Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF)
(“AEMC” or the “Company”) today announced assay results from drill
holes EZ-23-004 & EZ-23-006.
The holes were drilled as part of the Company’s 2023 exploration
program at its 100% owned Nikolai Nickel Project in Central Alaska
(Figure 1). Eight diamond drill holes were drilled during the
campaign, with results from six holes now received and results from
two holes pending.
Figure 1. Nikolai Project -
Property Location Map
SUMMARY
- These new results further demonstrate the Eureka Zone remains
consistent and homogeneous, as indicated by historical drilling on
the property.
- EZ-23-004 was drilled ~560m southeast of EZ-23-002 to test
mineralization continuity along strike to the southeast (Figure
2).
- EZ-23-006 was drilled ~300m northwest of EZ-23-002 to test
mineralization continuity along strike to the northwest (Figure
2).
- The results from these holes have confirmed mineralization
continuity along an 860m strike length on the Eureka Zone, with the
mineralization remaining open in all directions.
To date, AEMC has received assay results for six of the eight
drill holes completed during the 2023 exploration campaign. Assay
results for EZ-23-001 & EZ-23-002 and drill hole locations for
the 2023 exploration campaign can be found in AEMC’s October 16,
2023 press release. Assay results for EZ-23-003 & EZ-23-005 can
be found in AEMC’s October 30, 2023 press release.
Figure 2. Drill hole location
map showing estimated true thicknesses, calculated NiEq grades,
surface geology and surface trace of Eureka Zone 2 mineralization.
PNI and FL drill assay results were reported by Pure Nickel Inc. in
a press release dated October 29th, 2013. The Company’s Qualified
Person has independently verified the assay data reported by Pure
Nickel Inc. and has determined the quality assurance and quality
control data to be acceptable.
HOLE EZ-23-004 SUMMARY
- EZ-23-004 drilled into 28.9m of overburden and then weakly
mineralized pyroxenite-rich unit from 28.9m to 37.9m. The main
mineralized Eureka zone was intersected from 37.9m to 355.1m
downhole, with assays grading 317.2m (304.9m estimated true
thickness) @ 0.34% NiEq (0.23% Ni, 0.08% Cu, 0.02% Co, 0.33% Cr,
10.14% Fe, 0.109 g/t Pd, 0.049 g/t Pt and 0.012 g/t Au) (Table 1
and Figure 3).
- The main mineralized Eureka zone intersection contains a
central, higher-grade zone, included in the intersection above,
with assays grading 93.0m @ 0.40% NiEq (0.26% Ni, 0.13% Cu,
0.02% Co, 0.34% Cr, 10.51% Fe, 0.164 g/t Pd, 0.069 g/t Pt and 0.020
g/t Au).
- The main mineralized zone was hosted within a pervasively
serpentinized peridotite, with varying amounts of disseminated
sulfides, with up to 10% disseminated sulfides within the Core
Eureka Zone 2. Grades and sulfide abundance within the main
mineralized zone decrease near the contact with a pyroxenite
intrusive rock phase from 355.1m to 366.7m.
- Disseminated sulfides increase within a serpentinized
pyroxenite/peridotite intrusion from 366.7m to 434.3m (EOH). This
lower pyroxenite/peridotite unit assayed 67.6m @ 0.23% NiEq
(0.16% Ni, 0.03% Cu, 0.02% Co, 0.41% Cr, 10.04% Fe, 0.022 g/t Pd,
0.032 g/t Pt and 0.006 g/t Au) and is still open at
depth.
- The mineralization is currently open in all directions.
Table 1. Significant
Intersections from EZ-23-004 & EZ-23-006
Figure 3. Cross section through
EZ-23-004. Location of section line A-A’ displayed on Figure 2. The
Main Eureka Zone (EZ2) has a higher-grade core of 0.40% NiEq over
89.4m estimated true thickness within an envelope of lower grade
(0.30-0.32% NiEq) metal concentration, for an estimated true width
of 304.9m. Note: Chrome and iron are reported in the drilled
interval but are not included in the NiEq calculation.
HOLE EZ-23-006 SUMMARY
- EZ-23-006 drilled into 4.2m of overburden and then into a
poorly mineralized gabbro from 4.2m to 78.0m. Multiple late-stage
porphyritic basaltic dikes were intersected in this gabbroic unit
from 7.6m to 64.7m. The gabbroic unit transitioned into a weakly
mineralized pyroxenite-rich unit from 78.0m to 129.1m.
- The Eureka zone was intersected from 129.1m to 321.6m downhole,
with assays grading 192.5m (184.1m estimated true
thickness) @ 0.30% NiEq (0.21% Ni, 0.05% Cu, 0.02% Co, 0.31% Cr,
9.80% Fe, 0.078 g/t Pd, 0.039 g/t Pt and 0.012 g/t Au
(Table 1 and Figure 4).
- The main mineralized zone was hosted within a pervasively
serpentinized peridotite, with varying amounts of disseminated
sulfides. The Core Eureka Zone was not distinguishable in this
intercept.
- Disseminated sulfides began to increase within a lower
serpentinized peridotite intrusion from 340.2m to 480.7m (EOH).
This lower peridotite unit assayed 140.5m @ 0.23% NiEq
(0.17% Ni, 0.01% Cu, 0.02% Co, 0.46% Cr, 9.86% Fe, 0.017 g/t Pd,
0.030 g/t Pt and 0.005 g/t Au). EZ-23-006 was the deepest
hole drilled into the EZ3 mineralization, with Ni and Cr grades
increasing with depth into the lower intrusion. This opens the
potential of exploration drilling along the base of the EZ3
mineralization to test for higher grades than seen near the top of
the intrusion.
- The mineralization is currently open in all directions from
EZ-23-006.
Figure 4. Cross section through
EZ-23-006. Location of section line B-B’ displayed on Figure 2.
Note: Chrome and iron are reported in the drilled interval but are
not included in the NiEq calculation.
Core Processing & Quality Assurance and Quality
Control (QA/QC):AEMC 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 10 core samples, geochemical
blanks, coarse reject or pulp duplicates, or Ni-Cu-PGE-Au certified
reference material standards (CRMs) are inserted into the sample
stream.
Drill core was flown by helicopter daily from drill sites and
transported in secured wooden core boxes to the core logging
facilities in Delta Junction, Alaska. Detailed logging and sampling
data are captured on tablets using MX Deposit software. Samples are
labeled by geologists and sawn in half with a diamond blade, with
half being inserted into a labeled, bar-coded sample bag. The other
half of the core is returned to the wooden boxes for archive.
Samples are transported to SGS Laboratories in Burnaby, BC,
utilizing 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 Person:Gabriel 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. 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.
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) will receive
all assay results for samples submitted, b) complete metallurgical
and deportment studies, and c) calculate an inferred resource based
on the drill holes reported. 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 guaranteeing 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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