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Sirios gains on high-grade results at Cheechoo

Goldcorp-backed explorer Sirios Resources (TSXV: SOI) has reported 1.1m at 315g/t gold among highlights from the first six drill holes in the current campaign at its Cheechoo property, confirming the high-grade Eclipse zone at expected depths.
Sirios gains on high-grade results at Cheechoo Sirios gains on high-grade results at Cheechoo Sirios gains on high-grade results at Cheechoo Sirios gains on high-grade results at Cheechoo Sirios gains on high-grade results at Cheechoo

Goldcorp-backed explorer aims for resource estimate at Cheechoo

Staff reporter

Cheechoo lies within 10km of Goldcorp's Éléonore mine in Quebec's Eeyou Istchee James Bay region.

Sirios recently upgraded the camp at its flagship property and added a third drill rig to the programme earlier this month, to accelerate drilling as it aims for a resource estimate in the second quarter.

It said 31 holes and 6,550m had been completed of the expected 10,000m campaign.

Other highlights from the Eclipse zone included 3.5m at 17.6g/t from 137.5m and 1.4m at 45.9g/t from 27.9m.

Sirios interprets Eclipse as the depth extension of the high-grade vein systems of the Moni surface showing on the neighbouring Eastmain Resources-operated Eleonore South joint venture property.

Sirios raised C$2.54 million (US$1.9 million) in a flow-through placement at 22c per share in November.

Goldcorp holds 15% of Sirios.

Sirios shares gained 10.87% yesterday to 25.5c, towards the upper end of its 52-week range of 12-29.5c, capitalising it at $38 million.