Stormlands Mining, an Ireland-based data analytics company, has released a new case study on the Illinois Creek gold project in Western Alaska, owned by Alaska Silver.
Without a formal preliminary economic assessment (PEA), Stormlands’ artificial intelligence (AI) created a base economic model using data extracted from Alaska Silver’s NI 43-101 technical report. From there, the AI generated results that increased the site’s valuation from US$226.2 million in the base model to US$448.6 million.
Using updated commodity pricing from March 2026, Stormlands increased life-of-mine revenue from US$1.15 billion to US$1.69 billion, with life-of-mine EBITDA increasing from US$805 million to US$1.32 billion. The project's internal rate of return (IRR) went from 36.8% to 61.4% while the modelled payback period went from 2 years and 7 months to 1 year and 7 months.
“The NI 43-101 provides a strong technical foundation, but it does not provide a project-level economic model,” said Róisín O’Connell, the chief executive officer at Stormlands. “In this case we are building scenarios around commodity price — we could easily use the model to test assumptions around CAPEX, OPEX, ramp-up, remediation and any other data inputs.”
The case study is part of Stormlands’ efforts to create a set of resources for mining companies to predict and assess economic conditions. Other studies have re-examined the Whistler, MPD and Frotet projects.
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