Sep 15 2017
Management of SIRIOS is pleased to announce an update on the completion of numerous summer fieldwork carried out, and still ongoing, as well as the beginning of the 2017 fall diamond drilling program on the Cheechoo gold property adjacent to the gold mine property of Eleonore of Goldcorp at Eeyou Istchee James Bay, Quebec.
Intensive fieldwork carried out on the property include among others:
- Detailed prospecting over more than 10 square km on high potential targets,
- Digging of numerous trenches with channel sampling and mapping,
- Increase of the 2016 main stripping area with completion of around 1,000 meters additional channels with tight spacing from 10 to 5 meters at some places, and mapping,
- Till sampling (34 samples) to complete the 2015-16 survey,
- A second borehole diagraphy survey in 12 selected drill holes.
More than 700 rock channel samples are actually being assayed in addition to the new samples (around 1,000) from the main stripping area that should be sent soon to the laboratory. Furthermore, in order to upgrade the sampling protocol, a comparative study between two different assay processes on core samples were carried out by specialists. Core samples from mineralized zones from previous drill holes are also being sent on a weekly basis to the laboratory for metallic sieve assaying, a total of more than 900 samples will be sent.
2017-18 Exploration Program
The above-mentioned summer program is still ongoing, it is part of a broad 2017-18 exploration program with a total expected budget of $5.7 M. The program includes, among others, the execution this fall of a 8,000 metres diamond drilling program which starts today. It will be followed by an additional 10,000 metres of diamond drilling, next winter. This new drilling program will allow to test targets we identified near surface and at depth, in tonalite and in meta-sedimentary rocks; a precise sector will be drilled with a 50 metres grid pattern. Some drill holes will also test possible extensions of gold-bearing mineralization along the tonalite-meta-sediments contact, whereas others will test some targets of "wildcat" type.
With a working capital of $8,7M, Sirios has the cash required till the end of 2018 to carry its exploration program.
The Cheechoo gold project is located in Eeyou Istchee James Bay, Quebec, 800 km north of Montreal, Quebec, Canada, at 200 km east of Wemindji and less than 10 km from the Eleonore gold mine of producer Goldcorp that has begun production in 2015. Sirios received the award of Discovery of the year 2016 by Quebec Mineral Exploration Association for its gold discovery Cheechoo.
Dominique Doucet, eng., President, a Qualified Person pursuant to National Instrument 43-101, has prepared this press release.