Twitter Facebook LinkedIn YouTube

New Listing: Western Alaska Minerals (TSXV:WAM)

Video Platform Video Management Video Solutions Video Player

Western Alaska is a mineral exploration company focused on advancing its 100% owned "Illinois Creek Mining District", a land package exceeding 49,000 acres.

Additional Information:

Company: Western Alaska Minerals
Website: http://www.WesternAlaskaMinerals.com
Stock Symbol: TSXV: WAM
Date Published: Nov 15, 2021
Transcript: Available

Video Transcript:

I’m Katriina Cotten for Investmentpitch Media

Western Alaska Minerals is one of the latest new listings on the TSX Venture Exchange, trading under the symbol “WAM”.

Western Alaska is a mineral exploration company focused on advancing its 100% owned "Illinois Creek Mining District", a land package exceeding 49,000 acres.

The Illinois Creek Property is located in the southern Kaiyuh Mountains just east of the Yukon River in western Alaska, approximately 490 km west of Fairbanks.

The District contains multiple deposits, originally discovered by Anaconda Minerals in the 1980s, and consolidated by Western Alaska's management team over the past 10 years.

The portfolio of five high-grade mineral deposits contains gold, silver, copper, lead, and zinc at varying stages of exploration and deposit styles, including a silver-rich Carbonate Replacement Deposit and a past producing oxide gold mine from 1996 to 2002, with reclamation completed.

A combined in-situ and leach pad NI 43-101 resource of 525,000 ounces gold equivalent consisting of 359,000 ounces gold, 13,400,000 ounces silver and 55 million pounds of copper, was published earlier this year at the Illinois Creek deposit.

2021 drilling at Illinois Creek is the first significant drilling on the property in over 15 years and the first program by Western Alaska after its acquisition and consolidation of the property in 2018.

The program was designed to make initial tests on a variety of high-quality targets in anticipation of introducing the property and district to the public market.

Wide spaced drilling tested a series of targets at Illinois Creek including hole WPC21-09 which returned 1,949 grams per tonne silver equivalent over 8.1 metres true thickness at 540 g/t silver, 23.5% zinc and 16.1% lead.

Assays are pending from 2021 drilling at the Honker Gold and Last Hurrah CRD prospects.

Kit Marrs, CEO, stated: "Completion of the RTO transaction and subsequent listing of Western Alaska Minerals Corp. on the TSX.V marks a major milestone for our company. We have pursued exploration of our properties as a private company since 2008, but now as a public company we can accelerate our drilling programs at Waterpump Creek and Last Hurrah carbonate replacement deposits and our advanced high-grade Honker Gold prospect. Access to the public capital markets will allow us to fully utilize our three company-owned drill rigs in a greatly expanded program so that we can unlock the potential of the Illinois Creek District. Our 2021 drill program confirmed wide intervals of high-grade Ag-Zn-Pb CRD sulphide mineralization, (1,949 AgEq over 8.1 m true thickness at 540g/t Ag, 23.5% Zn and 16.1% Pb) below a historically drilled near-surface Ag-oxide deposit. The mineralization is open to expansion at depth and will be a major focus of future exploration. The CRD environment at Illinois Creek has the hallmarks of a large-scale system, and we look forward to systematically exploring and advancing the project."

The company has a strong treasury, having recently raised $5.2 million at $0.85 per share.

The shares are currently trading at $0.90.

For more information, please visit the company’s website www.WesternAlaskaMinerals.com.

Investor Relations is handled by Vanessa Bogaert, director of corporate communications, who can be reached at vanessa@WesternAlaskaMinerals.com.

I’m Katriina Cotten for Investmentpitch Media