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Sterling Metals jumps on discovery

Kitco News

Kitco News

Sterling Metals (TSXV:SAG) said today it made a discovery at its Sail Pond Silver and Base Metal Project in the Great Northern Peninsula of Newfoundland.

Significant drill results were 3,499.1 g/t Ag Eq over 0.35 m (1,564 g/t Ag, 8.33% Cu, 12.83% Pb, 2.74% Sb, & 3.93% Zn) within a broader interval of 294 g/t Ag Eq over 4.67m (129 g/t Ag, 0.66% Cu, 1.19% Pb, 0.22% Sb, & 0.45% Zn in hole SP-22-064 beginning at 179.23 m downhole.

Sterling Metals traded up 31% to 31 cents a share.

Mathew Wilson, CEO of Sterling Metals, commented: "It is a pleasure to finally share with the market the terrific work we have done in only our second drill campaign at Sail Pond. This drill campaign solidifies the Heimdall Zone footprint, a 400m x 200m x 150m zone of mineralization. Through boots on the ground prospecting and reinterpretation of old data, we were also able to discover a completely new zone, 500m to the north, where previous drilling had not been able to identify a mineralized structure. This resulted in one of the highest-grade intervals we have seen to date, and the highest-grade copper and antimony we have seen at the project.

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