Sterling Metals (TSXV:SAG), reported the findings from their 2023 drilling activities at the Sail Pond Silver and Base Metal Project in Newfoundland’s Great Northern Peninsula. The exploration at Sail Pond, particularly at the Heimdall and Heimdall North zones, was aimed at discovering economically viable deposits of high-grade silver and copper.

Jeremy Niemi, SVP Exploration and Evaluation, commented in a press release: “Ahead of our 2023 drilling campaign at Sail Pond, we implemented a systematic approach targeting the source of the mineralization at Heimdall North by employing the deep looking Orion survey. We were encouraged by strong geophysical targets in the right geological locations and these targets are where we started our 2023 drilling. Learning from the initial holes and with the mineralization source eluding us, our team rapidly pivoted to focus on structural data and on-the-ground observations for the final holes of the program. The final two holes yielded an additional high-grade copper-silver intersection and a broad mineralization zone spanning nearly 30 meters north of the Heimdall North Zone. Notably, this zone remains open to the north. Moving forward, our efforts will continue to concentrate on locating large areas of interest with the potential for massive sulphide accumulations, aiming to uncover the origins of the numerous high-grade intersections at Sail Pond.”

The company conducted a comprehensive ground geophysical survey during the winter of 2023, utilizing deep-looking Orion surveys and resistivity technology. This effort aimed to uncover large-scale anomalies indicative of significant silver-copper mineralization. Covering a total of 39.2-line kilometres of Induced Polarization (IP) and 19.6 kilometres of Titan MT, the survey targeted the identification of mineralization and key geological structures.

Despite initial setbacks, including a significant fault encountered in hole 79, which impeded drilling progress, Sterling Metals reported positive outcomes. The fault, filled with sand and loose material, suggested that the chargeability response beneath Heimdall North might be due to geological structures rather than sulfide accumulation. Further drilling between the Heimdall and Heimdall North zones revealed the presence of pyrite-bearing argillite rather than anticipated sulfide traps.

In a strategic shift, the final two drill holes of the program, SP-23-84/85, were guided by structural interpretations from surface mapping and LiDAR data. Targeting a structural convergence and potential dilation zone north of the Heimdall Zone, these holes successfully intersected high-grade silver-copper mineralization. This finding, expanding the Heimdall trend by 200 meters, marks a significant advancement in understanding the geological framework of the area and will inform future exploration efforts at Sail Pond.

Sterling Metals also updated on the progress at its Adeline Project in Labrador. The company completed a 1,930-meter drilling program in 2023 and is currently awaiting assay results from ALS. The assays, expected by the end of the month, have been delayed due to additional steps taken to ensure comprehensive collection of copper in the mineralization samples.

Overall, the company’s exploration activities, though facing geological challenges, have yielded promising results, particularly in the expansion of the Heimdall trend and the identification of new mineralization zones. These developments are pivotal in Sterling Metals’ ongoing efforts to delineate the extent and quality of mineralization at both Sail Pond and Adeline projects.

Highlights from the results are as follows:

• A total of 8 drill holes covering 2,058 m were completed, focusing on 4 distinct target areas defined by the Orion 3D geophysical survey (the “Orion survey”)
• Drilling extended high-grade silver-copper mineralization 200 m beyond previous intersections (Figure 2) and the area remains open to the north
• The new extension of the Heimdall North Zone discovered through structural interpretation of the project lidar, graded 932 g/t Ag, 4.51% Cu over 0.3 m starting at 209 m depth in hole SP-23-085 (Figure 3) and 303 g/t Ag, 1.26% Cu and 5.59% Pb over 0.3 m starting at 279.9 m (Figure 4)
• The Company is currently undertaking physical property studies using the relevant core from Sail Pond and its new structural understanding to delineate areas of interest for higher permeability where economic quantities of high-grade sulfides are trapped

Table 1. Reported assay intervals from 2023 Sail Pond drilling.

1. See Figure 2 and Table 2 for drillhole locations.
2. All reported depths and intervals are drill hole depths and intervals unless otherwise noted, and do not represent true thicknesses, which have yet to be determined.

Table 2. Reported 2023 Sail Pond hole locations and directions.