While 2022 is almost over, junior mining companies are still busy as ever with many ramping up for future exploration activities.
Take Montréal-based Sirios Resources Inc. (TSXV:SOI), who recently reported assay results from channel samples collected last summer, which included 2.65 g/t Au over 11 metres at the Cheechoo project.
An exciting discovery:
The company noted that this confirms the extension of gold mineralization beyond the tonalite and into the meta-greywackes outside of the conceptual pit of the 2020 mineral resource estimate (MRE). These results highlight a new type of gold mineralization hosted in metasediments.
The Cheechoo gold property is 100 per cent owned by Sirios and consists of 225 claims covering an area of 118 km2, divided into three non-contiguous blocks. It is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine and is easily accessible by all-season roads. The project’s most recent resource estimate from October 2020 delineated inferred resources of 2.0 million ounces of gold contained in 93.0 million tonnes at 0.65 g/t Au, with significant potential to increase this resource. An update to the resource estimate is currently underway.
In August and September, Sirios carried out trenching and channel sampling in the metasediments to the east of the conceptual pit of the Cheechoo gold deposit. A total of 218 samples from 216 metres of channels were sent to the ALS laboratory in Val-d’Or for analysis.
The high-grade gold results obtained during this program are hosted in metasediments with 2 per cent to 3 per cent pyrrhotite and arsenopyrite, as well as millimetric quartz-feldspar veinlets, which represents a new geological context for gold mineralization for the Cheechoo deposit.
Intrusive rocks (tonalite and pegmatite) were previously thought to be the only host rocks for gold mineralization at the deposit. The discovery of these new high-grade gold zones in the metasediments now confirms the presence of gold mineralization more than 400 metres outside of the tonalite.
Mineralization at Cheechoo spreads for more than 1,400 metres along the tonalite/meta-sediments contact.
Management’s take:
Sirios’ President and CEO, Dominique Doucet, P.Eng. called these results exceptional, noting that they had been obtained for the first time at surface within the metasediments.
He added that this under-explored geological unit adds major exploration potential to the Cheechoo project, as it represents a new sector favourable for gold mineralization that extends several hundred meters to the east.
“Our summer campaign proved to be a great success thanks to the results of these new trenches, which seem to be aligned along a northwest-southeast axis, along with the gold-bearing zone intersected in the 2021 drilling, which notably intersected an interval of 0.9 g/t Au over 15.7 metres. This news is very encouraging and follow-up work (additional trenching and drilling) will therefore be conducted in the metasediments in 2023.”
A strong property portfolio:
This builds upon earlier success the company has seen, having repurchased a portion of the royalty on the Aquilon property.
The Aquilon property includes more than thirty gold showings on surface, including some with very high grades, most notably 560 g/t Au over 0.49 of a metre, 834 g/t Au over 1.71 metres and 3,230.89 g/t Au over 0.8 of a metre.
The Aquilon gold property is 100-per-cent-owned by Sirios and consists of 140 claims covering an area of 68 km2. It is located in Eeyou Istchee James Bay, Québec, 10 km south of the Laforge-1 hydroelectric power station and is easily accessible by all-season roads.
Founded in 1995, Sirios is engaged in the exploration and evaluation of mineral resources. The company aims to discover a world-class gold deposit in the James Bay region in Québec. In addition to the flagship Cheechoo project, the company owns projects such as Aquilon, Pontax, Maskwa and Niska.
Investment corner:
Just because the year is almost over doesn’t mean there isn’t excitement still simmering in the resource sector. Sirios Resources Inc. is a pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Québec, focusing primarily on its Cheechoo gold discovery while actively exploring the gold potential of its other properties. This operation is in a strong position to execute its goals at the project in addition to other projects in the company’s portfolio.
After a significant amount of exploration in 2021, Sirios Resources is set to continue its pace early in the new year. Investors have plenty of activity to look forward to, including the new mineral resource estimate update for the Cheechoo project.
FULL DISCLOSURE: This is a paid article produced by the Market Herald.
