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Sirios Resources Inc. (SIREF)

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Previous Close0.0900
Open0.0880
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52 Week Range0.0686 - 0.1966
Volume25,000
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Market Cap12.502M
Beta (5Y Monthly)1.95
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EPS (TTM)-0.0140
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  • Sirios signs a 7,500m drilling contract with Boart Longyear for the Cheechoo Gold Project, Quebec
    GlobeNewswire

    Sirios signs a 7,500m drilling contract with Boart Longyear for the Cheechoo Gold Project, Quebec

    MONTREAL, March 24, 2021 (GLOBE NEWSWIRE) -- The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce the signing of a reverse circulation drilling contract with Boart Longyear. The drill contract will include a minimum 7,500 metre program to commence this summer on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. Reverse Circulation Drilling The campaign will be carried out using reverse circulation drilling (RC drilling), a reliable drilling technology widely used throughout the world. RC drilling is particularly advantageous for definition drilling in advanced projects targeting near-surface deposits. RC drills are significantly faster and less expensive than diamond drills, resulting in more holes drilled during this campaign and at a lower cost per meter. Due to the larger diameter of the drilled hole, RC drilling allows for larger, more representative samples, which is particularly more suitable for gold deposits where mineralization is erratically distributed (nugget effect). Sampling is also faster, since the RC cuttings are sent from the drill rig to the laboratory with fewer intermediate steps, such as eliminating delays related to core sawing. On the Cheechoo project, RC drilling will allow us to achieve our objective of deposit definition by providing reliable geological data in a more timely and cost-effective manner. Campaign Objective The objective of this summer's drilling program will be to better define the Cheechoo deposit and subsequently initiate a new resource estimate update (starting in 2022). This update is expected to convert a significant amount of the inferred resources to indicated resources. Improving the classification of the project's gold resources will allow us to improve the market valuation of the Cheechoo deposit as well as taking the project to a more advanced stage by completing a Preliminary Economic Assessment (PEA). The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng, President and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo. About Boart Longyear Established in 1890, Boart Longyear is the world’s leading provider of drilling services, drilling equipment and performance tooling for mining and drilling companies. About the Cheechoo Property The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant potential to increase this resource.1 About Sirios A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec, Canada. Sirios Resources Inc. is primarily focused on its Cheechoo gold discovery while actively exploring the high gold potential of its other properties. Neither 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, President & CEO, P.Eng.Tel. : (514) 918-2867ddoucet@sirios.com website : www.sirios.com 1 BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020

  • Column Leach Test Results Exceed Expectations for the Cheechoo Gold Project, Quebec
    GlobeNewswire

    Column Leach Test Results Exceed Expectations for the Cheechoo Gold Project, Quebec

    MONTREAL, Feb. 03, 2021 (GLOBE NEWSWIRE) -- The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce the results of metallurgical tests that were performed on approximately 500 kg of a composite sample material, representative of gold mineralization on the Cheechoo property. These tests, performed by the renowned firm KCA over several months in Reno, Nevada, were completed in January 2021. After 151 days of column leaching, with a crushing size of 6.3 mm, gold recoveries were 80% at 20°C and 76% at 4°C (Table 1). The tests were conducted at various temperatures to simulate conditions that could be encountered in an environment simulating crushed and stacked mineralized material in the Cheechoo Project area. The average gold recovery results obtained were 78%, which is higher than the typical gold recoveries for heap leach projects (55-75%) according to the Canadian Mining Journal.1 The tests also showed that reagent consumption remained low throughout the leaching process (average of 1.93 kg/t NaCN). Temp.Calculated Head Grade (g/t Au)Gold ExtractedConsumption of NaCN (kg/t)Addition Cement (kg/t)Days of LeachCrush Size (mm)Crush Type20°C0.96780%2.452.021516.3HPGR24°C0.80276%1.402.02 Table 1: Summary of Column Leach Work Dominique Doucet, founder and CEO of Sirios, stated: "Several gold processing options are being evaluated for the Cheechoo Project, including heap leach and conventional mill treatment. However, the results released today are very encouraging and clearly demonstrate that heap leach is a viable option for recovering gold from the Cheechoo deposit. Now that these tests have been completed, the next step for the project will be to conduct a definition drilling program planned for the summer of 2021, with the goal of completing a Preliminary Economic Assessment (PEA) study thereafter.” About heap leaching Column leach tests are metallurgical tests specifically designed to evaluate the gold recovery rate using the heap leach extraction method. Heap leaching is a method of recovering precious metals that is widely used throughout the world, particularly in the United States (Nevada, Colorado, Alaska). It is also the method used at the Eagle Gold mine in the Yukon (operated by Victoria Gold), one of the most recent gold mines to go into production in Canada (2020). In addition to mining a style of mineralization, similar to that of Cheechoo (free gold from a Reduced Intrusion-related Gold System), the Eagle Gold mine is located in northern Canada and operates in cold weather conditions similar to those found on the Cheechoo property. When the type of mineralization is appropriate (which seems to be the case for Cheechoo), heap leaching is a simple, low-cost process that can be very advantageous as it can result in significant savings in capital expenditures (CAPEX) and operating costs (OPEX), which can significantly improve a project's economics. The scientific and technical content of this press release has been reviewed and approved by Dominique Doucet, P.Eng. President and CEO of Sirios Resources Inc. and Jordi Turcotte, P.Geo., Senior Geologist, Qualified Persons as defined by NI 43-101. About the Cheechoo Property The Cheechoo gold property, wholly-owned by Sirios, is located in Eeyou Istchee James Bay, Quebec, less than 9 km from Newmont’s Eleonore gold mine. The latest resource estimate for the Cheechoo project (October 2020) estimated an inferred resource of 2.0 million ounces of gold contained in 93.0 million tonnes of rock at an average grade of 0.65 g/t Au, with significant potential to increase this resource.3 About Sirios A pioneer in the discovery of significant gold deposits in Eeyou Istchee James Bay, Quebec, Canada, Sirios Resources Inc. is focusing primarily on its Cheechoo gold discovery, while actively exploring for the gold potential of its other properties. Forward-Looking Statements: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Rules of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contact :Dominique Doucet, President, CEO, Eng.Tel. : (514) 918-2867ddoucet@sirios.comwebsite : www.sirios.com 1 Canadian Mining Journal, 2020-09-01, « Sorting through the heap », www.canadianminingjournal.com/features/sorting-through-the-heap 2 High Pressure Grinding Rolls3 BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020

  • Sirios files the NI 43-101 report of the resources estimate update for the Cheechoo gold project in Quebec
    GlobeNewswire

    Sirios files the NI 43-101 report of the resources estimate update for the Cheechoo gold project in Quebec

    Pit plan figure Pit plan figureMONTREAL, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Management of Sirios Resources Inc. (TSXV: SOI) ("The Company") is pleased to announce that Sirios has filed on SEDAR the technical report titled "Mineral Resource Estimate Update for the Cheechoo Project Eeyou Istchee James Bay, Québec, Canada", with an effective date of October 31st, 2020. The report, in compliance to the NI 43-101 standards and completed for the company by BBA Inc., h the resource estimate update of the Cheechoo gold project, located at Eeyou Istchee James Bay at Quebec. The updated resource shows an increase of 355,000 ounces of gold compared to its initial resource estimate, representing an increase of 22%. The report indicates that, based on an open-pit constrained model, the inferred resources are estimated at 1.955 million gold ounces (Moz) contained in 93.0 million tonnes (Mt) with an average grade of 0.65 grams of gold per tonne (g/t Au) (figure 1).Dominique Doucet, President and CEO of Sirios, states: " I want to congratulate our technical team, who within less than a year, significantly increased the resource estimate on our Cheechoo gold deposit."Figure 1 Plan view. The black-outlined conceptual pit contains the first resource estimate of 1.6 M oz of gold. The green-outlined grey conceptual pit contains the new resource estimate of 1.96 M oz of gold is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/607d49b0-9566-43b1-a022-df78992982e4The scientific and technical content of this press release has been reviewed and approved by Mr. Dominique Doucet, P.Eng. President and CEO of Sirios Resources Inc. and Mr. Jordi Turcotte, P. Geo. Senior Geologist who are “Qualified Persons” as defined by National Instrument 43-101. About the Cheechoo PropertyThe Cheechoo Property located 9 km from the Eleonore gold mine of Newmont at Eeyou Istchee James Bay, Quebec, is wholly owned by Sirios. The new resource estimate of the project (October 2020) delineated inferred resources of 1.96 million ounces of gold, with a significant potential to increase these resources.About SiriosFounded in 1995, Sirios Resources develops and explores its own mining exploration projects. Pioneer in the discovery of significant gold deposits in the Eeyou Istchee James Bay region of Quebec, Canada, over the years, Sirios is focusing on its flagship gold project Cheechoo, the 2016 discovery of the year in Quebec.Cautionary note regarding forward-looking informationThis news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.The estimate of Inferred Mineral Resources mentioned in this press release conform to National Instrument 43-101 standards and was prepared by Pierre-Luc Richard, P. Geo., independent qualified person, as defined by NI 43-101 guidelines. The effective date of the estimate is Octobre 31st 2020\. The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity.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 information :  Dominique Doucet, President, CEO, Eng.  ddoucet@sirios.com  Tel.: (514) 510-7961Website: www.sirios.com