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Sirios extends the auriferous mineralization of the Cheechoo deposit
MONTREAL, May 12, 2020 (GLOBE NEWSWIRE) -- Management of SIRIOS (TSX-V: SOI) is pleased to announce assay results of the first six drill holes, totaling 1,580 m
About this update from Sirios Resources, Inc.
[{"type":"text","content":" MONTREAL, May 12, 2020 (GLOBE NEWSWIRE) -- Management of SIRIOS (TSX-V: SOI) is pleased to announce assay results of the first six drill holes, totaling 1,580 metres, of the winter drilling campaign completed last March on the Cheechoo gold project at Eeyou Istchee James Bay, Quebec. Five drill holes, forming a section located west of the Cheechoo gold deposit, have all intersected the extension of the auriferous mineralization, confirming the current model. This recent mineralization, that is for the most part located outside the conceptual pit, has demonstrated the potential of increasing the resource toward the west. Drill holes #248, 249 and 254 ended in gold mineralization that continues at depth. Among the significant results: CH20-246: 2.2 g/t Au over 11.1 m, including 4.7 g/t Au over 4.6 m 1.2 g/t Au over 26.5 m CH20-248: 1.0 g/t Au over 19.6 m, including 4.6 g/t Au over 4.0 m CH20-253: 1.1 g/t Au over 12.5 m 0.5 g/t Au over 59.5 m The holes were stopped at a vertical depth of 250 m based on the current conceptual pit limits. While the recent mineralization was intersected in the bottom part of the holes, the casing has been left in place and these drill holes can be extended in the future if necessary. The first resource estimate, published in December 2019 and based on an open-pit model, resulted in an inferred resource of 1.6 million ounces of gold hosted in 71.0 million tonnes at an average grade of 0.69 grams of gold per tonne with a waste to ore strip ratio of 1.1: 1. In addition, a significant potential for increasing the current mineral resources has been identified with the possible extension of the pit to the west. This is what the current drill results seem to indicate, along with the possibility of adding an additional 25% more ounces of gold on the Cheechoo property in the event of an agreement with the owners of the neighbouring property can be reached to access this material). The resource estimate was defined using US $ 1,300 per ounce of gold and a cut-off grade of 0.3 g/t Au (ref. Press release of December 11, 2019, NI report 43-101, www.sirios.com). The significant results are illustrated on the vertical section and presented in the table below. SIGNIFICANT DRILL RESULTS #246, 248, 249, 251, 253, 2541 Drill...