2024

News

Sterling Metals Provides Update on its Phase 1 Exploration Campaign at the Copper Road Project

August 20, 2024 – Toronto, Ontario – Sterling Metals Corp. (TSXV: SAG, OTCQB: SAGGF) (“Sterling” or the “Company”) is pleased to provide an update on its inaugural Phase 1 exploration campaign at its Copper Road Project (“Copper Road” or the “Project”). Located 80km north of Sault Ste. Marie, Ontario, Canada, Copper Road is a 25,000ha high-potential brownfield copper-molybdenum-silver-gold project associated with the Midcontinent Rift. The Project benefits from its strategic proximity to substantial infrastructure, extensive historical database and excellent project access.

Highlights

• Multiple high-priority, multi-kilometer copper exploration zones have been identified and are currently being evaluated and advanced using a combination of soil trend analysis, magnetic signature data, LiDAR mapping, historical records, and new prospecting efforts.

• Extensive exploration completed in Phase 1 in July includes:  
  • Collected 1,200 surface soil samples with strong copper-molybdenum anomalies emerging (Figure 1).
  • Inversion of property-wide 3,777-line kilometer airborne magnetic survey.
  • Advanced modeling of historical airborne electromagnetic (EM) survey data, including extraction of airborne induced polarization.
  • Initiated interpretation of a new 10cm resolution LiDAR survey:
    • Preliminary results identified extensive historical occurrences including 483 pits, 227 trenches, 12 adits, and 10 shafts across the property (Figure 2).
    • Geological contacts and key structural features are now being interpreted
  • Completed digitization of over 200,00 pages of historical documents from the last 60 years.

• Advancing newly defined targets with continued mapping and sampling which have abundant outcrops and showings:
  • Early stages of mapping have been encouraging with numerous showings with copper sulphide mineralization in the form of chalcopyrite and bornite and often associated with molybdenite and other metal minerals such as magnetite.

• Existing trails leading to target areas are being cleared and reopened as the Company progresses with its soil program and prospecting.

• All efforts continue to prioritize targets for ground geophysics as the Company looks to source potential high tonnage targets associated with the high grade breccias and porphyry system demonstrated most recently via drill holes J2302 and R2301 (see Figure 1). 

Jeremy Niemi, SVP Exploration and Evaluation of Sterling Metals, commented, “The rapid progress we've made in advancing the Project and identifying priority copper exploration zones puts us an excellent position since closing the transaction with Copper Road Resources in May. It is incredibly rewarding to systematically integrate our new data with historical knowledge and then discover new copper showings at the surface. Our focus now shifts to pinpointing large-scale copper targets within this extensive mineralized area and advancing the priority drill targets.”

Phase 1 Exploration Campaign

The Phase 1 exploration campaign at the Copper Road Project is progressing with several key activities. Soil sampling is being extended northwest of Richards Breccia, on the west side of Mamainse Lake, as well as northeast towards the Tribag mine. These areas are being targeted to expand the understanding of the copper mineralization potential across the Project (see Figure 1).

Figure 1: Soil sampling (in-progress) showcasing copper in soil anomalies¹ with historical intercepts

Geophysical targets are also being actively field-tested. Several new outcrops, which appear to contain porphyry vein types similar to those found at Jogran, have been identified. Samples from these outcrops have been collected and sent to the lab for assays, with the results expected to provide further insights into the mineralization system.

In addition to fieldwork, further interpretations of LiDAR, magnetic surveys, ZTEM, VTEM, and radiometrics are ongoing. These efforts are being integrated with current soil and rock sample data, as well as historical drilling and mining operations. The goal is to refine the targeting and focus on higher-impact zones that could host large tonnage and economically viable copper mineralization.

Mathew Wilson, CEO of Sterling Metals commented, “The more data we uncover, the more we appreciate the successful and widespread exploration efforts dating back to the early 1960s. Although we have only been on this Project for a few months, the results have been highly encouraging, and the scale of the potential targets far exceeds our initial expectations.  To find large mines you need large mineral systems and there is no doubt that this is a very large copper system. Our work is now allowing us to hone in and explore new areas that could be potential sources for the extensive copper-molybdenum-gold and silver zones across this large area. We are excited to keep the market informed as we advance towards our maiden drill campaign."

Figure 2: LiDAR survey demonstrating the extensive history of mining and exploration across the property

Qualified Person 

Jeremy Niemi, P.Geo., Senior Vice President, Exploration and Evaluation for Sterling Metals has reviewed and approved the technical information presented herein. 

About Sterling Metals 

Sterling Metals (TSXV: SAG and OTCQB: SAGGF) is a mineral exploration company focused on large scale and high-grade Canadian exploration opportunities. The Company is advancing the 25,000-hectare Copper Road Project in Ontario which has past production, and multiple breccia and porphyry targets strategically located near robust infrastructure and the 29,000-hectare Adeline Project in Labrador which covers an entire sediment-hosted copper belt with significant silver credits. Both opportunities have demonstrated potential for important new copper discoveries, underscoring Sterling’s commitment to pioneering exploration in mineral rich Canada.

For more information, please contact: 

Sterling Metals Corp. 

Mathew Wilson, CEO and Director 

Tel:                       (416) 643-3887 

Email:                   [email protected] 

Website:              www.sterlingmetals.ca  

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 

This news release contains certain “forward-looking information” within the meaning of applicable securities laws. Forward looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “would”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company’s Management’s Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.