Sail Pond

Project Information

Project Summary
  • High-grade, silver, copper, lead and zinc associated with quartz-carbonate veining
  • Discovered in 2016, no prior drilling and ~$1,500,000 spent to date
  • 12km linear soil anomaly with grades in soil of up to 657g/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
  • Two defined target zones – combined strike-length of 9 km open in all directions
  • Large geophysical anomalies run directly beneath trend lines
  • Large project area (13,500 Ha), road accessible and with nearby services and airport
  • Sterling Metals has the option to earn 100% of this project via $500,000 in spending by October 2, 2021 and $1,500,000 in spending by October 2, 2023.
Sail Pond
SAIL POND PROJECT AREA VIEWING NORTH FROM THE SOUTH MINERALIZED ZONE
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
  • Option to own 100% interest subject to a 2% NSR
SAIL POND PROJECT LOCATION
Coordinates: 578000mE, 5657000mN (NAD27, UTM Zone 20N)


Geological Setting
  • High-grade Ag plus Cu, Pb, and Zn 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 and 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
Map of NewFoundLand
GEOLOGICAL MAP OF NEWFOUNDLAND
Mineralization
  • High-grade Ag plus Cu, Pb, Zn (± Au) mineralization within two zones exposed at surface
  • Main sulphide species; tetrahedrite, sphalerite, galena, boulangerite, chalcocite
  • Combined strike-length of 9 km; up to 200 m wide; remains open to the north and south, and a depth
  • Quartz-carbonate vein hosted – orogenic, multi- stage; cm to meter-scale widths
  • Lower to Mid-Ordovician dolostone (or dolomitized limestone) is the primary trap rock; stratabound and
    brittle fracturing
  • Silica, dolomite ± calcite ± sericite alteration
  • Quartz veins related to D2 (transtensional) & D4 (compressional) deformation events
  • Adjacent to the west margin of the White Arm Window doubly-plunging anticline; bounded and adjacent to major thrust/shear zones
Multi-element Soil Geochem Highlights Zones
Strong correlation of Ag, As, Cu, Pb, Sb, Zn (+ Cd, not shown) over a combine strike length of 12km


IP + Gravity (105 line-km)
Strong gravity anomaly underlies the distinct trendline providing potential galena or sulfide rich zones of mineralization
Potential Project Analog
“While it is still early, the quartz-(carbonate)-like nature of mineralization, and the Ag-Sb-rich nature of the primary Zn-Pb mineralization could suggest this is similar to the structurally hosted Zn-Pb-Ag-(Sb) veins found in metasedimentary belts around the world such as Coeur d’Alene in Idaho or Keno Hill in Yukon. “ – Dr. Stephen Piercey, NI 43-101 on the Sail Pond Project
NI-43101
Click here for the September, 2020 NI-43101 Technical Report for the Sail Pond Project
Qualified Person’s Statement

Roderick Smith, M.Sc., P.Geo., Chief Geologist for Altius, is the Qualified Person as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects. Mr. Smith is responsible for the scientific and technical data presented herein and has reviewed and approved this project summary.