MONTREAL, QUEBEC--(Marketwired - April 23, 2014) - SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces that the detailed helicopter-borne magnetometric survey declared in February has been completed on the Cheechoo gold property in James Bay, Quebec. The survey allowed the localization of four distinct sectors having similar geophysical characteristics to the gold zone already discovered by drilling. These sectors must, however, go through detailed prospecting and systematic rock sampling before outlining new drilling targets.
The reopening of the camp on the property is currently taking place and the transport of fuel as well as equipments through the winter road continues in order to begin very shortly the drilling and prospecting programs of 2014.
Recall that six drill holes completed on Cheechoo had previously localized a low-grade gold envelope with a minimum area of 250 X 525 metres and to a depth of 200 metres vertically (press release January 13, 2014). This envelope remains open at depth and in all directions except the south-east end.
The Cheechoo gold project is situated at less than 10 km from the Éléonore gold mine of the producer Goldcorp which the beginning of the production is planned at the end of 2014. This world-class deposit contains 4.03 million ounces of proven and probable gold mineral reserves and 4.10 million ounces of inferred gold mineral resources (Source: Goldcorp's press release, March 28, 2014). Sirios concluded in 2012 an agreement with Golden Valley Mines Ltd involving the Cheechoo property that, upon completion of certain obligations and counterparties, will increase its current interest from 45% to 100% (Press release December 9, 2013). Sirios is the operator of the project.
Sirios has 43,092,736 common shares issued and outstanding and has a working capital of approximately $ 1.1 million.
This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person pursuant to National Instrument 43-101
Stateents in the release that are "forward-looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. We undertake no duty to update any forward-looking statement to conform the statements to actual results or changes in our expectations.
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