Fantastic day for $SAG.V, up 10.3% so far. As drilling commences on the Sail Pond Project, I'll do a quick overview of the project and what we should expect to come from the ongoing 7,500m phase 2 drill campaign.
- $SAG.V is hoping to build off the recent discovery of the Heimdall Zone to discover further signs of mineralization.
- They’ve generated 38 priority targets along the 12km mineralized corridor.
- The project is host to high-grade silver, copper, lead and zinc prospects, with the 12km anomaly host to up to 657g/t silver and 0.68% copper.
- The 13,500 Ha property is also easily accessible by a series of paved highways, forest access roads and is within 32km of the St. Anthony Regional Airport.
With the drilling now underway, results should be coming very soon. The recent $1.8M and $3M raise should help the company fund the exploration with lots leftover (total working capital sits around $7M at the moment). The $4.8M raised within a month really shows the potential of the Sail Pond Project and how investor sentiment is still strong with this company, unlike many others.
Plus, as silver prices stabilize above $21 USD/Oz due to uncertainty around inflation and the dollar’s strength, $SAG.V is well-positioned to take advantage of the current situation. As the stock continues to well outperform the market combined with the extremely solid cash position, it's definitely a company to keep a close eye on as the uptrend continues to build strength and higher support levels form.