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Sirios Resources Announces Maiden Mineral Resource Estimate for Cheechoo Gold Deposit, James Bay Territory
MONTREAL, Dec. 11, 2019 (GLOBE NEWSWIRE) -- Management of SIRIOS RESOURCES INC. (TSX-V: SOI) is pleased to announce its maiden resource estimation on the Cheech
About this update from Sirios Resources, Inc.
[{"type":"text","content":" MONTREAL, Dec. 11, 2019 (GLOBE NEWSWIRE) -- Management of SIRIOS RESOURCES INC. (TSX-V: SOI) is pleased to announce its maiden resource estimation on the Cheechoo gold property, wholly owned by Sirios, located in Eeyou Istchee James Bay, Quebec. The resource estimation, based on an open-pit constrained model, results in: Inferred resources containing 1.6 million ounces of gold, from 71.0 million tonnes at an average grade of 0.69 grams of gold per tonne; Significant upside for expanding the maiden mineral resources with the potential to add an additional 25% more ounces that have been outlined on the Cheechoo property, but require an agreement with the neighbouring property to access this material. This resource estimation (Table 1) excludes the gold mineralization outlined between the south side of the current resource pit and the southern border of the property, as shown in the figures below (Figures 1 and 2). This maiden mineral resource is situated 100% on Sirios’ property and is tabulated based on the variable sensitivities to the cut-off grade in Table 2. Dominique Doucet, President and CEO, states \"We are very pleased with our maiden mineral resource estimation for the Cheechoo project. This is a significant milestone for the company, and we are quite confident that in the near future, we can increase the grade and size of the deposit with additional work and negotiations with adjacent property owners. Our project has numerous positive characteristics, that include excellent gold recovery, as shown by our recent metallurgical work, a low strip ratio of 1.1:1, proximity to existing infrastructure and excellent exploration potential, to name a few.\" Table 1: Pit-constrained Inferred Mineral Resource Estimate for the Cheechoo Project Classification Tonnage Grade Ounces (t) Au (g/t) Au (oz) Inferred 71,000,000 0.69 1,600,000 Notes to the MRE Table 1: The independent qualified person for the 2019 MRE, as defined by NI 43-101 guidelines, is Pierre-Luc Richard, P. Geo., of BBA Inc. The effective date of the estimate is December 6, 2019. These mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of reported Inferred resources in this MRE are uncertain in nature and there has been insufficient exploration to define these resources as Indicated or Mea...