SIRIOS Resources Inc.

TSX VENTURE : SOI


SIRIOS Resources Inc.

January 13, 2014 17:38 ET

SIRIOS Resources Inc.: More Than Eight Gold Zones Intersected by Three Drill Holes CHEECHOO Project, Eleonore Mine Region, James Bay, Quebec

MONTREAL, QUEBEC--(Marketwired - Jan. 13, 2014) - SIRIOS RESOURCES INC. (TSX VENTURE: SOI) announces the assays results from the four drill holes that were recently executed on the Cheechoo gold project located less than 10 km from the Eleonore gold mine of Goldcorp in James Bay, Quebec. More than eight new gold zones were intersected by three drill holes that were aiming and that intersected tonalitic intrusion. These new holes confirmed a low grade gold envelope with a minimum area of 250 x 525 metres with a depth reaching up to 200 metres vertically. This envelope is open in depth and in every direction except for its south-east portion.

Visible gold was observed in 12 core samples of 0.5 metre to 1 metre taken from different zones in drill holes #9, 10 and 12 (ref. to press releases in October 2013). Seven of these samples graded between 11.05 g/t and 47.9 g/t Au while five others graded between 0.05 g/t and 3.72 g/t Au. The gold zones with a weighted average greater than 1 g/t are summarized in the following table:

Interval
(metres)
Weighted average
of gold grade (g/t)
2.0 15.25
2.0 7.37
20.8 2.00
14.0 1.74
29.4 1.45
6.8 1.41
26.0 1.28
34.0 1.08

Given that the orientation and the shape of the gold zone are not yet defined, it is impossible to know the true widths of the mineralized sections. Only by a systematic drilling can the orientation, the form and the continuity of the different gold zones be defined.

Dominique Doucet, President of Sirios stated, "The new drill holes, in addition of confirming a large low-grade gold envelope, intersect zones with a higher gold grade. It represents a significant progress for the project which counts only six drill holes in the gold-bearing tonalitic intrusion. We still believe that we have not yet found the core of the gold system and estimate there is a high potential sector with an area of at least 2 square km as defined by prospecting, geophysical and geochemical surveys. Prioritized diamond drilling on this sector should be undertaken in the next exploration campaign."

CHEECHOO 2013 DIAMOND DRILLING'S MAIN ASSAYS RESULTS

Drill hole #
CH-919-13-
Collar Position
UTM Nad 83
Azimuth
(Degrees)
Plunge From
(m)
To
(m)
Interval
(m)
Au
(g/t)
09 438352E 5830237N 270° 45° 9.3 72.0 62.7 0.53
incl. 27.0 68.0 41.0 0.74
incl. 63.4 65.4 2.0 7.37
incl. 64.0 64.8 0.8 *12.70
123.8 (EOH) 150.0 26.2 0.42
Total weighted average of the drill hole
9.3

(EOH) 150.0

140.7

0.37
10 438615E 5830263N 235° 45° 7.0 44.3 37.3 *0.41
incl. 20.0 26.8 6.8 1.41
58.0 60.0 2.0 15.25
incl. 58.0 59.0 1.0 29.70
114.5 183.0 68.5 0.68
incl. 114.5 155.0 40.5 0.97
incl. 129.0 155.0 26.0 1.28
incl. 140.4 143.0 2.6 *5.91
incl. 140.4 140.9 0.50 *16.65
207.0 221.0 14.0 1.74
incl. 213.4 219.0 5.6 4.10
incl. 216.3 216.8 0.5 *28.00
229.0 (EOH) 300.0 71.0 0.80
incl. 254.2 283.6 29.4 *1.45
incl. 267.4 267.9 0.5 *47.90
Total weighted average of the drill hole
4.8

(EOH) 300.0

295.2

0.61
12 438773E 5830233N 235° 45° 5.0 39.0 34.0 1.08
incl. 7.0 20.0 13.0 2.23
incl. 11.3 14.2 2.9 6.69
incl. 11.3 11.8 0.5 *30.20
93.0 (EOH) 150.0 57.0 0.89
incl. 123.7 144.5 20.8 2.00
incl. 136.0 143.5 7.5 4.70
incl. 136.0 138.0 2.0 13.42
incl. 136.0 137.0 1.0 25.90
incl. 143.0 143.5 0.50 *11.05
Total weighted average of the drill hole
3.4

(EOH) 150.0

146.6

0.64

*: Visible gold (EOH): End of hole

Similar to the drill holes undertaken in 2012, drill hole #9, #10 and #12 show a fine and weak dissemination of pyrrhotite and arsenopyrite over large widths in a silicified tonalite (granitic intrusive rock). Numerous quartz veinlets cross-cut the tonalite. The presence of localized gold bearing pegmatites was also observed in some drill holes. The meta-greywacke, intersected on almost the whole length of drill #11, has gold anomalies ranging between 0.13 g/t and 0.34 g/t over intervals of 5 to 10 metres. It is also less mineralized than the tonalite.

The four drill holes, totalizing 750 metres, completed on the Cheechoo gold project are situated less than 15 km from the Eleonore gold mine belonging to Goldcorp which the production is planned to begin at the end of 2014. Recall that Sirios signed an agreement last summer with GoldenValley (TSX VENTURE:GZZ) for the gold properties Cheechoo and Sharks ("Cheechoo gold project") to, upon completion of certain obligations and counterparties, increase its current interest from 45% to 100% (ref. press release December 9, 2013). Sirios is the operator of the project.

Assaying Quality Control

A total of 728 drill core samples were collected, sawed in half, with one half sent to a commercial laboratory for analysis and other half retained for future reference. A strict QA/QC program was followed by integrating blanks and certified reference materials to the drill core samples, all of which were prepared by IOS Services Géoscientifiques inc. of Chicoutimi, and assayed for gold by fire assay and atomic absorption finish (AA23) by the ALS Minerals laboratories in Val d'Or, Quebec. Assays on the highest grades were duplicated in the laboratory. Samples grading more than 10 g/t were re-assayed by fire assay with gravimetric finish. These samples along with the ones with visible gold will be tested for coarse gold.

This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person pursuant to National Instrument 43-101.

Statements 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.

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.

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