Alaska Energy Metals Intersects 317.2 Meters Grading 0.34% Nickel Equivalent, Confirming Mineralization Along 860 Meters of Strike Length at the 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: 23-23
ALASKA ENERGY METALS INTERSECTS 317.2 METERS
GRADING 0.34% NICKEL EQUIVALENT, CONFIRMING
MINERALIZATION ALONG 860 METERS OF STRIKE
LENGTH AT THE NIKOLAI NICKEL PROJECT, ALASKA
HIGHLIGHTS
• Alaska Energy Metals has received results for two additional diamond drill holes
from its 2023 exploration program at Nikolai; in total, assay results for six drill holes
have been received and two remain pending.
• Assay results from drill hole EZ-23-004 returned the following downhole
intersection: 317.2 meters (m) @ 0.34% Nickel Equivalent (“NiEq”) (0.23% Ni,
0.08% Cu, 0.02% Co, 0.109 g/t Pd, 0.049 g/t Pt and 0.012 g/t Au). The Core Eureka
Zone, included in the intersection above, graded 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). EZ-23-004 was collared approximately 560m southeast of EZ-23-002.
• Assay results from drill hole EZ-23-006 returned the following downhole
intersection: 192.5m @ 0.30% NiEq (0.21% Ni, 0.05% Cu, 0.02% Co, 0.078 g/t Pd,
0.039 g/t Pt and 0.012 g/t Au). EZ-23-006 was collared approximately 300 meters
northwest of EZ-23-002.
• The results from holes EZ-23-002, EZ-23-004, & EZ-23-006 confirm the consistency of
mineralization spanning 860m of strike length along the Eureka Zone. The
mineralization remains open in all directions.
Alaska Energy Metals President & CEO Gregory Beischer commented: “These two holes
further increase the drilled strike extent of the Eureka Zone to 860m. With results from the
remaining two drill holes anticipated soon, we can begin calculating an updated Inferred
Resource and complete metallurgical studies. Drilling results are consistent with historical drill
holes, which intermittently trace out a strike extent of more than 10 kilometers for the
mineralized zone. The nickel–copper sulfide mineralization is remarkably homogeneous.”
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Intersection of 317.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 2
VANCOUVER, BRITISH COLUMBIA, December 5, 2023 – 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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Intersection of 317.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 3
SUMMARY
• These new results further demonstrate the Eureka Zone remains consistent and
homogeneous, as indicated by historical drilling on the property.
• EZ-23-004 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.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Intersection of 317.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
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
Intersection of 317.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 5
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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Intersection of 317.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 6
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.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Intersection of 317.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 7
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.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Intersection of 317.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 8
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.