SIRIOS: New Auriferous Lithology Intersected by Drill Hole at Cheechoo
February 9, 2016
MONTREAL, QUEBEC--(Marketwired - Feb 9, 2016) -
Editors Note: There are four maps associated with this press release.
Management of SIRIOS (TSX VENTURE:SOI) announces a new geological gold unit has been intersected in the Cheechoo property, Eeyoun Istchee James Bay. This unit was intersected in hole #40 at a depth of 296 m. It is an altered and mineralized biotite schist with 1 to 3% of pyrrhotite and arsenopyrite disseminated on total thickness of the 36 metres unit. (True thickness unknown). The schist is cross-cut here and there by small decimetric to metric pegmatite dykes. Five specks of visible gold were observed between 315.5 m and 327 m in the schist and pegmatite, confirming thus the auriferous nature of the unit. Assays results for gold from this unit will be available in a few weeks and will determine its gold grade. Visible gold was also observed in tonalite, elsewhere in the same drill hole as well as in drill hole #41 which is currently underway, and drill holes #32 and #34.
The diamond drilling program, which began in mid-January, is ongoing. As of today, 10 drill holes (#31 to 40) have been completed, for a total of 1,460 metres. Pictures of drill cores of biotite schist, a map showing location of current and last September drill holes as well as images of visible gold from hole #41 are available at the following links:
Other ongoing fieldworks
Few other series of drill core samples from previously completed holes on the property are actually in re-assay for gold by metallic sieve including, among other, samples with observed visible gold. Statistical studies on the variability of assay results will be performed in order to determine the optimal sampling protocol for Cheechoo.
In addition, 36 samples of till and 312 samples of soil (humus), collected last fall, are currently being processed for gold grains counting and geochemical assay respectively. Preliminary results of gold grains counting in till seem to indicate one or multiple possible gold sources in one or two zones located outside the gold halo that has been targeted for most of drill holes until now.
The CHEECHOO gold project is located in Eeyou Istchee James Bay, Quebec, 800 km north of Montreal and less than 10 km from the Eleonore gold mine of producer Goldcorp that has just begun production. This world-class deposit contained 4.03 million ounces of gold and 4.10 million ounces of inferred gold mineral resources (Source: Press release of Goldcorp, March 28 2014). In 2012, Sirios concluded an agreement with Golden Valley Ltd. regarding ownership of CHEECHOO allowing it, to upon completion of certain obligations and counterparts, increase its current interest to 100% (press release dated December 9, 2013). Sirios is the manager of the project.