Northwire Canada EditionWednesday, November 11, 2026
Northwire
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Gold 4,006.30 −0.6% Silver 52.06 +1.6% Copper 6.30 +1.1% Oil 87.17 +1.3% Palladium 1,053.00 +3.1% ORCL 0.030 +0.0% ELD 49.31 −2.2% OPW 0.150 +0.0% CDE 21.73 +0.1% AEM 268.56 −0.7% WDO 28.21 −0.4% BEA 0.090 +0.0% GAU 3.50 −1.8% BTO 7.48 −0.9% IMG 26.14 −0.7% BOL 0.060 +0.0% CNT 0.030 +0.0% EXN 0.250 +1.0% MNRG 0.080 +6.7% GSKR 2.83 −1.4% FPC 0.450 +1.1% Gold 4,006.30 −0.6% Silver 52.06 +1.6% Copper 6.30 +1.1% Oil 87.17 +1.3% Palladium 1,053.00 +3.1% ORCL 0.030 +0.0% ELD 49.31 −2.2% OPW 0.150 +0.0% CDE 21.73 +0.1% AEM 268.56 −0.7% WDO 28.21 −0.4% BEA 0.090 +0.0% GAU 3.50 −1.8% BTO 7.48 −0.9% IMG 26.14 −0.7% BOL 0.060 +0.0% CNT 0.030 +0.0% EXN 0.250 +1.0% MNRG 0.080 +6.7% GSKR 2.83 −1.4% FPC 0.450 +1.1%
Drill Results

Sirios Intercepts 0.26 g/t Gold over 298.2 Metres at Aquilon

Sirios secures Sumitomo as 51% project partner while massive low-grade gold halo at Aquilon suggests bulk-tonnage potential.

Executive Summary

The most recent news release (February 10, 2026) reports drilling results from the Aquilon project in Quebec. The results highlight massive intercepts of low-grade gold, notably 0.26 g/t Au over 298.2 metres (Hole AQ25-118) and 0.27 g/t Au over 146 metres (Hole AQ25-119). These results confirm the continuity of a "gold halo" extending over 700m laterally and 300m in width.

Crucially, the release announces that Sumitomo Metal Mining Canada has fulfilled the requirements of Phase 1 of their option agreement, earning a 51% interest in the Aquilon project by investing over C$4.8 million. Moving forward, the project will be a joint venture with funding provided in proportion to ownership (51% Sumitomo / 49% Sirios).

Material Impact

The news is Materially Positive for several reasons: - Major Partner Validation: Sumitomo, a top-tier global miner, has seen enough geological potential to exercise its option and commit to a 51% joint venture. This provides significant technical and financial validation for the Aquilon property. - Scale Potential: While the grades (0.26 g/t) are very low, the thicknesses are substantial. Management is comparing these results to the early days of their flagship Cheechoo project, which now hosts over 3 Moz of gold. This suggests the company is hunting for a large-scale, bulk-tonnage deposit. - JV Transition: The transition from a "Sumitomo-funded" model to a "Jointly-funded" model is a double-edged sword. While it solidifies the partnership, Sirios must now begin contributing its share of capital to maintain its 49% interest, which will increase the company’s cash burn. - Recent Capital Infusion: The January 15, 2026, news of $1.5 million raised through warrant and option exercises provides the immediate liquidity needed to fund these upcoming JV commitments.

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Company Overview

Sirios Resources is a Quebec-based explorer. Its flagship is the 100%-owned Cheechoo Gold Project, located 15km from Newmont’s (now Dhilmar’s) Éléonore mine. - Flagship Resource: 1.3 Moz Indicated (1.12 g/t) and 1.7 Moz Inferred (1.23 g/t). - Discovery Strategy: Focusing on high-grade zones (Eclipse zone) to enable a "ramp-first" underground mining scenario, followed by large-scale open pits. - Secondary Asset: Aquilon (49% interest), a high-grade gold showing project that is now revealing bulk-tonnage potential.

Read the original news release →

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