FULL DISCLOSURE: The Deep Dive is long the equity of Sterling Metals.
Sterling Metals (TSXV: SAG) has seen its phase one exploration campaign get underway at its recently acquired Copper Road Project in Ontario. The program, although not yet complete, has reportedly resulted in multiple high priority, multi-kilometre copper exploration zones being identified.
These exploration zones are said to be in the process of being evaluated through a combination of magnetic signature data, LiDAR mapping, soil trend analysis, and prospecting. The campaign in July reportedly saw the collection of 1,200 surface soil samples and the inversion of a 3,777-line kilometre airborne magnetic survey, along with advanced modeling of historical survey data.
Initial interpretation from a LiDAR survey meanwhile has identified numerous historical occurrences on the property, including 483 pits, 227 trenches, 12 adits, and 10 shafts that exist on the property. Efforts are now focused on identifying geological contacts and structural features.
Early stages of mapping are said to have identified numerous showings of copper sulphide mineralization that comes in the form of chalcopyrite and bornite, while the surface samples collected have identified strong copper-molybdenum anomalies.
“The more data we uncover, the more we appreciate the successful and widespread exploration efforts dating back to the early 1960s. Although we have only been on this Project for a few months, the results have been highly encouraging, and the scale of the potential targets far exceeds our initial expectations. To find large mines you need large mineral systems and there is no doubt that this is a very large copper system,” commented CEO Mathew Wilson on the ongoing exploration program.
The company has stated that its current focus is prioritizing targets for ground geophysics, with the aim of identifying potential high tonnage targets associated with high grade breccias and porphyry systems.
Sterling Metals last traded at $0.06 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.
