Domestic Metals to Commence Drill Program at Smart Creek Project, Montana
Domestic begins drilling at its Montana porphyry project following months of delays.
Domestic Metals Corp. announced the commencement of a fully permitted and funded 9,000-meter diamond drill program at its Smart Creek Project in Montana. Drilling is scheduled to begin in late August 2026, targeting high-grade porphyry copper and carbonate replacement deposit (CRD) mineralization.
The program consists of 6-8 holes, with Phase 1 focusing on the eastern Smart Creek target for porphyry copper and Phase 2 targeting the Sunrise Mine area for porphyry and skarn mineralization. First assay results are expected 6-8 weeks after drilling begins.
The release also notes the administrative grant of 2,150,000 stock options to directors, officers, and consultants at an exercise price of $0.19, expiring August 2031.
Domestic Metals Corp. has confirmed that its drill program, initially announced in early 2026 with plans targeting the first and second quarters, is now fully permitted and funded. The schedule has shifted to late August 2026, a delay the company attributes to permitting and logistical pacing. Capital for the operation was secured through a $3.38 million private placement closed in April 2026, along with earlier tranches, ensuring no immediate dilution risk from this specific announcement.
The update represents the expected execution of a previously communicated exploration plan. It does not introduce new capital, a major discovery, or a change in project economics. Given the stock’s approximately 55% decline from its April 2026 high to the current $0.17 level, the market has already priced in the delay and near-term exploration risk. The announcement serves to confirm that management is following through on its stated roadmap.
Domestic Metals Corp. is an exploration-stage company focused on the Smart Creek Copper Project in Montana, located in the historic Butte mining district. The project targets porphyry copper, carbonate replacement deposits (CRD), skarn, and epithermal gold-silver mineralization. The company holds an option to earn up to a 60% interest in the property through a $7 million minimum expenditure program over four years (2025-2029), with Rio Tinto retaining a 40% stake.
Recent 2025-2026 surface sampling returned high-grade intercepts, including up to 102 g/t Au, 23.1% Cu, and 3,810 g/t Ag. Historical drilling by Rio Tinto at the Smart Creek target returned 109.73m @ 0.75% Cu, including 89m @ 0.97% Cu. The project is 298 hectares of patented land with 36 sites permitted by the US Forest Service until 2031.