FULL DISCLOSURE: This is sponsored content for Alaska Energy Metals.
Alaska Energy Metals (TSXV: AEMC) has substantially expanded its mineral resource estimate for the Eureka deposit at the Nikolai Nickel Project. The expansion follows the inclusion of a 2023 eight hole drill program into the resource calculation, as well as data on 35 historical holes that was purchased in August 2023.
“In less than a year, we have taken an exploration concept to a substantial deposit of nickel and other critical metals. The mineral resource estimate update has produced a 180% increase in the Inferred tonnage, and added substantial, new Indicated tonnage to the deposit. The update increases the nickel metal content of the deposit to over 8 billion pounds (more than 3.7 million metric tonnes),” commented Alaska Energy CEO Gregory Beischer.
The model for the Eureka Deposit as a whole has been enhanced under the revised mineral estimate, with the Eureka West and Eureka East deposits now connected as a single deposit, which contains a strike length of 4.5 kilometres. The new estimate meanwhile has seen a substantial amount of the resource moved into the Indicated category, whereas the maiden resource contained just Inferred resources. Despite the addition of indicated resources, the inferred category saw a 180% increase in resource size.
The new resource estimate outlines 5.17 billion pounds of indicated nickel equivalent at a grade of 0.29%, and 5.40 billion pounds of inferred nickel equivalent at a grade of 0.27%. The resource is calculated with a 0.20% cutoff grade.
The resource is contained within three parallel zones of sulfide mineralization, EZ1, EZ2, and EZ3, with a higher grade zone being identified in EZ2, which is said to have continuity along much of the deposit. The amalgamation of Eureka West and Eureka East into one deposit meanwhile has resulted in the strip ratio for the deposit decreasing substantially from 3.7:1 to 1.5:1.
“With this updated mineral resource estimate, the Eureka deposit of the Nikolai Nickel project represents a globally significant accumulation of nickel and has now become one of the larger known nickel deposits in the United States. Nikolai could potentially become an important source of nickel for the USA, catering to the needs of various manufacturing sectors including stainless steel, electric vehicles, defense components, long-term, grid-scale renewable energy storage batteries and a myriad of other uses,” continued Beischer.
Alaska Energy Metals last traded at $0.385 on the TSX Venture.
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