Brought to you by: Advance Gold (AAX.V) and Sirios Resources (SOI.V)
Our new member of the website sponsorship program, Sirios Resources (SOI.V), announced bonanza grade gold from their Cheechoo project in Quebec. On the Monday of PDAC.
They had seen high-grade in the past, but this new bonanza grade gold could be a gamechanger. It is very close to surface, and wide open for more drilling.
I have been watching the exploration of Cheechoo for several years. It is well located in Quebec, 10km from Goldcorp’s multi million ounce Eleonore gold mine, found by Virginia Gold.
Sirios is currently working on a resource estimate for an area where they have focused a lot of drilling. They now have this new bonanza grade gold zone to go after as well.
In past interviews and chats with Dominique Doucet, we had discussed the area they have drilled extensively. As well as other prospective targets on their ground. I was looking through their recent corporate presentation and found their 3D model of where they have done most of the drilling.
One thing in particular I would like to point out is the area to the east of the big gold zone of the model. In the inset, right below the W is where they hit the new bonanza grade gold.
This next map, shows the location of the drill holes on a plan view. As you can see the extensive drilling, on the east side of the inset image, is where the gold zone is that they are doing a resource estimate on. Then to the west, you can see where the new bonanza grade gold zone is located.
This above image is the drill hole plan map from Mar. 4/2019 news release. At the bottom of the map, you can see a vein system that goes across the claim boundary. You can see a series of holes on the Cheechoo side of the claim boundary. Below are highlights of the drill holes with high-grade and bonanza grade gold.
CH19-199: 45.9 g/t Au over 1.4 m;
CH19-201: 219.0 g/t Au over 1.0 m;
CH19-202: 174.3 g/t Au over 2.0 m including 315.0 g/t Au over 1.1 m;
CH19-204: 17.6 g/t Au over 3.5 m.
They point out in the news release that five out of the six drill holes, targeting the the high-grade gold zone, hit the zone. This zone can be traced along strike over approximately 150 metres and 130 metres of depth. The true width ranges from 0.9 m to 3.0 m. With the above gold grades, this zone is shaping up from size and high-grade potential, and it remains open along strike and at depth. They are drilling more holes to further test this high-grade to bonanza grade gold zone.
From the drill hole plan map, a few things stood out. You can see in red, a vein system, they believe what they hit is the extension of that vein system. Which begs the question, can there be more zones. Not surprising with the grades they hit, there was significant quantities of visible coarse gold in the core.
Sirios currently has three drill rigs working, they have completed 31 drill holes, for a total of approximately 6,550 metres, they have 10,000 metres planned for the current program.
As the old mining saying goes, grade is king. Which has certainly been the case over the past few months as gold has gained strength, especially concerning the gold exploration stocks.
Bonanza grades are even more kingly. Especially if you can get continuity to go with those grades. I will be looking forward to additional drilling in this bonanza gold area to expand along strike and depth, and the resource estimate.
I’m noticing as gold has been improving since the last quarter of 2018, more investors are becoming aware of how much the industry need new gold discoveries.
Sirios and other companies with quality gold projects are more than due for repricing, there just aren’t enough. Whether that is bulk mining or bonanza grade gold, more are needed and Sirios has outstanding prospects for both.
Be my guest to share this report on your social media and email to friends that follow the gold explorers. Your efforts to promote my work is greatly appreciated, especially concerning sponsors, my new sponsor is definitely a great one for folks interested in exploration for gold to check out.
All the best,
Allan Barry Laboucan
Allan Barry Reports
Advance Gold (AAX.V)
P.S. my reports are for information purposes only, before making any investment decisions it is important to do your homework and speak with your financial advisers.