Sirios Resources Reports Promising Drill Results at Cheechoo Gold Project in Quebec

Sirios Resources Inc., a Canadian mineral exploration company, has announced positive drilling results from its ongoing exploration program at the Cheechoo gold project in Quebec. The company reported that the latest drill holes intercepted significant gold mineralization, further confirming the potential of the project.

The Cheechoo property, located in the Eeyou Istchee James Bay region of Quebec, is a joint venture between Sirios Resources and Newmont Corporation. The project covers an area of 75 square kilometers and is situated along the Opinaca River, approximately 320 kilometers north of Matagami.

According to the press release issued by Sirios Resources, the recent drilling campaign focused on testing the continuity and extension of the known gold mineralization at the Cheechoo deposit. The company reported that several drill holes encountered high-grade gold intersections, including 5.4 grams per tonne (g/t) gold over 28.5 meters and 3.2 g/t gold over 16.7 meters.

Dominique Doucet, President and CEO of Sirios Resources, expressed satisfaction with the drilling results, stating, "These new results continue to demonstrate the potential of the Cheechoo project to host a significant gold deposit. We are encouraged by the consistency and continuity of the mineralization encountered in the drill holes."

The Cheechoo project has been the focus of extensive exploration activities since the initial discovery of gold mineralization in 2010. Previous drilling campaigns have delineated a significant gold resource, with an indicated resource of 1.6 million ounces of gold and an inferred resource of 0.4 million ounces of gold, as reported in the company's latest resource estimate.

Sirios Resources plans to continue its drilling program at Cheechoo to further expand the known gold mineralization and advance the project towards a preliminary economic assessment. The company has allocated a substantial budget for exploration activities in 2024, with the goal of unlocking the full potential of the Cheechoo project.

The Eeyou Istchee James Bay region has seen increased exploration activity in recent years, driven by the discovery of several significant gold deposits. The success of projects like Cheechoo has attracted the attention of major mining companies and investors, highlighting the prospectivity of the region for gold exploration.

Sirios Resources remains committed to responsible exploration practices and maintains strong relationships with local communities, including the Cree Nation of Eeyou Istchee. The company has implemented comprehensive environmental and social management plans to minimize the impact of its exploration activities on the surrounding environment and communities.

As Sirios Resources continues to advance the Cheechoo project, the company is well-positioned to benefit from the growing demand for gold and the favorable market conditions for precious metals. The encouraging drilling results at Cheechoo highlight the potential of the project to become a significant gold producer in the future, supporting the economic development of the region and delivering value for shareholders.

Key Takeaways

• Sirios Resources reports positive drilling results at Cheechoo gold project in Quebec.
• Drill holes intercepted high-grade gold mineralization, confirming project's potential.
• Cheechoo project has an indicated resource of 1.6M oz and inferred resource of 0.4M oz gold.
• Sirios plans to continue drilling to expand known mineralization and advance project.
• Cheechoo project highlights prospectivity of Eeyou Istchee James Bay region for gold exploration.