Sirios Resources Inc V.SOI

Can't wait to see how the public will react.

[sylvain_007]

 

 

In terms of recovery, what does that mean with the current numbers?

Good news as always, the market will now get involved

[givemeabreak1]

sylvain  All that is currently being reported is the resource of about 2 million ounces.  When a PEA is done they have to optimize a pitshell design.  In other words you could have 20% of the resource fall outside the pit so now you are down to 1.6 million recoverable ounces.  So now you have to take that 1.6 and multiply by the percentage that is recoverable so the 1.6 million

[givemeabreak1]

On a side note while the results are encouraging they are less than being promoted on their web-site. Metallurgical tests 2019 Metallurgical Tests Results. Metallurgical tests conducted in 2019 on samples representative of Cheechoo’s mineralization obtained gold recovery rates up to 97%, including 88% by gravimetric process.

[f0xtr0t]

My understanding was that heap leech was far much cheaper to extract gold than what Newmount is doing at Eleonore. The down side is the recovery rate is lower. So bottom you don't need a lot of equipments if you are doing heap leech recovery.

[givemeabreak1]

f0xtr0t You are compating an apple to a banana.  The newmont Eleonore mine is an underground mine not a pit!  They are extracting a grade about 10 times higher than the Sirios pit.  Thier recovery is in the 90% plus range vs in the 70% plus range.  Yes underground mines are more expensive but the 2 projects have nothing in common other than the region of the country!

[f0xtr0t]

Yes sorry, we can't compare with Eleonore, my point is the cost is far less than anything else in Quebec. The only other heap leach in Canada is the Mine by Victoria, so we should compare to that.

[dandu1924]

Victoria has still 3,3 million gold reserve and  11 years left. So we should get some share comparison soon  with an another 1 million  of SOI, (500,000 with the neighbors agreement  and 500,000 around Cheechoo actual deposit. Possible to do that but  DD must going foward and accelerate the drilling program ect, otherwise this stock will go down again and over again until&

[Hollingerboy]

If you check the Sirios website, Cheechoo project, they already use Victoria for comparative purposes! It's very well laid out. HB. 

[william_]

Look who is complaining right now !!  LOL dandu... you make me laugh !

[pierre013]

I think it's time to put the perspective on what is an exploration company. It's a company that spends the money it receives from his shareholders, so money should be spent very carefully. I was on the ICM webcast when D.D.did his presentation in january. He explained that the cost for drilling right now at James Bay is out of mind because all the available drills in Abitibi are working

[Althym]

I agree with you for the most part, but this does not explain why Azimut can drill this winter in Elmer but Sirios has to wait until summer to carry out the same drilling program in Cheechoo. This again delays us by a period of 6 months to a year in order to convert the resource, update it and finally have a preliminary economic study (PEA). And this without mentioning that an agreement with the

[dandu1924]

Au sujet de l'autorisation des voisins, DD a dit qu'il avait penser a  quelque chose afin de contourner cette situation, il devrait nous en informer bientot et en ce qui a trait  au drillage, il existe une penurie de resource dans ce domaine avec tout ce qui se passe dans le secteur, mais comme DD l'a souligne avec les resultats des voisins, l'effet domino pourra profiter

[givemeabreak1]

Althym Just a guess but Azimut completed financing for a large drill program back in September so lots of prep time and time to sign contracts etc etc.  Sirios completed their financing just before Christmas.  I suspect again just a guess winter drilling will pretty much be over by the time they get things done.  No use doing thing in a hurry especially considering winter drilling

[Althym]

@givemeabreak1 Several reasons may explain the decision to postpone drilling until next summer. 1- The share price being at its lowest and the price of drilling having increased due to the demand in the Abitibi region, it was probably justified to postpone the summer drilling in order to reduce costs. This is probably why DD is now talking about a 10,000m or 15,000m drilling campaign. 2

[givemeabreak1]

Althym- The share price was a non-factor given they did a financing in December at these low prices.  So share price would not affect drilling other than what I said too late in the season. The results of the heap leaching was also a non factor given they already had preliminary tests that were in fact higher than what they arrived at.... As I said it appears it would be because winter

[givemeabreak1]

There are othe heap leach projects in Canada but Victoria Gold is the closest as far as: 1.  Very Similar Low Grade 2.  Very similar Mettalurgy 3   Very Similar Strip Ration That said as I noted on my prior post Sirios has a 2 million ounce resours.  Victoria Gold has like a 6 million ounce resource.  The 3.3 million dand refers to is a resource ie economic and

[givemeabreak1]

Should say 3.3 million reserve!

[dandu1924]

William pas assez intelligent pour comprendre que je moquais de lui avec ses remarques, on l'a eu. Nous pouvons comprendre pourquoi il est en perte avec ses stocks.

[f0xtr0t]

Can you share your list,  I only found one Gold only project Dublin Gulch (Eagle Gold, Victoria).  I also found Carmacks but is a Cu-Au-Ag, I think it is more a cooper mine than a gold mine. But a Gold only heap leach project I only found Victoria in Canada. By the way there is a lot of heap leach projects in Colorado/Nevada and in Mexico.

[Althym]

Canadian Malartic 4.78 million ounces of gold at 1.11 g/t of gold The plant processes 57,000 tonnes of ore per day, on average, depending on operational availability, which was 94.2% in 2019. The plant includes a crushing circuit consisting in primary and secondary crushers, which is followed by a grinding circuit. The milled ore then goes through a leach circuit, where the gold and

[VentureCapital3]

heap leach

[BreadPitt]

Hi all, first post here. Could someone tell me if I am correct in my analysis of the recent news ? The test recently done for Cheechoo can't be quite compared to other recent open pits Canadian Malartic (±88%) and more recently Marban (w\ 93.7%) or Troilus. Column leach test are only for heap leaching using an economic P80 of about 6.5 mm in this case (so no SAG&Ball mills required

[givemeabreak1]

BreadPitt You say Virginia Gold do you mean Victoria Gold? You say no SAG and Ball mill needed what makes you say that?  The Cheechoo result were based on a 6.3mm crushed size.  Victoria gold runs their product through 3 crushers to a 6.5mm crush size.  

[BreadPitt]

omg yes, meant to say Victoria Gold, sorry for the confusion It was only show some of the difference in the equipment used for the two process (Victoria Gold vs Canadian Malartic). I don't think SAG and Ball Mill are required when analysing the leach pads option since only it doesn't require to go to a very fine grind (ex : 65 micrometer) for economical reasons. Like you say, Victoria

[givemeabreak1]

Victoria is about the same grind size as what is tested by Sirios so in order to get a recovery in the upper 70's they wil need similar equipment.  

[Hollingerboy]

Victoria market cap over $600MM.....and as high as 1.2B this past summer......VS 30MM for Sirios.....hopefully that gap narrows over time! HB

[william_]

Give me 2$ per share and I am out.  Thank you in advance.

[givemeabreak1]

Hollingerboy You are comparing an apple to a Banana! The Victoria gold market cap includes about 500 million to build the mill and another 100 million in drilling costs.  Now add a 500 million dollar mill and another 100 million in exploration then you would be talking apples to apples lol!  So talking about narrowing the gap when there is no actual gap because you are comparing