Sterling Metals Launches 2022 Exploration Campaign on Its 100% owned Sail Pond Silver-Copper-Lead-Zinc Project
Sterling Metals Launches 2022 Exploration Campaign on Its 100%
owned Sail Pond Silver-Copper-Lead-Zinc Project
TORONTO, ON / ACCESSWIRE / June 9, 2022 / Sterling Metals Corp. (TSX.V:SAG),
(OTCQB:SAGGF) ("Sterling Metals" or the "Company") is pleased to announce the
commencement of 2022 exploration activities on the Sail Pond project, Newfoundland. The 2022
exploration program will have a two-fold focus, with a geological team focusing on drilling and
another team focused on regional target generation and project enhancement. Drilling will focus
on the 2021 Heimdall Zone discovery as well as exploring for new zones in highly prospective
targets along the 12 kilometre trend which is defined by surface geochemistry, trenching, and
prospecting. The target generation team will complete regional soil sampling, geological
mapping, and prospecting both along the 12 kilometre trend as well as elsewhere on the highly
underexplored property.
CEO Mathew Wilson states, "In the first ever drill campaign undertaken at the Sail Pond project
we were able to define an initial zone of mineralization and a theory of structural control - which
we believe has the potential to replicate several times over along the greater than 12 kilometre
trend defined by outcrop, trenching and soils. Our recently oversubscribed financings
demonstrate the confidence the market has in our exploration strategy. We are excited to start
this drill season and are optimistic that we will continue to uncover Canada's next potential high
grade silver district".
Highlights
• 7,500m Phase Two Drilling commences on June 15, 2022
• Building on discovery at Heimdall Zone exploring for additional zones
• Exceptional exploration team in place to drive the discovery process
Drilling at Sail Pond is planned to commence on June 15th and will begin with an initial program
focused on expanding the mineralization at the 2021 discovered Heimdall Zone. Sterling Metals
has once again contracted Logan Drilling Group International out of Stewiacke, Nova Scotia,
and Mercator Geological Services out of Dartmouth, Nova Scotia, to complete an initial 7,500
metre program. Assays will be sent to SGS Canada Inc.
At present, the Company has generated 38 priority drill targets along the 12 km mineralized
corridor.The targets include favorable locations adjacent to Heimdall, those with coincident
metal in soil anomalies and preferential structural trends, and several other targets with multiple
overlapping favourable geological, structural, geochemical and geophysical features.These
targets were generated via a combined effort between the Sterling Metals technical team, SRK
Consulting ("SRK") and GoldSpot Discoveries Corp. (TSXV:SPOT, "SPOT").
The Heimdall Zone
Figure 1:
Oblique view of the Heimdall Zone generated through SRK's structural 3D modelling, showing
isotropic Ag Eq grade interpolation shells and apparent preferred planes through higher grade
mineralization. Note that these grade interpolation shells are not representative of a mineral
resource nor do they accurately reflect the higher grades of mineralization identified through
drilling, but instead are meant to show the mineralized trends and corridors.
The Heimdall Zone, identified in 2021, is characterized by a broad zone of low grade precious
and base metals associated with breccia-style or veinlet-style sulfide mineralization. The current
dimensions of the lower grade zone are approximately 400 metres of strike, 200 metres of depth,
and 80 metres of width. The Heimdall Zone plunges shallowly to the northeast, starting from
surface. Within this broad zone, as shown in Figure 1, high grade quartz-vein-hosted
mineralization form at least two lenses which are currently correlated between drillholes over
distances up to 100m.
Internal analysis and a recent SRK report suggest that the footwall of mineralization in this area
is defined by an argillite unit. Importantly, the contact of the argillite has a distinct bend and the
highest-grade ore shoot is parallel to the plunge of this bend. Drilling at the Heimdall zone in
2022 will look to test the down plunge projection to the north as well as the down plunge
projection of the highest-grade intersections along the bend in the argillite contact.
For a more in depth look at the Heimdall Zone please click this link to view the Company's
presentation:
https://secureservercdn.net/192.169.220.245/kp3.a88.myftpupload.com/wp-
content/uploads/2022/04/Website-deck.pdf
Regional Exploration
Leading into the Phase 2 program, the Company is armed with a new and robust structural
interpretation of the project and several very compelling target areas have stood out. Drilling will
systematically test and explore each target with an aim to uncover multiple mineralized bodies
along the trend, as is seen in similar silver-base metal districts like Coeur d'Alene and Keno Hill
in the Yukon.
Several structural and geophysical targets along the 12 kilometre mineralization trend have been
identified that require further surface mapping and sampling. The Company will conduct the
regional exploration work in parallel with its drill campaign. Sterling Metals will use the results
of this regional program to advance its targeting along trend and to further refine its drill targets.
See Figure 2 for a drill plan map as provided by SRK alongside the targeting map developed by
the team at SPOT.
Figure 2:
A - Regional targets as generated by the team at GoldSpot Discoveries.
B - Drill targets as generated by the team at SRK Consulting.
The Company also announces that it has granted an aggregate of 2,125,000 options to purchase
common shares of the Company exercisable at a price of $0.31 per common share for a period of
2 years to directors, officers, consultants, and advisors of the Company. The common shares
issuable upon exercise of the options are subject to a four month hold period from the original
date of grant.
Qualified Persons
Kelly Malcolm, P.Geo., Technical Advisor to Sterling Metals, and a Qualified Person within the
meaning of National Instrument 43-101 Standards of Disclosure for Minerals Projects, has
reviewed and approved the technical information presented herein.
About Sterling Metals
Sterling Metals (TSX.V:SAG), (OTCQB:SAGGF) is a mineral exploration company focused
on Canadian exploration opportunities. The Company is currently following up on the silver and
base metal discovery made from the first drill campaign at its 100% owned Sail Pond project in
Northwestern Newfoundland.
For more information, please contact:
Sterling Metals Corp.
Mathew Wilson, President & CEO
Tel: (416) 643-3887
Email: [email protected]
Website: www.sterlingmetals.ca
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in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this press release.
This press release includes "forward looking statements", within the meaning of applicable
securities legislation, which are based on the opinions and estimates of management and are
subject to a variety of risks and uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the forward-looking statements. Forward-
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"project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and
similar words suggesting future outcomes or statements regarding an outlook. Such risks and
uncertainties include, but are not limited to, risks associated with the mining industry (including
operational risks in exploration development and production; delays or changes in plans with
respect to exploration or development projects or capital expenditures; the uncertainties
involved in the discovery and delineation of mineral deposits, resources or reserves; the
uncertainty of resource and reserve estimates and the ability to economically exploit resources
and reserves; the uncertainty of estimates and projections in relation to production, costs and
expenses; the uncertainty surrounding the ability of the Company to obtain all permits, consents
or authorizations required for its operations and activities; and health and safety and
environmental risks), the risk of commodity price and foreign exchange rate fluctuations, the
ability of Company to fund the capital and operating expenses necessary to achieve the business
objectives of Company, the uncertainty associated with commercial negotiations and negotiating
with foreign governments and risks associated with international business activities, as well as
those risks described in public disclosure documents filed by Company. Due to the risks,
uncertainties and assumptions inherent in forward-looking statements, prospective investors in
securities of Company should not place undue reliance on these forward-looking statements.
Statements in relation to "resources" and "reserves" are deemed to be forward-looking
statements, as they involve the implied assessment, based on certain estimates and assumptions,
that the reserves described can be profitably produced in the future.
Readers are cautioned that the foregoing lists of risks, uncertainties and other factors are not
exhaustive. The forward-looking statements contained in this press release are made as of the
date hereof and the Company undertakes no obligation to update publicly or revise any forward-
looking statements contained in this press release or in any other documents filed with Canadian
securities regulatory authorities, whether as a result of new information, future events or
otherwise, except in accordance with applicable securities laws. The forward-looking statements
contained in this press release are expressly qualified by this cautionary statement.
SOURCE: Sterling Metals Corp.