The Calumet-Sud project consists of 21 claims (12 km2). It is located in the Pontiac regional county municipality of southwestern Quebec. SOQUEM, a subsidiary of Investissement Québec and a leading player in mineral exploration in Québec has acquired an undivided 50% interest in the project and a joint venture has been created between Sphinx and SOQUEM. The project is adjacent to Sphinx’s owned 100% GPd project.

The project covers volcano-sedimentary rocks with a significant potential for various types of mineralization including:1) zinc, lead, gold and silver-rich volcanogenic massive sulphide deposits, 2) layered platinum group element-bearing reef and related nickel-copper deposits associated with the Obwondiag layered igneous complex and; 3) high-grade zinc beds hosted in carbonates. The project is adjacent to, and south of, the former New Calumet Mines Limited that produced 3.8 million tonnes at 5.8% Zn, 1.6% Pb, 65 g/t Ag and 0.4 g/t Au from 1944 to 1968 (see attached Figure 1 and Figure 2). In the 1980s, Lacana Mining Ltd. discovered significant gold mineralization immediately below the underground workings of the former mine. In the Obwondiag layered igneous complex, Sphinx discovered a platinum group elements-bearing reef on its GPd project.

An exploration program now operated by Sphinx, commenced in June 2016. The program consisted of:

  • helicopter-borne magnetic, spectrometer and electromagnetic surveys;
  • ground induced polarization and gravimetric surveys;
  • prospecting;
  • soil geochemical sampling (1,924 soil samples, B horizon);
  • diamond drilling (13 holes, 1,098 m) over a surface area of 1.5 km2; and
  • stripping (underway).

High grade zinc intervals (Table 1 below) were returned from dolomitic marble rocks within four (4) newly interpreted horizons. These horizons are defined by strongly anomalous zinc values and the presence of massive sphalerite bands ranging from one centimeter to several centimeters in thickness, as well as both stringer and disseminated sphalerite. The best interval intersected was from drillhole 1400-17-03 that returned 4.11% zinc over 3.0 m drilled width (2.93 m true width) from 12.0 to 15.0 m in the Sonny horizon. Work currently underway includes stripping, geological mapping and channel sampling. The objective of the work is to perform a rigorous targeting followed by a new drilling campaign.