Alaska Energy Metals Announces Assays from Surface ROCK Sampling and Geophysical Survey Results at the Canwell Property, Nikolai Nickel Project, Alaska
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
NR: 24-01
ALASKA ENERGY METALS ANNOUNCES ASSAYS
FROM SURFACE ROCK SAMPLING AND GEOPHYSICAL
SURVEY RESULTS AT THE CANWELL PROPERTY,
NIKOLAI NICKEL PROJECT, ALASKA
HIGHLIGHTS:
• Three excellent prospects for high-grade mineralization have been revealed: the
Canwell, Odie and Emerick prospects.
• Surface rock sample assay results exceeding 5% nickel and 5% copper at the Canwell
prospect.
• Geophysical surveys reveal strong conductive zones with magnetic highs beneath
surface nickel–copper anomalies.
• High-potential drill targets have been developed to test for high-grade mineralization
in summer 2024.
VANCOUVER, BRITISH COLUMBIA, January 4, 2024 – 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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Assays From Surface Rock Sampling and
Geophysical Survey Results at Canwell
Page 2
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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Assays From Surface Rock Sampling and
Geophysical Survey Results at Canwell
Page 3
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.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Assays From Surface Rock Sampling and
Geophysical Survey Results at Canwell
Page 4
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.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Assays From Surface Rock Sampling and
Geophysical Survey Results at Canwell
Page 5
Figure 3. Section view through CSAMT L70150 and TEM Anomaly 1A, displaying historic drill hole
nickel intercepts and proposed drill hole for 2024.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Assays From Surface Rock Sampling and
Geophysical Survey Results at Canwell
Page 6
Table 1. Results from 2023 Surface Sampling the Canwell Prospect
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
Surface Sample ProspectNi (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
Canwell Prospsect Surface Samples - 2023
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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Assays From Surface Rock Sampling and
Geophysical Survey Results at Canwell
Page 7
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.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Assays From Surface Rock Sampling and
Geophysical Survey Results at Canwell
Page 8
Table 2. Results from 2023 Surface Sampling the Odie Prospect
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
Surface Sample ProspectNi (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
Odie Prospsect Surface Samples - 2023
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