Discovery Alaska Ltd. has secured a lease on the 2-million-ounce Vinasale gold project in Alaska, located 16 miles south of McGrath. As the owner of the 6,500-acre Vinasale project, Doyon remains committed to responsible resource management in alignment with the Alaska Native Claims Settlement Act.
Vinasale, previously explored by Freegold Ventures, has remained inactive for nearly a decade. With the rise in gold prices, Discovery Alaska recognizes the potential in reviving this project under Doyon’s ownership. The collaboration involves a comprehensive lease agreement with considerations for cash, annual payments, and exploration expenditures, with Doyon retaining a royalty on future metals production.
Discovery Alaska’s exploration efforts are focused on reconfirming the gold deposit and exploring the project’s upside potential in the historic placer gold mining district at the northeastern end of the Kuskokwim Mountains. This venture not only signifies economic development but also reflects Discovery Alaska and Doyon’s commitment to supporting the Alaska Native community.
As part of the agreement, Discovery Alaska is making substantial contributions to educational programs, such as GeoFORCE, a scholarship program, for Doyon’s Alaska Native shareholders. This collaborative effort aims to access the untapped value of the 2-million-ounce gold deposit, foster community growth, and establish a foundation for future collaborations between Discovery Alaska and the Doyon community.