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More significant results for Sirios

Sirios Resources (TSXV: SOI) has reported “significant results” from all recent drill holes at its Cheechoo gold project in Quebec, including 0.8m at 187g/t gold from 342m.
More significant results for Sirios More significant results for Sirios More significant results for Sirios More significant results for Sirios More significant results for Sirios

Sirios’ maiden resource for Cheechoo in Quebec is nearing

Staff reporter

The above-mentioned intercept was in one of two drill holes that intersected both Vein 112 and the Jordi zone, where a highlight included 1.3m at 106g/t from 82.2m.

The company is aiming to produce a maiden resource by mid-2019 for the project, which is less than 10km from Newmont Goldcorp's Éléonore gold mine.

The miner has a 16% stake in Sirios, according to a presentation last month.

Sirios is expecting the assay results for the remaining 10 holes from its winter drilling programme soon.

The company raised C$1.1 million (US$0.8 million) in April at 32c per flow-through share and a further $515,000 this month in the first closing of a non-brokered private placement at 20c per unit.

Its shares, which had been as low as 12c in December, shot up towards 30c earlier this year on positive drilling results. 

They have since softened but gained 3% or half-a-cent to 16.5c yesterday, to capitalise Sirios at $25 million (US$18.6 million).