MONTREAL, Feb. 28, 2023 (GLOBE NEWSWIRE) -- Management of SIRIOS RESOURCES INC. (TSX-V: SOI) is pleased to announce the start of the 2023 exploration program on its Aquilon gold property. The program is financed by Sumitomo Metal Mining Canada (Sumitomo), with Sirios as the operator. Sumitomo has an option to acquire up to an 80% interest in Aquilon, following an investment totaling $14.8M (ref. press release of 19/12/2022).
Work to be undertaken in the coming weeks will include:
- Large-scale till geochemical sampling survey to locate new undercover mineralized areas;
- Induced Polarization (IP) ground geophysical survey (approximately 40-line km) to define extensions of the known sulphide-associated gold showings and locate new showings;
- Series of mechanically excavated trenches focusing on several geological and geophysical targets. The trenches will be systematically sampled and mapped during the summer.
This winter program will be followed in the summer by intensive fieldwork including additional soil and rock sampling as well as geophysical and geological surveys in order to advance the property to a drill-ready stage by the end of 2023.
About the Aquilon Project
The Aquilon gold property consists of 140 mineral 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. To date, 32 gold showings have been discovered on the property. Drill intercepts on the Aquilon project are among the highest gold grades reported in Quebec (source: Sigeom), which includes 12,906.5 g/t Au over 0.2 m (Lingo showing), 3,527.4 g/t Au over 0.4 m (Moman showing) and 133.67 g/t Au over 0.8 m (Fleur-de-Lys showing) (ref. press releases of 26/06/2008 and 19/01/2011). More information is available on the recently updated Aquilon Project web page at sirios.com/en/our-projects/aquilon.
The scientific and technical content of this press release has been reviewed and approved by Roger Moar, P.Geo., qualified person under National Instrument 43-101.
About Sirios
Sirios Resources is a Canadian-based mining exploration company focused on developing its portfolio of high-potential gold and lithium properties in the Eeyou Istchee James Bay region of Quebec.
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. Forward-looking statements involve risks, uncertainties and other factors that could cause actual events, results, performance, expectations and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, but are not limited to: capital and operating costs that differ materially from estimates; the tentative nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other approvals; uncertainties related to the availability and cost of necessary financing in the future changes in financial markets; inflation; fluctuations in metal prices; delays in project development; other risks relating to the mineral exploration and development industry; and risks disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements contained in this news release are reasonable, readers should not place undue reliance on this information, which speaks only as of the date of this news release, and there can be no assurance that such events will occur or occur within the time periods presented. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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:
Dominique Doucet, P.Eng., President
Tel. : 514-918-2867
ddoucet@sirios.com
Website : www.sirios.com
