Sirios Resources [SOI-TSXV] has announced partial assay results of drill hole #52 at its Cheechoo gold project. The project is located in Eeyou Istchee, James Bay region northern Quebec, 800 km north of Montreal and less than 10 km from Goldcorp’s Eleonore gold mine. Â Â Â Â Following observations of visible gold indicating potentially a significant gold zone in this drill hole, Sirios geologists extracted a series of drill core samples for priority assay. It shows, between 120 m and 140.3 m, a section grading 12.08 g/t gold over 20.3 metres, including 48.38 g/t over 4.4 metres (uncut grades, true width unknown).
The gold mineralization is distributed in both meta-sedimentary rocks and the tonalite, thus overlapping the contact of these two lithologies. Gold is associated with the presence of numerous folded millimetric veinlets of quartz-feldspar. Only the section between 113.5 m and 147 m was assayed to date in this drill hole, results are detailed in the table on the company’s website.
Dominique Doucet, President of Sirios, stated, ”Drill hole #52 was aiming at zone L, a suspected auriferous structure intersected by drill holes #1, 12, 26. This drill hole confirms and accentuates the high-grade gold potential over good widths as much in meta-sedimentary rocks as in tonalite. It adds yet another significant target that will be tested in the upcoming drilling campaign.”
The winter 2016 diamond drilling program, started in mid-January, was finished last week with the completion of drill hole #56. Twenty six drill holes (#31 to 56) were completed for a total of 4,179 metres. Assays are completed for drill holes Ext#22, 32, 33, 34, 36 and 37 while re-assays for quality controls are underway for drill holes #31 and 35. Shallow, less than 80 meters deep, drill holes #34, 36 and 37 yielded only anomalous gold grades. Samples from drill holes #38 to 56 will be assayed in following weeks. Only partial results are known and published to date for drill holes #40 and #52 with this press release and the one of March 7th.
Sirios concluded an agreement with Golden Valley Ltd. regarding ownership of Cheechoo allowing it, to upon completion of certain obligations and counterparts, increase its current interest to 100% (press release dated December 9, 2013). Sirios is the manager of the project.