Company: Stearman Resources
Stock Symbol: CSE:STMN
Date Published: Jan 24, 2023
Transcript: Available

Video Transcript:

Stearman Resources Inc (CSE:STMN) is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol “STMN”.

Stearman Resources Inc. has an option agreement with J2 Metals Inc. to acquire a 75% interest in the Miniac Property, located approximately 35 km north of Amos, Quebec.

The property, located in the northern Abitibi region of Quebec, known geologically as the North Volcanic Zone of the Abitibi Archean Subprovince within the Superior Province of the Canadian Shield, consists of 78 mining claims and covers approximately 41 square kilometres.

Discovered in 1975 by drilling geophysical anomalies, it is classified as a mesothermal, or orogenic gold type occurrence associated with quartzcarbonate veins.

In 2020 Kenorland Minerals Ltd. performed a 2,600 m drilling campaign on behalf of J2 Metals Inc., targeting some EM and MAG anomalies.

The mineralization is interpreted to occur in proximity to a roughly north-south trending and folded chert horizon which separates mafic and more felsic volcanic rocks.

Three zones of mineralization are interpreted to occur along this horizon, Zones A, B, and C.

Work by J2 Metals and Kenorland geologists indicate that significant mineralization occurs over intervals of 10’s of metres, notably 1.38 g/t Au over 11.59 m, 1.26 g/t Au over 5.48m, and 0.64 g/t Au over 32.92 m.

More recently, drilling by Kenorland in 2020 encountered similar style mineralization, including intersections of 1.05 g/t Au and 0.16% Zn over 4.65 m, and 14.5 g/t Ag, 0.17% Cu and >0.66% Zn over 5.66 m.

As at December 31, 2022, the company had approximately $522,000 on hand and has budgeted $124,000 for a Phase I program of geophysics and till sampling.

The shares are bid at $0.10, with no shares offered and no trades.

For more information, please contact Steve Mathiesen, CFO, at 604-281-2240 or by email at steve.mathiesen@shaw.ca.