Storm Exploration Inc. (TSX-V: STRM, FRA: L84) reports progress in its consultations with the Eabametoong First Nation (the “EFN”), on whose traditional territory the three promising gold projects Miminiska, Keezhik and Attwood are located. They are currently at stage five of a six-stage process described in the “EFN Engagement and Consultation Approach for Exploration”. Negotiations have been ongoing since December 2022.
Chief Solomon Atlookan commented: “Storm has been very respectful and collaborative as we discussed the components of a Memorandum of Understanding (MOU) that will govern their projects and the relationship with our community. Mr. Counts was very helpful as we considered environmental protection and the various possibilities for a partnership between EFN and Storm. We hope to finalize this important agreement soon.”
Bruce Counts, CEO of Storm, stated: “Storm’s projects have the potential to host significant mineral deposits. We look forward to beginning exploration on these interesting properties. Storm firmly believes that advancing these projects must include EFN participation and that the community should benefit from any economic success achieved. Storm looks forward to working with the EFN to finalize the MOU.”
The Miminiska, Keezhik and Attwood projects are located within the Miminiska-Fort Hope Greenstone Belt, about 350 kilometers north of the city of Thunder Bay, Ontario. Each project has the potential to host a multi-million ounce orogenic gold deposit. Additionally, the Attwood project also has the potential to host a significant base metal deposit. Miminiska is the company’s main project with historical drill results including 5.75 g/t Au over 20.8 m and 13.95 g/t Au over 5.3 m.
Conclusion: In Canada, nothing happens in terms of exploration without the First Nations. Storm Exploration had to pay a tuition fee for this lesson in the past when the company had to abort its drilling in the 2022 season because the Eabametoong First Nation did not feel sufficiently involved. Starting from this difficult initial situation, CEO Bruce Counts has managed to regain the trust of the First Nation over the past year. According to the statements of Chief Solomon Atlookan, an agreement with Storm seems imminent. Storm could still fully utilize the drilling season if the company receives permission to drill on the project by the end of August or in September. With a final agreement with the Eabametoong First Nation, Storm should be able to raise fresh capital even in a difficult market. The banded iron formation gold at Miminiska is reminiscent of Newmont’s Musselwhite gold mine, located more than 200 km to the northwest, which operates on a fly-in-fly-out basis and is still one of Newmont’s most economically successful projects. Miminiska is logistically much better developed up to the last few kilometers.
