SIRIOS RESOURCES INC. (TSX-V: SOI) has entered an agreement with prospectors, enabling SIRIOS to acquire the PHOENIX property. The property is located in the Chibougamau region of Chapais, Quebec. The property is home to many gold, silver and copper occurrences which include 3 high grade boulders found in 2007.
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Seven assays were conducted on the boulders and graded 87.5 g/t Au, 57.0 g/t Ag. and 18.0% in copper. The blocks are angular which suggests the proximity of its source. The 2008 sampling of around 500 soil samples delineated a significant gold, silver and copper anomaly. The anomaly, contains a 200 meter minimum length, remains unexplained and will be tested through drilling by SIRIOS in the upcoming weeks.
Pursuant to the agreement, for SIRIOS to earn a 100% interest in the property, an initial payment of $20,000 at the time of signing must be paid, as well as following installments which total $280,000 over a 3 year period. The vendors will keep a 2% NSR royalty, half of which may be bought back at any time by SIRIOS for $1 million.
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