Alaska Energy Metals Provides Corporate Update
January 30 2024 - 7:30AM
Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF)
(“
AEMC” or the
“Company”) is
pleased to provide a corporate update that highlights the
accomplishments made since inception in April 2023 and looks ahead
to 2024 plans.
Alaska Energy Metals Corporation President &
CEO Gregory Beischer commented: “I am very proud of what we have
accomplished in just 10 months. We’ve successfully rebranded and
recapitalized the Company; no small feat given challenging market
conditions. For our Nikolai Nickel project in Alaska, we purchased
a large database of historical information, calculated a
significant maiden nickel resource, and identified drill targets to
test for high-grade mineralization. With all our 2023 drill results
now in hand, we will soon publish an updated Mineral Resource
Estimate for the Eureka Zone and will receive bench-scale
metallurgical test results. With an aggressive drilling program
planned at Nikolai in 2024, we believe we will significantly expand
the Nikolai Project’s metal inventory. Last year, we also purchased
a company that owns a Quebec nickel project, which came with $2.8
million in cash. We have assembled a very strong team and are now
executing a comprehensive market awareness program to position us
for the next phase of the Company’s growth.”
Company Progress:
- Renamed and refocused the company
as a nickel explorer centered around two key projects in North
America: the flagship Nikolai Nickel project in Alaska, USA, and a
secondary project in Quebec, Canada.
- With the assistance of a strong
capital markets group, brought in more than $15 million into the
Company treasury during very challenging market conditions.
- Purchased an extensive database of
exploration information at a bargain price, then recovered a
portion of the cost by selling some of the information to a
neighbouring claim owner. The dataset, created by prior workers
from 1995 to 2012, contains geological, geochemical, geophysical,
and drilling information costing tens of millions of dollars. This
purchase allowed the Company to accelerate its exploration
objectives at very low cost.
- Drill hole information in the
purchased database allowed the Company to calculate a maiden
Inferred Resource. To date, two deposits situated approximately two
kilometers (1.4 miles) apart are included in the Mineral Resource
Estimate (Nikolai Mineral Estimate Technical Report – Document No.
RPT 23706-0001. January 5, 2024, Stantec Consulting Services Inc.).
Together the deposits contain more than 680,000 tonnes (1.5 billion
pounds) of nickel with accessory copper, cobalt, chrome, iron,
platinum, palladium, and gold. The Company considers this Mineral
Estimate to be current. Please refer to the press releases dated
November 20, 2023 and January 5, 2024.
- Safely and efficiently executed a
drilling program consisting of eight diamond drill holes totaling
4,138 meters (13,576 feet) of core at the Eureka Zone of the
Nikolai project. The Company has published results that show strike
continuity of 1.2 kilometers (3,900 feet) of a mineralized zone
ranging between 200 meters (650 feet) to more than 300 meters (980
feet) true width. Assay results indicate a consistent and
homogenous grade of about 0.34% nickel equivalent metal. The Eureka
Zone is open in all directions and historical drilling and sampling
indicates the potential for the zone to extend 12 kilometers (7.5
miles) or more.
- Performed specialized geophysical
surveys to successfully identify high-priority drill targets at the
Canwell block of the Nikolai project where high grades of nickel,
copper and platinum group elements were sampled at surface.
Looking Forward:
In 2024, we look forward to the following:
- We plan to calculate and publish,
through a third-party, industry-leading, independent mining
consulting firm, an update to the Mineral Resource Estimate that
includes information from the AEMC 2023 drill program. We aim to
publish the update in Q1 2024.
- Drill core samples have been
submitted for metal deportment studies to determine the mineral
species in which the various metals in the Eureka zone are
contained. Deportment will have a strong bearing on metal recovery
rates. Results are expected in Q1 2024.
- After deportment studies are
complete, the samples will be subjected to bench-scale flotation
testing to determine recovery rates for the metals. Results are
expected in Q2 2024.
- We have built a strong marketing
team that will work to increase market awareness of the Company
around the world, so that we can maximize shareholder returns as we
advance Company objectives.
- We intend to raise funds through
equity financing to execute an aggressive drilling program designed
to significantly expand the Mineral Resource Inventory of the
Eureka Zone and to explore for high grade nickel mineralization at
the Canwell Block of the Nikolai project.
- Plans are being made to begin
exploration at the Angliers-Belleterre project in Quebec.
Investor Relations and Market
Awareness:
Further to the Company’s news release dated
January 23, 2024, the Company clarifies with respect to the renewal
of its marketing engagement of Gold Standard Media, LLC
(“Gold Standard”), that the affiliates of Gold
Standard’s share position in AEMC was inadvertently incorrectly
stated. The affiliates of Gold Standard currently own 4,285,582
AEMC Shares. In addition, the engagement of Triomphe Holdings Ltd.
dba Capital Analytica (“Capital Analytica”) is for
an initial term of three months with the possibility of renewing
for an additional three-month term on the same terms as the initial
term, not an initial six-month term with a six-month renewal
option. For more information on these marketing engagements, please
refer to the Company’s news release dated January 23, 2024.
Stock Option Grant:
The Company’s Board of Directors has approved a grant of stock
options to officers, directors, employees and consultants. In total
3,175,000 options are to be granted with a strike price equal to
the market closing price on January 30, 2024. The stock options
will have a term of five years.
Qualified PersonGregory Beischer, the Company’s
president and chief executive officer, 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. Located in central
Alaska, the Nikolai Nickel project is located 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. The
Company is also exploring the Angliers-Belleterre Nickel project in
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 (a)
AEMC will publish a resource update, b) receive and publish
deportment and bench scale metallurgy tests, (c) raise equity
financing and (d) carry out further exploration and drilling, (e)
obtain TSX-V approval for the marketing and investor awareness
engagements, and (f) grant stock options. 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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