Sterling Metals released results from the final holes of the Phase 2 drill program at its 100%-owned flagship Sail Pond Ag-Cu-Pb-Zn project in Newfoundland. The latest results are from the South Zone, where drilling has identified a large mineralized system, the Heimdall zone. In our view, Sterling has made good progress with defining the mineralization at Sail Pond with its maiden drilling program, which appears to occur in discrete structurally controlled areas along the 12km trend. We believe further drilling, planned for Q2/22, could identify additional mineralization along the trend and expand the Heimdall Zone.
Tag: Sterling Metals Corp.
Yesterday, Red Cloud hosted the second day of its three-day 2021 Oktoberfest Fall Mining Showcase, which featured 28 presenting companies including our keynote speaker Matthew Watson, Founder and President of Precious Metals Commodity Management, and had over 1,000 participants registered in advance of the event. With this note, we want to provide a quick recap of the highlights from the conference for those who were unable to attend the live event (see our Day One recap here). If you would like to attend Day Three of Red Cloud’s Oktoberfest Fall Mining Showcase, register here. Replays are available on the Red Cloud website.
Q3 Producer Preview & Commodity Price Update – Lowering Gold Price Forecasts While Most Commodities Increased
Q3 operating and financial results are to be announced over the next few weeks. While gold is out of favour, prices have been trading within a narrow window that have allowed companies to continue to turn profits, despite an uncertain outlook. Late summer was hard on most commodities as precious and industrial metals alike fell on a slowdown in global economic growth due to surging fuel prices, Chinese power restrictions, labour shortages, disrupted global supply chains and a stronger USD. Metal prices came under further pressure as major property developer Evergrande missed further bond payments, impacting iron ore and copper prices. With this update, we provide new commodity price and FX forecasts, updated coverage estimates, and a fresh set of top picks.
Sterling Metals released a second batch of assays from the maiden drill program on its 100%-owned Sail Pond Ag-Cu-Pb-Zn project on the Great Northern Peninsula of Newfoundland. Results from three holes at the South Zone and the first hole from the North Zone continue to show that Sail Pond hosts high-grade Ag-polymetallic mineralization. While encouraging to see continued intersections of this style of mineralization, we believe that thicker intersections of high-grade Ag-polymetallic mineralization are key to a material re-rating for Sterling. In our view, Sterling should be primed to target zones of higher mineralization intensity as it grows its understanding of the geology at Sail Pond.
Sterling Metals reported the first assays from the maiden drill program at its now 100%-owned Sail Pond Ag-Cu-Pb-Zn project located on the Great Northern Peninsula of Newfoundland. Results from nine holes at the South Zone confirm that Sail Pond hosts high-grade Ag-polymetallic mineralization. These results validate the thesis we outlined in our initiation report that the company could make a brand-new discovery at Sail Pond with its maiden drill program. We believe continued positive results from the 25 holes at the lab and ongoing drilling could continue to re-rate the stock.
Red Cloud Securities hosted its Summer Silver Conference last week, achieving over 360 registrants in advance of the event. The conference featured 18 presenting companies and a keynote discussion with Mike DiRienzo, Executive Director of The Silver Institute, who sat down with Taylor Combaluzier to talk about all things silver: the current investment environment, supply, demand, and outlook. We provide a quick recap of the highlights from the conference. And for those who were unable to attend the live event, replays are available on the Red Cloud website.
We are initiating coverage on Sterling Metals Corp. (TSXV:SAG) with a BUY (Speculative) rating and no target price. Sterling Metals is a newly rebranded junior explorer that recently entered an option agreement to acquire 100% of its flagship Sail Pond Ag-Cu-Pb-Zn project located on Newfoundland’s Great Northern Peninsula. Surface mineralization was only discovered in 2016 and it has never been drilled before. Our view is that Sterling Metals has a strong chance to make a brand-new discovery at its highly prospective Sail Pond project with a planned maiden ~7,500m drill program set to commence early this summer.