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Sterling Metals (TSXV: SAG) announced a significant discovery of a new high-grade copper zone at the Soo project in Ontario, causing its shares to double to C$1.82 on Monday morning. The company’s market value is approximately C$68 million. The discovery stems from drill hole MEPS-25-02, which intersected 68 metres grading 1.39% copper, 1.83 grams gold per tonne, and 8.46 grams silver from a depth of 179 metres, including 9 metres at 6.8% copper, 13.2 grams gold, and 46.26 grams silver.
Situated near Batchawana Bay, about 20 minutes from the Trans-Canada Highway and 80 km north of Sault Ste. Marie, the Soo project spans 250 sq. km and extends 30 km in width. Historical production in the area yielded 7.6 million tonnes grading 1.97% copper. Sterling is entering the second stage of drilling with an expanded plan from 3,000 to at least 6,000 metres, alongside an exploration deal with the Garden River First Nation for 210,000 common shares.
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