FULL DISCLOSURE: This is sponsored content for Alaska Energy Metals.
Alaska Energy Metals (TSXV: AEMC) has released further results from its eight hole drill program conducted at the Nikolai Nickel project in Alaska. The latest results are said to confirm the consistency of mineralization at the Eureka zone.
The latest two holes to be released were drilled 560 metres to the southeast, and 300 metres to the northwest of hole EZ-23-002. The strike length of the zone as a result has now been extended to 860 metres, with mineralization remaining open in all directions.
Highlights of the drill results include:
- EZ-23-004: 317.2 metres of 0.34% nickel equivalent, including 93.0 metres at 0.40% nickel equivalent
- EZ-23-006: 192.5 metres of 0.30% nickel equivalent
Notably, hole EZ-23-004 intersected a high grade zone, which assayed 0.40% nickel equivalent over 89.4 metres within the Core Eureka Zone 2. The zone was intersected at a depth of 140.2 metres, below the Upper Eureka Zone 2, and is said to contain up to 10% disseminated sulfides.
“With results from the remaining two drill holes anticipated soon, we can begin calculating an updated Inferred Resource and complete metallurgical studies. Drilling results are consistent with historical drill holes, which intermittently trace out a strike extent of more than 10 kilometers for the mineralized zone. The nickel–copper sulfide mineralization is remarkably homogeneous,” commented CEO Gregory Beischer.
Assays from two holes conducted under the 2023 program remain outstanding.
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Much of the drilling has notably taken place outside of the current mineral resource estimate area, with drilling focused near the Eureka Zone East. The company is currently forecasting that an update will be provided by March 2024. The current estimate, released last month, identified that the Eureka Zone West contains 182.8 million inferred tonnes grading 0.28% nickel equivalent, while the Eureka Zone East contains 88.6 million inferred tonnes grading 0.35% nickel equivalent.
Alaska Energy Metals is currently estimating that it has a possible mineral deposit between 295 and 395 million tonnes, containing between 1,310 million and 1,754 million pounds of nickel plus other metals.
Exploration in 2024 meanwhile is planned to consist of an additional 15,000 metres of drilling across 26 holes, with the aim of extending the strike length at the Eureka Zone to over 5 kilometres. The historical data collected on the project suggests the strike length could extend to as much as 12 kilometres.
Alaska Energy Metals last traded at $0.375 on the TSX Venture.
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