Sirios Resources Inc. Signs a 7,500M Drilling Contract with Boart Longyear for the Cheechoo Gold Project, Quebec
March 24, 2021 at 09:00 am EDT
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The management of Sirios Resources Inc. announced the signing of a reverse circulation drilling contract with Boart Longyear. The drill contract will include a minimum 7,500 metre program to commence this summer on the Cheechoo gold property in Eeyou Istchee James Bay, Quebec. The campaign will be carried out using reverse circulation drilling (RC drilling), a reliable drilling technology widely used throughout the world. RC drilling is particularly advantageous for definition drilling in advanced projects targeting near-surface deposits. RC drills are significantly faster and less expensive than diamond drills, resulting in more holes drilled during this campaign and at a lower cost per meter. Due to the larger diameter of the drilled hole, RC drilling allows for larger, more representative samples, which is particularly more suitable for gold deposits where mineralization is erratically distributed (nugget effect). Sampling is also faster, since the RC cuttings are sent from the drill rig to the laboratory with fewer intermediate steps, such as eliminating delays related to core sawing. On the Cheechoo project, RC drilling will allow the company to achieve the objective of deposit definition by providing reliable geological data in a more timely and cost-effective manner. The objective of this summer's drilling program will be to better define the Cheechoo deposit and subsequently initiate a new resource estimate update (starting in 2022). This update is expected to convert a significant amount of the inferred resources to indicated resources. Improving the classification of the project's gold resources will allow the company to improve the market valuation of the Cheechoo deposit as well as taking the project to a more advanced stage by completing a Preliminary Economic Assessment (PEA).
Boart Longyear Group Ltd. is a provider of drilling services, drilling equipment, and performance tooling for mining and drilling companies. It also has a presence in aftermarket parts and service, energy, mine de-watering, oil sands exploration, production drilling, and down-hole instrumentation. It operates in two segments: Global Drilling Services and Global Products, which includes the Veracio business. The Global Drilling Services segment provides a broad range of drilling services to companies in mining, energy and other industries. Its Global Drilling Services division operates for a diverse mining customers base spanning a range of commodities, including copper, gold, nickel, zinc, uranium, and other metals and minerals. The Global Products segment, which includes Veracio, manufactures and sells drilling equipment and performance tooling to customers in the drilling services and mining industries. Its water services include dewatering, water supply drilling, and pump services.