Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF)
(“AEMC” or the “Company”) today announced assay results from drill
holes EZ-23-007 & EZ-23-008, which marks the receipt of all
assay results from the Company’s 2023 exploration program at its
100% owned Nikolai Nickel Project in Interior Alaska (Figure 1),
during which eight diamond drill holes were drilled.
Figure 1. Nikolai Project -
Property Location Map
SUMMARY
- These new results further demonstrate the Eureka Zone remains
consistent and homogeneous, as indicated by historical drilling on
the property.
- EZ-23-007 was drilled ~250m northwest of EZ-23-005 to test
mineralization continuity along strike to the northwest (Figure
2).
- EZ-23-008 was drilled ~300m northwest of EZ-23-006 to test
mineralization continuity along strike to the northwest (Figure
2).
- The results from all eight holes have confirmed mineralization
continuity along a 1.2-kilometer strike length on the Eureka Zone,
with the mineralization remaining open in all directions.
AEMC has received assay results for all eight drill holes
completed during the 2023 exploration campaign. Assay results for
EZ-23-001 & EZ-23-002 and drill hole locations for the 2023
exploration campaign can be found in AEMC’s press release dated
October 16, 2023. Assay results for EZ-23-003 & EZ-23-005 can
be found in AEMC’s press release dated October 30, 2023 and assay
results for EZ-23-004 & EZ-23-006 can be found in AEMC’s press
release dated December 5, 2023.
Figure 2. Drill hole location
map showing estimated true thicknesses, calculated NiEq grades,
surface geology and surface trace of Eureka Zone 2 mineralization.
PNI and FL drill assay results were reported by Pure Nickel Inc. in
a press release dated October 29th, 2013. The Company’s Qualified
Person has independently verified the assay data reported by Pure
Nickel Inc. and has determined the quality assurance and quality
control data to be acceptable.
HOLE EZ-23-007 SUMMARY
- EZ-23-007 drilled into 21.0m of overburden and then into a
poorly mineralized gabbro from 21.0m to 119.4m. The gabbroic unit
transitioned into a weakly mineralized pyroxenite-rich unit from
119.4m to 170.7m. The main mineralized Eureka zone was intersected
from 170.7m to 481.1m downhole, with assays grading 310.4m
(295.7m estimated true thickness) @ 0.32% NiEq (0.21% Ni, 0.08% Cu,
0.02% Co, 0.30% Cr, 9.97% Fe, 0.106 g/t Pd, 0.052 g/t Pt and 0.013
g/t Au) (Table 1 and Figure 3).
- The main mineralized Eureka zone intersection contains a
central, higher-grade zone, included in the intersection above,
with assays grading 93.6m @ 0.36% NiEq (0.22% Ni, 0.13% Cu,
0.02% Co, 0.30% Cr, 10.73% Fe, 0.157 g/t Pd, 0.075 g/t Pt and 0.014
g/t Au).
- The main mineralized zone was hosted within a pervasively
serpentinized peridotite, with varying amounts of disseminated
sulfides, with up to 10% disseminated sulfides within the Core
Eureka Zone 2. Grades and sulfide abundance within the main
mineralized zone decrease near the contact with a pyroxenite
intrusive rock phase from 481.1m to 488.0m.
- Disseminated sulfides increase within a serpentinized
pyroxenite/peridotite intrusion from 488.0m to 552.8m (EOH). This
lower pyroxenite/peridotite unit assayed 64.8m @ 0.22% NiEq
(0.15% Ni, 0.03% Cu, 0.02% Co, 0.44% Cr, 10.44% Fe, 0.021 g/t Pd,
0.035 g/t Pt and 0.010 g/t Au) and is still open at
depth.
- The mineralization is currently open in all directions.
Table 1. Significant
Intersections from EZ-23-007 & EZ-23-008
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Nikolai Significant Intersections - Eureka
Zone |
Drill hole # |
End of Hole Depth (m) |
Downhole From (m) |
Downhole To (m) |
Downhole Intersection (m) |
Estimated True Thickness1
(m) |
Mineralized Zone |
Ni (%) |
Cu (%) |
Co (%) |
Pd (g/t) |
Pt (g/t) |
Au (g/t) |
Cr (%) |
Fe (%) |
NiEq%2,3 |
EZ-23-007 |
552.8 |
170.7 |
481.1 |
310.4 |
295.7 |
Eureka Zone 2 (EZ2) |
0.21 |
0.08 |
0.02 |
0.106 |
0.052 |
0.013 |
0.30 |
9.97 |
0.32 |
|
Including |
170.7 |
254.2 |
83.5 |
79.5 |
Upper EZ2 |
0.22 |
0.08 |
0.02 |
0.134 |
0.068 |
0.018 |
0.35 |
9.34 |
0.34 |
|
Including |
254.2 |
347.8 |
93.6 |
89.2 |
Core EZ2 |
0.22 |
0.13 |
0.02 |
0.157 |
0.075 |
0.014 |
0.30 |
10.73 |
0.36 |
|
Including |
347.8 |
481.1 |
133.3 |
127.0 |
Lower EZ2 |
0.20 |
0.04 |
0.02 |
0.053 |
0.026 |
0.009 |
0.28 |
9.84 |
0.28 |
|
and |
488 |
552.8 |
64.8 |
61.7 |
Eureka Zone 3 (EZ3) |
0.15 |
0.03 |
0.02 |
0.021 |
0.035 |
0.010 |
0.44 |
10.44 |
0.22 |
EZ-23-008 |
446.1 |
65.8 |
384.4 |
318.6 |
304.4 |
Eureka Zone 2 (EZ2) |
0.21 |
0.07 |
0.02 |
0.090 |
0.042 |
0.012 |
0.31 |
10.03 |
0.31 |
|
Including |
65.8 |
169.5 |
103.7 |
99.1 |
Upper EZ2 |
0.21 |
0.06 |
0.02 |
0.109 |
0.050 |
0.016 |
0.34 |
9.86 |
0.31 |
|
Including |
169.5 |
236.7 |
67.2 |
64.2 |
Core EZ2 |
0.21 |
0.10 |
0.02 |
0.117 |
0.057 |
0.013 |
0.29 |
10.66 |
0.33 |
|
Including |
236.7 |
384.4 |
147.7 |
141.1 |
Lower EZ2 |
0.20 |
0.05 |
0.02 |
0.064 |
0.030 |
0.009 |
0.29 |
9.87 |
0.28 |
|
and |
384.4 |
446.1 |
61.7 |
59.0 |
Eureka Zone 3 (EZ3) |
0.14 |
0.01 |
0.02 |
0.012 |
0.022 |
0.008 |
0.44 |
10.46 |
0.20 |
1. Estimated true thickness calculated from hole angle and average
dip of modeled mineraliation (46°) |
2. Metal Prices for NiEq calculations: Ni = $10.90/lb, Cu =
$4.00/lb, Co = $24.00/lb, Pd = $1700/oz, Pt = $970/oz & Au =
$1855/oz. |
3. Fe and Cr are not included in the NiEq calculations |
Figure 3. Cross section through
EZ-23-007. Location of section line A-A’ displayed on Figure 2. The
Main Eureka Zone (EZ2) has a higher-grade core of 0.36% NiEq over
89.2m estimated true thickness within an envelope of lower grade
(0.28-0.34% NiEq) metal concentration, for an estimated true width
of 295.7m. Note: Chrome and iron are reported in the drilled
interval but are not included in the NiEq calculation.
HOLE EZ-23-008 SUMMARY
- EZ-23-008 drilled into 9.8m of overburden and then into a
poorly mineralized gabbro from 9.8m to 63.1m. The gabbroic unit
transitioned into a weakly mineralized pyroxenite-rich unit from
63.1m to 65.8m. The main mineralized Eureka zone was intersected
from 65.8m to 384.4m downhole, with assays grading 318.6m
(304.4m estimated true thickness) @ 0.31% NiEq (0.21% Ni, 0.07% Cu,
0.02% Co, 0.31% Cr, 10.03% Fe, 0.090 g/t Pd, 0.042 g/t Pt and 0.012
g/t Au) (Table 1 and Figure 4).
- The main mineralized zone was hosted within a pervasively
serpentinized peridotite, with varying amounts of disseminated
sulfides, with up to 10% disseminated sulfides within the Core
Eureka Zone 2. The Core Eureka Zone 2, included in the intersection
above, assayed 67.2m @ 0.33% NiEq (0.21% Ni, 0.10% Cu,
0.02% Co, 0.29% Cr, 10.66% Fe, 0.117 g/t Pd, 0.057 g/t Pt and 0.013
g/t Au).
- Disseminated sulfides decrease within a lower serpentinized
peridotite intrusion from 384.4m to 446.1m (EOH). This lower
peridotite unit assayed 61.7m @ 0.20% NiEq (0.14% Ni, 0.01%
Cu, 0.02% Co, 0.44% Cr, 10.46% Fe, 0.012 g/t Pd, 0.022 g/t Pt and
0.008 g/t Au).
- The mineralization is currently open in all directions from
EZ-23-008.
Figure 4. Cross section through
EZ-23-008. Location of section line B-B’ displayed on Figure 2. The
Main Eureka Zone (EZ2) has a higher-grade core of 0.33% NiEq over
64.2m estimated true thickness within an envelope of lower grade
(0.28-0.31% NiEq) metal concentration, for an estimated true width
of 304.4m. Note: Chrome and iron are reported in the drilled
interval but are not included in the NiEq calculation.
Core Processing & Quality Assurance and Quality
Control (QA/QC):AEMC adheres to stringent Quality
Assurance – Quality Control (“QA/QC”) standards for its Nikolai
Nickel Project to ensure the best practices for logging, sampling,
and analysis of samples. For every 10 core samples, geochemical
blanks, coarse reject or pulp duplicates, or Ni-Cu-PGE-Au certified
reference material standards (CRMs) are inserted into the sample
stream.
Drill core was flown by helicopter daily from drill sites and
transported in secured wooden core boxes to the core logging
facilities in Delta Junction, Alaska. Detailed logging and sampling
data are captured on tablets using MX Deposit software. Samples are
labeled by geologists and sawn in half with a diamond blade, with
half being inserted into a labeled, bar-coded sample bag. The other
half of the core is returned to the wooden boxes for archive.
Samples are transported to SGS Laboratories in Burnaby, BC, using a
contracted transportation carrier.
Once samples are received at the laboratory, they are weighed,
dried, and crushed to 75% passing 2mm. The samples are then riffle
split and pulverized to 85%, passing 75 microns. The samples are
pulverized in a zirconia bowl, to prevent the contamination of Fe
and Cr. Au, Pt, & Pd are analyzed by fire assay with ICP-AES
finish (GE_FAI30V5). Ag is analyzed using a 4-acid digest with AAS
finish (GE_AAS42E50). The remaining 30 elements are analyzed using
sodium peroxide fusion with ICP-AES finish (GE_ICP90A50).
Qualified Person:Gabriel Graf, the Company’s
Chief Geoscientist, is the qualified person, as defined under
National Instrument 43-101 Standards of Disclosure for Mineral
Projects, responsible for, and having reviewed and approved, the
technical information contained in this news release.
For additional information, please visit:
https://alaskaenergymetals.com/
About Alaska Energy MetalsAlaska Energy Metals
Corporation is focused on delineating and developing a large
polymetallic exploration target containing nickel, copper, cobalt,
chrome, iron, platinum, palladium, and gold. Located in Interior
Alaska near existing transportation and power infrastructure, the
project is well-situated to become a significant, domestic source
of critical and strategic energy-related metals for the American
market.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Gregory
A. Beischer, President & CEOToll-Free: 877-217-8978 | Local:
604-638-3164
Sarah Mawji, Public RelationsFinal Edit Media and Public
Relations Email: sarah@finaleditpr.com
Some statements in this news release may contain forward-looking
information (within the meaning of Canadian securities
legislation), including, without limitation, that (a) will receive
all assay results for samples submitted, b) complete metallurgical
and deportment studies, and c) calculate a maiden inferred
resource. These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties, and
other factors which may cause the actual results, performance, or
achievements to be materially different from any future results,
performance, or achievements expressed or implied by the
statements. Forward-looking statements speak only as of the date
those statements are made. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guaranteeing of
future performance and actual results may differ materially from
those in the forward-looking statements. Factors that could cause
the actual results to differ materially from those in
forward-looking statements include regulatory actions, market
prices, and continued availability of capital and financing, and
general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable law, the Company assumes no
obligation to update or to publicly announce the results of any
change to any forward-looking statement contained or incorporated
by reference herein to reflect actual results, future events or
developments, changes in assumptions, or changes in other factors
affecting the forward-looking statements. If the Company updates
any forward-looking statement(s), no inference should be drawn that
it will make additional updates with respect to those or other
forward-looking statements.
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