FULL DISCLOSURE: The Deep Dive is long the equity of Sterling Metals.
Sterling Metals (TSXV: SAG) is reporting that it has made a new high-grade copper discovery in Ontario. The discovery occurred at their Soo Copper Project, which is found in the Batchewana Bay region of the province.
The high grade discovery was made as part of a phase two exploration program, with the discovery of high grade mineralization made within a continuous, bulk tonnage copper-molybdenum-silver-gold porphyry system. Highlights from the results include:
- MEPS-25-02: 0.85% copper equivalent (0.43% copper, 0.004% molybdenum, 0.39 g/t gold and 2.75 g/t silver) over 336.0 metres from a depth of 5.0 metres
- Including 1.05% copper equivalent (0.52% copper, 0.005% molybdenum, 0.49 g/t gold and 3.15 g/t silver) over 262.5 metres from a depth of 47.5 metres
- Including 3.25% copper equivalent (1.39% copper, 0.007% molybdenum, 1.83 g/t gold and 8.46 g/t silver) over 68.28 metres from a depth of 179.72 metres
- And Including 19.81% copper equivalent (6.80% copper, 0.008% molybdenum, 13.20 g/t gold and 46.26 g/t silver) over 9.15 metres from a depth of 215.6 metres
The hole is said to represent the highest copper and gold grades intersected to date so far at the Soo Copper project, with intersections including 33% copper over 0.55 metres from a depth of 220.45 metres, and 196 g/t gold and 21.3% copper over 0.6 metres from a depth of 219.85 metres. The newly discovered copper and gold mineralization is said to be found in bornite and associated porphyry dykes, which suggests that a large scale system exists here that has the potential to ‘transform the project.’
READ: Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project
“This discovery clearly indicates the potential for a giant magmatic hydrothermal (‘porphyry’) Cu-Au-Mo deposit within the Batchewana peninsula. The high Cu-Au grades due to bornite, coupled with strongly developed potassic alteration and extensive porphyry dykes, all point to a robust and focused mineralizing event that we have just begun to tap,” commented Dr Neil O’Brien, a technical advisor to Sterling Metals.
Following the discovery, the phase two drill program has been expanded from a minimum of 3,000 metres to 6,000 metres.
Sterling Metals last traded at $0.91 on the TSX Venture.
FULL DISCLOSURE: Canacom Group, the parent company of The Deep Dive is long the equity of Sterling Metals. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
