Discovery Alaska Limited has progressed its option to acquire the Boulder Creek Gold-Silver Project in Idaho, completing due diligence and expanding claims, while maintaining a cautious financial position with limited cash reserves.
- Completed due diligence and paid option fee for Boulder Creek project
- Expanding Boulder Creek project area through supplementary claim staking
- Planning exploration targeting historical anomalous zones
- Chulitna Gold Project under strategic review
- Cash reserves at approximately AUD 0.1 million with ongoing funding investigations
Exploration Progress at Boulder Creek
Discovery Alaska Limited (ASX, DAF) has reported steady progress in its pursuit of the Boulder Creek Gold-Silver Project in Idaho, USA. The company executed a binding Heads of Agreement to acquire a 100% interest in the project and successfully completed its due diligence during the December 2025 quarter. This milestone was accompanied by payment of the option fee, securing its position to potentially take full ownership.
In addition to formalising the option, Discovery Alaska is actively expanding the project footprint through supplementary claim staking. This strategic move aims to cover geological strike extensions beyond the initial Idaho State Lease area, which spans approximately 640 hectares near the historic mining town of Silver City. The project’s proximity to Integra Resources Corp.’s DeLamar gold-silver project, historically operated by Kinross Gold Corporation, adds to its prospective appeal.
Exploration Planning and Historical Context
The company is currently focused on detailed exploration planning, targeting zones identified as historically anomalous. This involves reviewing and assessing legacy data from previous explorers, notably Nerco Inc., which conducted work in the 1980s. Notably, no modern exploration has been undertaken in the Boulder Creek area, presenting an opportunity for Discovery Alaska to apply contemporary techniques to potentially unlock new mineralisation.
The planned work program includes confirming historical workings and assessing mineralisation potential, with a focus on epithermal high-grade vein-hosted gold and silver, as well as disseminated mineralisation. This approach reflects a methodical strategy to validate and build upon past exploration efforts before committing to more intensive fieldwork.
Chulitna Project and Corporate Position
Meanwhile, the company’s 100% owned Chulitna Gold Project in Alaska remains under strategic review. Located on state public lands free from Native Title claims, the project covers 15.5 square kilometres and is centred on the Partin Creek gold prospect. Discovery Alaska is reassessing its approach to this asset, signalling a potential shift or refinement in its development plans.
On the corporate front, Discovery Alaska reported cash reserves of approximately AUD 0.1 million as at 31 December 2025. Exploration expenditure for the quarter was modest at around AUD 29,000, reflecting early-stage activities. Director fees accounted for AUD 14,000 of outgoings. The company is actively investigating funding options to support ongoing operations, a critical consideration given its limited cash position.
Looking Ahead
Discovery Alaska’s focus on advancing the Boulder Creek option and expanding its claim area positions it to capitalise on the current strong gold and silver price environment. However, the absence of recent exploration data and the company’s tight financial resources suggest that upcoming quarters will be pivotal. Investors will be watching closely for updates on exploration results and clarity on funding strategies to sustain momentum.
Bottom Line?
Discovery Alaska’s next moves on Boulder Creek and funding will be crucial to unlocking value amid tight cash constraints.
Questions in the middle?
- When will Discovery Alaska commence modern exploration drilling at Boulder Creek?
- What specific funding options is the company considering to support its operations?
- How will the strategic review of the Chulitna Project influence the company’s asset focus?