AEMC Breaking News

Highlights of the Press Release:

Alaska Energy Metals Announces Maiden Ni43-101 Mineral Resource Estimate Exceeding 1.5 Billion Pounds Of Contained Nickel For The Nikolai Nickel Project, Alaska, USA

Mineral Resource Estimate: Inferred Mineral Resources

Eureka Zone East:

• 471 million pounds of nickel
• 165 million pounds of copper
• 34 million pounds of cobalt
• 548,700 ounces of platinum, palladium, and gold

Eureka Zone West:

• 1,080 million pounds of nickel
• 208 million pounds of copper
• 81 million pounds of cobalt
• 792,400 ounces of platinum, palladium, and gold

Resource Estimate: The Nikolai Nickel Project in Alaska, USA, now has its first independent National Instrument 43-101 Standards of Disclosure for Mineral Deposits (NI 43-101) mineral resource estimate. The report includes data from historical drill holes.

1. Total Resources: The total Eureka Zone Mineral Resource Estimate (MRE) includes 1.5 billion pounds of nickel, 372 million pounds of copper, 115 million pounds of cobalt, and a total of 1.34 million ounces of platinum, palladium, and gold.
2. Drilling Results: The report mentions that recent drilling conducted in Summer 2023 could connect two separate deposits, potentially increasing the total metal content.
3. Potential Expansion: The deposits are open in all directions, indicating a likelihood of further resource expansion.
4. Future Updates: An updated NI 43-101 Mineral Resource Estimate is anticipated in 2024, incorporating results from recent drilling campaigns.
5. Project Significance: The Nikolai Nickel Project is seen as a potential significant domestic source of critical and strategic energy-related metals for the American market.

Alaska Energy Metals President & CEO Gregory Beischer commented: 

“The two areas in which we were able to calculate an inferred mineral resource, based only on historical drill holes, are approximately two kilometers apart. Other sparse, historical holes drilled between the deposits indicate a reasonable likelihood that further grid-based drilling will ultimately connect the two deposits together. The drilling we recently conducted in Summer 2023 will go part way towards joining the deposits together and is likely to further increase the contained metal in the deposits substantially. The rapid growth in resources speaks to the consistency and predictability of the deposit, which remains open in all directions. Eureka is quickly evolving into one of the larger nickel resources on the continent.”