Sirios funds work at Aquilon

Following an infusion of cash, Sirios Resources (SOI-M) is gearing up for a 10-hole, 1,500-metre drilling program at its Aquilon gold property in the James Bay region of northern Quebec.

In late December 1998, Sirios raised $210,000 from 20 investors by placing 580,000 flow-through shares and 470,000 shares at 20 cents per share, as well as 1.05 million warrants entitling the holder to buy another Sirios share at 26 cents per share before March 28, 2000.

Sirios officers and directors took part in this financing and now own about 15% of the company, or 20% fully diluted.

Sirios intends to test a 2-km-long area where shear zones cut through the felsic volcanic rocks.