Sirios files the NI 43-101 report of the resources estimate update for the Cheechoo gold project in Quebec
December 22 2020 - 9:00AM
Management of
Sirios Resources Inc. (TSXV: SOI)
("The Company") is pleased to announce that Sirios has filed on
SEDAR the technical report titled "Mineral Resource Estimate Update
for the Cheechoo Project Eeyou Istchee James Bay, Québec, Canada",
with an effective date of October 31st, 2020. The report, in
compliance to the NI 43-101 standards and completed for the company
by BBA Inc., h the resource estimate update of the Cheechoo gold
project, located at Eeyou Istchee James Bay at Quebec.
The updated resource shows an increase of
355,000 ounces of gold compared to its initial
resource estimate, representing an increase of
22%. The report indicates that, based on an open-pit
constrained model, the inferred resources are estimated at
1.955 million gold ounces (Moz) contained in
93.0 million tonnes (Mt) with an average grade of
0.65 grams of gold per tonne (g/t Au) (figure
1).
Dominique Doucet, President and CEO of Sirios,
states: " I want to congratulate our technical team, who within
less than a year, significantly increased the resource estimate on
our Cheechoo gold deposit."
Figure 1 Plan view. The black-outlined
conceptual pit contains the first resource estimate of 1.6 M oz of
gold. The green-outlined grey conceptual pit contains the new
resource estimate of 1.96 M oz of gold is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/607d49b0-9566-43b1-a022-df78992982e4
The scientific and technical content of this
press release has been reviewed and approved by Mr. Dominique
Doucet, P.Eng. President and CEO of Sirios Resources Inc. and Mr.
Jordi Turcotte, P. Geo. Senior Geologist who are “Qualified
Persons” as defined by National Instrument 43-101.
About the Cheechoo Property
The Cheechoo Property located 9 km from the
Eleonore gold mine of Newmont at Eeyou Istchee James Bay, Quebec,
is wholly owned by Sirios. The new resource estimate of the project
(October 2020) delineated inferred resources of 1.96 million ounces
of gold, with a significant potential to increase these
resources.
About Sirios
Founded in 1995, Sirios Resources develops and
explores its own mining exploration projects. Pioneer in the
discovery of significant gold deposits in the Eeyou Istchee James
Bay region of Quebec, Canada, over the years, Sirios is focusing on
its flagship gold project Cheechoo, the 2016 discovery of the year
in Quebec.
Cautionary note regarding
forward-looking information
This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Forward-looking information involves
risks, uncertainties and other factors that could cause actual
events, results, performance, prospects and opportunities to differ
materially from those expressed or implied by such forward-looking
information. Factors that could cause actual results to differ
materially from such forward-looking information include, but are
not limited to, capital and operating costs varying significantly
from estimates; the preliminary nature of metallurgical test
results; delays in obtaining or failures to obtain required
governmental, environmental or other project approvals;
uncertainties relating to the availability and costs of financing
needed in the future; changes in equity markets; inflation;
fluctuations in commodity prices; delays in the development of
projects; the other risks involved in the mineral exploration and
development industry; and those risks set out in the Company’s
public documents filed on SEDAR at www.sedar.com. Although the
Company believes that the assumptions and factors used in preparing
the forward looking information in this news release are
reasonable, undue reliance should not be placed on such
information, which only applies as of the date of this news
release, and no assurance can be given that such events will occur
in the disclosed time frames or at all. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise, other than as required by law.
The estimate of Inferred Mineral Resources
mentioned in this press release conform to National Instrument
43-101 standards and was prepared by Pierre-Luc Richard, P. Geo.,
independent qualified person, as defined by NI 43-101 guidelines.
The effective date of the estimate is Octobre 31st 2020. The
above-mentioned mineral resources are not mineral reserves as they
do not have demonstrated economic viability. The quantity and grade
of the reported Inferred Mineral Resources are conceptual in nature
and are estimated based on limited geological evidence and
sampling. Geological evidence is sufficient to imply but not verify
geological and grade or quality continuity.
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 information : |
|
Dominique Doucet, President, CEO, Eng. |
|
ddoucet@sirios.com |
|
Tel.: (514) 510-7961 |
Website: www.sirios.com |
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