This subject came up some time ago and as an Alaskan concerned with the problem I did some research. Yes I think that it would be possible to use hard cast slugs. I found two different suppliers of cast slugs that were willing to cast slugs for me with an increased hardness.
Certain problems then develop. I would think that only a cyl., bore gun could be used and that one would have to be very careful that the size of the bore was slightly bigger than the slug. With the slug barrel being thinner, if the hardcast slug was oversized you might split the barrel. Maybe a smaller hardcast slug like a 16or 20 gauge with a sabot might work. Breneke has a new slug out that looked interesting on their web page but I can not find any here. Matter of fact I can't find much of anything where I am located in AK!
It would be an interesting experiment for someone like Guns and Ammo to do some ballistic research on the current slugs available simular to bullet tests in different mediums. Expansion, penetration, weight left.....
It would be fun to do some expermenting on this but I don't have the place to do it. So I am sticking with 2 rounds of 3" steel BB's followed by 3 Brenneke's. :-)