Subject: CORPORATE OFFICERS
Update of Sirios' activities in the Eeyou Istchee James Bay Region, Quebec
MONTREAL, June 12, 2023 (GLOBE NEWSWIRE) -- The management of Sirios Resources Inc. (TSX-V: SOI) announces that the suspension of its exploration activities initiated on June 4 in the Eeyou Istchee James Bay region is continuing. This suspension will continue as long as the restriction of access to the public forest is maintained by the Government of Quebec in order to prevent new fires. The management of Sirios wishes to indicate that they greatly appreciate the efforts made by the various organizations involved in the fight against the current forest fires as well as the solidarity of aid and support to the local communities and victims of this situation.
Before the halt of fieldwork, the Sirios exploration team completed the following tasks on its Cheechoo gold property:
| - | Collection of 10 composite samples, totaling 570 kg for mineralogical studies and metallurgical recovery. These samples came from drill core intervals and new channel samples targeting representative areas with various tungsten grades previously observed in tonalite or meta-sedimentary rocks. The objective of these tests is to verify whether tungsten, in association with the Cheechoo gold mineralization, could become a by-product of interest, thereby increasing the value of the deposit. | |
| - | Locating on the ground, using differential GPS, future sites for exploration trenching to be carried out this summer east of the Cheechoo gold deposit. | |
| - | Collecting and shipping of a hundred drill core samples from various intervals of previous drilling in order to test the new Photon Assay analysis technique at the MSALABS laboratory in Val-d'Or. |
About Cheechoo Property
The Cheechoo gold property is 100% owned by Sirios and consists of 306 claims covering an area of 157 km2, divided into three non-contiguous blocks. It is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont's Eleonore gold mine and is easily accessible by all-season roads. The property hosts the Cheechoo gold deposit. Its most recent resource estimate, based on an open pit constrained model, includes an indicated resource of 1.4 million ounces of gold contained in 46.3 million tonnes at an average grade of 0.94 g/t Au, and an inferred resource of 0.5 million ounces of gold contained in 21.1 million tonnes at an average grade of 0.73 g/t Au with significant potential to increase this resource (BBA, PLR Resources, P-L. Richard, P. Geo.; D. Evangelista, P. Eng., K. Ford NI 43-101 Technical Report, Mineral Resource Estimate Update for The Cheechoo Project, 12/23/2022).
About Sirios
Sirios Resources is a Canadian-based mining exploration company focused on developing its portfolio of high-potential gold and lithium properties in the Eeyou Istchee James Bay region of Quebec.
Cautionary note regarding forward-looking statements
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. Forward-looking statements involve risks, uncertainties and other factors that could cause actual events, results, performance, expectations and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, but are not limited to capital and operating costs that differ materially from estimates; the tentative nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other approvals; uncertainties related to the availability and cost of necessary financing in the future changes in financial markets; inflation; fluctuations in metal prices; delays in project development; other risks relating to the mineral exploration and development industry; and risks disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements contained in this news release are reasonable, readers should not place undue reliance on this information, which speaks only as of the date of this news release, and there can be no assurance that such events will occur or occur within the time periods presented. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Rules of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact :
Dominique Doucet, Eng., President
Tel. : 514-510-7961
[email protected]
Website : www.sirios.com
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