{kanada_flagge}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 prospective gold projects Miminiska, Keezhik and Attwood are located. They are at stage five of a six-stage process outlined in the “EFN Engagement and Consultation Approach for Exploration”. Negotiations have been ongoing since December 2022.
{kanada_flagge}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 prospective gold projects Miminiska, Keezhik and Attwood are located. They are at stage five of a six-stage process outlined in the “EFN Engagement and Consultation Approach for Exploration”. Negotiations have been ongoing since December 2022.
Chief Solomon Atlookan commented, “Storm was very respectful and good to work with as we discussed the components of a Memorandum of Understanding (“MOU”) that will govern their projects and relationship with our community. Mr. Counts was very helpful as we considered environmental protection and the various partnership opportunities 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 commencing exploration on these exciting properties. Storm strongly believes that the advancement of these projects must include EFN participation and that the community should benefit from any economic success that is 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, approximately 350 kilometers north of the City of Thunder Bay, Ontario. Each project has the potential to host a multi-million ounce orogenic gold deposit. In addition, the Attwood project also has the potential to host a significant base metal deposit. Miminiska is the Company’s flagship 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.
The bottom line is that when it comes to exploration in Canada, nothing works without First Nations. Storm Exploration had to pay a lesson for this in the past when it had to stop drilling in the 2022 season because the Eabametoong First Nation did not feel sufficiently involved. Starting from this difficult position, CEO Bruce Counts succeeded in regaining the trust of the First Nation last year. According to Chief Solomon Atlookan, an agreement with Storm should be imminent. Storm could still take full advantage of the drilling season if it received approval to drill on the project in late August or September. With a final agreement with the Eabametoong First Nation, Storm should be able to raise fresh money even in a difficult market. The banded iron formation hosted gold at Miminsika is geologically reminiscent of Newmont’s Musselwhite gold mine, approximately 150 km to the northwest, which is operated as a fly-in fly-out operation and yet is one of Newmont’s most economically successful projects. Miminiska is logistically much better situated with the all-weather Ogoki Forestry road coming within 25km of the property boundary.
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