Instead, the Company will focus on advancing the Copper-Zinc VMS target identified on its road accessible
The road-accessible
The Gold Standard property is located within the
A property-wide airborne electromagnetic survey conducted by Storm in October of 2022 identified a large conductivity anomaly with a strike length of more than five kilometres that occurs in host rocks that are often associated with Volcanogenic Massive Sulphide ('VMS') mineralization. This is supported by copper and zinc mineralization noted in shallow historical drill holes completed between 1969 and 1971.
Next Steps at Gold Standard
Planning for a scout drill program to test the large VMS target has commenced. The Cu-Zn target can be accessed by an existing network of forestry roads, and it is expected that drilling will commence in Q2/2024. In addition, exploration work aimed at extending the high-grade gold mineralization in the southern part of the property is planned for Q3/2024.
Financing
Storm has elected to cancel the non-brokered private placement financing that was announced on
About
Forward Looking Information
This news release includes certain information that may constitute 'forward-looking information' under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the Company's strategic plans, future operations, future work programs and objectives. Forward-looking information is necessarily based upon estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this press release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Contact:
Tel: +1 (604) 506-2804
Email: bcounts@stormex.ca
(C) 2024 Electronic News Publishing, source