Sirios Will Begin a Drilling Campaign on The Aquilon Gold Project in Eeyou Istchee James Bay, Quebec
Rhea-AI Summary
Sirios Resources has announced plans for a diamond drilling program at their Aquilon gold project in Eeyou Istchee James Bay, Quebec. The program, scheduled for early summer, will cover approximately 5,000 meters and target ten sites identified through recent 2024 surveys.
The drilling initiative is fully funded by Sumitomo Metal Mining Canada, with Sirios serving as the operator. These new drilling targets are located in an area separate from the previously known gold showings. Notably, Sumitomo has an option agreement to acquire an 80% stake in the Aquilon project through a $14.8 million investment commitment.
Positive
- Secured funding from Sumitomo Metal Mining Canada for 5,000-meter drilling program
- Strategic partnership with Sumitomo includes potential $14.8M investment
- Company maintains operator status on the Aquilon project
- 10 new drilling targets identified from 2024 surveys
Negative
- Potential 80% ownership dilution of Aquilon project to Sumitomo
- Drilling targets are located away from main known gold showings, indicating exploration risk
News Market Reaction – SIREF
On the day this news was published, SIREF declined 14.29%, reflecting a significant negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Montreal, Quebec--(Newsfile Corp. - April 30, 2025) - The management of Sirios Resources Inc. (TSXV: SOI) is pleased to announce that a diamond drilling program will be carried out at the beginning of the summer on the Aquilon gold project, located in Eeyou Istchee James Bay, Quebec.
This program, totaling approximately 5,000 meters, will test around ten targets resulting from the compilation and interpretation of the latest surveys conducted in 2024 on the project. These targets are in an area distinct from the main known gold showings.
The drilling program is funded by Sumitomo Metal Mining Canada (Sumitomo), with Sirios as operator. Sumitomo has the option to acquire an
About the Aquilon Project
The Aquilon gold project consists of 140 mineral claims covering an area of 68 km². It is located in Eeyou Istchee James Bay, Quebec, 10 km south of the Laforge-1 hydroelectric power station and is easily accessible by all-season roads. To date, 32 gold showings have been discovered on the project. Some drill intercepts from the Aquilon project are among the highest grades obtained in Quebec, including 12,906.5 g/t Au over 0.2 m (Lingo showing), 3,527.4 g/t Au over 0.4 m (Moman showing), and 133.67 g/t Au over 0.8 m (Fleur-de-Lys showing) (ref. press releases of 26/06/2008 and 19/01/2011). Additional information is available on the recently updated Aquilon webpage at sirios.com/en/aquilon.
Roger Moar, P.Geo., a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.
About Sirios Resources
Sirios Resources is a mining exploration company based in Quebec, focused on developing its portfolio of high-potential gold projects in the Eeyou Istchee James Bay, Canada.
Cautionary Note Regarding 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.sedarplus.ca. 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 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.
Contact:
Dominique Doucet, Eng., President
Phone: 450-482-0603
info@sirios.com
Website: www.sirios.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250118
FAQ
How many meters will Sirios (SIREF) drill at the Aquilon gold project in 2025?
What is Sumitomo's investment commitment in Sirios (SIREF) Aquilon project?
Where is Sirios (SIREF) Aquilon gold project located?
What areas will Sirios (SIREF) target in their 2025 drilling program?
Who is funding Sirios (SIREF) 2025 drilling program at Aquilon?
