Contained nickel for the Eureka Mineral Resource Estimate (“MRE”), effective February 12th, 2024, equals: Indicated Resources: 3.9 billion p
Contained nickel for the Eureka Mineral Resource Estimate (“MRE”), effective February 12th, 2024, equals:
- Indicated Resources: 3.9 billion pounds of nickel
- Inferred Resources: 4.2 billion pounds of nickel
VANCOUVER, BRITISH COLUMBIA, March 15, 2024 – Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to announce that it has filed an Updated National Instrument 43-101 Technical Report (the “Updated Technical Report” or the “Report”) on SEDAR+ for its 100% owned Eureka Property, Nikolai Nickel Project in Alaska, USA.
Highlights of the Updated Eureka Technical Report and MRE include:
- Deposit Consolidation: The Eureka West and Eureka East deposits, initially reported in the 2023 MRE, have been combined into a single deposit spanning 4.5 kilometers (2.8 miles).
- Resource Upgrade: A substantial portion of the Eureka MRE has transitioned from Inferred to Indicated Resource status. The Indicated Resource now contains:
- 813 million tonnes grading 0.29% NiEq, comprising:
- 3,877 million pounds (1.758 million tonnes) of nickel
- 1,276 million pounds (578,783 tonnes) of copper
- 303 million pounds (137,438 tonnes) of cobalt
- 4.0 million ounces of platinum, plus palladium and gold
- 813 million tonnes grading 0.29% NiEq, comprising:
- Inferred Resource Growth: The Inferred Resource experienced a 180% increase, rising from 319.6 million tonnes to 896 million tonnes. This resource contains:
- 896 million tonnes grading 0.27% NiEq, comprising:
- 4,225 million pounds (1.916 million tonnes) of nickel
- 1,040 million pounds (471,736 tonnes) of copper
- 327 million pounds (148,324 tonnes) of cobalt
- 3.4 million ounces of platinum, plus palladium and gold
- 896 million tonnes grading 0.27% NiEq, comprising:
- High-Grade Core: The presence of a higher-grade core within the deposit’s southeastern portion has been definitively established. This core remains open to the southeast, with the Company scheduling drill testing for 2024.
- Improved Strip Ratio: The consolidation of deposits has resulted in a lower strip ratio, decreasing from 3.7:1 to 1.5:1.
- Mineralization Zones: Three parallel zones of mineralization (EZ1, EZ2, and EZ3) have been identified.
- Potential Co-Products: Initial analysis suggests chrome and iron could be significant co-products of Eureka’s mineralization. AEMC is assessing the feasibility of producing a ferrochrome (FeCr) product through ongoing metallurgical studies.
The “Nikolai Mineral Resource Estimate Technical Report,” dated March 13th, 2024, substantiates disclosures made in the Company’s February 12, 2024 press release, “Alaska Energy Metals Significantly Increases NI 43-101 Mineral Resource Estimate For The Eureka Deposit, Nikolai Nickel Project, Alaska, USA.”
Stantec Consulting Services, Inc. prepared the Independent MRE and Updated Technical Report in compliance with National Instrument 43-101 regulations. The Report is accessible under the Company’s profile on SEDAR+ (https://www.sedarplus.ca) and on the Alaska Energy Metals website (https://www.alaskaenergymetals.com).
Alaska Energy Metals President & CEO Gregory Beischer commented:
“It was fortunate that the spacing of the eight holes we drilled in 2023 allowed us to include 35 other holes that were drilled historically. This, in turn, allowed our consultant, Stantec, to produce a larger-than expected Mineral Resource Estimate update. We now have a very substantial nickel deposit with a higher-grade core that could be mined early with a 0:1 strip ratio. This feature will be important for project economics. The deposit is open in all directions and the higher-grade zone, which projects to the southeast, will be drill tested during our planned 2024 drill program. So far, our discovery-exploration cost amounts to about one-tenth of a cent per pound of nickel discovered. This is a very good result for the funds entrusted to us by our shareholders.”
QUALIFIED PERSON Mr. Derek Loveday, P. Geo. of Stantec Consulting Services Inc., is the independent Qualified Person (National Instrument 43-101 Standards of Disclosure for Mineral Projects). Mr. Loveday has prepared, supervised the preparation of, or reviewed and approved the scientific and technical data pertaining to the MRE and technical report. He confirms that he has read this press release and that the scientific and technical information relating to the resource estimate is accurate. Gabriel Graf, the Company’s Chief Geoscientist, is the qualified person (as defined under NI 43-101) having reviewed and approved all other scientific and technical information contained in this news release. For additional information, visit: https://alaskaenergymetals.com/
ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future, while generating superior returns for shareholders.
AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic source of strategic energy-related metals for North America. AEMC also holds a secondary project, ‘Angliers-Belleterre,’ in western Quebec. Today, material sourcing demands excellence in environmental performance, carbon mitigation and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that ESG performance is measured by action and led from the top.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164
Sarah Mawji, Public Relations
sarah@venturestrategies.com
Venture Strategies
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