Saturday, December 10

Sirios intersects up to 2.65 g/t Au over 11 m at surface and extends the mineralization of the Cheechoo deposit by 400 m to the east into the metasediments


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MONTREAL, Nov. 08, 2022 (GLOBE NEWSWIRE) — The management of Sirios Resources Inc. (TSX-V: SOI) is pleased to report assay results from channel samples collected last summer (Figure 1), which included 2.65 g/t Au over 11.0 m (Figure 2). This confirms the extension of gold mineralization beyond the tonalite and into the meta-greywackes (“metasediments”) outside of the conceptual pit of the 2020 mineral resource estimate (MRE) of the Cheechoo project. These results highlight a new type of gold mineralization hosted in metasediments, more typical of the Eleonore mine.

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In August and September, Sirios carried out mechanized trenching and channel sampling of three areas in the metasediments to the east of the conceptual pit of the Cheechoo gold deposit. A total of 218 samples from 216 meters of channels were sent to the ALS laboratory in Val -d’Or for analysis.

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Significant results from these three trenches (2022-A, B and C) are presented below:

Trench Channel Sample Length (m) Grade (Au g/t) Significant Intervals
2022-A CHRN22-401 Y092346 1 2.86 1.61 g/t Au / 2 m
2022-A CHRN22-401 Y092347 1 0.36
2022-A CHRN22-401 Y092441 1 0.26
2022-B CHRN22-416 Y092075 1 0.33 0.33 g/t Au / 4 m
2022-B CHRN22-416 Y092076 1 0.33
2022-B CHRN22-416 Y092077 1 0.16
2022-B CHRN22-416 Y092079 1 0.51
2022-B CHRN22-416 Y092080 1 0.18
2022-B CHRN22-417 Y092081 1 0.85 2.65 g/t Au / 11 m
2022-B CHRN22-417 Y092082 1 0.44
2022-B CHRN22-417 Y092083 1 0.57
2022-B CHRN22-417 Y092084 1 10.9
2022-B CHRN22-417 Y092085 1 4.68
2022-B CHRN22-417 Y092086 1 1.06
2022-B CHRN22-417 Y092087 1 0.72
2022-B CHRN22-417 Y092089 1 4.93
2022-B CHRN22-417 Y092090 1 1.11
2022-B CHRN22-417 Y092091 1 2.85
2022-B CHRN22-417 Y092092 1 1.05
2022-B CHRN22-417 Y092094 1 0.17
2022-B CHRN22-417 Y092095 1 0.23
2022-B CHRN22-417 Y092496 1 0.15
2022-B CHRN22-418 Y092097 1 2.59 1.33 g/t Au / 2.7 m
2022-B CHRN22-418 Y092099 1 0.81
2022-B CHRN22-418 Y092100 0.7 0.27
2022-B CHRN22-419 E0000001 1 0.31 0.39 g/t Au / 3 m
2022-B CHRN22-419 E0000002 1 0.22
2022-B CHRN22-419 E0000003 1 0.64
2022-B CHRN22-422 E0000010 0.7 0.27
2022-B CHRN22-423 E0000012 1 0.44
2022-C CHRN22-402 Y092443 1 0.39 0.63 g/t Au / 3 m
2022-C CHRN22-402 Y092444 1 1.13
2022-C CHRN22-402 Y092445 1 0.37
2022-C CHRN22-402 Y092447 1 1.28
2022-C CHRN22-402 Y092368 1 0.22
2022-C CHRN22-402 Y092375 1 0.27
2022-C CHRN22-402 Y092377 1 0.24 0.37 g/t Au / 8 m
2022-C CHRN22-402 Y092379 1 0.55
2022-C CHRN22-402 Y092380 1 0.72
2022-C CHRN22-402 Y092381 1 0.4
2022-C CHRN22-402 Y092382 1 0.21
2022-C CHRN22-402 Y092383 1 0.05
2022-C CHRN22-402 Y092384 1 0.15
2022-C CHRN22-402 Y092385 1 0.61
2022-C CHRN22-402 Y092391 1 0.22 0.19 g/t Au / 4 m
2022-C CHRN22-402 Y092392 1 0.04
2022-C CHRN22-402 Y092393 1 0.29
2022-C CHRN22-402 Y092394 1 0.19
2022-C CHRN22-402 Y092399 1 0.21

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Figure 1: Location of the three trenches completed in 2022 within the metasediments.
https://www.globenewswire.com/NewsRoom/AttachmentNg/8f578808-3354-48ca-8dde-d043b07fa421

Figure 2: Central part of Trench 2022-B.
https://www.globenewswire.com/NewsRoom/AttachmentNg/e32e558b-574c-4bee-99fe-20915cfb836b

A new geological setting for the gold mineralization of the Cheechoo deposit

The high-grade gold results obtained during this program are hosted in metasediments with 2-3% pyrrhotite and arsenopyrite, as well as millimetric vein quartz-feldsparlets (Figure 3), which represents a new geological context for gold mineralization for the Cheechoo deposit.

Figure 3: Channel sample Y092084 (10.9 g/t Au over 1.0 m). Metasediments (meta-greywacke) with 3% pyrrhotite, 3% arsenopyrite and 5% millimetric quartz-feldspar veinlets.
https://www.globenewswire.com/NewsRoom/AttachmentNg/4e7f542e-0b80-4b7f-8f17-f5a99e2db007

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Intrusive rocks (tonalite and pegmatite) were previously thought to be the only host rocks for gold mineralization at Cheechoo. The discovery of these new high-grade gold zones in the metasediments now confirms the presence of gold mineralization more than 400 meters outside of the tonalite.

Dominique Doucet, President and CEO of Sirios said: “We are delighted with the exceptional results obtained for the first time at surface within the metasediments. This poorly explored geological unit adds major exploration potential to the Cheechoo project, as it represents a new sector favourable for gold mineralization that extends several hundred meters to the east.”

“Our summer campaign proved to be a great success thanks to the results of these new trenches, which seem to be aligned along a northwest-southeast axis, along with the gold-bearing zone intersected in the 2021 drilling, which notably intersected an interval of 0.9 g/t Au over 15.7 m (ref. press release of 12/14/2021). This news is very encouraging and follow-up work (additional trenching and drilling) will therefore be conducted in the metasediments in 2023.”

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Assay Quality Control

The channel sampling was carried out, described and sampled by Sirios personnel. Following a strict assay quality assurance and control program, blanks and certified reference materials were incorporated into the sampling sequence. Samples were assayed for gold by fire assay with an atomic absorption finish by ALS laboratories.

About the Cheechoo Property

The Cheechoo gold property is 100% owned by Sirios and consists of 225 claims covering an area of ​​118 km2divided 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 project’s most recent resource estimate (October 2020) delineated inferred resources of 2.0 million ounces of gold contained in 93.0 million tonnes at 0.65 g/t Auwith significant potential to increase this resource (BBA, PL. Richard, P. Geo.; J. Torrealba, P. Eng.; D. Evangelista, P. Eng., NI 43-101 Technical Report, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020).

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The scientific and technical content of this press release has been reviewed and approved by Jordi Turcotte, P.Geo., Dominique Doucet, P.Eng, Guillaume Doucet, P.Geo. and Alexandra Blanchette, P.Geo., qualified persons under National Instrument 43-101.

About Sirios

Sirios Resources Inc. is a Canadian-based mining exploration company focused on developing its portfolio of high-potential gold properties in the Eeyou Istchee James Bay region of Quebec.

Contact :
Dominique Doucet, P.Eng., President, CEO
Tel.: (514) 918-2867
[email protected]

Website : www.sirios.com

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; ot her 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 releases 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.

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