FULL DISCLOSURE: This is sponsored content for Sterling Metals.
Sterling Metals (TSXV: SAG) is back in the field at its Sail Pond project in Newfoundland, aiming to follow up on a discovery made during drilling last year.
The company has begun drilling under a planned campaign of at least 2,000 metres, which will follow up on a recently conducted Orion 3D geophysical survey, which included a magneto telluric survey. Geophysics were conducted at both the Heimdall and Heimdall North zones on the property, identifying strong chargeability along trend from existing surface and drilling intercepts.
“Completing the Orion survey and highlighting a new geophysical target just below our discovery hole SP-22-064 only fueled our desire to return to the Heimdall North Zone. The mineralization in hole 64 was essentially solid vein of high-grade copper and silver mineralization interpreted to come from a nearby larger source. This is an amazing target to kick off our 2023 campaign and we can’t wait to see the core,” commented Senior VP of Exploration and Evaluation Jeremy Niemi.
The first target of the program is said to be on trend from hole SP-22-064, which last year intersected 3,499.1 g/t silver equivalent over 0.35 metres, within a larger interval of 294 g/t silver equivalent over 4.67 metres. Geophysics have identified a wide chargeability zone of over 100 metres below that hole, with a halo extending towards mineralization in the hole.
The drill program as a whole is targeting six of the highest priority targets at Sail Pond, with a contingency program planned based on a successful program.
“The plan executed by the Sterling team, which prompted investors to back our $6.5M financing in April 2023, remains on track. Despite the challenging macro venture environment, we are excited to see the results of our hard work as we embark on the next phase of drilling at Sail Pond,” stated CEO Mathew Wilson.
Sterling Metals last traded at $0.085 on the TSX Venture.
FULL DISCLOSURE: Sterling Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Sterling Metals. The author has been compensated to cover Sterling Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
