MONTRÉAL, QUÉBEC–(Marketwired – Feb. 6, 2018) – Sphinx Resources Ltd. (“Sphinx” or the “Corporation”) (TSX VENTURE:SFX) and its partner SOQUEM are pleased to announce the completion of their second diamond drilling program. Eleven (11) holes have been drilled for a total of 426 m on the Calumet-Sud zinc project (the “Project”). The visual observations show that:
- On the Sonny Zone, all eight (8) holes intersected a sub-horizontal zinc-bearing horizon that is continuous over 113 m with a width of 60 metres. It starts at surface and continues to a depth of 29 metres;
- On the Sonny West Zone, the three (3) holes indicate that the horizon is sub-vertical. It was intersected over 50 metres; and
- All of the drill holes confirm that mineralization is metamorphosed SEDEX-type (SEDimentary EXhalative, more than half of the world’s zinc and lead production is from mines producing from of this type of deposit).
SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.
About Québec and Sphinx
Quebec has established itself as one of the world’s most attractive mining jurisdictions, ranking 6th globally (Fraser Institute press release, February 28 2017). The Quebec government has created market confidence by following 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 engaged in the generation and acquisition of exploration projects in Québec.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Sphinx’s periodic reports including the annual report or in the filings made by Sphinx from time to time with securities regulatory authorities.
President and Chief Executive Officer