{"id":6854,"date":"2024-03-18T09:09:27","date_gmt":"2024-03-18T13:09:27","guid":{"rendered":"https:\/\/next.sirios.com\/?p=6854"},"modified":"2026-04-01T09:51:46","modified_gmt":"2026-04-01T13:51:46","slug":"sirios-signed-an-option-agreement-for-the-south-and-west-blocks-of-its-cheechoo-property","status":"publish","type":"post","link":"https:\/\/www.sirios.com\/en\/sirios-signed-an-option-agreement-for-the-south-and-west-blocks-of-its-cheechoo-property\/","title":{"rendered":"Sirios signed an Option Agreement for the South and West blocks of its Cheechoo Property"},"content":{"rendered":"

Montreal, QC<\/strong> \u2013\u00a0Management of Sirios Resources Inc. (TSX-V: SOI; OTCQB: SIREF) (“Sirios”)<\/strong> is pleased to announce the signing of an option agreement on the south and west blocks of its Cheechoo property (Figure 1) located in Eeyou Istchee James Bay in Quebec, with Electric Elements Mining Corp. (“EEM”). EEM is new private lithium company jointly created by Osisko Development Corp. and Osisko Mining Inc. Pursuant to the agreement, Sirios granted EEM the option to acquire up to a 100% interest in each of the south and west blocks of its Cheechoo property in return for an investment of $0.5 million, over a period of two years, as described below.<\/p>\n

EEM will explore both blocks for lithium and if the option is exercised, Sirios will retain a 1.5% NSR (“Net Smelter Return”) royalty on the southern block.<\/p>\n

In addition, if the option is exercised, Sirios will be able to recover, at no cost, 100% of the claims on which gold mineralization in bedrock reaching a minimum metal factor of 10 g\/t per metre has been identified.<\/p>\n

To obtain a 100% interest in the two blocks or, at its option, in one or the other of the two blocks, EEM must, over a period not exceeding two years:<\/p>\n