- Sterling Metals (TSXV:SAG) has completed the acquisition of the Copper Road Project in Ontario from Copper Road Resources (TSXV:CRD)
- The Copper Road project is a 24,000-hectare high-potential brownfield copper-moly-silver-gold project
- Recent drilling and past production from two of the mines suggest the potential for large intrusion-related copper mineralization
- Shares of Sterling Metals are unchanged at C$0.05
Sterling Metals (TSXV:SAG) has completed the acquisition of the Copper Road Project in Ontario from Copper Road Resources (TSXV:CRD).
The Copper Road project is a 24,000-hectare high-potential brownfield copper-moly-silver-gold project.
In a news release, the company stated it acquired the property through the acquisition of Copper Road Resource’s subsidiary, 100797918 Ontario, by issuing 108 million common shares, of which 86 million are consolidated shares that will be issued to Copper Road Resources’ shareholders.
“We are excited to complete the acquisition of Copper Road, adding a complementary and compelling project to our growing Canadian exploration portfolio,” Mathew Wilson, CEO of Sterling Metals, said in a statement. “The timing of the transaction represents a significant opportunity for existing and new shareholders of Sterling, as we enter a new copper supercycle, largely the product of years of underinvestment and lack of discoveries.”
In the coming weeks, the company anticipates beginning a Phase I drilling program.
Sterling Metals is a mineral exploration company focused on large-scale and high-grade Canadian exploration opportunities, including the Copper Road Project in Ontario.
The company also holds the Adeline Project in Labrador, wich spans 29,000 hectares and covers a sediment-hosted copper belt with silver credits.
Shares of Sterling Metals (TSXV:SAG) are unchanged at C$0.05.
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