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Sphinx Resources Ltd.

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Summary

Project:

Calumet-Sud

Deposit:Calumet-Sud
Location:Canada
Commodities:Zinc
Date:2/22/2018
Report Code:NI43-101
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resources Definition
Report details:22-2-2018: Sphinx Resources Ltd. announces an Exploration/Drilling Update report for its Calumet-Sud deposit at the Calumet-Sud project. Drilling results incl. 6.4m @ 3.1% Zn from 15.6m. Montréal, February 22, 2018 - Sphinx Resources Ltd. (“Sphinx” or the
Resources:x
CP/QP:[Overall Report]: Normand Champigny; Michel Gauthier (Internal)
ABSTRACT:Montréal, February 22, 2018 - Sphinx Resources Ltd. (“Sphinx” or the “Corporation”) (TSX-V: SFX) and its partner SOQUEM are pleased to announce the initial results of their recently completed diamond drilling program on the Calumet-Sud zinc project (the “Project”) in Quebec. Hole CS-18-06 returned 9.0% zinc over 1 m within a stratiform and shallow-dipping mineralized horizon that graded 3.1% zinc over a 6.4 m length beginning at a depth of 15.6 metres. Based on outcrop measurements of mineralization and drill hole orientation, the true thickness is estimated at 100% of the drilled length. This hole is located on the Sonny Zone where all eight (8) holes drilled during this program intersected the sub-horizontal zinc-bearing horizon. The horizon is known to date over a surface area 113 m long by 60 m wide (see press release of February 6, 2018 and Figure 1 attached). The Corporation considers that these results are very encouraging. Assays are pending for the remaining ten (10) holes. The zinc-bearing horizon is defined by the presence of massive sphalerite bands ranging from one centimetre to several centimetres in thickness, as well as disseminated sphalerite, pyrite and pyrrhotite, all hosted in dolomitic marble. 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). Beyond the area of this drilling, the horizons can be traced over a 1.5 km strike length on the basis of strongly anomalous zinc values in soils and limited drilling conducted by Sphinx and SOQUEM in 2017 (see press releases dated July 13, 2017, February 22, 2017 and December 20, 2016).

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