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Sterling Metals (TSX-V: SAG)(OTCQB: SAGGF) CEO Mathew Wilson on Game Changing Discovery at 100% Owned Sail Pond Silver-Copper-Lead-Zinc Project
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the CEO of Sterling Metals, Mr. Mathew Wilson. Mat, how are you today?
Mathew Wilson: I'm doing great. I'm doing great. Always nice when you're able to put out some good news going into Christmas.
Gerardo Del Real: Well, listen, congratulations are in order. You have yourself a new discovery. You have yourself a robust cash position. And we spoke a bit off air. I wanted to have you on air because I know internally the team is extremely excited with the step change in the exploration process at Sail Pond.
I would love for you to provide the context, because I won't do it justice, but this most recent bit of news is a game changer for the company, and company shareholders.
Mathew Wilson: Sure. And listen, thanks a lot for having me on. Always like talking with you.
This recent piece of news is really exciting for us, because it provides a little bit more certainty on us being in the right spot. We have this 15 kilometer long soil and trench and geophysical anomaly, and that is very far. So three quarters up the way of Manhattan, or for the Canadians who are listeners, from Lake Ontario to the 401.
It's a really big area, and what we're seeing here is now this continuity of near surface, very, very, very high-grade veining for a kilometer, nearly a mile, long now. This is a very large area of mineralization that's near surface, and you've got real potential ounces forming at our Heimdall Zone. And then 500 meters north of Heimdall, you've got another zone showing even better mineralization, really.
You're seeing this one hole we drilled, where all of a sudden the sulfides are providing 1,600 grams silver, and 8.3% copper, 13% lead, 3% antimony, 4% zinc. Look, these are really pretty special grades, and what you see now is this kilometer footprint forming, and so you know that whatever is feeding, this footprint is probably underneath where we are right now. And I think there's going to be a lot more technical details to come as the winter goes on, and we understand more and more and more about this deposit.
But we're in the right place. The feeder is going to be big, and we have an understanding now of what the feeder grades are. These copper-silver polymetallic grades just make this a very special thing that we're chasing.
And to back that all up is that there's real ounces forming at surface that can pin the valuation of the company. So, an upside that is truthfully much higher than I actually initially expected. But these grades, this polymetallic grade, the size of the feeder we're chasing, is pretty special. So, we're really excited to follow up on this.
Gerardo Del Real: You know what I really love? The discovery of the new zone came from boots on the ground prospecting, and really looking at old data. And I think there's not enough companies that actually take the time to put the expense and the effort that it takes to actually put boots on the ground, and go look at some rocks, kick some rocks around, and match that up with the old data. Kudos to you and the team. Can you tell me a bit about what that process was like?
Mathew Wilson: For sure. We have a guy on our team, Rory, who basically spends the entire season ground truthing every structural/AI/theoretical target that we had. He was on a boat in lakes, he was wandering through forests basically for five straight months. We didn't drill a hole until he went and saw it first.
And it's really a telltale sign of, like you said, how important that is, because we have amazing work that's been done by our consultants at SRK and GoldSpot and Mercator, and all our own team. But at the end of the day, you got to go see the ground.
What's interesting about this new discovery is that there were two holes drilled last year around it, and I think about what the zone so far is, I think of it like a bowling lane. And if you're a kid bowling and you have the bumpers up, it's like we drilled two holes into each side of the bumper, and then never got into the lane way, and it took us going back to it and rethinking it to go and see that that lane, that was where we drilled. We drilled in the lane way.
It's just the start. So I think that that also indicates just how early this is. We are still learning. We are figuring things out, and that's why it's so important that we're able to say that we're in the right spot. We're here. This is it.
And so the work that we're doing on the stratigraphy and the zonation, and understanding what breccia areas mean, and where you are in the system. That's all leading us to be more and more confident that where we are is going to lead to this feeder in our next program. And that what we have right now, these two zones connecting, is getting pretty exciting even just on its own.
Gerardo Del Real: What comes next? I mentioned the cash position. I believe it's right at the 4 million dollar mark. That puts you in a very enviable position. There's a lot of juniors right now that their entire market cap isn't 4 million dollars, given the state of the market. So having 4 million in cash, having a new discovery, having... Look, the precious metals and the base metal prices are cooperating with you. It looks like we're going to have a robust 2023 on that front. What comes next for the company?
Mathew Wilson: So right now what we're doing, there's still assays in the lab. Those are more wildcat holes going through the north. We're going to get those back.
We're doing a lot of structural, let's just say, internal work, figuring out what's going on, where the marble units are hitting the veins, why things stop, why things keep going, things like that.
But the program that we're going to do in 2023 is this combination of geophysics and drilling, and we're just putting that plan together right now. But like you said, we're in quite an enviable position right now for juniors, where we have this rapidly advancing asset that has this true world class potential, but we also have 4 million dollars in the bank. So we're not struggling, we're not rushing, we're not feeling pressured at all. We're going to do the right work so that our next goals are the perfect hole, so to speak.
Gerardo Del Real: Congrats on some very, very good work matched with some amazing results. I'm really, really excited to see what 2023 turns up. Anything else to add to that, Mat?
Mathew Wilson: No, I think I'm just... You said it best right there. I'm really excited to see what 2023 turns up too, and I think we're really pushing forward on a globally significant discovery here.
Gerardo Del Real: All right. I suspect that we should be chatting more frequently here, moving forward. Thanks again for your time today.
Mathew Wilson: Thanks very much for having me. Pleasure.
Gerardo Del Real: Cheers.