Summary
- High-grade, silver, copper, lead and zinc associated with quartz-carbonate veining
- First discovered in 2016 with ~$7,600,000 spent to date
- 12 km linear soil anomaly with grades in soil of up to 657 g/t silver and 0.68% copper
- Rock sample analysis from trenching of up to 4526 g/t silver, 14.9% copper, 7.5% lead, 9.6% zinc and 0.9 g/t gold
- 16,000m of drilling has led to 400m x 200m x 150m Heimdall zone within a 1km footprint of near surface high grade veining
- Orion survey shows several highly chargeable targets below high grade veining and in line with Heimdall trend lines
- Large project area (13,500 Ha), road accessible and with nearby services and airport
- 100% owned. 2% NSR.
Location and Ownership
- 13,500 Ha project located on Newfoundland’s Great Northern Peninsula, eastern Canada
- Easily accessible by a series of paved highways, forest access roads and trails
- Adjacent to many regional services and within 32 km of the St. Anthony regional airport
- 100% owned. Subject to a 2% NSR
Geological Setting
- High-grade Ag plus Cu-Pb-Zn-Sb (± Au) mineralization found at Sail Pond unique for eastern Canada
- Laurentian Margin – Humber Tectonostratigraphic Zone
- Geology records a prolonged geological history as part of the Appalachian Orogenic cycle
- Active to passive margin environments represented by Early Cambrian to Middle Ordovician rift-related siliciclastics to platformal carbonates
- Parautochthonous and allochthonous displacement resulting in westward verging folds, NE orientated thrust faults, and shear zones
- Dominantly carbonate-hosted Zn ± Pb, Ag occurrences in the region; e.g. Daniel’s Harbour – 7 Mt @ 7.8% Zn (mined between 1975-1990); minor Cu occurrences
- Mineralization is stratabound; occurring in brittle deformed Lower to Mid-Ordovician dolostone; restricted to the western portion of the White Arm Window doubly plunging anticline; bounded and adjacent to major thrust/shear zones
Mineralization
- High-grade Ag plus Cu-Pb-Zn-Sb (± Au) mineralization within four major zones along a 14 km trend; up to 200 m wide; remains open to the north, south, and at depth
- Primary sulphide species include tetrahedrite, sphalerite, galena, and boulangerite; secondary (supergene) minerals include chalcocite, bornite, covellite, and malachite
- Silica ± calcite ± sericite alteration
- Mineralization is generally within, or spatially associated with quartz-carbonate veins, occurs as open-space infilling (clots), disseminations, vein-parallel massive bands or veinlets, and as solution breccia matrix replacement
- Centimeter to meter-scale width quartz-carbonate veins form a conjugate set of steeply dipping veins that are oriented NE-SW, cross-cut by E-W veins; related to D2 (transtensional) and D4 (compressional) deformation events
Multi-Element Regional Soil Correlation
Heimdall Zone
- Over 7,500 meters of drilling has defined the Heimdall Zone
- Heimdall footprint consists of a 400 m x 200 m by 150 m zone of mineralization
- A new zone, Heimdall North was located 500 m to the north, resulting in one of the highest-grade intervals seen to date
- The gap between the two zones remains open
- 4 new exploration targets discovered.
- Favorable geology mapped to depth of 2 km.
- Strong anomaly beneath newly discovered Heimdall North Zone and SP-22-064.
- Surveyed 1.5 km of 14 km trend as a test before large-scale application.
- Drilling underway.
Qualified Person's Statement
Jeremy Niemi, P.Geo., Senior Vice President of Exploration and Evaluation to Sterling Metals, and a Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Minerals Projects, has reviewed and approved the technical information presented herein.