MONTREAL, CANADA–(CCNMatthews – Jan. 29, 2007) – SIRIOS RESOURCES INC. (TSX VENTURE:SOI) announces that its partner Golden Valley Mines Ltd. reported the discovery of two high-grade gold occurrences on the CHEECHOO Gold Project, on property holdings adjacent to and in the immediate vicinity of “Les Mines OPINACA” Eleonore deposit located in the James Bay region of Northern Quebec. Based on the discovery of high-grade showings and the identification of prospective gold mineralized corridors in conjunction with the presence of unexplained geophysical and geochemical targets, SIRIOS’ partner Golden Valley is planning an expanded 2007 exploration program on its James Bay properties, currently budgeted to be a minimum C$ 1 million.
– “Letang” Showing: The showing is located in the southwest section of the Cheechoo A claim block. One rock sample assayed an impressive 209.24 g/t gold. The sample was collected from a quartz-fractured dioritic stock outcrop. Three new mineralized boulder fields were also delineated, bringing the total now to five. The better gold-bearing anomalous samples are hosted by either paragneiss, amphibolite or diorite which exhibit distinctive gold-copper, or gold-only, metal zonation patterns, suggestive of potentially multiple bedrock sources. Highlights of the sampling in this area included 2.14 g/t gold; 24.2 g/t silver and 2.74% copper and 1.65 g/t gold. The boulder fields are located down-ice and down slope from mineralized outcrop (“Letang Showing” Extension) and/or similar mineralized and altered “Roberto-style” rock along a 2.3 kilometre northwest-trending mineralized shear along the claim block.
– “Marchand” Showing: Nineteen grab-samples along the newly defined “Marchand” mineralized corridor (Cheechoo B-Sharks) assayed from 0.02 to as high as 11.96 g/t gold. Gold mineralization is associated with a foliated, silicified and garnetiferous paragneiss rock unit hosting up to 5% fine sulphides. The host structure is interpreted to extend a further 380 metres northeast where anomalous results were also reported in 2005. A sample located approximately 1.2 km to the southwest along a possible parallel structure to the south, contained strongly anomalous gold (0.42 g/t Au) in similarly altered and mineralized outcrops and in an area where a lake sediment gold anomaly has been identified. These samples occur along the northern flank of a regional AEM (airborne electromagnetic) geophysical anomaly.
– “Garrioch” Showing: A strongly anomalous gold assay of 0.39 g/t gold was also obtained along trend to the northeast with Everton Resources “Claude-Manuel Corridor” on the Cheechoo B block claims, referred to previously (ref.: November 9, 2006 Golden Valley’s News Release) as the “Cheechoo East corridor”. The rock sample was collected from a rusty and garnetiferous paragneiss outcrop.
No follow-up field work has yet been completed on these new prospective mineralized corridors since discovery in the late fall of 2006.
In addition to the sample results reported above, a number of anomalous mineralized areas were outlined either through rock and/or channel sampling that warrant ground follow-up elsewhere on the property. A total of 530 rock and channel samples were collected by Golden Valley during its 2006 combined Phase I and II programs on CHEECHOO.
SIRIOS owns a 100% interest in the CHEECHOO and SHARKS properties forming the CHHECHOO Gold Project. Golden Valley is earning a 60% interest following exploration expenditures of C$ 1M on each property respectively and may increase its interest by 20% by completing a bankable feasibility study. Please refer to the December 3 and 16, 2004 press releases for additional information.
In addition to the CHEECHOO and SHARKS properties, covering 300 square km, SIRIOS owns close to 4,000 claims forming the PONTAX, KUKAMES and OPINACA NORD properties, which are covering more than 2,000 square km in the vicinity of the Goldcorp’s Eleonore gold deposit, James Bay, Quebec.
This press release was prepared by Dominique Doucet, P. Eng., President of Sirios, Qualified Person and based on information transmitted by Golden Valley Mines Ltd.
The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
For more information:
Dominique Doucet, CEO