How old is the young dog? It is not the act of sterilisation that curbs the chewing - it is maturity.
ALL puppies will chew to some degree - some more than others. Like us, dogs start with 'baby teeth' - and progressively lose them until they have their full set of adult teeth at the age of 7 months. This teething period is the time when pups are dynamite at chewing. After this period most (not all) dogs will reduce their chewing.
We have 5 dogs - 1 of our adult French Bulldogs chews constantly - sticks, rocks, kids toys - we have to make sure nothing is left around for her to get (and our dogs have a large lockable yard they live in when we are not around) .
We have a 6 month old pup, that is going through the chewing stage - if he starts to chew something that he shouldn't , we tell him No , then take the item away, and give him a dog toy to continue with...
It will get better in time!
Separating the dogs, and just keeping the older one is okay too - but as others have said - the physical separation will need to be more than just a locked gate (if you get my drift).
Pet ownership is a privilege - not a right, but it should be fun for all parties. (don't keep a pet you don't like!)