Alaska Energy Metals Corporation (TSX-V: AEMC) (OTCQB: AKEMF) is pleased to announce analytical results of its 2024 inaugural exploration drilling program at the Canwell claim block, which forms part of the Nikolai Project in Alaska. The Canwell prospects, Emerick, Odie and Upper Canwell, are located approximately 30 kilometers northeast of the Company’s nickel-rich Eureka deposit, which contains five materials designated by the US Government as critical metals: nickel, cobalt, chromium, platinum, and palladium. The deposit also contains copper, iron and gold (Figure 1).
The 2024 Canwell drill program was completed using one surface diamond drill rig (Figure 2). The program consisted of three holes, totaling 1,047.9 meters (m). One hole was drilled into each of the three target prospects (Table 1) to test compelling geological, geophysical, and geochemical targets (Figure 3).
Alaska Energy Metals Chief Geologist Gabe Graf commented: “After 20 years of limited exploration on the Canwell property, the information collected from these drill holes will aid our understanding of the mineralized ultramafic systems within the Wrangellia Terrane of interior Alaska. In fact, the blebby sulfides intersected at the Upper Canwell prospect is the first subsurface indication for higher-grade sulfides on the property. Furthermore, the potential for coarser-grained nickel sulfides and additional disseminated sulfide zones on the Nikolai Project is encouraging, and we are excited to continue advancing the geologic understanding of the property. We look forward to getting back into these areas in the next exploration season.”
HIGHLIGHTS
Table 1. Drill locations, azimuth and total depth for 2024 Inaugural Canwell drill holes
Canwell 2024 Completed Drill Holes | |||||||
Drill hole # | Prospect | Easting (NAD 83 Zone 6N) | Northing (NAD 83 Zone 6N) | Drill Hole Collar EL (NAD 83 Zone 6N) | Dip | Azimuth | End of Hole Depth (m) |
CAN-24-001 | Emerick | 564849 | 7025792 | 907 | -50 | 38 | 74.8 |
CAN-24-002 | Odie | 569198 | 7023575 | 1329 | -50 | 165 | 527 |
CAN-24-003 | Upper Canwell | 570631 | 7022894 | 1468 | -70 | 195 | 446.1 |
Note: The drill intercepts in this press release are reported as nickel equivalent for convenience in representing the polymetallic mineralization. The reported grade is for total in-situ, gross metal content and does not account for metal recoveries, the type of metal concentrates that might be produced from the rock, or the marketability and prices that may be paid for concentrates. The Company has done testing to determine the percentage of nickel that appears to be in metallic or sulfide form. These results are reported below with each drill hole. Some nickel is likely locked in silicate minerals and therefore not recoverable. However, based on this additional assay work and visual observation, it appears a significant amount of the reported nickel is in sulfide or metallic form. Metal prices used for the equivalent calculation are (US$): nickel – $9.00 per pound, copper – $4.25 per pound, cobalt – $14.00 per pound, platinum – $950 per ounce, palladium – $1,200 per ounce, gold – $2,000 per ounce, iron – $80 per tonne and chromium – $1.03 per pound. The true thickness of the reported drill intercepts is not known as there is insufficient geological information.
EMERICK PROSPECT SUMMARY (CAN-24-001)
Table 2. Significant Intersections from CAN-24-001 (Emerick Prospect)
ODIE PROSPECT SUMMARY (CAN-24-002)
Table 3. Significant Intersections from CAN-24-002 (Odie Prospect)
UPPER CANWELL PROSPECT SUMMARY (CAN-24-003)
Table 4. Significant Intersections from CAN-24-003 (Upper Canwell Prospect)
CORE PROCESSING & QUALITY ASSURANCE AND QUALITY CONTROL (QA/QC):
AEMC adheres to stringent Quality Assurance – Quality Control standards for its Nikolai 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) were 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 at the McLaren River Lodge, Alaska. Logged drill core and sample data were captured on tablets using MX Deposit software. Samples were 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 was returned to the wooden boxes and archived at a secure facility. Samples were transported to SGS Laboratories (SGS) in Burnaby, B.C. using a contracted transportation carrier.
Once samples were received at the SGS they were weighed, dried, and crushed to 75% passing 2mm. The samples were riffle split and pulverized to 85% passing 75 microns. Au, Pt, & Pd were analyzed by fire assay with ICP-AES finish (GE_FAI30V5). Ag was analyzed using a 4-acid digest with AAS finish (GE_AAS42E50). The remaining 30 elements were analyzed using sodium peroxide fusion with ICP-AES finish (GE_ICP90A50). Metallic and sulfide nickel was analyzed using bromine-methanol leach with AAS finish (GC_AAS03D).
Mineralized intersections are reported as drill lengths and were calculated by AEMC personnel. These calculated intersections do not necessarily represent true thickness due to a limited geologic constraint on the geometry of the ultramafic intrusions at Canwell. Geologic interpretations presented in this news release have been completed by AEMC personnel and may be revised with additional geologic information.
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 reviewing and approving the technical information contained in this news release.
For additional information, please visit: https://alaskaenergymetals.com/
ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future, while generating superior returns for shareholders.
AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic, multi-critical Eureka deposit containing five materials designated by the US Government as critical minerals: nickel, cobalt, chromium, platinum, and palladium — and copper, a Department of Energy Critical Material, plus iron and gold. Four of the deposit’s metals are designated Defense Production Act Title III materials, deemed “essential to national defense.”
Located in Interior Alaska near existing transportation and power infrastructure, our flagship project, Nikolai, is well-situated to become a significant domestic source of strategic energy-related metals for North America. AEMC also holds a secondary project in western Quebec, the Angliers – Belleterre project, which has the potential for high–grade nickel-copper sulfide deposits and white hydrogen.
Today, material sourcing demands excellence in environmental performance, carbon mitigation, and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that ESG performance is measured by action and led from the top.
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