Western Alaska Minerals Corp.


Primary ticker: TSXV:WAM
Stage of development: Exploration
Primary minerals: Silver, Zinc, Lead, Gold, Copper
Project to promote: Waterpump Creek
Project location: USA
Website: westernalaskaminerals.com

Corporate presentation: Click here

Western Alaska Minerals is focused on advancing its 100% owned “Illinois Creek Mining District” (>73,000 acres) which contains deposits originally discovered by Anaconda Minerals in the 1980s and was consolidated by the WAM management team over the past 10 years. The portfolio of five, high-grade, evolving mineral deposits contain: gold, silver, copper, lead, and zinc including a silver-rich Carbonate Replacement Deposit (CRD) and a NI 43-101 oxide gold resource at the Illinois Creek deposit.

Our board, management, and technical teams have track records exploring and progressing Tier 1 assets in Alaska including Donlin Creek, Greens Creek, and Bornite.

The company’s first-pass drill program at the Waterpump Creek (“WPC”) CRD target in 2021 intersected 9.1m (true thickness) @ 526 g/t Ag, 22.5% Zn & 14.4% Pb (1,886 g/t AgEq). As of Aug 31, 2022, the exploration program is ongoing. Highlights to date include having encountered more bonanza-grade mineralization at Waterpump Creek and significantly expanding its footprint.


Debt: NIL

Major shareholders:

Crescat Capital -19%
Retail/HNW – 39%
Other institutions – 7%
Owners/Founders & Insiders – 35%

Management Profile

Kit Marrs – Co-Founder and President
Kit Marrs is the Co-Founder and President of Western Alaska Minerals, (formerly Western Alaska Copper & Gold). He has more than 25 years experience in mineral exploration and development, property evaluation, and project financing in Alaska and Mexico. Mr. Marrs has worked for major mining companies and consulting firms including Anaconda Minerals Company (Anaconda), Kennecott/Bear Creek Mining, Watts Griffis & McQuat, and Penoles, SA de CV. In 1981, he was the project geologist for the Illinois Creek/Round Top Project for Anaconda and directed the exploration program. He has extensive experience in financing, permitting, and implementing real estate development projects and joint venture developments with values of $10-30 million USD. His combined experience in both geologic exploration and development in Alaska, and real estate project financing, permitting and development gives Mr. Marrs a unique set of skills to lead this company. He holds Bachelor of Science and Master of Science degrees in Economic Geology from the University of Arizona, and served from 2005-2021 on the Advisory Board for the University of Arizona’s Department of Geosciences.

What is your rationale for taking part in 121 Mining Investment?

Equity investment from producers/majors, High Net Worth/family offices, newsletter writer coverage, institutions, we will have a raise in the new year as we plan to double our drilling meterage in 2023 to 25,000 meters

What recent news would you like to highlight to investors attending?

Sep 22: Western Alaska Minerals Reports Assays for Multi-Stage CRD Feeder Zone Cut in Hole WPC22-18 at Waterpump Creek: 102.7 METERS GRADING 159 G/T (5.1 OZ/T) SILVER, 5.4% ZINC and 5.3% LEAD // Sep 6: Western Alaska Minerals Announces Completion of the Second Tranche of a C$12 Million Non-Brokered Private Placement // Aug 2: Western Alaska Minerals Reports 337 G/T (10.8 Oz/T) Silver, 16.7% Zinc And 10.0% Lead Over 11.5 Meters In Wpc22-11 Drilled Prior To The 101 Meter Wpc22-18 Discovery Hole At Waterpump Creek // July 20: Western Alaska Minerals Intercepts 47 and 101.7 Meters of Massive (& Semi-Massive) Sulfide Replacement Mineralization in Drill Holes WPC22-17 and 18

What are your key goals in 3 months, 6 months, 12 months?

3 Months:
Assays from remainder of drillholes in 2022

6 Months:
Metallurgical studies, 2023 drill program start up, all-weather access road advancements, de-risking studies

18-24 months:

Inferred resource estimate @ Waterpump Creek

What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Inflation – we are making our camp more efficient (ie ordered 5000 gallon tanks for fuel: will save exponentially on fuel), world-market uncertainty – we can scale up or down, depending (flexibility in drill planning)

What do you think makes your company such a compelling investment?

We are unique in that we control an entire district that has seen a lot of previous exploration.
We are not a one property, one prospect, one metal company. We have five metals on five properties. The property contains a past producing gold mine, infrastructure and several green fields targets as well. Founders and Mgmt are decades-long Alaska explorers; we have a marquee management & executive team with several world-class exploration and development. CEO was the first project manager on the property in the 1980s when Anaconda Minerals owned it.

What are the top 3 key investor takeaways?

We have the CASH: $17M raised in 2022, no warrants;

The CLAIMS: 100% control of >73,000 acres in W.Alaska, no underlying royalties, not on indigenous land; clean asset;

The CREW: multiple decades of Alaska exploration and discovery success including Dr. Peter Megaw, Technical Advisor – a world-renowned silver and CRD expert.