MONTREAL, June 12, 2024 (GLOBE NEWSWIRE) — Management of Sirios Resources Inc. (TSX-V: SOI) is pleased to announce the start of the summer exploration program on its Aquilon gold property in the Eeyou Istchee James Bay region, in partnership with Sumitomo Metal Mining Canada Ltd. (Sumitomo). A soil geochemical survey (B horizon) will be initiated this week as a follow-up on the gold anomalous areas delineated during the property-wide soils geochemical survey completed in 2023. Some of the anomalous areas lie outside of the known gold mineralization and are hence considered as new prospective exploration targets. The in-fill soils geochemical survey will consist of approximately 1,000 samples collected every 50 m over sampling lines spaced at 100 m interval.
In addition, a series of mechanical strippings will be carried out over selected targets based on their geochemical signature but also evaluated from the re-interpretation of structural and geological context recently completed by the exploration team. A geological mapping and channel sampling program will be carried out during fall 2024 over all the strippings.
This exploration program is designed to generate targets to a drill-ready stage by the beginning of 2025.
The current exploration program is financed by Sumitomo, with Sirios as operator. Sumitomo has the option to earn an 80% interest in the Aquilon project by making an investment of $14.8 million (ref. press release of 12/19/2022).
About the Aquilon Project
The Aquilon gold property consists of 140 mineral claims covering an area of 68 km2. It is located in Eeyou Istchee James Bay, Quebec, 10 km south of the Laforge-1 hydroelectric power station and is easily accessible by all-season roads. To date, 32 gold showings have been discovered on the property. Drill intercepts on the Aquilon project are among the highest gold grades reported in Quebec (source: Sigeom), which includes 12,906.5 g/t Au over 0.2 m (Lingo showing), 3,527.4 g/t Au over 0.4 m (Moman showing) and 133.67 g/t Au over 0.8 m (Fleur-de-Lys showing) (ref. press releases of 26/06/2008 and 19/01/2011). More information is available on the recently updated Aquilon Project web page at sirios.com/en/our-projects/aquilon.
Roger Moar, P.Geo. and Dominique Doucet, P.Eng. qualified persons under NI 43-101 prepared and verified the technical information in this press release and reviewed the final version of the text.
About Sirios Resources
Sirios Resources is a mining exploration company based in Quebec, focused on developing its portfolio of high-potential gold properties in the Eeyou Istchee James Bay, Canada.
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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Dominique Doucet, Eng., President
Phone: 450-482-0603
[email protected]
Website: www.sirios.com
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