Sterling Metals (TSXV:SAG) Expands Heimdall Trend by 200m with High-Grade Mineralization Trend in Newfoundland’s Sail Pond Project

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. Source: Sterling Metals

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.

Figure 2. Plan map of 2023 hole locations and known mineralization. Source: Sterling Metals

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.

Drillhole From (m) To (m) Length (m) AgEq (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%) Sb (%)
SP-23-079 98.08 98.43 0.35 209.7 79 0.094 3.89 0.014 0.042
SP-23-080 236 236.25 0.25 110.2 62 0.25 0.17 0.18 0.06
SP-23-081 No Significant Results
SP-23-082 Hole stopped due to hole alignment issue
SP-23-082A Hole stopped due to fault zone
SP-23-083 No Significant Results
SP-23-084 278 280.15 2.15 93.6 40 0.16 0.22 0.70 0.038
inc 279.9 280.15 0.25 718.3 303 1.26 1.54 5.59 0.28
and 287.7 288 0.3 411.4 205 0.73 2.74 0.39 0.20
SP-23-085 208 210.35 2.35 265 147 0.71 0.17 0.14 0.18
inc 208.97 209.29 0.32 1665.3 932 4.51 0.93 0.76 1.12
and 277.45 305.45 28 28.1 8.5 0.037 0.12 0.27 0.019
inc 279.92 280.17 0.25 259.4 105 0.42 0.82 1.83 0.14
inc 288.25 288.6 0.35 201.7 2 0.019 0.06 5.81 0.016
inc 299 299.25 0.25 145.6 10 0.044 2.88 0.36 0.198
inc 300.55 301 0.45 208.9 110 0.39 0.31 0.94 0.10
  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.

Hole ID Easting Northing Elevation (m) Azimuth Dip Final Depth (m)
SP-23-079 575543 5653059 63.4 290 -65 343
SP-23-080 575653 5653012 75 290 -65 493
SP-23-081 576255 5652556 106 280 -45 208
SP-23-082 575502 5653080 66.18 290 -45 54
SP-23-082A 575502 5653080 66.18 295 -45 108
SP-23-083 575376 5652667 78 295 -45 178
SP-23-084 575741 5653185 73 290 -45 352
SP-23-085 575741 5653185 73 290 -55 322

 

 

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.
Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

By Matthew Evanoff

I specialize in the mining industry, focusing on top global mining stocks. My reporting covers the latest industry news, company/project developments, and profiles of key players. With a degree in finance and economics from the University of Toronto, I've contributed to a wide range of industry publications. Beyond my professional pursuits, I have a keen interest in global business and a love for travel.

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