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Storm Exploration Plans Drill Program to Test VMS Target at Gold Standard
Storm Exploration Plans Drill Program to Test VMS Target at Gold Standard
VANCOUVER, BC / ACCESS Newswire / May 4, 2026 / Storm Exploration Inc. (TSX-V:STRM) ("Storm" or the "Company") today announced its 2026 exploration plans for the Volcanogenic Massive Sulphide ("VMS") target on its 100% owned Gold Standard Project located 60km north of Fort Frances in Northwestern Ontario, Canada.
Highlights
2026 field program and drilling planned: Storm plans ground geophysics, mapping, prospecting and soil sampling, followed by 10 to 15 core holes totaling 2,000m to 3,000m.
Large VMS target: Gold Standard hosts a 5km-long conductivity anomaly identified by Storm in airborne survey data and interpreted as a potential VMS system.
Drill-Confirmed Massive Sulphide Mineralization: 4 holes drilled by Inco in 1969/1970 intersected significant sulphide mineralization, including Cu and Zn sulphides, over considerable lengths. All holes were less than 50m in length and no assays were completed.
Gold-Copper Potential: Surface rock samples collected by Storm in 2022 near the HW-271 showing returned high-grade results, including up to 166 g/t Au, 197 g/t Ag and 1.47% Cu (see news release here).
"Gold Standard combines all the elements explorers look for in an early-stage VMS target: a geophysical anomaly that is up to 100 metres wide and runs continuously for more than five kilometres, historical drilling along the length of the anomaly that encountered significant sulphide mineralization, including copper and zinc sulphides and finally, confirmed high-grade gold, silver and copper mineralization proximal to the anomaly" said Bruce Counts, President and CEO of Storm. "With ground electromagnetic surveys, soil sampling and drilling planned over the coming months, Storm is entering an exciting phase in the exploration process."
VMS Target
A VMS system is interpreted as the source of the 5km long conductivity anomaly identified in the 2022 Versatile Time Domain Electromagnetic ("VTEM") survey data (see news release here). This is supported by sulphide mineralization observed in drill core in four historical holes drilled by International Nickel Co. of Canada Limited ("the Inco holes") in 1969 and 1970. The historical holes were completed using a small-diameter drill and all were terminated at a depth of less than 50 metres.
Two of the Inco holes encountered significant intervals of sulphide mineralization. Inco hole 428002 intersected a 21m interval of alternating massive sulphides and sulphide stringers that include pyrrhotite, chalcopyrite, and sphalerite. Inco hole 427273 intersected a 19m interval of massive pyrite and lesser amounts chalcopyrite from a depth of 14.9m followed by disseminated pyrite and minor pyrrhotite to the end of the hole at 44.8m
All the Inco holes intersected altered and sheared mafic and ultramafic volcanics with three of the holes exhibiting significant disseminated and semi-massive pyrite-pyrrhotite-chalcopyrite-sphalerite mineralization. Hydrothermal alteration and deformation, evidenced by chlorite, pyrite, pyrrhotite, and magnetite in a schistose host rock, is consistent with a greenstone-belt style VMS setting. A description of the core encountered in the Inco holes, which were not assayed, is provided at the end of this release.
Figure 1 - Large Conductivity Anomaly at Gold Standard
"Canada is host to some of the world's largest and most valuable VMS deposits, including the Horne and Kidd Creek mines," continued Mr. Counts. "The Horne mine, located in Rouyn-Noranda Quebec, operated between 1927 and 1989 and produced 260t of gold and 1.13Mt of copper from 53.7Mt of ore that averaged 2.22% Cu, 6.1g/t Au and 13g/t Ag1,6. The Kidd Creek Mine, near Timmins Ontario, produced a total of 140.4 Mt of ore between 1966 and 2016 at grades of 2.29% Cu, 6.15% Zn, and 86.2g/t Ag1,7."
Gold Potential
The Gold Standard project hosts three historical, small-scale gold mines that operated near the turn of the 20th century: Sairy Gamp (1900 - 1902), HW-271 (1902-1903) and AD34 (no records prior to 1988).
The abandoned HW-271 mine is located approximately 4 km from the large EM anomaly and was mined by Gold Standard Mining Co. between 1902-19038. The site has been visited several times by government geologists, including Berger (1988)1,9, who obtained relatively high-grade values from samples of sulphide rich vein material ranging up to 55.9 g/t Au, 29 g/T Ag, and 1.52% Cu.
Figure 2 - Rock sample with high-grade gold and copper from Gold Standard
In 2022, Storm collected surface rock samples in the vicinity of the HW-271 mine and obtained the following assay highlights:
166 g/t Au, 197 g/t Ag and 1.47% Cu
88.6 g/t Au, 40 g/t Ag and 1.49% Cu
83.4 g/t Au, 45 g/t Ag and 0.96% Cu
77.6 g/t Au, 45 g/t Ag and 2.59% Cu
Gold mineralization at the site occurs in shear-hosted quartz veins that include minor amounts of chlorite, ankerite, pyrite, chalcopyrite (see Figure 2). Samples were processed at an accredited laboratory operated by Activation Laboratories in Thunder Bay.
2026 Exploration Program
The 2026 exploration program at Gold Standard will focus on evaluating the 5-kilometre-long electromagnetic anomaly (EM) identified in a property-wide Versatile Time Domain Electromagnetic ("VTEM") airborne geophysical survey completed by Storm in 2022. The program will be conducted in two phases:
Phase 1 - Target Evaluation
Ground geophysical surveys to increase the resolution of the EM anomaly
Geological mapping, prospecting and soil sampling to identify the most prospective sections of the EM anomaly
Phase 2 - Drilling
10 to 15 core holes to test for the presence of precious metals and critical minerals, as well as determine the dip and thickness of mineralization. It is anticipated that a total of 2,000 m to 3,000 m will be drilled.
Phase 1 is expected to commence in early June once the snow has melted and will take approximately three weeks to complete. Processing and interpretation of the geophysical data and geochemical samples will follow completion of the field work. The phase 2 drill program is anticipated to begin in early July once the supporting data has been received.
Land Tenure, First Nations and Permitting
The Gold Standard Project is located approximately 60km north of the city of Fort Frances and is accessible by all-weather forestry road. The property comprises 289 single cell mineral claims covering 6,121 ha. The project lies within the traditional territory of the Naicatchewenin and Nigigoonsiminikaaning First Nations, both with whom Storm has a Memorandum of Understanding. Permitting for drilling at Gold Standard is ongoing.
Inco Drill Hole Summary
DDH-428002: The hole is dominated by massive to pillowed basalt and gabbro with widespread propylitic textures minor quartz stringers, and occasional amphibole-phenocrysts. From 17.8m, silicious and sericitic massive volcanogenic basalt and schists dominate, with fine-grained, sheared, or slaty fabrics, including minor argillite. schistose slates with micaceous and chloritic bands are reported from 32.6 to 48m (EOH).
Mineralization peaks in sheared schists and basalt between 17m and 38m, with intervals of massive sulphides and sulphide stringers that include pyrrhotite, chalcopyrite, and accessory sphalerite. Highest grades include 30-40% pyrite and pyrrhotite mineralization between 30-34m (semi-massive), 20% pyrite and pyrrhotite at 19m, and disseminated blebs (1%) elsewhere. Mineralization appears to be associated with chloritic, sheared footwall hanging wall contacts in volcanic flows.
DDH-427273:The hole intersected a short upper zone of basic to altered volcanic rock with disseminated to semi-massive pyrite and minor chalcopyrite, followed by a thicker interval of metabasalt/mafic chloritic schist carrying mainly disseminated sulphides and minor magnetite.
The strongest noted mineralization is noted in a 19m interval starting at 14.87m depth and reports massive pyrite with lesser amounts of chalcopyrite. Disseminated pyrite and minor pyrrhotite is noted to the end of the hole at 44.8m
DDH 427984: Hole 42798 intersected alternating altered basalt and gabbro from surface with gneissic, metasedimentary and volcanic rocks near the bottom of the hole at 46m.
Mineralization appears to be mostly sulphide stringers and disseminations dominated by pyrite, pyrrhotite, and locally chalcopyrite in gneiss and mafic units. Alteration is characterised by calcite and amphibolitic overprinting, as well as minor carbonate and quartz veining. In the lower part of the hole, the change into amphibolitic gneiss and foliated light-green gneiss indicates stronger metamorphic fabric and possible recrystallization.
DDH 427285: The hole is dominated by albite-carbonate sheared volcanic rocks with intervals siliceous and sericitic felsic tuff, dacite and minor basalt. Mineralization is dominated by stringers and disseminated pyrite and pyrrhotite. The strongest mineralization occurs at approximately 20m with pyrite in stringers with minor stringers of sphalerite and pyrrhotite blebs hosted in dacite and mafic volcanics. Additional sulphides occur at 34m with pyrite and pyrrhotite stringers plus minor sphalerite and chalcopyrite,
Silicification is implied locally by quartz-bearing material at 21m, while graphitic beds and shearing suggest a more conductive, structurally focused altered horizon in the middle of the hole.
Engagement of Soar Financial Partners
Storm is pleased to announce that it has engaged Soar Financial Partners (Soar Financial) to provide digital marketing and investor outreach services to increase general awareness of the Company. Soar Financial is owned by Mr. Kai Hoffmann who will be responsible for providing the services to the Company under the oversight of Company management.
The agreement to engage Soar Financial Partners (the "Agreement") is for one-year commencing April 23, 2026. The total remuneration payable to Soar Financial is $7,500 USD per month ($90,000 USD over the full one-year term of the Agreement) from the Company's existing working capital allocation for general and administrative expenses. In addition, Soar Financial will also be granted stock options pursuant to the policies of the TSX Venture Exchange under Storm's incentive stock option plan to acquire one hundred thousand (100,000) common shares of the Company with the exercise price of $0.25 per share. These options have a term of five years and will vest in equal quarterly installments over a 12-month period, with no more than 25% vesting in any three-month period, in accordance with the policies of the TSX Venture Exchange. The Agreement and grant of stock options is subject to the approval of the TSX Venture Exchange.
The Firm is arm's length to the Company and has agreed not to trade in the Company's securities during the term of the engagement.
Qualified Person
The technical contents of this news release have been reviewed and approved by Jo Price, M.Sc., MBA, P. Geo., a Director of Storm Exploration Inc. and Qualified Person under National Instrument 43-101.
Footnotes
1 The rock sample data presented herein includes historical results compiled from previous exploration programs and third-party sources. These data have not been independently verified by the author or the current operator and may not conform to current industry standards, including those set out under NI 43-101 or other applicable reporting frameworks. The historical data should not be relied upon as an indication of current mineralization, grade, or economic potential.
2 Blanchard, P.R., Report on hole 42800, Napanee Lake Area, Canadian Nickle Co. Ltd., 1970, Ontario Assessment File 52F03NE0037
3 Runion, Donald, Report on hole 42727, Napanee Lake Area, Canadian Nickle Co. Ltd., 1969, Ontario Assessment File 52F03NE0033
4 Blanchard, P.R., Report on hole 42798, Napanee Lake Area, Canadian Nickle Co. Ltd., 1970, Ontario Assessment File 52F03NE0038
5 Runion, Donald, Report on hole 42728, Napanee Lake Area, Canadian Nickle Co. Ltd., 1969, Ontario Assessment File 52F03NE0039
6 Hannington, Mark D. et. al., The Kidd Creek Volcanogenic Massive Sulfide Deposit-An Update; in Archean Base and Precious Metal Deposits, Southern Abitibi Greenstone Belt, Canada, (2017, Ch. 3), Society of Economic Geologists: v. 19
7 Gibson, Harold L., et. al, The Horne Mine: Geology, History, Influence on Genetic Models, and a Comparison to the Kidd Creek Mine in Exploration and Mining Geology (2000) 9 (2): 91-111
8 Carter, W.E.H., 1904 Mines of Northwest Ontario; Part II; Ontario Bureau of Mines, Annual Report, 1904, v. 13, pt. l, p. 68.
9 Berger, B., 1988 Geology of the Manitou Stretch area; p. 145-148 in Summary of Field work and Other Activities, 1989, Ontario Geological Survey Miscellaneous Paper 141, 275p.
About Storm Exploration Inc.
Storm Exploration is a Canadian mineral exploration company focused on the discovery and development of economic precious and base metal deposits on three district-scale projects in northwest Ontario: Keezhik, Attwood and Gold Standard.
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.
For further information, please contact:
Storm Exploration Inc.
T: +1 (604) 506-2804
E: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Storm Exploration Inc.
View the original press release on ACCESS Newswire
A.Harris--SMC
