MONTREAL, April 28, 2021 (GLOBE NEWSWIRE) -- The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce that a major re-assaying program was initiated recently for the Cheechoo gold project, Eetou Istchee James Bay, Quebec. Several thousand core samples used to define the Cheechoo gold deposit may be re-assayed using the “LeachWELL” process (cyanide bottle roll leach) on one kilogram of material per sample. To date, 643 samples have been sent to the AGAT and Actlabs laboratories.
This program results from a statistical analysis conducted by Sirios’ geologists showing that the gold grade is generally higher and more representative when the sample weight is greater than the 50 grams normally used in laboratory. This relationship between the measured gold grade and the size of the assayed sample is typical of the “nugget effect” and was confirmed by previous mineralogical and metallurgical studies.
Dominique Doucet, founder and CEO of Sirios, stated: "Based on the results of the re-sampling program, we believe that the average gold grade of the Cheechoo deposit will improve. The drilling program that will be carried out this summer and the re-assaying program will increase the quality of the Cheechoo deposit and possibly the average gold grade. "
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 Turcotte, P.Geo., Senior Geologist, Qualified Persons as defined by NI 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 to increase this resource.1
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 for the gold potential of its other properties.
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 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 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.
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.
1 BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020