- Sirios Resources (SOI) has repurchased a significant portion of the royalty on the Aquilon property
- Sirios recently paid the sum of $200,000 to buy back three-quarters of the 1 per cent net smelter return royalty
- Earlier, Sirios had received a deadline extension for exercising the buyback before July 31, 2022 instead of June 30, in return for an amount of $25,000
- Sirios Resources Inc is engaged in the exploration and evaluation of mineral resources
- Sirios Resources Inc. (SOI) opened trading at $0.065
Sirios Resources (SOI) has repurchased a portion of the royalty on the Aquilon property.
The net smelter royalty was granted to a private investor last January.
As per the agreement, Sirios paid $200,000 to buy back three-quarters of the 1 per cent net smelter return royalty, which has therefore been reduced to 0.25 per cent.
Earlier, Sirios had received a deadline extension for $25,000.
In addition, the investor owning the net smelter royalty participated in the financing completed last week in order to maintain their share ownership of approximately 9 per cent in Sirios.
“We consider the royalty buyback we have just completed to be excellent news given the potential of our high-grade Aquilon gold property,” stated Dominique Doucet, President and CEO of Sirios.
“Work was already carried out last June on the property and we intend to continue to move forward in the coming months to relaunch and develop the Aquilon project,” he added.
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, Quebec, 10 km south of the Laforge-1 hydroelectric power station and is easily accessible by all-season roads.
Until now, 32 gold showings have been discovered on the property. Some drill intercepts on the Aquilon project are among the highest grades obtained in Quebec.
Sirios Resources Inc is engaged in the exploration and evaluation of mineral resources.
Sirios Resources Inc. (SOI) opened trading at $0.065.