Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF)
(“AEMC” or the “Company”) is pleased to announce it has received
assay results from rock samples collected on the Canwell block of
claims (Property) during summer 2023. The Company has also received
results for its 2023 Controlled-source Audio-frequency
Magnetotellurics (CSAMT) and Time-Domain Electromagnetic (TEM)
ground-based geophysical survey program on the Canwell Property.
Test surveys were also done on the Eureka Property. Together, the
Canwell and Eureka Properties form the Nikolai Nickel Project,
which is located approximately 130km south of Delta Junction,
Alaska, within the Delta River Mining District, Interior Alaska
(Figure 1).
Alaska Energy Metals President & CEO Gregory
Beischer commented: “The surface sampling results confirm
high-grade historical results, but it is the geophysical program
results that are really exciting. The geophysical surveys strongly
suggest that the high-grade mineralization extends below surface,
beneath prior, historical drilling. To test for higher grade nickel
and copper mineralization, we intend to drill these geophysical
anomalies at the Canwell, Odie and Emerick prospects in 2024. It is
notable that the sulfide mineralization is also strongly enriched
in platinum group elements.”
Figure 1. Nikolai Project
Property Location Map
The Company’s 2023 geophysical program was
designed to test CSAMT responses over known mineralization, as well
as to identify untested targets. A two-stage approach was adopted,
utilizing CSAMT as the first stage to designate low resistivity
areas of ultramafic rocks in the subsurface and to define potential
major fault structures. The second stage utilized TEM over
low-resistivity zones defined in the CSAMT. This targeted approach
was to locate potential ultramafic rocks and then observe
electromagnetic responses that may reveal a conductive mineralized
body. Multiple untested targets have been defined from the survey,
with plans to test these targets during the 2024 exploration
program. Figure 2 provides an overview of the CSAMT and TEM survey
grid, interpreted TEM anomalies (black dashed lines and anomaly
number), CSAMT low-resistivity anomalies (red lines), TEM diffusion
grids (color grids), and surface rock sample results from the 2023
program.
Figure 2. Map of CSAMT and TEM
grid lines with TEM diffusion current, interpreted TEM anomalies,
CSAMT low-resistivity areas and 2023 surface sample locations and
results.
CSAMT Line 70150 (Canwell Prospect):The
geophysical line was designed to pass over the Canwell prospect,
which has the highest nickel grade in surface and drill core
samples collected on the Canwell Property. Surface samples
collected during the 2023 exploration campaign are shown in Table
1. These results are consistent with historical samples.
The 2023 geophysical results indicate a high-angle,
low-resistivity zone beneath the Canwell prospect. The inversion
suggests this narrow zone has a near-vertical to steep southwest
dip, with a broad zone of moderately lower resistivity at depth
that hints at a possible source for the mineralization. A weak TEM
anomaly (1A) at the northern edge of the CSAMT low resistivity
anomaly is observed only in the early times in the Z-component. One
drill hole is proposed for 2024 to test the entire width of the
CSAMT and TEM anomaly, below the shallow historical drilling.
Figure 3. Section view through
CSAMT L70150 and TEM Anomaly 1A, displaying historic drill hole
nickel intercepts and proposed drill hole for 2024.
Table 1. Results from 2023 Surface
Sampling the Canwell Prospect
Canwell Prospsect Surface Samples - 2023 |
|
Surface Sample |
Prospect |
Ni (ppm) |
Cu (ppm) |
Co (ppm) |
Pd (ppb) |
Pt (ppb) |
Au (ppb) |
Cr (ppm) |
Fe (%) |
NiEq%1,2 |
|
724510 |
Canwell |
52589 |
8705 |
1005 |
6650 |
1710 |
105 |
2440 |
25.45 |
7.56 |
|
724704 |
Canwell |
50685 |
11655 |
818 |
3530 |
2210 |
404 |
1058 |
20.59 |
6.86 |
|
724706 |
Canwell |
23154 |
55500 |
325 |
1120 |
1470 |
325 |
410 |
10.94 |
4.95 |
|
724705 |
Canwell |
27186 |
11630 |
322 |
4830 |
1810 |
623 |
1142 |
18.66 |
4.70 |
|
724703 |
Canwell |
30850 |
6596 |
527 |
2430 |
4080 |
249 |
2075 |
16.79 |
4.59 |
|
724819 |
Canwell |
28931 |
5754 |
528 |
2210 |
1530 |
149 |
3455 |
14.40 |
3.95 |
|
724701 |
Canwell |
17255 |
12343 |
261 |
1340 |
1920 |
1240 |
2398 |
15.45 |
3.11 |
|
724707 |
Canwell |
15172 |
32159 |
224 |
632 |
920 |
245 |
819 |
9.12 |
3.07 |
|
724702 |
Canwell |
17574 |
6434 |
251 |
652 |
580 |
153 |
3122 |
14.68 |
2.32 |
|
724816 |
Canwell |
5909 |
2943 |
176 |
523 |
490 |
186 |
3886 |
9.88 |
0.97 |
|
724817 |
Canwell |
4672 |
524 |
155 |
558 |
590 |
32 |
7032 |
8.68 |
0.74 |
|
724815 |
Canwell |
4540 |
1171 |
177 |
207 |
250 |
51 |
7223 |
8.00 |
0.63 |
|
724818 |
Canwell |
3952 |
860 |
137 |
76 |
60 |
26 |
6148 |
9.35 |
0.49 |
|
724820 |
Canwell |
63 |
51 |
5 |
4 |
5 |
1 |
10 |
5.53 |
0.03 |
|
724509 |
Canwell |
20 |
5 |
25 |
3 |
5 |
1 |
28 |
10.21 |
0.01 |
|
1. Metal Prices for NiEq calculations: Ni = $10.90/lb, Cu =
$4.00/lb, Co = $24.00/lb, Pd = $1700/oz, Pt = $970/oz & Au =
$1855/oz. |
|
2. Fe and Cr are not included in the NiEq calculations |
|
CSAMT Line 69550 (Odie Prospect):The
geophysical line was designed to pass over the Odie prospect, where
significant nickel was encountered in historic surface rock samples
and shallow drill core samples. Surface samples collected at the
Odie prospect during the 2023 exploration campaign are shown in
Table 2. These surface results are consistent with historical
samples.
The 2023 geophysical results indicate a prominent
low-resistivity feature below the Odie prospect. The inversion
suggests the upper portion of the anomaly dips to the southwest and
then abruptly changes dip to the north at depth. The TEM profiles
show a broad X-component peak over the top of the CSAMT low
resistivity (X-component is negative by convention for the
southeast side of the loop). The Z and X components are consistent
with the up-dip edge of a plate-like source at TEM station 425
(2B). Historical drilling only intersected the shallow, southwest
dipping CSAMT anomaly but did return highly anomalous nickel
values. Two drill holes are proposed for 2024 to test the width and
depth of the CSAMT anomaly.
Figure 4. Section view through
CSAMT L69550 and TEM Anomaly 2A & 2B, displaying historic drill
hole nickel intercepts and proposed drill holes for 2024.
Table 2. Results from 2023 Surface
Sampling the Odie Prospect
Odie Prospsect Surface Samples - 2023 |
|
Surface Sample |
Prospect |
Ni (ppm) |
Cu (ppm) |
Co (ppm) |
Pd (ppb) |
Pt (ppb) |
Au (ppb) |
Cr (ppm) |
Fe (%) |
NiEq%1,2 |
|
724809 |
Odie |
2743 |
160 |
153 |
79 |
130 |
27 |
4926 |
9.26 |
0.36 |
|
724807 |
Odie |
3049 |
537 |
154 |
1 |
5 |
1 |
5109 |
8.85 |
0.36 |
|
724854 |
Odie |
2411 |
61 |
154 |
71 |
170 |
12 |
5266 |
9.05 |
0.32 |
|
724823 |
Odie |
2777 |
305 |
114 |
11 |
5 |
6 |
6083 |
11.50 |
0.32 |
|
724811 |
Odie |
2282 |
1234 |
112 |
45 |
100 |
86 |
4449 |
10.25 |
0.32 |
|
724856 |
Odie |
1985 |
172 |
142 |
95 |
150 |
43 |
3712 |
9.24 |
0.28 |
|
724806 |
Odie |
2532 |
28 |
113 |
4 |
5 |
3 |
6410 |
6.66 |
0.27 |
|
724805 |
Odie |
2487 |
40 |
101 |
2 |
5 |
2 |
7091 |
8.14 |
0.27 |
|
724804 |
Odie |
2197 |
67 |
117 |
10 |
20 |
3 |
5292 |
8.19 |
0.27 |
|
724853 |
Odie |
2263 |
50 |
126 |
21 |
30 |
4 |
5499 |
8.46 |
0.26 |
|
724808 |
Odie |
2019 |
220 |
141 |
55 |
70 |
29 |
4226 |
9.30 |
0.26 |
|
724855 |
Odie |
1922 |
182 |
144 |
38 |
100 |
38 |
3965 |
9.56 |
0.25 |
|
724852 |
Odie |
2119 |
127 |
118 |
6 |
10 |
45 |
5296 |
8.91 |
0.25 |
|
724851 |
Odie |
2188 |
36 |
133 |
20 |
40 |
4 |
5713 |
8.58 |
0.25 |
|
724802 |
Odie |
2159 |
145 |
124 |
12 |
20 |
10 |
6923 |
9.10 |
0.25 |
|
724803 |
Odie |
1599 |
232 |
114 |
8 |
10 |
6 |
4259 |
9.17 |
0.19 |
|
724801 |
Odie |
1354 |
125 |
91 |
10 |
20 |
8 |
3106 |
7.25 |
0.17 |
|
724824 |
Odie |
38 |
5 |
18 |
3 |
5 |
2 |
40 |
6.26 |
NA |
|
724812 |
Odie |
37 |
11 |
19 |
1 |
5 |
2 |
27 |
4.77 |
NA |
|
1. Metal Prices for NiEq calculations: Ni = $10.90/lb, Cu =
$4.00/lb, Co = $24.00/lb, Pd = $1700/oz, Pt = $970/oz & Au =
$1855/oz. |
|
2. Fe and Cr are not included in the NiEq calculations |
|
CSAMT Line 65550 (Emerick Prospect):This
geophysical line was designed to pass over the Emerick Prospect.
The line was continued to the north, over an area where historical
DIGHEM surveys indicated zones of good electromagnetic response.
However, these zones were never drill-tested. Surface samples along
this line, as well as the remaining reconnaissance surface samples
collected during the 2023 exploration campaign, are in Table 3.
The results show distinctly lower resistivity along the entire
length of the line compared to other lines. From the surface down
to 75 meters, the resistivity suggests a thinly layered lithology,
likely the volcaniclastic basement rocks in this area. Lower
resistivity occurs beneath this layered lithology and is consistent
with the location of ultramafic rocks in historical drilling. The
TEM shows a coincident peak in the X-component and crossover in the
Z-component at TEM station 1300 (3A). Historical mapping in this
area has not identified any outcropping ultramafic rocks. However,
they may be buried below a layer of volcaniclastics. A
crossover/inflection in the Z-component and a broad peak in the
X-component is observed at mid-time near TEM station 650 (3B). This
area has ultramafic rocks mapped at surface and has been tested by
historical drilling to the south, with disseminated mineralization
encountered. Further geological mapping and sampling around these
anomalies will be completed with two drill holes proposed in 2024
to test these CSAMT and TEM anomalies.
Figure 5. Section view through
CSAMT L65550 and TEM Anomaly 3A & 3B, displaying historic drill
hole nickel intercepts and proposed drill holes for 2024.
Table 3. Results from 2023 Emerick
Prospect and Reconnaissance Surface
Sampling
Reconnaissance Surface Samples - 2023 |
|
Surface Sample |
Prospect |
Ni (ppm) |
Cu (ppm) |
Co (ppm) |
Pd (ppb) |
Pt (ppb) |
Au (ppb) |
Cr (ppm) |
Fe (%) |
|
724555 |
CSAMT L65550 |
1813 |
191 |
79 |
26 |
30 |
14 |
2924 |
10.39 |
|
724553 |
CSAMT L65500 |
100 |
48 |
40 |
13 |
5 |
3 |
120 |
7.37 |
|
724901 |
CSAMT L68650 |
88 |
90 |
56 |
1 |
5 |
2 |
96 |
13.04 |
|
724551 |
CSAMT L65500 |
75 |
27 |
10 |
8 |
5 |
3 |
22 |
4.59 |
|
724502 |
CSAMT L66575 |
24 |
12 |
17 |
1 |
5 |
10 |
21 |
5.42 |
|
724501 |
CSAMT L66575 |
23 |
54 |
16 |
1 |
5 |
69 |
21 |
5.59 |
|
724821 |
Recon |
22 |
18 |
5 |
1 |
5 |
3 |
10 |
4.28 |
|
724505 |
CSAMT L66575 |
18 |
47 |
38 |
3 |
5 |
14 |
21 |
6.65 |
|
724822 |
Recon |
17 |
929 |
12 |
8 |
5 |
1 |
10 |
5.46 |
|
724813 |
CSAMT L65500 |
17 |
39 |
20 |
1 |
5 |
2 |
21 |
4.29 |
|
724814 |
CSAMT L65500 |
15 |
23 |
22 |
38 |
60 |
21 |
23 |
4.90 |
|
724508 |
CSAMT L67225 |
14 |
49 |
13 |
15 |
5 |
23 |
10 |
4.65 |
|
724507 |
CSAMT L67225 |
14 |
70 |
10 |
1 |
5 |
3 |
10 |
5.44 |
|
724503 |
CSAMT L66575 |
13 |
2530 |
5 |
1 |
5 |
3 |
10 |
5.27 |
|
724504 |
CSAMT L66575 |
10 |
12187 |
12 |
1 |
5 |
5 |
10 |
4.52 |
|
724506 |
CSAMT L67225 |
5 |
46 |
10 |
1 |
5 |
7 |
10 |
7.57 |
|
Eureka CSAMT:In addition to the CSAMT completed
on the Canwell Property, two CSAMT lines were completed on the
Eureka Property over known mineralization of the Eureka Zone to
check the geology and disseminated mineralization signatures
(Figure 6). The CSAMT had good correlation with the modeled rock
types at the Eureka Zone, with gabbro and pyroxenite rock units
having a higher resistivity than the serpentinized peridotite. The
Eureka Zone mineralization correlates well with lower resistivity.
The lower resistivity is likely a result of serpentinization of the
ultramafic rocks and/or the disseminated sulfide mineralization.
Additional CSAMT surveys are planned for 2024 to the west of the
current Mineral Resource Estimate to locate the faulted Eureka
Zone. Surveys are also planned perpendicular to the 2023 surveys to
check for feeder systems into the base of the Eureka Zone.
Figure 6. Plan Map (top) and
cross section (bottom) through CSAMT Line 1 on the Eureka
Property.
Surface Sample Quality Assurance and
Quality Control (QA/QC):Alaska Energy Metals adheres to
stringent Quality Assurance – Quality Control (“QA/QC”) standards
for its Nikolai Nickel Project to ensure the best practices for
logging, sampling, and analysis of samples. For every 20 samples,
one pulp duplicate sample was inserted.
Surface samples collected were inserted into a labeled,
bar-coded samples bag. Information collected for each sample
includes geologist collected sample, sample location, rock type,
mineralization, and detailed description of the rock sample.
Samples were stored at AEMC’s secure camp location until they could
be sent in for analysis. Samples are transported to SGS
Laboratories in Burnaby, B.C. using a contracted transportation
carrier.
Once samples are received at the laboratory, they are weighed,
dried, and crushed to 75% passing 2mm. The samples are then riffle
split and pulverized to 85% passing 75 microns. The samples are
pulverized in a zirconia bowl, to prevent the contamination of Fe
and Cr. Au, Pt, & Pd are analyzed by fire assay with ICP-AES
finish (GE_FAI30V5). Ag is analyzed using a 4-acid digest with AAS
finish (GE_AAS42E50). The remaining 30 elements are analyzed using
sodium peroxide fusion with ICP-AES finish (GE_ICP90A50).
Qualified PersonGabriel Graf, the Company’s
Chief Geoscientist, is the qualified person, as defined under
National Instrument 43-101 Standards of Disclosure for Mineral
Projects, responsible for, and having reviewed and approved, the
technical information contained in this news release.
For additional information, visit:
https://alaskaenergymetals.com/
About Alaska Energy MetalsAlaska Energy Metals
Corporation is focused on delineating and developing a large
polymetallic exploration target containing nickel, copper, cobalt,
chrome, iron, platinum, palladium, and gold at the Nikolai Nickel
Project. Located in central Alaska near existing transportation and
power infrastructure, the project is well-situated to become a
significant, domestic source of critical and strategic
energy-related metals for the American market. Additionally, the
company is exploring the Angliers Nickel Project in Western
Quebec.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Gregory
A. Beischer, President & CEOToll-Free: 877-217-8978 | Local:
604-638-3164
Sarah Mawji, Public RelationsFinal Edit Media and Public
Relations Email: sarah@finaleditpr.com
Some statements in this news release may contain
forward-looking information (within the meaning of Canadian
securities legislation), including, without limitation, that it
will drill holes to test the Canwell, Odie and Emerick prospects
and do more geophysical surveys in 2024. These statements address
future events and conditions and, as such, involve known and
unknown risks, uncertainties, and other factors which may cause the
actual results, performance, or achievements to be materially
different from any future results, performance, or achievements
expressed or implied by the statements. Forward-looking statements
speak only as of the date those statements are made. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results may differ
materially from those in the forward-looking statements. Factors
that could cause the actual results to differ materially from those
in forward-looking statements include regulatory actions, market
prices, and continued availability of capital and financing, and
general economic, market or business conditions. Investors are
cautioned that any such statements are not guarantees of future
performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable law, the Company assumes no
obligation to update or to publicly announce the results of any
change to any forward-looking statement contained or incorporated
by reference herein to reflect actual results, future events or
developments, changes in assumptions, or changes in other factors
affecting the forward-looking statements. If the Company updates
any forward-looking statement(s), no inference should be drawn that
it will make additional updates with respect to those or other
forward-looking statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this press release.
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