Alaska Silver is preparing for a major 2026 exploration season at the Illinois Creek Project in western Alaska with two drill rigs mobilizing for a 6,000 meter program focused on expanding the Waterpump Creek resource and advancing the newly discovered Silver Sage target. CEO Kit Marrs joins Mining Stock Daily to discuss the company’s strategy for growing mineralization both north and south of Water Pump Creek, the geological significance of Silver Sage, and why the broader Illinois Creek district continues demonstrating large-scale carbonate replacement deposit potential. The conversation also covers ongoing metallurgical work, gallium recovery opportunities tied to critical minerals demand, and how Alaska Silver is positioning the project for long-term development through environmental studies, permitting work, and future infrastructure planning.

Alaska Silver Returns to Illinois Creek with a New Drill Program

Mining Stock Daily

# Full Transcript

**Podcast:** Mining Stock Daily

## Transcript

[SPEAKER_A] Happy Monday, everybody. Welcome back in to another corporate update here on Mining Stock Daily. As we kick off our week here, we're heading up to the Great State of Alaska with the long overdue update from Alaska Silver. They do trade on the TSX Venture with the symbol WAM and on the OTCQX with WAMFF. The company is back on the Illinois Creek Project, ready to commence a 6,000 meter exploration program there to expand Waterpump Creek and to do a lot of other things include That Silver Sage area target that they discovered last year. So happy to welcome in CEO Kit Marrs once again. Kit, it's been a long while. It's good to see you and an exciting exploration season amongst you and the team.

[SPEAKER_B] Yeah, it is. I was just out in the field with everybody. We opened up camp about a week or a little more ago. And so everything is getting ready. We, our two drills have been going through their spring maintenance and they're done with that and ready to go. And actually on Wednesday, our first set of drillers for the first rig, we are using again, Morecore Drilling out of Stewart, BC. They've been with us since 2016. So a lot of continuity and that allows us to have some of the same drillers back year and year again. And boy, that's, you don't have to they don't have to relearn what it is like drilling carbonate rocks for the first time. So it's very good. Second crew will come 2 or 3 days after that, and we'll have both of our large drill rigs going. One starting probably up at Waterpump Creek North. We're going to drill our first exploration holes to the north on trend, and then the second one will be starting down at Silver Sage. And the goal there is to figure out where the thick mineralization is. We have a big area to look at.

[SPEAKER_A] All right, let's start with Waterpump Creek and expanding that resource. This is something you did update that resource earlier in the year, just with the big move in metals prices. So you thought it important. We talked about that previously in the year, but maybe let's talk about this drill program and where you are going to see, or you think you're going to see, those expansion opportunities for more ounces.

[SPEAKER_B] Yeah, the main area for expansion will be the Water Pump Creek south target. We feel we have a much better handle now on the structure, whether it's a fault or a fold. We're still trying to figure that out, but it definitely is down-dropped. The drilling last year got very close to hitting the mineralization. We had some very good sniffs, some good silver and lead numbers. So we know we're close, but we wanted to start off with a few shallow holes to get them done quickly and learn some knowledge there. And that's when you look at the plan view of Waterpump Creek, the resource, it takes a hard bend to the northwest as you're looking north. And that is where the original oxide discovery that Anaconda made back...

Alaska Silver Returns to Illinois Creek with a New Drill Program

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Alaska Silver Returns to Illinois Creek with a New Drill Program

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.