Alaska Silver Files Updated NI 43-101 Technical Report for Illinois Creek Deposit
Original announcement by tmx on
- Company
- Alaska Silver Corp.
- Ticker
- WAM
- Exchange
- TSX
- Region
- Western Alaska
- Primary commodity
- Gold
- Secondary commodities
- Silver, Zinc, Lead
- Document categories
- Resource update
- Extracted
- 2026-09-15 07:07:01 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Alaska Silver has filed an updated NI 43-101 technical report for the Illinois Creek project, featuring an updated mineral resource estimate. The update shows an 11% increase in Indicated gold ounces and a near doubling of Inferred gold and silver ounces compared to previous estimates.
Reasoning: Significant growth in Inferred resource ounces and moderate growth in Indicated ounces represents substantial project expansion and de-risking.
Positive factors
- Indicated gold and silver ounces increased by 11% and 7%
- Inferred gold and silver ounces nearly doubled
- Mineralization remains open along strike and at depth
Negative factors
- Mineral resources are not mineral reserves
Facts used in scoring: 7
Classification and evidence
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: Indicated gold and silver ounces increased by 11% and 7% respectively.
Evidence · text
“Indicated gold and silver ounces increased by 11% and 7%, respectively, compared to previous estimates.”
Tonnage Growthpositive
Tonnage increase reaching the strong tier vs prior estimate, with grade maintained or improved.
Why it applies: Inferred gold and silver ounces nearly doubled.
Evidence · text
“Inferred gold and silver ounces nearly doubled.”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Dr. Bruce Davis, PhD, FAusIMM, is named as the independent Qualified Person.
Evidence · text
“prepared by Dr. Bruce Davis, PhD, FAusIMM, of BD Resource Consulting, Inc, an independent Qualified Person ("QP")”
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The report is explicitly stated as an updated NI 43-101 technical report.
Evidence · text
“filed on SEDAR+ an independent National Instrument 43-101... technical report”
Extracted facts
Stored fact records: 7. Some facts used in scoring do not have a stored record.
Resource Estimates (7)
indicatedIllinois Creek · goldTonnes: 9000000Grade: 0.92Grade Unit: g/tContained Metal: 260000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Illinois Creek
- Commodity
- gold
- Region
- usa_ak
- Reported Region
- Western Alaska
- Ticker
- WAM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Dr. Bruce Davis
- Resource group id
- resource:1c626e31091a96723b78
- Deposit or zone
- Illinois Creek
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 9000000
- Grade
- 0.92
- Grade Unit
- g/t
- Contained Metal
- 260000
- Contained Unit
- oz
- Cutoff Grade
- 24
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-01-22
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-02-27T00:00:00.000Z
Reasoning: Indicated gold ounces increased by 11% vs prior estimate.
Evidence · text
“Indicated gold and silver ounces increased by 11% and 7%, respectively, compared to previous estimates.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
indicatedIllinois Creek · silverTonnes: 9000000Grade: 29.72Grade Unit: g/tContained Metal: 8.3Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Illinois Creek
- Commodity
- silver
- Region
- usa_ak
- Reported Region
- Western Alaska
- Ticker
- WAM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Dr. Bruce Davis
- Resource group id
- resource:1c626e31091a96723b78
- Deposit or zone
- Illinois Creek
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- indicated
- Tonnes
- 9000000
- Grade
- 29.72
- Grade Unit
- g/t
- Contained Metal
- 8.3
- Contained Unit
- moz
- Cutoff Grade
- 24
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-01-22
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-02-27T00:00:00.000Z
Reasoning: Indicated silver ounces increased by 7% vs prior estimate.
Evidence · text
“Indicated gold and silver ounces increased by 11% and 7%, respectively, compared to previous estimates.”
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredIllinois Creek · goldTonnes: 10900000Grade: 0.84Grade Unit: g/tContained Metal: 290000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Illinois Creek
- Commodity
- gold
- Region
- usa_ak
- Reported Region
- Western Alaska
- Ticker
- WAM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Dr. Bruce Davis
- Resource group id
- resource:3e10d0a1bb257d301797
- Deposit or zone
- Illinois Creek
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 10900000
- Grade
- 0.84
- Grade Unit
- g/t
- Contained Metal
- 290000
- Contained Unit
- oz
- Cutoff Grade
- 24
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-01-22
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-02-27T00:00:00.000Z
Reasoning: Inferred gold ounces nearly doubled compared to previous estimates.
Evidence · text
“Inferred gold and silver ounces nearly doubled.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredIllinois Creek · silverTonnes: 10900000Grade: 30.11Grade Unit: g/tContained Metal: 10.4Contained Unit: mozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Illinois Creek
- Commodity
- silver
- Region
- usa_ak
- Reported Region
- Western Alaska
- Ticker
- WAM
Resource scope
- Estimate type
- resource
- QP Signed
- Yes
- Qualified person names
- Dr. Bruce Davis
- Resource group id
- resource:3e10d0a1bb257d301797
- Deposit or zone
- Illinois Creek
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
- Resource basis
- gross
Resource Data
- Category
- inferred
- Tonnes
- 10900000
- Grade
- 30.11
- Grade Unit
- g/t
- Contained Metal
- 10.4
- Contained Unit
- moz
- Cutoff Grade
- 24
- Cutoff Unit
- US$/t NSR
Prior Estimate
- Resource Date
- 2026-01-22
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-02-27T00:00:00.000Z
Reasoning: Inferred silver ounces nearly doubled compared to previous estimates.
Evidence · text
“Inferred gold and silver ounces nearly doubled.”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredIllinois Creek · silverTonnes: 0Grade: 279Grade Unit: g/tContained Metal: 75Contained Unit: mozView all detailsHide details
Identity
- Project
- Illinois Creek
- Commodity
- silver
- Region
- usa_ak
- Reported Region
- Western Alaska
- Ticker
- WAM
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:ac890db143d262d785a9
- Deposit or zone
- Waterpump Creek zone
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 0
- Grade
- 279
- Grade Unit
- g/t
- Contained Metal
- 75
- Contained Unit
- moz
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-27T00:00:00.000Z
Reasoning: High grade silver equivalent intercept at Waterpump Creek.
Evidence · text
“Waterpump Creek zone, which hosts an Inferred Mineral Resource of 75 Moz AgEq at a grade of 279 g/t silver, 11.28 % zinc and 9.87% lead”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredIllinois Creek · zincTonnes: 0Grade: 11.28Grade Unit: %View all detailsHide details
Identity
- Project
- Illinois Creek
- Commodity
- zinc
- Region
- usa_ak
- Reported Region
- Western Alaska
- Ticker
- WAM
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:ac890db143d262d785a9
- Deposit or zone
- Waterpump Creek zone
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 0
- Grade
- 11.28
- Grade Unit
- %
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-27T00:00:00.000Z
Reasoning: Zinc byproduct in Waterpump Creek Inferred resource.
Evidence · text
“11.28 % zinc”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
inferredIllinois Creek · leadTonnes: 0Grade: 9.87Grade Unit: %View all detailsHide details
Identity
- Project
- Illinois Creek
- Commodity
- lead
- Region
- usa_ak
- Reported Region
- Western Alaska
- Ticker
- WAM
Resource scope
- Estimate type
- resource
- Reporting standards
- ni_43_101
- Resource group id
- resource:ac890db143d262d785a9
- Deposit or zone
- Waterpump Creek zone
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 0
- Grade
- 9.87
- Grade Unit
- %
Metal Equivalent
- Assumptions Disclosed
- Yes
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-02-27T00:00:00.000Z
Reasoning: Lead byproduct in Waterpump Creek Inferred resource.
Evidence · text
“9.87% lead”
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: reporting_standards includes ni_43_101
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.