Storm Exploration (Former Name: Lithoquest Resources)

Financials:

Primary ticker: TSXV:LDI
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Miminiska
Project location: Ontario, Canada
Website: www.lithoquest.com

Corporate presentation: Click here

Storm Exploration Inc. is exploring for gold on four district-scale projects in north-western Ontario, Canada. 

 

Storm Exploration has an internationally recognized management and technical team that is supported by durational capital from best-in-class gold fund managers, private equity, and high-net-worth investors.

 

The Company’s flagship project, Miminiska, has extensive drill-confirmed, high-grade gold in banded iron formation. Storm Exploration conducted its first drill program at Miminiska in Q1/2022 and results extended high-grade mineralization by more than 130m. High-priority targets identified in ground geophysical survey results have the potential to extend and expand mineralization on the project. Drilling on the project is scheduled to resume in Q1/2023.

Cash: CAD$1.2M

Debt: NIL


Major shareholders:
Rosseau Asset Management
Crescat Capital
Eric Sprott
Plethora Precious Metals Fund
US Global
Management ownership – 9%

Management Profile

Bruce Counts –  President and Chief Executive Officer
Mr. Bruce Counts has over 30 years experience in international mineral exploration and more than 20 as a director and senior officer of publicly traded companies. He was directly involved in the discovery of the Ekati Diamond Mine as well as the sale of the minority partner, Dia Met Minerals, to the majority owner and operator, BHP. Bruce holds a Bachelor of Applied Science in Geological Engineering from the University of British Columbia and is a registered Professional Geoscientist.

What is your rationale for taking part in 121 Mining Investment?

Lithoquest seeks to create corporate awareness amongst investors with an interest in companies exploring early stage precious and base metals projects. The company is expecting assay results by the end of Q2 from a recently completed drill program and anticipates a return to drilling in Q3.

What recent news would you like to highlight to investors attending?

May 2022 – Storm Exploration Acquires Fourth High-Grade Gold Project in NW Ontario 
Jul 2022 – Storm Exploration Intersects 27.60 g/t Au over 0.59m at Miminiska 
Sep 2022 – Storm Exploration Reports up to 166 g/t Au from Grab Samples at Gold Standard

What are your key goals in 3 months, 6 months, 12 months?

3 Months:

Evaluate results from 2022 field work at Gold Standard Project to define drill targets 

Complete relationship agreement (Exploration Agreement, MOU or similar) with the Eabametoong First Nation covering Miminiska, Keezhik and Attwood Projects

 

6 Months:

Resume drilling at Miminiska Prospect

Acquire drilling permits for Gold Standard

Complete airborne EM surveys at Miminiska, Attwood, Keezhik

 

12 Months:

Continued drilling at Miminiska Prospect
Exploration/Discovery drilling on Miminiska, Keezhik, Attwood & Gold Standard

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

1- Geologic risk: We have a highly qualified technical team with a sophisticated and systematic approach to exploration.
2- Funding risk: Lithoquest has attracted a best-in-class investors that understand the risks and provide durational capital
3- First Nations risk: Lithoquest is actively working with the First Nations on Exploration Agreements that bring certainty and transparency to all parties involved

What do you think makes your company such a compelling investment?

Storm Exploration has a remarkably low market cap given its compelling projects, experienced management and notable shareholders

What are the top 3 key investor takeaways?

Assets: Projects with extensive drill confirmed high-grade gold and multi-million ounce potential located in a stable jurisdiction

 

People: Internationally recognized management and technical team backed by sophisticated and supportive shareholders

 

Near-Term Value Catalyst: Drilling expected to resume in Q1/2023