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Sterling Metals Expands its Critical Metal Portfolio within Newfoundland and Labrador
TORONTO, ON / ACCESSWIRE / March 6, 2023 / Sterling Metals Corp. (TSXV:SAG and OTCQB:SAGGF) (" S...
About this update from Sterling Metals Corp.
[{"type":"text","content":"Sterling Metals Expands its Critical Metal Portfolio within Newfoundland and LabradorTORONTO, ON / ACCESSWIRE / March 6, 2023 / Sterling Metals Corp. (TSXV:SAG and OTCQB:SAGGF) (\"Sterling Metals\", \"SAG\" or the \"Company\") is pleased to announce that it has entered into an option agreement (the \"Agreement\") dated March 6, 2023, with Chesterfield Resources Plc. (LSE:CHF, \"Chesterfield\") and its wholly owned subsidiary Chesterfield (Canada) Inc. (\"Chesterfield Canada\") and together with Chesterfield (collectively, the \"Optionors\") pursuant to which SAG has been granted the exclusive option to acquire 100% of the Adeline Copper-Silver Project (\"Adeline\" or the \"Project\") in Labrador, Canada (Figure 1).Highlights of the Adeline Copper-Silver Project:297 km2 district-scale land position prospective for sediment-hosted high-grade copper and silver mineralization with 44 km of strike length of the target stratigraphic horizon (Adeline Island Formation);Strong geological comparisons with preferred epigenetic sediment-hosted copper deposits such as Udokan (estimated reserves of 1.2 Bt at 2% Cu;Robust early-stage exploration database including Mag/IP/Resistivity and over 250 copper samples assaying as high as 26.9% Cu (see Figure 2);Pipeline of exploration targets at different stages of development including two drill-ready targets at two key prospects, one of which has returned an encouraging intercept of 1.76% Cu and 58.2 g/t Ag over 7.9 m on the edge of a large chargeability anomaly (2011, Playfair hole SL-11-10); andProject located close to road, rail, and power infrastructure and within 500 km of the Sail Pond project allowing for strong economies of scale for exploration.Watch CEO Mathew Wilson discuss today's announcement here.Mathew Wilson, CEO of Sterling Metals commented, \"Our focus is to establish the foundation for a successful Canadian mining company in one of Canada's most favourable yet underexplored districts. Canada was once a global leader in copper production but has since fallen off the map due to a lack of new high grade greenfield discoveries. As the country looks to enhance its domestic security of supply of critical metals, new large-scale high-grade discoveries in metals such as copper, silver, and to some degree zinc and antimony, sticks out as a key missing piece.With the option of Adeline, we w...