Storm Exploration Inc. (TSX-V: STRM; FRA: L84) acquired the 615 ha Gold Standard project in Northwestern Ontario last spring primarily due to its high-grade historical gold discoveries – for just 60,000 CAD. Now, new geophysical surveys show that the project could also be promising for base metals such as copper and zinc!
Airborne magnetic and electromagnetic (“EM”) surveys have identified a large L-shaped conductivity anomaly in the northwest corner of the property. The anomaly has a strike length of more than five kilometers and occurs in host rock that is commonly associated with volcanogenic massive sulfide (“VMS”) mineralization. This finding is supported by copper and zinc mineralization observed in historical drill holes.
A small anecdote on the side: The Canadian resource company Inco had commissioned the finger-thick drillings with a portable device in 1969 and 1970, but never sent the drill cores from depths of less than 50 meters to the laboratory for analysis. Three of these holes encountered chalcopyrite and sphalerite, which are copper and zinc-bearing minerals respectively (see Figure 1).
Bruce Counts, President CEO of Storm Exploration commented: “This is an exciting development at Gold Standard. The size of the conductivity anomaly combined with the occurrence of chalcopyrite and sphalerite in historical drill holes suggests that this could be a significant base metal VMS system.”
The newly identified conductivity anomaly can be accessed via existing forest roads, making its evaluation simple and cost-effective. Geologically, the anomaly lies along an apparent fold adjacent to the regional Manitou Straits shear zone in the southwest of the property. This structure hosts gold-bearing quartz veins that were mined between 1901 and 1903 (see press release dated September 27, 2022: StormEx reports up to 166 g/t Au from grab samples at Gold Standard).
The Gold Standard property is located within the traditional territory of the Naicatchewenin and Nigigoonsiminikaaning First Nations. StormEX is already negotiating a Memorandum of Understanding with the First Nations that supports mineral exploration at Gold Standard. Once the snow in the area has melted, Storm plans to take grab samples on site and prepare for drilling, which is expected to begin in Q3/2023.
Conclusion: The exploration history of Storm Exploration’s Gold Standard project is a classic. As early as the turn of the 20th century, high-grade gold was mined in small quantities at three locations on the property. Then, in the late 1960s, the resource company Inco used modern technology for the first time and even commissioned four drillings with a portable drilling device. However, the project apparently ranked so low on the list of priorities that the obtained drill cores were not even sent to the laboratory. Nevertheless, copper and zinc ore were already recognized in three of the four holes – at depths of less than 50 meters! This offers StormEX the chance for a perfect follow-up with modern means and under completely different market conditions. Perhaps StormEX will succeed in bringing Inco’s “unfinished business” to a successful conclusion. We are eager to hear further news.
