What Sphinx Resources does

Sphinx Resources Ltd. is a Canadian junior mineral exploration company headquartered in Montréal, Quebec, publicly traded on the TSX Venture Exchange (symbol: SFX) and the Frankfurt Stock Exchange (symbol: D4M1). Founded in 1996, the company focuses on the generation and acquisition of mineral exploration projects in Quebec, with a particular emphasis on the Pontiac District in southwestern Quebec and the Témiscamingue Gold Belt in northwestern Quebec. Its exploration targets include precious metals (gold, palladium, platinum, silver) and base metals (zinc, copper, lead), with a strategic focus on high-grade zinc and platinum group elements (PGEs) given Quebec's favorable geology and the company's adjacent claim positions to the historic New Calumet Mine (which produced 3.8 Mt at 5.8% Zn, 1.6% Pb, and 65 g/t Ag between 1944-1968).

The company operates a portfolio of exploration-stage projects including Calumet-Sud (21 claims, 12.1 km², 50/50 JV with SOQUEM), the GPd / Green Palladium project (74 claims, ~41 km², containing the Obwondiag layered igneous complex with PGE-bearing reef mineralization), Calumet-Nord (42 claims, 24.5 km², optioned from Ressources Tranchemontagne ltée), the New Calumet Mine claims (acquired March 2021), and the Patrie and Soufflot gold projects in the Témiscamingue Gold Belt. Exploration activities are conducted either directly by Sphinx or through joint venture and option agreements with partners including SOQUEM (a subsidiary of Investissement Québec) and Osisko Metals (zinc exploration JV in the Grenville province).

Sphinx's business model is that of a pre-revenue exploration company: rather than generating operating revenue, the company raises capital through periodic non-brokered private placements (recurring investors include Palisades Goldcorp, La Caisse, Fonds de solidarité FTQ, and Haywood Securities Inc.) and monetizes exploration upside through joint venture earn-ins, option payments, and royalty arrangements. The company employs 51–100 people and is led by President and CEO Daniel Deschambault (appointed August 24, 2021, replacing Jeremie Ryan), with CFO and Director Pierre-André Viens, independent director Martin Bourgoin (former chief geologist at Sigma Mine), and advisory committee member Donald Gervais (former technical services manager at Canadian Malartic Mine).

Name

Sphinx Resources

Legal name

Ressources Sphinx ltée

Website

https://sphinxresources.ca

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

51–100 employees

Short description

Sphinx Resources is a publicly-traded Canadian junior mineral exploration company that generates and acquires exploration projects in Quebec, targeting precious metals and base metals (zinc, gold, palladium), and advances them through joint ventures and option agreements.

Ownership category

akta.pro rank

Product category

Mineral Exploration Services

NAICS

Gold Ore and Silver Ore Mining (21222), Metal Ore Mining (2122)

SIC

Gold And Silver Ores (1040), Metal Mining (1000)

akta.pro primary industry

Precious Metals Exploration & Project Development (IMAKAEAI)

akta.pro secondary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Mineral exploration services
• Zinc exploration projects
• Precious metals exploration
• Palladium PGE exploration
• Quebec mining projects

Headquarters

HQ city

Montréal

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Others, Infrastructure

Revenue model

1. Mineral Exploration: Pre-revenue exploration stage company. Revenue will be generated through sale of mineral claims, option agreements, joint ventures, or future production if deposits are discovered and developed.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Sphinx Resources is a junior mineral exploration company focused on the generation and acquisition of exploration projects in Quebec, Canada. The company holds a portfolio of projects targeting precious metals (gold, silver, palladium, platinum) and base metals (zinc, copper, lead), organized across the Pontiac District and the Temiscamingue Gold Belt. Exploration is advanced primarily through joint venture and option agreements with partners such as SOQUEM and Osisko Metals.

Product overview

Sphinx Resources is a mineral exploration company engaged in the generation and acquisition of exploration projects in Quebec, Canada. The company focuses on precious metals (gold, silver, palladium, platinum) and base metals (zinc, copper, lead) exploration. The portfolio consists of multiple exploration projects organized in two main districts: the Pontiac District (Calumet-Sud, GPd/Green Palladium, Calumet-Nord, New Calumet Mine, Tessouat, Tessouat-Sud, Obwondiag) and the Temiscamingue Gold Belt (Patrie, Soufflot). The company operates as a joint venture partner with SOQUEM and is listed on the TSX Venture Exchange (SFX).

Differentiator

Problem solved

Functional benefit

Products and services

• Pontiac District Exploration Portfolio A multi-project mineral exploration portfolio in southwestern Quebec targeting zinc, lead, precious metals, and PGE mineralization along a 40-km corridor of dolomitic marbles, offered to joint venture and option partners for further exploration advancement.
• Calumet-Sud Project A 21-claim (12.1 km2) zinc exploration project in the Pontiac MRC of southwestern Quebec, advanced under a 50/50 joint venture with SOQUEM (a subsidiary of Investissement Québec). Adjacent to the former New Calumet Mine, it targets VMS deposits, PGE reefs, and high-grade zinc beds, with drill results including 13.1% zinc over 1.0m and 3.8% zinc over 5.0m.
• GPd (Green Palladium) Project A 74-claim (~41 km2) palladium-platinum-gold exploration project in the Pontiac MRC featuring the Obwondiag layered igneous complex with PGE-bearing reef mineralization. Acquired from Gardin Inc. in 2014 with a 2% NSR royalty and minimum $750,000 exploration commitment over 3 years. PGE reef extended over 800m with grades of 3.44 g/t Pd+Pt+Au over 40 cm.
• Calumet-Nord Project A 42-claim (24.5 km2) gold-silver-copper exploration project in the Proterozoic volcanic belt of Île-du-Grand-Calumet, adjacent to the former New Calumet Mine. Held under an option with Ressources Tranchemontagne ltée requiring $200,000 in payments and a 1% NSR royalty (buyable for $1,000,000).
• Temiscamingue Gold Belt Portfolio A gold exploration portfolio in the Temiscamingue Gold Belt of northwestern Quebec, comprising the Patrie and Soufflot projects in the Belleterre mining camp area. Advanced to joint venture partners and optionees.
• Patrie Project A 34-claim (19.90 km2) gold exploration project in the Belleterre mining camp area containing the Patrie gold showing with grab sample values of 30.5 g/t Au. Located along a NE-SW regional fault cutting through Archean rocks of the Grenville Province.
• Soufflot Project A 35-claim (19.95 km2) gold exploration project in the Belleterre mining camp, hosting the first gold showing discovered in the camp. Located in sedimentary rocks of the Pontiac Group near porphyry intrusive plugs. Optioned to Barlow Mine Inc. in September 2020.
• New Calumet Mine Project A 14-claim (641 ha) project covering the historic New Calumet Mine area, which previously produced 3.8 million tonnes grading 5.8% Zn, 1.6% Pb, 65 g/t Ag, and 0.4 g/t Au from 1944 to 1968. Also contains volcanic massive sulphide alteration zones along a newly identified marker horizon.

Quantifiable outcome

• Drill result of 13.1% zinc over 1.0m including 3.8% zinc over 5.0m at Calumet-Sud project
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered minor and core.

• Barlow Mine Inc.minorStrategic or Co-development Partner · 2 September 2020Sphinx optioned its Soufflot project to Barlow Mine Inc. in September 2020.
• Ressources Tranchemontagne ltéeminorStrategic or Co-development Partner · 26 June 2019Option agreement for Calumet-Nord project. Sphinx can earn 100% interest by paying $200,000 ($100,000 at signing, $100,000 by June 20, 2020) and granting a 1% NSR royalty (buyable for $1,000,000).
• Ressources Tranchemontagne ltéeminorStrategic or Co-development Partner · 14 June 2019Sphinx acquired Patrie and Soufflot projects by reimbursing MERN claim designation fees. Two titles were transferred from Tranchemontagne in exchange for fee reimbursement.
• Osisko MetalscoreStrategic or Co-development Partner · 15 May 2018Sphinx entered into a joint venture with Osisko Metals to explore for zinc in the Grenville geological province in Quebec. The partnership focuses on identifying Broken Hill-type zinc deposits in the region.
• SOQUEMcoreStrategic or Co-development Partner · 31 May 2016SOQUEM, a subsidiary of Investissement Québec, acquired an undivided 50% interest in the Calumet-Sud project. A joint venture was created between Sphinx and SOQUEM for exploration activities. SOQUEM operates exploration programs including drilling, geophysical surveys, and soil sampling.
• Gardin Inc.minorStrategic or Co-development Partner · 1 January 2014Sphinx acquired the GPd (Green Palladium) project from Gardin Inc. by issuing 4,461,536 common shares and granting a 2% Net Smelter Return royalty. Sphinx committed to spending minimum $750,000 in exploration expenditures over 3 years.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Quebec Precious Metals Corporation: Quebec-focused precious-metals explorer that emerged from the 2018 Sphinx/Goldcorp-backed consolidation. Closely comparable predecessor entity with overlapping Quebec gold/precious-metals focus and similar TSX-V profile.
• Cartier Resources: Quebec-focused gold junior with a portfolio of exploration projects in the Abitibi region. Comparable project-generator model, gold focus, and TSX-V listing.
• Osisko Metals: Quebec-focused base-metals (zinc/lead) junior explorer and developer. Osisko Metals is directly comparable as a JV partner with Sphinx on Grenville zinc and operates in the same commodity and jurisdiction.
• Probe Metals: Quebec-focused gold exploration junior with multiple projects in the Abitibi and similar geological settings. Comparable in size, business model (pre-revenue project generator), and TSX-V/TSX listing profile to Sphinx.
• Wallbridge Mining: Quebec-focused gold and PGE explorer (Fenelon/Martinière projects). Comparable as a junior explorer with a multi-commodity Quebec portfolio, though larger and more advanced than Sphinx.
• Midland Exploration: Quebec-focused project generator (gold, base metals, critical minerals) with JV-funded exploration programs. Closely analogous to Sphinx on business model (joint venture partner-funded), jurisdiction, and junior size.
• Azimut Exploration: Quebec-focused project generator with a large mineral claims portfolio covering gold, copper, and critical minerals. Direct comparable on project-generation/JV business model in the same jurisdiction.

Emerging players

• Chalice Gold Mines: Multi-commodity junior explorer with PGE exposure (Julimar discovery) and a project-generator model. Comparable on the PGE thesis and JV-driven business model, though primarily Australian-focused.

Others

• SOQUEM: Quebec government-funded mining investment vehicle and Sphinx's JV partner on Calumet-Sud. Comparable as a Quebec exploration operator and natural source of additional JV opportunities for Sphinx.

Regional players

• Bonterra Resources: Quebec-focused gold junior with advanced-stage assets in the Urban-Barry camp. Similar Quebec footprint and gold focus, but more advanced on resource definition than Sphinx.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/sphinxresources

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds23 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sphinx Resources