Sirios Increases Eclipse Drill Program to Over 3,000 Metres

MONTREAL, March 25, 2024 (GLOBE NEWSWIRE) -- Management of Sirios Resources Inc. (“Sirios” or the “Company”) (TSX-V: SOI; OTCQB: SIREF) is pleased to announce that, following the positive progress of the ongoing drilling program in the Eclipse high-grade gold area of its Cheechoo property, the program has been increased to more than 3,000 metres. The campaign is well underway and is expected to end shortly.

“Newmont's recent announcement of their intention to sell the neighbouring Éléonore gold mine at the same time that we are in the process of delineating high-grade gold mineralization in the Eclipse area means that any potential purchaser of this mine will certainly consider the Cheechoo deposit – which is currently the only quality gold resource in the vicinity of Éléonore – as a key strategic element for the enhancement of operations at this mine,” commented Dominique Doucet, CEO of Sirios.

“On the other hand, I am proud to point out that we have just recently granted access to our camp to Fury Gold Mines’ team to allow them to execute the drilling program recently announced on their neighbouring property. We hope that this beginning of logistical collaboration between our two companies will continue and intensify in the near future in order to promote the development of the area.”

The drilling program currently being conducted by Sirios aims to confirm the continuity of the high-grade Eclipse gold zone. Subsequently, Sirios will be able to assess the potential of this area for underground development using a ramp.

About the Eclipse Area
A high-volume resource of 1.4 million ounces of gold (indicated) and 500,000 ounces of gold (inferred) has already been delineated in the main area of the Cheechoo deposit (Figure 1). The Eclipse area includes a high-grade gold zone that is not included in this resource. For more information, see the Eclipse Area Presentation.

Figure 1: The three areas of the Cheechoo gold deposit.

About the Cheechoo Property
The Cheechoo gold property, 100% owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, 200 km east of Wemindji and less than 10 km from Newmont’s Éléonore gold mine. The property’s latest resource update delineated, for an open pit model, indicated resources of 1.4 million ounces of gold contained in 46.3 million tonnes at an average grade of 0.94 g/t Au, as well as inferred resources of 500,000 ounces of gold contained in 21.1 million tonnes at a grade of 0.73 g/t Au (ref.:  press release of 06/12/2022).