15% Increase in Gold Grade Based on Initial Sample Reanalysis at the Cheechoo Property, Quebec

MONTRÉAL, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The management of Sirios Resources Inc. (TSX-V: SOI) is pleased to announce results from the first batch of reanalysis completed on samples from previous drilling on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. A total of 359 samples were reanalyzed using 1 kg of material per sample at Agat's laboratory using the "LeachWELL" leaching technique. The recent assay results show an increase in the gold content of approximately 15% compared to previous assays performed on 50g of material.

The comparative statistical data obtained include:

• 21% Increase in average gold content when comparing each pair of assay results,
• 15% Increase in median gold grade from 0.33 g/t to 0.38 g/t,
• 17% Increase in favour of 1 kg analyses according to the linear trend line of the Q-Q (quantile-quantile) graph.
  

The average gold grade reported in the table above (0.51 g/t / 0.53 g/t) is lower than the current reported grade of the Cheechoo mineral resource estimate (0.65 g/t). This decrease is due to the selection of samples for reanalysis that excludes most of the pre-existing results above 2 g/t Au, as these samples have already been analysed using 1 kg of material according to Sirios’ sampling protocol in place for Cheechoo. The lower gold grade threshold for selecting samples for reanalysis using 1 kg of material was set at 0.2 g/t in order to be as close as possible to the mineral resource estimate cut-off grade defined for the project.

Previous work had identified that samples returning greater than 2 g/t gold show an increase in the gold content when assaying with 1 kg of material. Samples with a gold grade ranging between 0.2 g/t and 2 g/t make up approximately 38% of the total number of samples used in the current resource estimation and therefore represent a major part of the reanalysis program.

An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ff446e9-4481-46c9-9020-a2f63f07311c

This program is based on recommendations from Lynda Bloom, P.Geo. with Analytical Solutions Ltd., a leading authority in the field of exploration geochemistry and assay methods. The recommendations included using a larger sample size for assays, followed by a statistical study conducted by Sirios' geologists. Results of this study indicate that the measured gold content based on 1 kg samples is generally higher and more representative of the true gold grade than the sample analyzed with 50 g of material, which is more commonly analysed in the laboratory. This relationship between the measured gold content and the size of the analyzed sample is consistent with the mineralogical observations and data from the various metallurgical tests previously performed by Sirios and is typical of other deposits with a pronounced “nugget effect”.

Dominique Doucet, founder and CEO of Sirios, stated: "Following these encouraging results, the additional planned programs of reanalysis will be carried out in the coming months. In addition, a revision to Sirios’ assaying protocol will be applied to the current drilling campaign to increase the amount of assaying done using 1 kg of material. We believe that following the completion of this important reanalysis program, the likelihood of an upward revision to the average gold grade of the Cheechoo deposit is excellent. Drilling being carried out this summer and the reanalysis program will increase the quality of the Cheechoo deposit and possibly its average gold grade."

Assay quality control

For the re-assay program, 1 kg of reject material was taken from previous core samples to be assayed using the “LeachWELL” technique at AGAT Laboratories. This technique uses accelerated cyanide leaching equipment employing the patented LeachWELL™ reagent on 1 kg of pulverized material and was carried out over a 4 hours leaching period. After the leaching process, the residue was filtered and dried. The leached solution was analysed by ICP-MS for gold content and 50g of the residue was assayed by Fire Assay with an Atomic Absorption finish. The then combined analysis give the total gold content for the sample. A strict QA/QC program is in place by integrating blanks and certified reference standards to the reject sample sequence. Special certified reference standards (assay pills) have been used for assuring an adequate quality control on the 1 kg material assays.

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) included 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

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, both qualified persons under National Instrument 43-101.

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 the gold potential of its other properties.

Forward Looking Statements :

This press release contains "forward-looking statements" within the meaning of applicable Canadian securities laws based on expectations, estimates and projections as of the date of this press release. Forward-looking statements involve risks, uncertainties and other factors that could cause actual events, results, performance, expectations and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from those indicated in such forward-looking statements include, but are not limited to: capital and operating costs that differ materially from estimates; the tentative nature of metallurgical test results; delays or failures in obtaining required governmental, environmental or other approvals; uncertainties related to the availability and cost of necessary financing in the future changes in financial markets; inflation; fluctuations in metal prices; delays in project development; other risks relating to the mineral exploration and development industry; and risks disclosed in public filings of the Company on SEDAR at www. sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements contained in this news release are reasonable, readers should not place undue reliance on this information, which speaks only as of the date of this news release, and there can be no assurance that such events will occur or occur within the time periods presented. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable 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) 918-2867
ddoucet@sirios.com

website : www.sirios.com

¹ BBA, Mineral Resource Estimate Update for The Cheechoo Project, 31/10/2020

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