater scope and will be carried out during the winter of 2025.
Phase 1 focuses on delineating and expanding high-grade zones in the eastern part of the deposit.
Phase 2 will expand drilling to the western part of the deposit, including the high-grade Eclipse
zone.
This drilling campaign marks a significant milestone in the Company's new vision for the project,
targeting high-grade zones with potential for both open-pit and underground development.
Strategic Objectives
The primary objectives of this drill program are to:
1. Gather data to support an upcoming Mineral Resource Estimate (MRE) update;
2. 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 (see our interactive 3D model at
sirios.com/en/cheechoo). 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 e Ưective 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
suƯicient 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
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 di Ưer materially
from those expressed or implied by such forward-looking information. Factors that could cause
actual results to diƯer 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.