Extension of High-Grade Mineralization Trend by 200 Metres North of Existing Heimdall North Zone at Sail Pond
TORONTO, ON / ACCESSWIRE / November 15, 2023 / Sterling Metals Corp. (TSXV:SAG)(OTCQB:SAGGF) ("Sterling Metals" or the "Company") is pleased to report assay results from its 2023 drilling on the Sail Pond Silver and Base Metal Project ("Sail Pond") in the Great Northern Peninsula of Newfoundland. Despite drilling not being able to identify a potential economic trap of high grade sulphides via the 3D Orion survey, using structural interpretations the Company intersected additional high-grade silver-copper mineralization, expanding the Heimdall trend by 200 m (Figure 1).
Key 2023 Exploration Highlights at Sail Pond:
- 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
Jeremy Niemi, SVP Exploration and Evaluation, stated, "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."
2023 Exploration Results
During the winter of 2023 Sterling initiated a comprehensive ground geophysical survey in the vicinity of the Heimdall and Heimdall North zones. The primary objective was to detect economic orebody sized anomalies suggesting a potential trap (or pod) of the widespread high-grade silver-copper mineralization. With the deep-looking Orion survey and resistivity technology, multiple target zones were identified, out of which four were prioritized for drilling. The geophysical survey was centered on the Heimdall and Heimdall North zones, covering 39.2-line km of IP to pinpoint mineralization targets, complemented by 19.6km of Titan MT to map crucial structures and lithologies hosting the mineralization. Of particular interest was the high chargeable plume beneath the discovery intersection at Heimdall North, which is down dip from the mineralization and the interpreted location for the source of the mineralization (Figure 1).
Figure 1. Target one of four from the 2023 Orion Survey at line 5600N showing a large anomaly below hole 64 at the Heimdall North Zone
During the drilling at Heimdall North, a significant fault was encountered over the last 4 metres of hole 79 which was the first hole drilled into this plume. The fault contained sand and loose fault gauge which prevented the completion of the hole. It is now thought that large fault, and especially the gauge in the wide fault, which undercuts the mineralization at Heimdall North is potentially contributing to the chargeability response beneath the zone and not an accumulation of sulfides.
The second target focused on an area to the south between Heimdall and the Heimdall North gap (see Figure 2 for plan map), to the site of another chargeability target in line with the trend from the Heimdall zone. Hole SP-23-83 which intersected pyrite bearing argillite in the vicinity of the target suggesting the next anomaly was argillite and not a sulfide trap. The balance of the chargeability anomalies has been explained largely by pyrite in argillite horizons, which are typically adjacent to the common style of mineralization being sulphides and sulphosalts in dolostone.
The final two holes of the program were based on a structural interpretation of surface mapping and detailed LiDAR survey data. Holes SP-23-84/85 targeted structural convergence and what appeared to be a dilation zone which could host additional mineralization 200m north of hole 64 and 600m north of the Heimdall Zone. Both holes intersected high-grade silver-copper mineralization (see figure 3 and 4). This structural corridor, in particular dilation zones along it, will be part of the focus of future work at Sail Pond as we continue to work towards identifying the source of the widespread near surface mineralization.