Sirios Resources Inc.: Drilling Yields 0.72 g/t of Gold Over 39.5 Metres Cheechoo Gold Project, Opinaca Area, James Bay, Qc
MONTREAL, QUEBEC--(Marketwire - Dec. 20, 2012) - Following reception of core assays results from the second drill hole of the Cheechoo project, the Directors of SIRIOS RESOURCES INC. (TSX VENTURE:SOI) are pleased to promptly announce these significant results. Eighty core sample assay results, which represent the entire drill hole #02, were received and their quality control was done by an independent consultant. These samples show, in the second half of the hole, a 39.5-metre continuous section grading 0.72 g/t of gold. Individual grades vary from 0.05 g/t Au up to 5.2 g/t Au for samples whose length is between 0.9 and 1.5 metres. Of all these results, three values yielded greater than 1 g/t: 1.85 g/t Au over 1.5 m; 2.52 g/t Au over 1.5 m; and 5.16 g/t Au over 1.5 m. The drill hole ends in the mineralized zone which is open at depth.
Drill Hole #
CH-919-12- | Collar | Azimut | Plunge | From
(m) | To
(m) | Interval
(m) | Au
(g/t) |
| 02 | 14+00S 10+75E | 320° | 51° | 43.5 | 100.0 | 56.5 | 0.59 |
| | | | Incl. | 43.5 | 56.0 | 12.5 | 0.39 |
| | | | Incl. | 60.5 | 100.0 | 39.5 | 0.72 |
| | | | | | | | |
| *01 | 10+70S 10+20E | 234° | 45° | 17.0 | 29.4 | 12.4 | 0.64 |
| | | | | | | | |
*results released on December 11, 2012
Results from hole #02 show a fine sulphide dissemination over large widths similar to those from hole #01 announced last week. The host rock of the gold mineralization consists of a silicified felsic intrusive (tonalite) rock, containing low quantities of arsenopyrite and pyrrhotite. Small quartz veinlets occur in the tonalite. However, gold bearing pegmatites occur in hole #02. Until now, only 12 samples from drill hole #1 (total length of 195 m) were analyzed and yielded an average gold grade of 0.645 g/t over 12.4 metres. The mineralized zones found in holes #01 and 02 are open in all directions. Drill holes #01 and 02 are 266 metres apart.
A total of eight diamond drill holes of NQ caliber were completed for a total of 938 metres. More than 600 core samples are currently being prepared to be sent for assaying at the ALS Chemex laboratory in Val-d'Or. Photographs of drill cores are available on Sirios' web site.
Dominique Doucet, President of Sirios stated, "These new results are extremely encouraging because even with only 113.4 metres of core assayed we now have two gold bearing intercepts grading more than 0.5 g/t over a total of 68.9 metres in two different drilling sites. As drill holes #01 and 03 also intercepted the silicified tonalite and several hundreds of assay samples are to come, management is confident that other significant results will be obtained."
The completed drilling program on the Cheechoo project is located at less than 15 km from the future Eleonore gold mine currently under construction by a subsidiary of producer Goldcorp. As announced last summer, Sirios has signed an agreement with Golden Valley Mines Ltd. (TSX VENTURE:GZZ) for the Sharks and Cheechoo gold properties ("Cheechoo gold project"), allowing Sirios to increase its current interest in the project from 40% to 100% following the completion of certain obligations and compensation (see our June 15, 2012 press release). Sirios is operator of the project.