Sphinx Resources (“Sphinx” or the “Corporation”) (TSXV:SFX) is pleased to announce the completion of ten (10) drill holes, totaling 969 m at its 100 percent owned Green Palladium project (the “Project”). The program was designed to test new targets developed from the airborne survey completed in 2016 and from geological interpretation of previous drill results. These targets are situated on the 800-metre long mineralized reef already traced in 2015 and on potential new horizons that remain untested.
As quoted in the press release:
Observations of the drill core samples from the new holes as well as surface stripping of a new area along the mineralized reef, confirmed the geological continuity of the reef over an 800-metre length. In addition, four (4) holes were drilled north of the area stripped in 2015 that returned mineralized grab 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 percent, 3.3 percent and 0.2 percent Cu respectively.
Three (3) holes intersected sulphide mineralization within the targeted reef horizon similar to that in the surface stripped area with mineralized intervals of up to three metres, (drilled width only). Mineralization consists of semi-massive chalcopyrite and pyrrhotite forming an anastomosed stockwork ranging between 5 percent and 30 percent in volume. These intercepts suggest a plunge to mineralization down-dip and to the northeast. Also noted is an apparent thickening of both the reef and mineralization from surface exposures. This is the most continuous mineralization yet intersected.