It is well known that the best place to find a gold mine is near an existing one. As a result, when the doors opened at #PDAC 2018, I was particularly eager to speak with Sirios Resources and Azimut Explorations, as both companies are endeavoring to discover the next gold mine in Quebec, Canada.
After hurrying to the Sirios Resources $SOI booth, I met their President, Mr. Dominique Doucet, who told me that they had just released news at 10am that morning. I informed him that I had already learned of the news at 10:04am after logging into CEO.CA, delighting him with the speed of the site’s dissemination of information.
The news that morning talked about how Sirios Resources are currently advancing their Cheechoo project in James Bay, Quebec. While their recent success at the Jordi zone is impressive, what especially caught my attention were the previous results from the “Eclipse Area” at Cheechoo, where drill hole CH17-095 hit 13.5m @ 11.9g/t.
This information is striking because the “Eclipse” area lies adjacent to the property line of Azimut Exploration $AZM, who are currently drilling their Moni Trend.
It appears they have had some wide high-grade intercepts at the Eclipse Area, but they may have decided to focus elsewhere due to its proximity to Azimut’s property. These other drill results elsewhere continue to cause excitement, as evidenced in a March 4th, 2018 article:
Overall, it is my belief that Sirios Resources and Azimut Exploration are onto something big, provided that the work at the Eclipse area continues south and joins Azimut’s Moni Trend, which has yielded very high-grades in some channel sampling. As a visual of this potential meeting, I have connected the Eclipse area and the Moni Trend in a rough, estimated image shown below:
(As an aside, Goldcorp owns 19% of Sirios Resources, and 33% of Azimut’s South Éléonore project which is notable because they run the Éléonore gold mine next door, and most likely are watching this development quite closely)
In addition to Mr. Doucet, I also spoke at #PDAC to the CEO of Azimut, Jean-Marc Lulin, who sparked my interest in their exploration work when we initially met at January’s #VRIC in Vancouver. At the time, I was with @MiningBookGuy, @LucTenHave, and @martin.
At #PDAC, Mr. Lulin informed me that they had initiated Phase 2 of their 5,100m drill program, with a total of 29 holes (a 40% increase from the initial 3,600m plan) to be drilled with 18 of those along the Moni Trend. While I am NOT a geologist (so take this next part with a grain of salt), I do feel that Moni Trend is an excellent location for speculating on.
The Azimut side of the highlighted pink is "the delineation of a major intrusion-hosted gold-bearing corridor that is 4 kilometers long by 600 meters wide and extends onto the adjacent Cheechoo property to the NE". Sirios is currently stepping outside the pink area and still hitting the bulk low grade gold. That pink oval should, in fact, curve up to the left. On the Azimut property, I believe, they are currently drilling 11 holes into this area. Meanwhile, the green highlighted zone includes the Moni Trend, which, according to their news release, is “characterized by a high-grade quartz-felspar (±pegmatitic) vein system; best results include 79.5 g/t Au over 5.87 m (channel sample, Moni Prospect), 101 g/t Au (outcrop grab sample, 101 Prospect) and 1,500 g/t Au angular boulder, Trench Prospect).” It is here, I am anticipating, that Azimut’s drill program may yield some interesting results worth speculating on.
Both Mr. Doucet and Mr. Lulin are fantastic guys, and I encourage you to reach out to them for further information regarding their exploratory work.
Because this system lies across both company’s land, it is important look at both and access how each company is defining the system. As a speculator, I believe Sirios Resource’s Eclipse area is of significant importance, and if Azimut can connect the dots on their property, we may be in for a pleasant surprise.
At the time of this writing, I do not own shares of either company. I am writing this article as part of my #PDAC 2018 adventures. Please do your own due diligence. I am not a geologist. Please contact me at email@example.com or private message me with any questions.