Junior Miner Unveils Higher Grades and Resources at Québec Gold Project, Shares Surge

2025-07-10 13:11:00 ET

A major gold project in Québec is turning heads with a big jump in resources and higher grades. Its latest estimate reveals strong open-pit and underground potential just kilometers from a producing mine. Investors are taking notice as this promising discovery edges closer to development.

Shares of Sirios Resources Inc. (TSX-Venture: SOI) (OTCQB: SIREF) are surging today as the company announced a major update to the Mineral Resource Estimate (MRE) for its 100%-owned Cheechoo Gold Project in Eeyou Istchee James Bay, Québec, located less than 15 km from the Éléonore gold mine. The new 2025 MRE outlines 1.3 million ounces of gold at 1.12 g/t in Indicated Resources and 1.7 million ounces at 1.23 g/t in Inferred Resources, with 446,000 ounces now defined in higher-grade underground resources at 3.09 g/t Au.

This update marks a significant improvement over the 2022 estimate, with open-pit indicated grades rising by 19% (from 0.94 to 1.12 g/t Au) and inferred grades up 38% (from 0.73 to 1.01 g/t Au). The project also boasts a favorable strip ratio of 2.9:1, improving its potential economic viability. In addition, Sirios has identified a large conceptual exploration target ranging from 31 to 40 million tonnes of mineralization grading between 1.27 and 1.45 g/t Au, highlighting the project's strong growth potential.

Dominique Doucet, President and CEO of Sirios Resources, commented: "The substantial increase in gold resources at Cheechoo reflects the dedicated efforts of our team since the last mineral resource estimate. The total resources now position the project as a highly compelling opportunity for mining development-just a few kilometers from a producing gold mine. Furthermore, we are especially enthusiastic about the growth potential represented by our consultants' conceptual Exploration Target, which includes targets for underground resources-an exciting prospect given that drilling to date has largely focused on near-surface zones. With this new MRE in hand, Sirios is now outlining a strategy to fast-track additional resource growth and advance the project toward the development stage."

Shares of SOI are currently up 16.67% at $0.07 while U.S. listed shares (SIREF) trade 9.44% higher at $0.048 in early-afternoon trading.

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