Alaska Energy Metals Announces Final Drill Results from 2023 Exploration Program
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: 23-25
ALASKA ENERGY METALS ANNOUNCES FINAL DRILL
RESULTS FROM 2023 EXPLORATION PROGRAM
HIGHLIGHTS
• Alaska Energy Metals has received results for the final two diamond drill holes from
its 2023 exploration program at Nikolai.
• Assay results from drill hole EZ-23-007 returned the following downhole
intersection: 310.4 meters (m) @ 0.32% Nickel Equivalent (“NiEq”) (0.21% Ni,
0.08% Cu, 0.02% Co, 0.106 g/t Pd, 0.052 g/t Pt and 0.013 g/t Au). The Core Eureka
Zone, included in the intersection above, graded 93.6m @ 0.36% NiEq (0.22% Ni,
0.13% Cu, 0.02% Co, 0.157 g/t Pd, 0.075 g/t Pt and 0.014 g/t Au). EZ-23-007 was
collared approximately 250m northwest of EZ-23-005.
• Assay results from drill hole EZ-23-008 returned the following downhole
intersection: 318.6m @ 0.31% NiEq (0.21% Ni, 0.07% Cu, 0.02% Co, 0.090 g/t Pd,
0.042 g/t Pt and 0.012 g/t Au). The Core Eureka Zone, included in the intersection
above, graded 67.2m @ 0.33% NiEq (0.21% Ni, 0.10% Cu, 0.02% Co, 0.117 g/t Pd,
0.057 g/t Pt and 0.013 g/t Au). EZ-23-008 was collared approximately 300 meters
northwest of EZ-23-006.
• The results from the eight holes drilled in 2023 confirm the consistency of
mineralization spanning 1.2-kilometers of strike length along the Eureka Zone. The
mineralization remains open in all directions.
Alaska Energy Metals President & CEO Gregory Beischer commented: “With these final 2023
drilling program assay results in hand, we can now work to calculate an update to our Mineral
Resource Inventory. We anticipate producing this update in the first quarter of 2024. Metal
deportment studies and metallurgical testing have been initiated. With a strong foundation and
increased confidence in the exploration pipeline, based on the highly positive results received
from this year’s drilling program, we anticipate an ambitious, expanded program for the
summer of 2024. We remain dedicated to responsible resource development and will continue to
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals Announces Final Drill
Results From 2023 Exploration Program
Page 2
work towards uncovering a domestic supply of nickel, which is essential to a growing number of
industries and critical for America’s energy future.”
VANCOUVER, BRITISH COLUMBIA, December 19, 2023 – Alaska Energy Metals
Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) today announced
assay results from drill holes EZ-23-007 & EZ-23-008, which marks the receipt of all assay
results from the Company’s 2023 exploration program at its 100% owned Nikolai Nickel
Project in Interior Alaska (Figure 1), during which eight diamond drill holes were drilled.
Figure 1. Nikolai Project - Property Location Map
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals Announces Final Drill
Results From 2023 Exploration Program
Page 3
SUMMARY
• These new results further demonstrate the Eureka Zone remains consistent and
homogeneous, as indicated by historical drilling on the property.
• EZ-23-007 was drilled ~250m northwest of EZ-23-005 to test mineralization
continuity along strike to the northwest (Figure 2).
• EZ-23-008 was drilled ~300m northwest of EZ-23-006 to test mineralization
continuity along strike to the northwest (Figure 2).
• The results from all eight holes have confirmed mineralization continuity along a
1.2-kilometer strike length on the Eureka Zone, with the mineralization remaining
open in all directions.
AEMC has received assay results for all 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 press release dated October 16,
2023. Assay results for EZ-23-003 & EZ-23-005 can be found in AEMC’s press release dated
October 30, 2023 and assay results for EZ-23-004 & EZ-23-006 can be found in AEMC’s
press release dated December 5, 2023.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals Announces Final Drill
Results From 2023 Exploration Program
Page 4
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.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals Announces Final Drill
Results From 2023 Exploration Program
Page 5
HOLE EZ-23-007 SUMMARY
• EZ-23-007 drilled into 21.0m of overburden and then into a poorly mineralized
gabbro from 21.0m to 119.4m. The gabbroic unit transitioned into a weakly
mineralized pyroxenite-rich unit from 119.4m to 170.7m. The main mineralized
Eureka zone was intersected from 170.7m to 481.1m downhole, with assays grading
310.4m (295.7m estimated true thickness) @ 0.32% NiEq (0.21% Ni, 0.08% Cu, 0.02%
Co, 0.30% Cr, 9.97% Fe, 0.106 g/t Pd, 0.052 g/t Pt and 0.013 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 93.6m @ 0.36% NiEq
(0.22% Ni, 0.13% Cu, 0.02% Co, 0.30% Cr, 10.73% Fe, 0.157 g/t Pd, 0.075 g/t Pt
and 0.014 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 481.1m to 488.0m.
• Disseminated sulfides increase within a serpentinized pyroxenite/peridotite
intrusion from 488.0m to 552.8m (EOH). This lower pyroxenite/peridotite unit
assayed 64.8m @ 0.22% NiEq (0.15% Ni, 0.03% Cu, 0.02% Co, 0.44% Cr, 10.44% Fe,
0.021 g/t Pd, 0.035 g/t Pt and 0.010 g/t Au) and is still open at depth.
• The mineralization is currently open in all directions.
Table 1. Significant Intersections from EZ-23-007 & EZ-23-008
Drill hole # End of Hole
Depth (m)
Downhole
From (m)
Downhole
To (m)
Downhole
Intersection
(m)
Estimated
True
Thickness1
(m)
Mineralized Zone Ni (%) Cu (%) Co (%) Pd (g/t) Pt (g/t) Au (g/t) Cr (%) Fe (%) NiEq%2,3
EZ-23-007 552.8 170.7 481.1 310.4 295.7 Eureka Zone 2 (EZ2) 0.21 0.08 0.02 0.106 0.052 0.013 0.30 9.97 0.32
Including 170.7 254.2 83.5 79.5 Upper EZ2 0.22 0.08 0.02 0.134 0.068 0.018 0.35 9.34 0.34
Including 254.2 347.8 93.6 89.2 Core EZ2 0.22 0.13 0.02 0.157 0.075 0.014 0.30 10.73 0.36
Including 347.8 481.1 133.3 127.0 Lower EZ2 0.20 0.04 0.02 0.053 0.026 0.009 0.28 9.84 0.28
and 488 552.8 64.8 61.7 Eureka Zone 3 (EZ3) 0.15 0.03 0.02 0.021 0.035 0.010 0.44 10.44 0.22
EZ-23-008 446.1 65.8 384.4 318.6 304.4 Eureka Zone 2 (EZ2) 0.21 0.07 0.02 0.090 0.042 0.012 0.31 10.03 0.31
Including 65.8 169.5 103.7 99.1 Upper EZ2 0.21 0.06 0.02 0.109 0.050 0.016 0.34 9.86 0.31
Including 169.5 236.7 67.2 64.2 Core EZ2 0.21 0.10 0.02 0.117 0.057 0.013 0.29 10.66 0.33
Including 236.7 384.4 147.7 141.1 Lower EZ2 0.20 0.05 0.02 0.064 0.030 0.009 0.29 9.87 0.28
and 384.4 446.1 61.7 59.0 Eureka Zone 3 (EZ3) 0.14 0.01 0.02 0.012 0.022 0.008 0.44 10.46 0.20
Nikolai Significant Intersections - Eureka Zone
1. Estimated true thickness calculated from hole angle and average dip of modeled mineraliation (46 °)
2. 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.
3. 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
Alaska Energy Metals Announces Final Drill
Results From 2023 Exploration Program
Page 6
Figure 3. Cross section through EZ-23-007. Location of section line A-A’ displayed on Figure 2. The Main
Eureka Zone (EZ2) has a higher-grade core of 0.36% NiEq over 89.2m estimated true thickness within an
envelope of lower grade (0.28-0.34% NiEq) metal concentration, for an estimated true width of 295.7m.
Note: Chrome and iron are reported in the drilled interval but are not included in the NiEq calculation.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals Announces Final Drill
Results From 2023 Exploration Program
Page 7
HOLE EZ-23-008 SUMMARY
• EZ-23-008 drilled into 9.8m of overburden and then into a poorly mineralized
gabbro from 9.8m to 63.1m. The gabbroic unit transitioned into a weakly
mineralized pyroxenite-rich unit from 63.1m to 65.8m. The main mineralized Eureka
zone was intersected from 65.8m to 384.4m downhole, with assays grading 318.6m
(304.4m estimated true thickness) @ 0.31% NiEq (0.21% Ni, 0.07% Cu, 0.02% Co,
0.31% Cr, 10.03% Fe, 0.090 g/t Pd, 0.042 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, with up to 10% disseminated
sulfides within the Core Eureka Zone 2. The Core Eureka Zone 2, included in the
intersection above, assayed 67.2m @ 0.33% NiEq (0.21% Ni, 0.10% Cu, 0.02% Co,
0.29% Cr, 10.66% Fe, 0.117 g/t Pd, 0.057 g/t Pt and 0.013 g/t Au).
• Disseminated sulfides decrease within a lower serpentinized peridotite intrusion
from 384.4m to 446.1m (EOH). This lower peridotite unit assayed 61.7m @ 0.20%
NiEq (0.14% Ni, 0.01% Cu, 0.02% Co, 0.44% Cr, 10.46% Fe, 0.012 g/t Pd, 0.022 g/t
Pt and 0.008 g/t Au).
• The mineralization is currently open in all directions from EZ-23-008.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Alaska Energy Metals Announces Final Drill
Results From 2023 Exploration Program
Page 8
Figure 4. Cross section through EZ-23-008. Location of section line B-B’ displayed on Figure 2. The Main
Eureka Zone (EZ2) has a higher-grade core of 0.33% NiEq over 64.2m estimated true thickness within an
envelope of lower grade (0.28-0.31% NiEq) metal concentration, for an estimated true width of 304.4m.
Note: Chrome and iron are reported in the drilled interval but are not included in the NiEq calculation.