FULL DISCLOSURE: This is sponsored content for Alaska Energy Metals.
A maiden resource estimate has been released for Alaska Energy Metals’ (TSXV: AEMC) flagship Nikolai project in Alaska. The estimate is based upon historical data that the company acquired earlier this year.
The maiden resource consists of an estimate for the Eureka Zone East, as well as the Eureka Zone West, based on the results of eight of 37 historical holes conducted on the property. Results from the 2023 drill program have not been included in the estimate, the holes of which were 250-300 metre step outs from the historical holes.
At the Eureka Zone East, the resource consists of 88.6 million inferred tonnes grading 0.35% nickel equivalent, while the Eureka Zone West consists of 182.8 million inferred tonnes grading 0.28% nickel equivalent. On a combined basis, the zones are estimated to contain:
- 1,551 million pounds of nickel,
- 373 million pounds of copper,
- 115 million pounds of cobalt,
- 1,341,100 ounces of platinum, palladium, and gold.
Chrome and iron have also been identified as potentially significant co-products at the property, however were excluded from the resource estimate due to an incomplete iron assay. Both metals are expected to be included in a planned mineral resource estimate update in 2024, with chrome and iron being sufficiently assayed under the 2023 step-out drill program.
The resource estimate is based on a 0.20% nickel equivalent cut-off grade, using an open-pit model.
Geographically, the two zones are found approximately two kilometres apart, with early drill data suggesting that the mineralization is connected between the two deposits. The deposits remain open in all directions.
“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,” commented CEO Gregory Beischer.
From a metallurgical perspective, the deposits are said to contain desirable nickel sulfide mineralization that consists of thick layered horizons of nickel and copper sulfides enriched with cobalt and precious metals.
Alaska Energy Metals last traded at $0.55 on the TSX Venture.
FULL DISCLOSURE: Alaska Energy Metals is a client of Canacom Group, the parent company of The Deep Dive. Canacom Group is currently long the equity of Alaska Energy Metals. The author has been compensated to cover Alaska Energy Metals on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
