Discovery Alaska (ASX: DAF) goes hot on Alaskan gold

Discovery Alaska (ASX: DAF) goes hot on Alaskan gold

January 5, 2024 Off By Rueben Hale

Discovery Alaska will explore 6500ha of rugged Alaskan terrain for gold following a binding mining lease agreement with Doyon, Limited for the Vinasale Gold Project in the icy US state.

Discovery Alaska now has access to a large landholding 310km northwest of Anchorage and 26km south of McGrath for mineral exploration, development and production.

The Vinasale Gold Project has a 22Mt inferred resource of 1.08Moz gold and 2.29Mt indicated resource of 135koz gold, with a 1g/t cut-off grade.

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Discovery Alaska’s Director, Jerko Zuvela, sees a rare opportunity to define an exploration and development program for a highly promising yet inactive project.

“The Company is delighted to execute the Mining Lease Agreement with Doyon, following a sustained and determined effort to secure the substantial Vinasale Gold Project to our portfolio,” Mr Zuvela said.

“We are excited to progress the project development in a world-class jurisdiction, unlock unrealised value and establish a platform for a significant period of growth for the Company.

“This is a significant opportunity to rapidly develop an advanced gold project at an exciting time for the gold sector with record gold prices and within a proven high-quality gold district.

About the Vinasale gold project

In March 2013, Freegold Ventures Limited reported a Mineral Resource estimate for the Vinasale Gold Project. Indicated resources are 162,000 ounces and Inferred resources are 1,799,000 ounces of gold. Using a 1g/t cut-off grade, indicated resources are 135,000 ounces and Inferred resources are 1,081,00 ounces of gold..

About Discovery Alaska

Discovery Alaska Limited is an Australian public company that is focused on mineral exploration activities in the USA, which resulted in the granting of 308 mining claims in Alaska in February 2021.

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