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Be the first with the news that moves the market- Sirios Resources (SOI) has posted the final assay results from a 15,000-metre drill program at the Cheechoo gold property in Quebec
- The company intersected three grams per tonne gold over 46.9 metres, which included a stunning 158.1 grams per tonne gold result over 0.8 metres
- Assays from another drill hole hit 10.3 grams per tonne gold over 12.1 metes, which included 78.9 grams per tonne gold over 1.5 metres
- The company now has the requisite data needed to build a preliminary economic assessment of the property
- Sirios Resources (SOI) is up 16 per cent and is trading at C$0.21 per share
Sirios Resources (SOI) has posted the final assay results from drilling work at the Cheechoo gold property in Quebec.
The 15,000-metre program was completed in March, with the final assays only being released today.
The company intersected three grams per tonne gold over 46.9 metres, which included a stunning 158.1 grams per tonne gold result over 0.8 metres.
Assays from another drill hole hit 10.3 grams per tonne gold over 12.1 metes, which included 78.9 grams per tonne gold over 1.5 metres. The two holes were drilled outside of the site’s past-producing open pit mine.
On the cusp of the pit, assays were also promising, at 1.8 gram per tonne gold over 116 metres, which included 19.5 grams per tonne gold over 7.5 metres and 147.9 grams per tonne gold over 0.8 metres.
The results identified multiple gold zones, but more pleasingly for investors, the company stated the work has produced the information required to develop a preliminary economic assessment for the property.
President and Founder of Sirios, Dominique Doucet said that the fieldwork program had continued to yield positive results.
“The recent drilling program confirms our gold mineralization model and will probably allow us to increase the size of the resource for the next update.
“In the upcoming months, we plan to pursue the development of the project on multiple fronts; including the metallurgical tests, verifying the potential of new ore treatment procedures, as well as the undertaking of a definition drilling campaign to convert inferred resources into indicated resources,” he said.
Sirios Resources (SOI) is up 16 per cent and is trading at C$0.21 per share at 10:15 am EDT.
