Sirios Announces its fully funded 2026 Exploration Program
Executive Summary
The Cheechoo drilling campaign is strategically designed in two phases, with the initial 25,000-metre program targeting three key areas: 15,000 metres on the modeled exploration target from the existing resource estimate, 7,500 metres in metasediments at the northeast contact of the main intrusive, and 2,500 metres in the higher-grade Eclipse sector. This systematic approach builds upon Cheechoo's current resource base of 35 million tonnes indicated at 1.12 g/t gold (1,262,000 ounces) and 42.7 million tonnes inferred at 1.23 g/t gold (1,688,000 ounces). A second phase of at least 10,000 metres is planned for Q1 2027, contingent on first-phase results.
Beyond Cheechoo, Sirios is advancing work across its broader portfolio, including the Aquilon project (operated 49% Sirios, 51% Sumitomo Metal Mining Canada), where encouraging 2025 results warrant follow-up work in Q3 2026. The company is also developing exploration plans for the PLEX project, spanning 21,000 hectares along a greenstone belt, and the newly-acquired Fagnant project, which covers 98 km² of the Archean volcano-sedimentary belt and will see its first significant survey since acquisition.
The fully-funded nature of this program provides Sirios with strategic flexibility to execute its exploration thesis without financing constraints. Management expects the comprehensive drilling at Cheechoo will enable publication of an updated resource estimate, followed by completion of a Preliminary Economic Assessment in the first half of 2027. This timeline positions the company to advance the project through critical development milestones while systematically testing the significant exploration upside across its Quebec gold portfolio. The program represents a substantial commitment to unlocking value in one of Canada's most prospective gold regions, leveraging proximity to existing infrastructure and the successful Éléonore mine operation.
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