Discovery Alaska has completed due diligence and secured an option to acquire a 100% interest in the Boulder Creek Gold-Silver Project in Idaho, while expanding its claim area to cover promising geological extensions.
- Option fee paid to acquire 100% interest in Boulder Creek Project
- Project covers ~640 hectares with additional claims being staked
- Prospective for high-grade epithermal gold-silver mineralisation
- Historical exploration from 1980s reviewed for targeted follow-up
- 2 million shares to be issued to vendors as part of agreement
Discovery Alaska Advances Boulder Creek Acquisition
Discovery Alaska Limited (ASX – DAF) has taken a significant step forward by completing due diligence and paying the option fee to acquire a 100% interest in the Boulder Creek Gold-Silver Project, located in Idaho, USA. The project spans approximately 640 hectares under an Idaho State Lease and is situated about 90 kilometres southwest of Boise, placing it in a historically rich mining region.
Expanding the Project Footprint
Beyond the initial lease area, Discovery Alaska is actively staking additional claims to cover strike extensions of the prospective geological structures. This expansion reflects the company’s confidence in the project's potential to host significant epithermal high-grade vein-hosted and disseminated gold-silver mineralisation. The move to enlarge the project area could enhance the scale and scope of future exploration activities.
Historical Context and Exploration Plans
The Boulder Creek Project benefits from a legacy of exploration dating back to the 1980s, initially conducted by Nerco, Inc., prior to its acquisition by Kennecott Corporation and Rio Tinto. Despite this historical work, no modern exploration techniques have been applied to the area, presenting an opportunity for Discovery Alaska to leverage contemporary methods. The company is currently reviewing historical data and planning targeted exploration to follow up on previously identified anomalous zones.
Strategic Location and Market Timing
Strategically, the project lies near the historic mining town of Silver City and close to Integra Resources Corp.’s DeLamar gold-silver project, where Kinross Gold Corporation operated until the late 1990s. This proximity to established mining infrastructure and known deposits adds a layer of geological credibility. Moreover, with gold and silver prices at record highs, the timing of this acquisition and exploration push could provide Discovery Alaska with direct leverage to precious metal markets.
Share Issuance and Future Prospects
As part of the binding Heads of Agreement, Discovery Alaska will issue 2 million shares to the vendors, aligning interests and securing the option to fully acquire the project. The company’s management has expressed enthusiasm about progressing Boulder Creek alongside ongoing efforts to identify additional project opportunities in the United States, aiming to build long-term shareholder value.
Bottom Line?
Discovery Alaska’s Boulder Creek move positions it well to capitalise on high gold-silver prices, but exploration results will be the true test.
Questions in the middle?
- What timeline has Discovery Alaska set for initial exploration results at Boulder Creek?
- How might the additional claim staking impact the overall resource potential?
- What are the company’s plans for financing exploration and development activities?