Sirios Resources Inc., a pioneer in the discovery of significant gold deposits, has reported that it has completed drilling 2,517 m in total so far on the Cheechoo gold property located in Eeyou Istchee James Bay, Quebec.
Visible gold was noted in 10 instances in five of the nine definition diamond drill holes summing 1,767 m. Two more definition holes were drilled by reverse circulation (RC) to a total of 211 m.
Until now, three exploration diamond drill holes have been finished for a total of 539 m. The occurrence of visible gold, as well as the lithologies sectioned, are in line with the hopes of Sirios’ geologists and the gold deposit modeling.
Due to the excellent diamond drilling production rate compared to reverse circulation drilling, Sirios’ management has taken the decision to finish the remainder of the campaign through diamond drilling. Thus, the definition drill program will proceed by diamond drilling with Synee Drilling Inc. on the sites that were scheduled initially. The total number of meters to be drilled could be altered.
The definition drilling program aims to better identify the Cheechoo deposit and start an updated resource estimate (as soon as 2022) that will enable a considerable amount of inferred resources to be transformed to denoted resources. The enhanced gold resource classification of the project will raise the value of the Cheechoo deposit and support the progress of the project to a more advanced stage with the completion of a Preliminary Economic Assessment (PEA).
About the Cheechoo Property
The Cheechoo gold property has been 100% owned by Sirios and is situated in Eeyou Istchee James Bay, Quebec, within 9 km from Newmont’s Eleonore gold mine. The new resource evaluation for the Cheechoo project (October 2020) predicted an inferred resource of 2.0 million ounces of gold embedded in 93.0 million tons of rock at an average grade of 0.65 g/t Au, with considerable prospects to increase this resource.
The scientific and technical content of this report has been reviewed and approved by Dominique Doucet, P.Eng. president and CEO of Sirios Resources Inc., and Jordi Turcotte, P.Geo. senior geologist, both qualified persons as per National Instrument 43-101.