Featured Company /
Sterling Metals Corp.
In a word associate exercise with most people, the word “Yukon” would get a “gold” response. Fact is, though, Yukon is also home to the Keno Hill Silver District, one of the world’s highest grade silver districts ever. Canadian miners have been searching for the last decade for the next great silver district to continue Canada’s rich mining legacy and a little upstart miner thinks it just may have found one some 8,000 kilometers away on the other side of the country.
The Keno Hill District has garnered worldwide acclaim to producing over 200 million ounces of silver between 1913 and 1989 from only 5.3 million tons of ore with average grades of 44 ounces per tonne.
In what one day may go down as the stuff of legends, the story of the Sail Pond Project in Newfoundland’s Great Northern Peninsula dates back just five years when a local high school principal, Tony Kearney, decided to have some outcrop rocks from virgin land sampled. They returned a stunning 464 grams per tonne (g/t) silver (Ag), 2.48% copper (Cu), 4.53% zinc (Zn) and 2.48% lead (Pb).
Kearney staked 30 claims and subsequently sold them to Altius Resources, a subsidiary of Altius Minerals (TSX: ALS), a recognized leader in mining in Newfoundland. Altius kept staking and adding to the package until it reached more than 600 claims covering 15,000 hectares (150 square kilometers, or nearly 60 square miles), which it later refined to 13,500 hectares. Now enter Newfound Gold, which optioned the property and in 2018 conducted an IP survey, limited gravity and magnetics work to better understand the geology only to exit in 2020 to focus its resources on its emerging and impressive Queensway gold project.
To get a piece of this early-stage project, investors now have to look to Sterling Metals Corp. (TSX-Venture: SAG), who has optioned the 13,500 hectares (540 claims) project – known as the Sail Pond – from Altius. After very compelling initial exploration work by Altius, Newfound Gold and geochemical and geophysics work by Sterling, Sterling is preparing to put the first drill holes in the ground.
The Toronto-based company is new to the public space insomuch that it re-focused in 2020, ultimately changing its name from Latin American Minerals Inc to Sterling Metals Corp. in November after agreeing in August to option Sail Pond. For the project, Sterling gave Altius 19.9% of its company, made obligations to spend at least $1.5 million developing the project within three years and owes Altius a 2% royalty should the project eventually start producing.
While every miner knows that surface samples aren’t necessarily indicative of what is in the ground, they certainly can point the direction and serve as the basis for optimism, especially when samples are the quality of Sail Pond. Some highlights of rock grab samples included:
• 2,030 g/t Ag, 7.08% Cu, 9.40% Pb, 0.46 g/t Au (gold) (South Zone)
A channel sample from a trench in the North Zone returned 1.0 meter grading 499 g/t Ag, 2.66% Cu, 6.80% Pb, 0.27% Zn, 0.33 g/t Au.
With that type of data in tow, Sterling Metals went and raised C$3.75 million in a private placement to continue exploration. This month another private placement was initiated raising another C$3.0 million. The company now boasts a treasury of over $6.5M heading into its first drilling campaign.
The capital raise was immediately followed by forming an advisory board and appointing Denis Laviolette (President of Newfound Gold), Kelly Malcolm (VPEX of Amex Resources) and Mark Raguz (manager of the royalty portfolio at Altius Minerals) as its first members.
The excitement surrounding Sterling and Sail Pond were reflected in a spike in share value for SAG, resulting in the company being named to the 2021 TSX Venture 50, a ranking of top performing companies traded on the TSX Venture Exchange. Sterling was ranked third in the Mining Sector with a market cap increase of 1,387% and a share price increase of 580% during the calendar year of 2020.
Management has kept the share structure tight, comprised of now 46 million shares outstanding. Over 50% of those shares are held by insiders and institutions, making for a relatively tight float.
Adding to the previous samples, Sterling followed up with additional grab samples from historic trenches confirming the high-grade nature of the Sail Pond project that were highlighted by assays of:
• 1,880.0 g/t Ag, 0.38 g/t Au, 8.0 % Cu, 11.9 % Pb, 1.76 % Sb, & 4.59 % Zn, or 3,172.0 g/t Ag Equivalent (AgEq)
Mathew Wilson, President and CEO of Sterling said that, to the best of the company’s knowledge, Sail Pond contains “some of the highest-grade silver values to ever come out of Newfoundland” as well as demonstrating “extremely high base metal grades.”
Furthermore, the scale and district potential of the project cannot be understated. High-grade samples are spread across 12 kilometers of the project. Four known zones have been identified covering 7 kilometers in a straight-line trending NE-SW with samples in the remaining 5 kilometers suggesting continuous mineralization throughout the full 12-kilometer footprint. The identified mineralization remains open in all directions.
It’s still early in exploration, but the quartz-(carbonate)-like nature of the mineralization and the rich silver-antimony (Ag-Sb) nature of the Zn-Pb mineralization resembles that of other Zin-Pb-Ag-Sb veins found in Keno Hill. In fact, an isotope analysis by the Newfoundland Geologic Survey on the Sail Pond project determined that this type of veining is essentially unheard of on the East Coast anywhere in North America. These are, again, the type of veins found in world class districts like Keno Hill and the Silver Valley district in Idaho.
As it happens, the 12-kilometer trend that Sterling is chasing is about the same size as the westen part of the Keno Hill district that produced 200+ million ounces of silver in the 1900s. This portion of Keno Hill was characterized by small, extremely dense ore bodies.
A better understanding if Sail Pond is an East Coast repeat will begin to unfold with the upcoming 7,500-10,000 meter drill program by Sterling.
In addition to the compelling exploration data to date, the ideal infrastructure is in place, meaning Sail Pond truly has the potential to put Canada back on the global silver mining map. Newfoundland, which is actively supporting and envisioning five new mines by 2030, is extremely mining friendly with knowledgeable workers at a mine and upstream in the community. The St. Anthony Airport is only about 30 minutes away and, being a hub for the timber industry affords all the transportation requirements and other infrastructure such as power and water.
The metals industry has been abuzz about silver for the last year for a couple reasons, creating a very favorable macro environment. For starters, inflation is becoming a topic of concern. The Treasury printing trillions of dollars in stimulus in combination with years of ultra-easy monetary policy will catch up to the U.S. eventually. That’s positive for gold and silver as precious metals and stores of value. Second, and maybe even more impactful, is the industrial demand for silver in green technologies. It is integral to solar panels that are seeing an upswing in adoption now that the market is starting to mature, prices are coming down and majors are penetrating new markets constantly nationwide. Silver is also used in electric vehicles, which are seeing a boon in consumer uptake.
Right now, investors should be locked in on the upcoming drill program by Sterling. The early exploration work is terrific as to the opportunity for a major deposit, but as the saying goes in mining, “value is found in the drill bit.”
In the case of Sterling Metals, this is especially true because there are unknowns being investigated as soon as the bit cuts the earth. It certainly appears as though mineralization starts at the surface, but just how deep does it go? Some veins are relatively thin, and others are wide. What happen at 200 meters? Do they widen? Are they part of one contiguous system or are they the dense deposits like at Keno Hill? These and many more are the type of questions that will soon begin to be answered and you can bet the mining community is going to have a close eye on Sterling Metals every inch of the way to see if it has the next great Canadian silver (and base metal) discovery.
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As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Corporate Snapshot:
Sterling Metals Corp.
Stock Symbol:
CA
Stock Exchange:
TSX-Venture
Sector:
Basic Materials
52 Week High:
$0.9300
52 Week Low:
$0.0500
Current Stock Quote / Chart / News: Click here
Information as of
March 30, 2021
In a word associate exercise with most people, the word “Yukon” would get a “gold” response. Fact is, though, Yukon is also home to the Keno Hill Silver District, one of the world’s highest grade silver districts ever. Canadian miners have been searching for the last decade for the next great silver district to continue Canada’s rich mining legacy and a little upstart miner thinks it just may have found one some 8,000 kilometers away on the other side of the country.
The Keno Hill District has garnered worldwide acclaim to producing over 200 million ounces of silver between 1913 and 1989 from only 5.3 million tons of ore with average grades of 44 ounces per tonne.
In what one day may go down as the stuff of legends, the story of the Sail Pond Project in Newfoundland’s Great Northern Peninsula dates back just five years when a local high school principal, Tony Kearney, decided to have some outcrop rocks from virgin land sampled. They returned a stunning 464 grams per tonne (g/t) silver (Ag), 2.48% copper (Cu), 4.53% zinc (Zn) and 2.48% lead (Pb).
Kearney staked 30 claims and subsequently sold them to Altius Resources, a subsidiary of Altius Minerals (TSX: ALS), a recognized leader in mining in Newfoundland. Altius kept staking and adding to the package until it reached more than 600 claims covering 15,000 hectares (150 square kilometers, or nearly 60 square miles), which it later refined to 13,500 hectares. Now enter Newfound Gold, which optioned the property and in 2018 conducted an IP survey, limited gravity and magnetics work to better understand the geology only to exit in 2020 to focus its resources on its emerging and impressive Queensway gold project.
To get a piece of this early-stage project, investors now have to look to Sterling Metals Corp. (TSX-Venture: SAG), who has optioned the 13,500 hectares (540 claims) project – known as the Sail Pond – from Altius. After very compelling initial exploration work by Altius, Newfound Gold and geochemical and geophysics work by Sterling, Sterling is preparing to put the first drill holes in the ground.
The Toronto-based company is new to the public space insomuch that it re-focused in 2020, ultimately changing its name from Latin American Minerals Inc to Sterling Metals Corp. in November after agreeing in August to option Sail Pond. For the project, Sterling gave Altius 19.9% of its company, made obligations to spend at least $1.5 million developing the project within three years and owes Altius a 2% royalty should the project eventually start producing.
While every miner knows that surface samples aren’t necessarily indicative of what is in the ground, they certainly can point the direction and serve as the basis for optimism, especially when samples are the quality of Sail Pond. Some highlights of rock grab samples included:
• 2,030 g/t Ag, 7.08% Cu, 9.40% Pb, 0.46 g/t Au (gold) (South Zone)
A channel sample from a trench in the North Zone returned 1.0 meter grading 499 g/t Ag, 2.66% Cu, 6.80% Pb, 0.27% Zn, 0.33 g/t Au.
With that type of data in tow, Sterling Metals went and raised C$3.75 million in a private placement to continue exploration. This month another private placement was initiated raising another C$3.0 million. The company now boasts a treasury of over $6.5M heading into its first drilling campaign.
The capital raise was immediately followed by forming an advisory board and appointing Denis Laviolette (President of Newfound Gold), Kelly Malcolm (VPEX of Amex Resources) and Mark Raguz (manager of the royalty portfolio at Altius Minerals) as its first members.
The excitement surrounding Sterling and Sail Pond were reflected in a spike in share value for SAG, resulting in the company being named to the 2021 TSX Venture 50, a ranking of top performing companies traded on the TSX Venture Exchange. Sterling was ranked third in the Mining Sector with a market cap increase of 1,387% and a share price increase of 580% during the calendar year of 2020.
Management has kept the share structure tight, comprised of now 46 million shares outstanding. Over 50% of those shares are held by insiders and institutions, making for a relatively tight float.
Adding to the previous samples, Sterling followed up with additional grab samples from historic trenches confirming the high-grade nature of the Sail Pond project that were highlighted by assays of:
• 1,880.0 g/t Ag, 0.38 g/t Au, 8.0 % Cu, 11.9 % Pb, 1.76 % Sb, & 4.59 % Zn, or 3,172.0 g/t Ag Equivalent (AgEq)
Mathew Wilson, President and CEO of Sterling said that, to the best of the company’s knowledge, Sail Pond contains “some of the highest-grade silver values to ever come out of Newfoundland” as well as demonstrating “extremely high base metal grades.”
Furthermore, the scale and district potential of the project cannot be understated. High-grade samples are spread across 12 kilometers of the project. Four known zones have been identified covering 7 kilometers in a straight-line trending NE-SW with samples in the remaining 5 kilometers suggesting continuous mineralization throughout the full 12-kilometer footprint. The identified mineralization remains open in all directions.
It’s still early in exploration, but the quartz-(carbonate)-like nature of the mineralization and the rich silver-antimony (Ag-Sb) nature of the Zn-Pb mineralization resembles that of other Zin-Pb-Ag-Sb veins found in Keno Hill. In fact, an isotope analysis by the Newfoundland Geologic Survey on the Sail Pond project determined that this type of veining is essentially unheard of on the East Coast anywhere in North America. These are, again, the type of veins found in world class districts like Keno Hill and the Silver Valley district in Idaho.
As it happens, the 12-kilometer trend that Sterling is chasing is about the same size as the westen part of the Keno Hill district that produced 200+ million ounces of silver in the 1900s. This portion of Keno Hill was characterized by small, extremely dense ore bodies.
A better understanding if Sail Pond is an East Coast repeat will begin to unfold with the upcoming 7,500-10,000 meter drill program by Sterling.
In addition to the compelling exploration data to date, the ideal infrastructure is in place, meaning Sail Pond truly has the potential to put Canada back on the global silver mining map. Newfoundland, which is actively supporting and envisioning five new mines by 2030, is extremely mining friendly with knowledgeable workers at a mine and upstream in the community. The St. Anthony Airport is only about 30 minutes away and, being a hub for the timber industry affords all the transportation requirements and other infrastructure such as power and water.
The metals industry has been abuzz about silver for the last year for a couple reasons, creating a very favorable macro environment. For starters, inflation is becoming a topic of concern. The Treasury printing trillions of dollars in stimulus in combination with years of ultra-easy monetary policy will catch up to the U.S. eventually. That’s positive for gold and silver as precious metals and stores of value. Second, and maybe even more impactful, is the industrial demand for silver in green technologies. It is integral to solar panels that are seeing an upswing in adoption now that the market is starting to mature, prices are coming down and majors are penetrating new markets constantly nationwide. Silver is also used in electric vehicles, which are seeing a boon in consumer uptake.
Right now, investors should be locked in on the upcoming drill program by Sterling. The early exploration work is terrific as to the opportunity for a major deposit, but as the saying goes in mining, “value is found in the drill bit.”
In the case of Sterling Metals, this is especially true because there are unknowns being investigated as soon as the bit cuts the earth. It certainly appears as though mineralization starts at the surface, but just how deep does it go? Some veins are relatively thin, and others are wide. What happen at 200 meters? Do they widen? Are they part of one contiguous system or are they the dense deposits like at Keno Hill? These and many more are the type of questions that will soon begin to be answered and you can bet the mining community is going to have a close eye on Sterling Metals every inch of the way to see if it has the next great Canadian silver (and base metal) discovery.
About AllPennyStocks.com:
AllPennyStocks.com Media, Inc., founded in 1999, is one of North America’s largest and most comprehensive small-cap / penny stock financial portals. With Canadian and U.S. focused penny stock features and content, the site offers information for novice investors to expert traders. Outside of the countless free content available to visitors, AllPennyStocks.com Pro (premium service) caters to traders looking for that trading edge by offering monthly stock picks, daily penny stock to watch trade ideas, market commentary and more.
As a result of its commitment to journalistic excellence and abundance of information in a particular area of equity investing (micro-cap investing) where there aren’t many credible sources of information, AllPennyStocks.com continues to have one of the largest audiences of micro-cap investors on the internet.
Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Sterling Metals Corp. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Sterling Metals Corp.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
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