Impact: Positive
Sterling reported results for 34 holes (7,500m) from its 2022 drill program at its 100%-owned Sail Pond Ag-base metal project in the Great Northern Peninsula of Newfoundland. Drilling targeted the Heimdall zone and a newly discovered high-grade zone ~500m north Heimdall – both in the South zone of the project. The mineralized structure now extends across a 1km strike and the gap between the Heimdall and new zone remains open. We believe Sterling continues to make good progress defining the mineralization at Sail Pond – particularly the South zone, where two mineralized areas have now been identified. We view the high-grade Ag-base metal intersections positively and are encouraged that broader intercepts are being defined. Additionally, the results from the recently completed downhole televiewer study should help Sterling further define the Heimdall zone. We believe the next step for Sterling is to demonstrate the scale of this zone and tie the mineralization together.