Domestic Metals Initiates Geophysical Program at the Smart Creek Project and announces non-brokered Private Placement
Domestic Metals Leverages High-Grade Surface "Harbingers" to Fuel $3.5 Million Financing for Smart Creek Drilling
The news release dated February 4, 2026, announces a two-pronged strategic move: the initiation of a 27 line-kilometer Induced Polarization (IP) geophysical survey at the Smart Creek Project in Montana and a non-brokered private placement aiming to raise $3.5 million CAD. The financing consists of units priced at $0.28, including a full two-year warrant exercisable at $0.40. The geophysics program is designed to refine targets for a significant 9,000-meter diamond drilling campaign scheduled for Q1/Q2 2026. This follow-up is prompted by exceptional surface sampling results reported in January 2026, which included 102 g/t Au and 23.1% Cu.
- Operational Shift: The company is moving from low-cost surface prospecting to high-cost geophysics and diamond drilling. The expansion of the exploration budget reflects a transition from "proof of concept" to "discovery testing."
- Financing Necessity: As of September 30, 2025, the company had a working capital deficit. The $3.5 million raise is essential not only for the 9,000m drill program but also to maintain the company as a going concern and potentially settle mounting liabilities.
- Pricing Strength: The financing at $0.28 is in line with the previous LIFE offering price in late 2025, suggesting management has maintained a valuation floor despite the need for significant capital.
- Confidence Indicator: The involvement of CEO Gord Neal (founding member of MAG Silver) and the appointment of Dr. Peter Megaw as a technical advisor suggest the high-grade surface results are being taken seriously by industry veterans.
Domestic Metals Corp. is a junior explorer focused on the Smart Creek Project in western Montana, USA. The project is a 4,187-hectare land package under option from Rio Tinto (Kennecott Exploration), where Domestic Metals can earn up to a 60% interest. The project is prospective for Porphyry Copper-Gold and Carbonate Replacement Deposits (CRD). High-grade historic intercepts (109m of 0.75% Cu) and recent surface samples suggest a large-scale mineralized system.