The mining company Ressources Sphinx LTD., in the municipalities of l’Ile-du-Grand-Calumet, is looking for partners to be able to continue to advance its Green Palladium project. The president / CEO of Sphinx Resources, Jeremie Ryan discussed the issues regarding the costs associated to continue drilling for Palladium.
The drilling campaigns, which were carried out in 2015 and 2017, revealed high quantities of palladium in the soil, quantities that could be of interest to potential investors. As explained, Ryan therefore took advantage of his recent visit to the 2020 World’s Premier Mineral Exploration and Mining Convention in Toronto to approach potential buyers and to promote Ressources Sphinx’s projects. However, many months could pass before the company could see partners officially join:
The president / CEO of Sphinx Resources said he approached five companies at the convention in Toronto. If no partner are found soon, Ryan explained that the company would prefer to sell the project. Until then, field operations will continue and fundraising activities will be carried out in the coming weeks.
To find out more about the Green Palladium project: https://sphinxresources.ca/fr/projets/6669-2/projet-green-palladium/
Calumet-Nord and Calumet-Sud
For the other two projects on l’Ile-du-Grand-Calumet, drilling at Calumet-Sud (zinc) should resume in the spring 2020, and as for the Calumet-Nord (gold, silver and copper), Sphinx is planning a drilling campaign in the spring, due to gaining the missing authorizations, in particular from the Commission de Protection du Territoire Agricole du Québec (CPTAQ): for drilling on farm land.