The former New Calumet mine that produced from 1943 to 1968, 3.8 million tonnes at 5.8% Zn, 1.6% Pb, 65 g/t Ag and 0.4 g/t Au (reference: Annual report New Calumet Mine 1968) and numerous VMS style alteration zones along a newly identified marker horizon. In the 1980s, Lacana Mining Ltd. discovered significant gold mineralization immediately below the underground workings of the mine.
In 1996 Ressources Q.E.X. carried out diamond drilling programs to test the gold exploration potential between the surface and the -600 feet level. In a report by P. Girard, Ph.D, Eng., dated August 16, 1996, the author estimated that on the basis of the diamond drill program results that: ‘geological reserves above the – 600 feet level of the ‘Main Gold Zone’ and in the ‘Gold Migmatite Zone’ to be 67,600 short tons with an average grade of 0.201 oz/short ton Au (6.3 g/t Au) and 6.93 oz/short ton Ag (217 g/t Ag)’. These figures are not in compliance with the requirements under NI 43- 101 on standards of disclosure for mineral projects and should not be relied on until they are independently verified and supported by a NI 43-101 technical report.
New Calumet Mine Cross section
Note: Values are expressed in Imperial system. Grade is expressed in Troy once per ton (opt) and length in foot.
Pontiac District Prospection and Exploration Strategy
In the next few months Sphinx will consolidate its bank of data and proceed to the analysis of all its Pontiac District projects with an integrated view. The best targets will be identified and tested, conditional to successful financing. Sphinx will still be looking for zinc and copper, but also for precious metals like gold and palladium. Sphinx will continue to be open for any business initiative that may improve the return for its shareholders.