Alex Metals(TSXV:na)

About

Alex Metals is a precious metals exploration company focused on discovering high-grade silver and gold-rich volcanogenic massive sulfide (VMS) deposits in Southeast Alaska's Alexander Terrane. The company has 100% ownership of three drill-ready projects: Wodski, Frenchie, and KSO, which are strategically selected for their geological potential and historical significance. With a commitment to modern exploration techniques and responsible development, Alex Metals aims to unlock significant mineral discoveries in a region known for its rich mining history.

Verified company data

Cash position

10400000

Shares outstanding

20800000

Fully diluted shares

39,950,000

Mineral resource

Frenchie is a high-grade, gold-rich massive sulfide prospect and a true walk-up drill target. Massive sulfide horizons 3–5 m thick are exposed for roughly 180 m along a creek cut and return multi-gram-per-tonne gold with elevated silver, zinc, and lead. These outcrops sit along the edge of an untested, 4 km long shallow geophysical conductor interpreted as a potential continuation of the massive sulfide body at depth and along strike. Alex Metals plans to compile and re-interpret historical data, model existing geophysics and prioritize drill holes designed to test the strongest parts of the conductive anomaly down-dip and on-trend of surface mineralization. The KSO Project encompasses the historic Khayyam and Stumble-On deposits, representing one of Southeast Alaska’s earliest known copper-gold VMS mining districts. Discovered in 1899, 385 m of workings were developed at the Khayyam Mine between 1901 and 1907 by the Khayyam Copper Company, producing copper, gold, and silver from multiple massive sulfide lenses. It closed in 1907 due to poor copper prices and operational challenges. The nearby Stumble-On Prospect, located 1.3 km east along strike, was discovered in 1901 and includes two underground workings totaling 155 m of development. No historical production figures exist for Stumble-On, but surface and underground sampling confirm high-grade Cu-Au-Ag-Zn mineralization consistent with Khayyam. Ore from both deposits was transported to tidewater at MacKenzie Inlet using a combination of surface and aerial tramways; early evidence of the district’s logistical viability. Subsequent evaluations include wartime investigations by the U.S. Bureau of Mines (1944–45), examination by Anaconda Copper (1946), and multiple assessments by companies such as Banner Mining, Cominco, Homestake, Duval, and Noranda from the 1970s through the 1990s. Banner drilled 14 holes in at Khayyam and 11 at Stumble-On in 1971, although results are unknown and no drill data are available. These remain the only known drillholes on the property. Select historical chip samples include: 6.9 g/t Au, 30.9 g/t Ag, and 3.0% Cu over 3.4 m at Khayyam and 2.7 g/t Au, 10.3 g/t Ag, and 12.7% Cu over 2.3 m at Stumble-On. Recent chip sampling by Alex Metals includes 3.7 g/t Au, 54.9 g/t Ag, 8.1% Cu, and 6.5% Zn over 2.2 m, confirming historical grades and robust Cu-Au-Ag-Zn endowment. Despite a century of interest, and multiple airborne and ground geophysical surveys highlighting strong conductive responses, the KSO Project has never been systematically explored using modern geoscience or modern drilling. Alex Metals will be the first company in over 55 years to drill test the system with targeted, data-driven exploration programs. A 2025 airborne SkyTEM electromagnetic (EM) and magnetic survey conducted Alex Metals clearly defines strong conductors over Khayyam and Stumble-On, indicating that massive sulphide may extend vertically and laterally to depth. The survey also identified a large, similarly conductive, previously unknown ‘Western’ EM anomaly underlying siliceous schists, which are known to be stratigraphically equivalent to mineralization at Khayyam. This survey provides new drill-ready targets, confirms known mineralization, and is a highly effective tool for VMS exploration in the Wales Group rocks. The Wodski Project is the flagship silver-rich VMS asset in the Alex Metals portfolio and a compelling analogue to Hecla’s Greens Creek mine. Ten known VMS occurrences are distributed across the 6 km x 10 km island, highlighting the scale and continuity of the mineralized system. Historical work includes a “geologic inventory” at the Lost Lake prospect of 553,800 tons grading 87.5 g/t Ag, 8.1% Zn and 0.6% Pb, as well as multiple high-grade intersections at Mad Dog prospect. A 2004 drill program discovered near-surface, high-grade Ag-Zn-Pb mineralization at the Mad Dog prospect, with the first hole intersecting: 5.4 m grading 437 g/t Ag 18.5% Zn, and 3.8% Pb, and 17.7 m grading 223 g/t Ag and 11.3% Zn and 1.0% Pb. Despite these exceptional intercepts, the property has seen no follow-up drilling in more than 20 years and remains grossly underexplored. No gold grades were reported historically, though Alex Metal’s grab samples returned: 20.6% Zn, 1.7% Pb, 257 g/t Ag, 1.7 g/t Au; 16.3% Zn, 1.7% Pb, 381 g/t Ag, 3.8 g/t Au; 3.2% Zn, 3.0% Pb, 211 g/t Ag, 3.5 g/t Au. Alex Metals’ thesis is to define a +30 Mt, Greens Creek-style Ag-Au-Zn-Pb deposit by systematically expanding known mineralization and testing new targets generated from modern geophysics, geochemistry, and structural mapping.

Projects

["Frenchie Gold‑Rich VMS Project: Walk‑Up Drill Target Along a 4 km Conductive Trend\n\nOverview\n\nFrenchie is a high-grade, gold-rich massive sulfide prospect and a true walk-up drill target. Massive sulfide horizons 3–5 m thick are exposed for roughly 180 m along a creek cut and return multi-gram-per-tonne gold with elevated silver, zinc, and lead. These outcrops sit along the edge of an untested, 4 km long shallow geophysical conductor interpreted as a potential continuation of the massive sulfide body at depth and along strike.\n\nAlex Metals plans to compile and re-interpret historical data, model existing geophysics and prioritize drill holes designed to test the strongest parts of the conductive anomaly down-dip and on-trend of surface mineralization.\n\nLocation\n\nSoutheast Alaska\n\nOwnership\n\nOption to acquire 100% interest\n\nProject Stage\n\nAdvanced Exploration — untested, high-priority drill target\n\nMetals\n\nGold, zinc, and lead\n\nProperty Size\n\n4.5 km2\n\nTarget\n\nGold-rich, Greens Creek-style VMS deposits\n\nGeology\n\nSimilar to the Wodski Project, Frenchie exhibits Greens Creek-style VMS characteristics, with laterally continuous massive sulfide bands containing gold, zinc, and lead hosted in favorable volcanic and sedimentary stratigraphy of the Late Triassic ATMB. The combination of continuous massive sulfide exposed in the creek, strong geophysical responses and the broader Alexander Terrane setting suggests potential for a sizeable, gold-rich VMS system similar to other high-grade deposits in the belt.","KSO Copper‑Gold VMS Project: Past‑Producing High‑Grade Mine with Untested Depth Potential\n\nOverview\n\nThe KSO Project encompasses the historic Khayyam and Stumble-On deposits, representing one of Southeast Alaska’s earliest known copper-gold VMS mining districts. Discovered in 1899, 385 m of workings were developed at the Khayyam Mine between 1901 and 1907 by the Khayyam Copper Company, producing copper, gold, and silver from multiple massive sulfide lenses. It closed in 1907 due to poor copper prices and operational challenges.\n\nThe nearby Stumble-On Prospect, located 1.3 km east along strike, was discovered in 1901 and includes two underground workings totaling 155 m of development. No historical production figures exist for Stumble-On, but surface and underground sampling confirm high-grade Cu-Au-Ag-Zn mineralization consistent with Khayyam.\n\nOre from both deposits was transported to tidewater at MacKenzie Inlet using a combination of surface and aerial tramways; early evidence of the district’s logistical viability.\n\nSubsequent evaluations include wartime investigations by the U.S. Bureau of Mines (1944–45), examination by Anaconda Copper (1946), and multiple assessments by companies such as Banner Mining, Cominco, Homestake, Duval, and Noranda from the 1970s through the 1990s. Banner drilled 14 holes in at Khayyam and 11 at Stumble-On in 1971, although results are unknown and no drill data are available. These remain the only known drillholes on the property.\n\nSelect historical chip samples include:\n\n- 6.9 g/t Au, 30.9 g/t Ag, and 3.0% Cu over 3.4 m at Khayyam and\n- 2.7 g/t Au, 10.3 g/t Ag, and 12.7% Cu over 2.3 m at Stumble-On.\n\nRecent chip sampling by Alex Metals includes 3.7 g/t Au, 54.9 g/t Ag, 8.1% Cu, and 6.5% Zn over 2.2 m, confirming historical grades and robust Cu-Au-Ag-Zn endowment.\n\nDespite a century of interest, and multiple airborne and ground geophysical surveys highlighting strong conductive responses, the KSO Project has never been systematically explored using modern geoscience or modern drilling. Alex Metals will be the first company in over 55 years to drill test the system with targeted, data-driven exploration programs.\n\nA 2025 airborne SkyTEM electromagnetic (EM) and magnetic survey conducted Alex Metals clearly defines strong conductors over Khayyam and Stumble-On, indicating that massive sulphide may extend vertically and laterally to depth. The survey also identified a large, similarly conductive, previously unknown ‘Western’ EM anomaly underlying siliceous schists, which are known to be stratigraphically equivalent to mineralization at Khayyam. This survey provides new drill-ready targets, confirms known mineralization, and is a highly effective tool for VMS exploration in the Wales Group rocks.\n\nLocation\n\nSoutheast Alaska\n\nOwnership\n\n100%\n\nProject Stage\n\nAdvanced Exploration — past-producing mine\n\nMetals\n\nGold, copper, silver, and zinc\n\nProperty Size\n\n5.7 km2\n\nTarget\n\nHigh-grade Cu-Au VMS deposits hosted in deformed and metamorphosed Wales Group rocks.\n\nGeology\n\nThe Khayyam and Stumble-On deposits are hosted within strongly deformed, amphibolite-facies volcanic and sedimentary rocks of the Ediacaran–Cambrian Wales Group. These arc-related rocks form the basement of the Alexander Terrane and record a complex history of deformation and metamorphism, including isoclinal folding, which is known to structurally concentrate massive sulfides, and amphibolite facies metamorphism, which is known to coarsen and simplify mineralogy.\n\nMetamorphism has recrystallized sulfides and obliterated most primary VMS textures; however, local preservation of amygdules, lapilli, and pillow-like features in host schists supports an origin as tholeiitic subaqueous basalt to basaltic andesite flows, consistent with classic VMS volcanic settings.\n\nMassive sulfide mineralization occurs as stratabound lenses of pyrite and chalcopyrite with subordinate bornite, pyrrhotite, sphalerite, and magnetite. These lenses range up to 8 m thick across a 70 m stratigraphic interval at Khayyam.","Wodski Silver‑Gold‑Rich VMS Project: Greens Creek‑Style Discovery Opportunity in Southeast Alaska\n\nOverview\n\nThe Wodski Project is the flagship silver-rich VMS asset in the Alex Metals portfolio and a compelling analogue to Hecla’s Greens Creek mine. Ten known VMS occurrences are distributed across the 6 km x 10 km island, highlighting the scale and continuity of the mineralized system.\n\nHistorical work includes a “geologic inventory” at the Lost Lake prospect of 553,800 tons grading 87.5 g/t Ag, 8.1% Zn and 0.6% Pb, as well as multiple high-grade intersections at Mad Dog prospect. A 2004 drill program discovered near-surface, high-grade Ag-Zn-Pb mineralization at the Mad Dog prospect, with the first hole intersecting:\n\n• 5.4 m grading 437 g/t Ag 18.5% Zn, and 3.8% Pb,\n\n• and 17.7 m grading 223 g/t Ag and 11.3% Zn and 1.0% Pb.\n\nDespite these exceptional intercepts, the property has seen no follow-up drilling in more than 20 years and remains grossly underexplored. No gold grades were reported historically, though Alex Metal’s grab samples returned:\n\n• 20.6% Zn, 1.7% Pb, 257 g/t Ag, 1.7 g/t Au\n\n• 16.3% Zn, 1.7% Pb, 381 g/t Ag, 3.8 g/t Au\n\n• 3.2% Zn, 3.0% Pb, 211 g/t Ag, 3.5 g/t Au\n\nAlex Metals’ thesis is to define a +30 Mt, Greens Creek-style Ag-Au-Zn-Pb deposit by systematically expanding known mineralization and testing new targets generated from modern geophysics, geochemistry, and structural mapping.\n\nLocation\n\nSoutheast Alaska\n\nOwnership\n\n100%\n\nProject Stage\n\nAdvanced Exploration — historic drilling and multiple defined targets\n\nMetals\n\nSilver, Gold, Zinc, and Lead\n\nProperty Size\n\n13.5 km2 land package\n\nTarget\n\nGreens Creek-style, silver-gold-rich volcanogenic massive sulfide (VMS) system\n\nGeology\n\nThe Wodski Project is hosted by Late Triassic rocks of the Alexander Triassic Metallogenic Belt (ATMB), a 600 km-long volcano sedimentary, oceanic back-arc or intra-arc rift-related belt.  This belt hosts numerous VMS prospects and several world-class deposits, including the ~300 Mt Cu-Co Windy Craggy deposit, the ~40 Mt Ag-Au-Zn-Pb Greens Creek deposit, and the ~17 Mt (combined) Cu-Zn Palmer and Zn-Ag AG deposits.\n\nWodski hosts widespread Ag-Au-Zn-Pb VMS mineralization along a prospective, fold-repeated VMS horizon traced for over 12 km across the property.  Late Triassic rocks on the Wodski Project are dominantly mafic to intermediate pillowed to massive flows, pillow breccias, and volcaniclastic deposits interbedded with subordinate lenses of mafic to felsic tuff, limestone, chert, conglomerate, and argillite.  These rocks are intruded by diorite, gabbro, and basaltic to dacitic dykes.\n\nAt several prospects, mineralization is hosted by altered tuffs and is spatially related to dacite or rhyolite units and minor argillite lenses, similar to the Palmer and AG deposits.  At other prospects, mineralization occurs at or near the contact between mafic volcanic rocks and a thick sequence of graphitic argillite, similar to the Greens Creek deposit.\n\nStructural features related to three phases of deformation are observed on the Project: F1 isoclinal folds, pervasive S2 foliation and associated F2 closed folds, and local kinking and open F3 folds associated with faults.  Host rocks are prehnite-pumpellyite to lower greenschist-facies metamorphic grade, and primary textures are typically preserved."]

Leadership

Gwen Preston (President, CEO, and Director, Gwen has been a metals and mining analyst, investment leader, company executive, board member, and journalist for almost 20 years. She holds a B.Sc. in Chemistry from McGill University and a Master of Journalism from the University of British Columbia.), David Cole (Independent Director, David has over two decades of leadership experience as the long-time CEO and co-founder of EMX Royalty Corp. He holds geology degrees from Fort Lewis College and Colorado State University.), Lance Miller (Technical Advisor, Lance is Vice President of Natural Resources for NANA Regional Corporation with over 30 years in the minerals industry and a Ph.D. in economic and structural geology from the University of Arizona.), Curtis Freeman (Technical Advisor, Curt is a highly respected geologist with more than 40 years of experience leading mineral exploration programs across Alaska and the Americas.)

Verified data last updated: 2026-05-15