CHEECHOO GOLD PROSPECT NSR
Golden Valley Mines currently holds an NSR on the Cheechoo Gold Prospect, which ranges from 2.5% – 4.0% depending on commodity prices. The Cheechoo Gold Prospect is 100% owned by Sirios Resources.
In 2019, Sirios Resources announced an initial resource estimation for the Cheechoo gold deposit, based on an open-pit constrained model, as follows:
- Inferred resources containing 1.6 million ounces of gold, from 71.0 million tonnes at an average grade of 0.69 grams of gold per tonne. The estimate is based on data from 270 diamond drill holes totaling 64,212.45 metres and 385 channels for 3,214.88 metres completed by Sirios between 2012 and April 2019. (see Sirios Resources’ press release dated December 11, 2019 for further information).
In November 2020, Sirios Resources announced an updated resource estimate which added an additional 355,000 ounces of gold to its initial resource estimate, representing an increase of 22% at the Cheechoo gold deposit (see Sirios Resources’ press release dated November 17, 2020 for further information).
For additional details with respect to the exploration and field work completed to date on the Cheechoo gold project, as well as for the details on the expenditures made to date by Sirios on the project, please refer to Sirios’ continuous disclosure documents available for viewing by the public through the internet at the SEDAR website (www.sedar.com) by accessing Sirios’ issuer profile.