FTMIG - Sterling Metals (TSX-V: SAG) - Exploring for Canada's Next High-Grade Silver District



In this interview, we sit down with Sterling Metals (TSX-V: SAG) CEO & Director Mathew Wilson to talk about the Company's exciting Sail Pond project, located in northwestern Newfoundland, Canada, ~ 32 km southeast of the St. Anthony airport.


Sail Pond is a potential district-scale size, high grade silver, copper, zinc and lead project. Mineralization outcropping at surface was discovered by accident in 2016 by a local highschool principal out for a hike, who grabbed a portion of interesting-looking green rock and brought it to Altius Minerals for analysis. After the sample analyzed at 500 g/t silver and 2.5% copper, the ground in the region was quickly staked by Altius which did some preliminary work prior to initially optioning the property to New Found Gold. New Found Gold did some work on the property as well, including an IP geophysics survey, before returning the project back to Altius so they could focus on their high grade Queensway gold prospect. Mat was able to make a deal with Altius for the property in the fall of 2020; the company (previously Latin American Minerals) underwent a share rollback and name change, and Sterling Metals was born.


Sail Pond has never seen any form of drilling on the property to date, and thus Sterling will be the first to drill the prospect in June 2021 when they commence their fully-funded, 7,500 meter summer drill program. Equipment, drilling personnel and a geology team have all been secured for the project. The drilling will follow up on Sterling's initial exploratory work at Sail Pond conducted in late 2020, which featured trenching and sampling as well as geophysics work. Attention grabbing grades as high as 4,500 g/t silver, 15% copper, and 17% zinc & lead were sampled, which have the team at Sterling extremely excited to drill the property in 2021.


Mineralization at Sail Pond occurs in northeast trending swarms of veins that outcrop at surface, currently identified as two main zones 2 km and 7 km in length over a total 12 km footprint. There are 4 main target areas for drilling within those areas: one zone in the smaller 2 km section at the southwest, and 3 within the larger 7 km section to the northeast. Initial drilling will focus on the 2 km target at the southwest of the trend, as this area has featured the highest grades. The mineralization at Sail Pond has been identified as having similar characteristics to the Keno Hill silver district in the Yukon, which featured high grade silver located in concentrated pods along a trend that led to historical production of over 200M ounces of silver.


Sterling remains well capitalized with about $5.5M in cash at the time of writing, following two successful and oversubscribed capital raises in December 2020 and March 2021. The Company has enough capital to double the size of the summer drill program if initial results are encouraging using just current cash in the treasury, but also has access to approximately $5M additional capital from outstanding warrants currently sitting in the money. Sterling has approximately 47M shares outstanding, over half of which are owned by institutions, management and insiders, which could lead to impressive share price gains in the even they hit good intercepts this summer. Major shareholders include Altius Minerals (~ 14%), Goldspot Resources (~ 5%), Eric Sprott (~7.5%) via legacy holdings in the previous company, and management/insiders/advisors at 15 - 20%.


Sterling currently trades on the Toronto Venture Exchange, symbol SAG, on the OTCQB marketplace under the symbol SAGGF and on the Frankfurt Exchange under symbol LACB.


For more information on the company, visit their website at: https://sterlingmetals.ca/


You can reach out to CEO Mat Wilson via direct message on Twitter via the Company's @SterlingMetals account, or via E-mail at info@sterlingmetals.ca


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