Sirios Resources hits visible gold at multiple depths at Cheechoo, Quebec
Sirios Resources Inc. [TSX-V: SOI; OTCQB: SIREF] reported the presence of visible gold at eight different locations in the first drill hole of its Fall 2024 program on the 100%-owned Cheechoo gold project in Eeyou Istchee James Bay, northern Québec.
Multiple gold grains were observed by Sirios geologists in drill hole CH24-317 at the following depths: 86.6 metres; 91.7m; 128.0m; 167.5m; 178.3m; 189.0m; 331.3m; and between 356.9m and 358.3m.
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 metres.
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 metres 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 gather data to support an upcoming Mineral Resource Estimate (MRE) update; 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. 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.
Located less than 15 km from Newmont’s Éléonore gold mine in the Eeyou Istchee James Bay territory of Québec, the Cheechoo property 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 US$1,650/oz gold price: Indicated resources: 1.4 million ounces at an average grade of 0.94 g/t gold; inferred resources: 500,000 ounces at an average grade of 0.73 g/t gold. Underground mining scenarios have not been evaluated in the 2022 MRE.