MONTREAL, QUEBEC – Sphinx Resources Ltd. (“Sphinx” or the “Company”) (TSX VENTURE: SFX) is pleased to announce that ten (10) Completed on the Green Palladium project (the “Project”) wholly owned by the Company. This program was developed to test new targets identified by the helicopter survey conducted in 2016 and the geological interpretation of previous drill results. These targets are located on the mineralized reef already traced over a length of 800 m identified in 2015 and on potential new horizons that have not been tested ( press releases of 6 August 2015 and 1 November 2016 ).
Observations on the core samples of the new holes and surface stripping of a new area along the mineralized reef confirmed the geological continuity of the reef over a length of 800 meters. In addition, four (4) drill holes were drilled north of the stripped area in 2015, which returned selected mineralized samples from the reef horizon with values of 3.3 g / t, 2.3 g / T and 0.6 g / t Pd and 3.2%, 3.3% and 0.2% Cu respectively ( press release of January 15, 2015 ). Three (3) of these holes intersected sulphide mineralization similar to that of the stripping area in the targeted ‘reef’ horizon with mineralized intervals of up to three meters (drilled width only). The mineralization consists of chalcopyrite and semi-massive pyrrhotite constituting an anastomosed stockwork varying from 5% to 30% by volume. These intersections suggest a dip of mineralization in the dip direction and northeast. An apparent thickening of ‘reef’ and mineralization is also observed on surface outcrops. This mineralization is the most continuous intersected until now.
Survey samples will be delivered to the ALS Chemex laboratory in Val d’Or, Quebec, for analysis. All results will be disclosed when the analyzes are completed and the Quality Assurance and Quality Control (QA / QC) procedure and interpretation of the data are finalized in early spring.
The Project consists of 86 claims (49 km 2 ) and is located in the Pontiac RCM in southwestern Quebec. Sphinx operates and assumes the costs of surveys estimated at $ 150,000. The project also contains a significant area of potentially zinc-bearing rocks, as well as on the Calumet-Sud project where Sphinx and its partner SOQUEM recently completed a 13-hole survey totaling 1,098.5 meters ( April 5, 2017 press release ).
The drilling program was conducted by Forage G4 of Val-d’Or under the supervision of Michel Gauthier, Ph.D. (geo, and a director of the Company) and Robin N. Adair, M.Sc. (P. Geol., Geo, and member of the Company’s Advisory Committee).
The technical information in this release has been approved by Normand Champigny, President and Chief Executive Officer of Sphinx and a Qualified Person within the meaning of NI 43-101.
Ranked 6th in the world, Quebec has established itself as one of the most attractive mining jurisdictions in the world. The Government of Quebec has created market confidence by taking a proactive approach to mining policy. Quebec’s mining sector has also been encouraged by the clarity and certainty of the legal and regulatory framework adopted by its government.
Sphinx is a company focused on the generation and acquisition of exploration projects in Quebec, a Canadian province that is recognized worldwide as an attractive mining jurisdiction.
Source: Sphinx Resources Ltd.