TORONTO, ON / ACCESSWIRE / March 6, 2023 / Sterling Metals Corporation (TSXV:SAG and OTCQB:SAGGF) (“sterling metal“,”sag” or “company“) is an option contract (“agreement“) dated March 6, 2023, Chesterfield Resources, Inc. (LSE: CHF, “Chesterfield”) and its wholly owned subsidiaries Chesterfield (Canada) Inc. (“Chesterfield Canada”) and Chesterfield (collectively, the “Option Providers”) acquire has been granted an exclusive option for 100% of the Adeline Copper-Silver Project (“Adeline” or “plan) is located in Labrador, Canada (Figure 1).

Highlights of the Adeline Copper-Silver project:

• 297 km² A regional-scale land location with potential for sediment-hosted high-grade copper and silver mineralization (Adeline Island Formation) with a strike length of 44 km on the target stratigraphic horizon.
• Strong geological comparison with preferred epigenetic sedimentary host copper deposits such as Udokan (estimated reserves of 1.2 Bt at 2% Cu;
• A robust early stage exploration database containing over 250 copper samples analyzing Mag/IP/Resistivity and 26.9% Cu (see Figure 2).
• The pipeline of exploration targets in various stages of development includes two drill-ready targets at two major prospects.one of which returned promising intercepts of 1.76% Cu and 58.2 g/t Ag over 7.9 m at the edge of the large charge rate anomaly (2011, Playfair Hall SL-11-10); and
• Projects located within 500 km of the Sail Pond project, close to road, rail and power infrastructure, enable large economies of scale for exploration.

Read how CEO Mathew Wilson explains today’s announcement here.

Sterling Metals CEO Mathew Wilson said: New large-scale high-grade discoveries in metals such as copper, silver, and to some extent zinc and antimony persist as countries seek to tighten domestic security of supplies of vital metals. It is out as a key missing item.

Adeline’s option means that two assets with these attributes are within a 30 minute flight of each other. We await the first results of the Orion survey at Sail Pond, which shows the potential for true size at depth in systems rich in polymetals, silver and copper.

I would also like to take this opportunity to welcome Chesterfield and its shareholders to Sterling. We are confident that by the end of 2023 we will be able to recognize the true potential of both these exciting assets. ”

Dr. Neil O’Brien, Technical Advisor at Sterling Metals, commented: With the mineralogy of the very rich copper ore, the efficient metal traps necessary to form economical copper-silver deposits, and the hundreds of copper shows that enable multiple camp-scale discoveries, a number of Promising geological strike coverage on a kilometer scale. With our extensive exploration and research database, we look forward to leveraging our deep understanding of the project to develop smart drill targets in a cost effective and timely manner. . ”

Figure 1: Adeline Project in Labrador, Canada

Optional conditions

1. Sterling has the option to acquire 100% undivided legal and beneficial interest in the project by making the following cash payments and issuing the following shares of common stock (respectively, “common stock“) Company capital:
2. Make cash payments totaling $800,000 (collectively, “cash payment“) to Chesterfield as follows:

   1. $100,000 upon signing the contract.
   2. $300,000 on the closing date or forty-five (45) days after the signing of this Agreement, whichever is earlier.and
   3. $400,000 by November 30, 2024.

3. Issue an aggregate of 9,000,000 shares of common stock to option providers as follows:

   1. 4,500,000 shares of common stock on the closing date.
   2. 4,500,000 shares of common stock by November 30, 2024

Adeline Copper Silver Project

Consisting of approximately 30,000 hectares and 44 km of copper-silver rich terrain, the Adeline Project covers the most recent volcanic sedimentary sequence of the Mesoproterozoic Mesoproterozoic known as Seal Lakes. The Seal Lake Group consists of upper crustal clayey and sandy sedimentary rocks intruded by basaltic flows and gabbro sills. Volcanic sedimentary rocks were formed as a result of large-scale continental sedimentation through submarine-to-shallow water transitions during rift-associated uplift and erosion cycles.

Structurally, the Seal Lakes rocks are in thrust contact with the Paleoproterozoic granitoids of Trans-Labrador Batholith to the south. The massive tectonic deformation associated with the 1.3 to 1.0 Ga impact evolution of the Rodinian supercontinent resulted in stratigraphic repetition of the sequence, intricately folding the group into an eastward-facing bifurcation 120 km long and 45 km wide. Formed a heavily plunging syncline. The southern tip of the syncline was overturned and pushed north during the Grenville orogeny (~1.0 Ga). The western side of the syncline shows more severe deformation with tighter folding than the eastern side (Altius, Seal Lake Copper Project Technical Report, 2015; TS van Nostrand, Geology of the Seal Lake area, 2010).

The copper–silver mineralization hosted in the Adeline Project sediments formed in response to the same globally significant geological event, the Grenville orogeny. The Grenville orogeny formed huge copper deposits in Michigan’s Keweenawan Copper Belt and contributed to the formation of that important copper deposit. Zambia and Kalahari copper belts.

mineralization

The sediment-hosted copper deposit class is attractive because it can yield orebodies hosting large tonnages similar to porphyry copper deposits, but at significantly higher grades. An example is KGHM’s Rubin mine in Poland. It has been in production since 1968 and hosts 2.6 billion tonnes of ore graded 2% copper. At Adeline, both the geological setting and the style of copper mineralization suggest favorable environments to host stratified-bound copper deposits in sedimentary hosts.

Figure 2: Copper output at the Adeline Project

Figure 3: Historic Grab Sample

Copper mineralization in Adeline is structurally controlled, commonly associated with quartz +/- carbonate veins similar to Udokan in Russia, and is highly influenced by the oxidation state (oxidation versus reduction) of different rock types. (Altius, Seal Lake Copper Project Technical Report, 2015). Mineralization he occurs in two different styles.

• As a bedding, fine-grained seed masses of chalcopyrite ± bornite ± chalcopyrite with juxtaposed foliate structures and cleavages graded into lamellar lenses of similar composition in grey, green to black shale. Chalcocite ± bornite ± chalcopyrite stringers and quartz-carbonate veins are also present in diorite and basalt, as well as gray, green to black shale, arenite and phyllite (reduced “gray strata”). To do. Mainly present in the Adeline Island Formation.
• Natural copper-bearing quartz carbonate veins within the red slate and/or strongly hematized basalt units of the Salmon Lake, Whiskey Lake, and Ushusk Lake Formation.

infrastructure and jurisdiction

This project retains many advantages in case of future development. Newfoundland and Labrador remain in the top 10 mining jurisdictions, as they were before the Fraser Institute. The project is easily accessible by helicopter from Goose Bay. The Trans Labrador Highway is approximately 112 km away, the Hydro Access Road is 61 km away and the 5,428 MW Churchill Falls Power Station is 180 km away.

qualified person

Jeremy Niemi, P.Geo., Sterling Metals Director of Exploration, has reviewed and approved the technical information contained herein.

About Sterling Metals

Sterling Metals (TSXV:SAG and OTCQB:SAGGF) is a mineral exploration company focused on Canadian exploration opportunities. The company is currently working on his 100% owned Sailpond project on Newfoundland’s Great Northern Peninsula. The Sail Pond Project consists of high grade silver, copper, lead and zinc, with quartz carbonate veins, crushed drostone and 100% sulfate veins. The project is a brand new discovery, first discovered in 2016 and not drilled until 2021. The project covers an area of ​​13,500 hectares and is easily accessible by road from nearby services and the airport.

For more information, please contact:

Sterling Metals Corporation
Matthew Wilson, President and CEO
Phone: (416) 643-3887
Email: This email address is being protected from spambots. JavaScript must be enabled to view.
Website: www.sterlingmetals.ca

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