{kanada_flagge}Storm Exploration Inc (TSX-V: STRM; FRA: L84) acquired the 615-hectare Gold Standard project in northwestern Ontario last spring primarily for its high-grade historic gold discoveries – for just CAD 60,000. Now, new geophysical measurements show the project could also be prospective for non-ferrous metals such as copper and zinc.
Summary: The exploration history of Storm Exploration’s Gold Standard project is a classic. Back at the turn of the 20th century, high-grade gold was produced in small quantities at three locations on the property. Then commodity company Inco first used modern technology in the late 1960s, even commissioning four drill holes with a portable drill rig. However, the project apparently ranked so low on the list of priorities that the recovered drill cores were not even sent to the laboratory. Nevertheless, copper and zinc ore has already been 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 uter completely different market conditions. Maybe StormEX will be able to bring the “unfinished business” of Inco to a successful end. We are looking forward to the further news.
{kanada_flagge}Storm Exploration Inc (TSX-V: STRM; FRA: L84) acquired the 615-hectare Gold Standard project in northwestern Ontario last spring primarily for its high-grade historic gold discoveries – for just CAD 60,000. Now, new geophysical measurements show the project could also be prospective for non-ferrous 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 rocks commonly associated with volcanogenic massive sulphide (“VMS”) mineralization. This finding is supported by copper and zinc mineralization encountered in historic drill holes. A little anecdote on the side: the Canadian resource company Inco had commissioned the finger-thick drill holes with a portable rig 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).
Figure 1: Conductivity anomaly at Gold Standard – 2022 VTEM survey showing the four locations of Inco’s historical drilling.
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 presence of chalcopyrite and sphalerite in historic drill holes suggests that this may be a significant non-ferrous VMS system.”
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The newly identified conductivity anomaly can be accessed via existing forest roads, making its evaluation simple and inexpensive. Geologically, the anomaly lies along an obvious fold adjacent to the Manitou Straits regional shear zone to 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).
Figure 2: Total magnetic intensity at Gold Standard – 2022 VTEM survey.
The Gold Standard property lies within the traditional territory of the Naicatchewenin and Nigigoonsiminikaaning First Nation. StromEX is already negotiating a Memorandum of Understanding with the First Nations to support mineral exploration at Gold Standard. Once the snow in the area has melted, Storm plans to take grab samples at the site and prepare for drilling, which is expected to begin in Q3/2023.
Summary: The exploration history of Storm Exploration’s Gold Standard project is a classic. Back at the turn of the 20th century, high-grade gold was produced in small quantities at three locations on the property. Then commodity company Inco first used modern technology in the late 1960s, even commissioning four drill holes with a portable drill rig. However, the project apparently ranked so low on the list of priorities that the recovered drill cores were not even sent to the laboratory. Nevertheless, copper and zinc ore has already been 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 uter completely different market conditions. Maybe StormEX will be able to bring the “unfinished business” of Inco to a successful end. We are looking forward to the further news.
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