Sphinx Resources Identifies Drill Targets on Chemin Troilus Gold Project, Eeyou Istchee James Bay Territory
TSX VENTURE: SFX
MONTRÉAL, QUÉBEC--(Marketwired - May 11, 2017) - Sphinx Resources Ltd. ("Sphinx" or the "Corporation") (TSX VENTURE:SFX) is pleased to report that high priority drill targets have been identified following the completion of a ground magnetic survey and an induced polarization survey ("IP") conducted earlier this spring on the Chemin Troïlus gold project (the "Project"). The integration of data from these geophysical surveys with the results obtained in 2016 from both the till sampling program and prospecting campaign (press release of January 10, 2017) has generated targets that will be validated by drilling starting around mid-June 2017. The objective of the drilling program is to discover the primary source of the mineralized boulders.
- An axis defined by moderate to weak IP responses and coincident, strong magnetic anomalies trending 1.0 km northeast from the mineralized boulders; and
- A parallel axis 400m to the southeast defined by weak to locally moderate IP responses immediately to the northwest of a newly-defined magnetic high.
The Project is located at the southwest end of a gold-copper corridor trending north-east. This corridor is located at the northern limit of the Frotet-Evans greenstone belt, in the Opatica geological subprovince of the Superior Province and it includes the Troïlus Mine. The Project consists of 61 claims (33.2 km2). It is located 110 km north-north-west of the town of Chibougamau along existing road access to the Troïlus Mine and therefore exploration can be carried out at a relatively low cost. Funding for the program includes funds provided by the Société de développement de la Baie-James.
The technical information presented in this press release has been approved by Normand Champigny, President and Chief Executive Officer of Sphinx, and a Qualified Person as defined by NI 43-101.
About Québec and Sphinx
Quebec has established itself as one of the world's most attractive mining jurisdictions, ranking 6th globally. 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.
For further information, please consult Sphinx's website: www.sphinxresources.ca.