Announcement Date: 2023-01-16
Announcement Type: Deposit Estimation
Announcement Code: NI43-101
Company name: Sirios Resources Inc.
Project name: Cheechoo
Location: Canada
Commodities: Gold
Highlight: Updated Resource Estimate for Project
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: MONTREAL (QUEBEC) – Management of SIRIOS RESOURCES INC. (TSX-V: SOI) is very pleased to announce the updated resource estimate for its Cheechoo gold property. The Cheechoo deposit now includes 74% of the gold ounces classified as indicated resources. In addition, the gold grade of these indicated resources shows an increase of 45% over the 2020 resources. This resource update follows the 2021 definition drilling program totalling 6,836 m on Sirios’ 100%-owned Cheechoo property located in Eeyou Istchee James Bay, Quebec. The updated resource estimate (Table 1), based on an open pit development model, includes indicated resource of 1.4 million ounces of gold contained in 46.3 million tonnes at an average grade of 0.94 g/t Au, and an inferred resource of 0.5 million ounces of gold contained in 21.1 million tonnes at an average grade of 0.73 g/t Au. These excellent results were made possible by the 2021 definition drilling campaign, as well as the recent 1 kg re-assaying campaign. This work has allowed us to refine the geological modeling and improve the structural understanding of the high-grade zones. The improvement of the 3D model allowed for the revision of several interpolation parameters, including the variography and capping. In addition, a more advanced review
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