FULL DISCLOSURE: This is sponsored content for Alaska Energy Metals.
The final results are in from the 2023 exploration program conducted by Alaska Energy Metals (TSXV: AEMC) at its Nikolai project in the interior of Alaska.
Highlights from the results include:
- EZ-23-007: 310.4 metres at 0.32% nickel equivalent, or 0.21% nickel, 0.08% copper, 0.02% cobalt, 0.106 g/t palladium, 0.052 g/t platinum and 0.013 g/t gold
- including 93.6 metres of 0.36% nickel equivalent, or 0.22% nickel, 0.13% copper, 0.02% cobalt, 0.157 g/t palladium, 0.075 g/t platinum and 0.014 g/t gold
- EZ-23-008: 318.6 metres at 0.31% nickel equivalent, or 0.21% nickel, 0.07% copper, 0.02% cobalt, 0.09 g/t palladium, 0.042 g/t platinum and 0.012 g/t gold
- including 67.2 metres at 0.33% nickel equivalent, or 0.21% nickel, 0.10% copper, 0.02% cobalt, 0.117 g/t palladium, 0.057 g/t platinum and 0.013 g/t gold
Hole EZ-23-007 was drilled to a depth of 552.8 metres, intersecting the main mineralized Eureka zone at a depth of 170.7 metres, hitting the Core EZ2 zone at a depth of 254.2 metres, where the 93.6 metre intersect of 0.36% nickel equivalent begins. Hole EZ-23-008 meanwhile was drilled to a depth of 446.1 metres, with the Eureka zone being intersected at a depth of 65.8 metres. The Core EZ2 zone began its 67.2 metre intersect of 0.33% nickel equivalent at a depth of 169.5 metres.
The drill holes continued to demonstrate continuity of mineralization to the northwest, with hole EZ-23-007 drilled 250 metres northwest of EZ-23-005, while hole EZ-23-008 was drilled 300 metres to the northwest of EZ-23-006. On a combined basis, the eight hole drill program demonstrated continuity of the trend along a 1.2 kilometre strike length, with mineralization still open in all directions.
“With these final 2023 drilling program assay results in hand, we can now work to calculate an update to our Mineral Resource Inventory. We anticipate producing this update in the first quarter of 2024. Metal deportment studies and metallurgical testing have been initiated. With a strong foundation and increased confidence in the exploration pipeline, based on the highly positive results received from this year’s drilling program, we anticipate an ambitious, expanded program for the summer of 2024,” commented Alaska Energy Metals CEO Gregory Beischer on the results.
An initial mineral resource estimate was published in November for the Nikolai project. The report estimates 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.
The company 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.
Alaska Energy Metals last traded at $0.355 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.
