Alaska Energy Metals Intersects 356.2 Meters Grading 0.34% Nickel Equivalent, Extending Mineralization Along Strike 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: 23-16
ALASKA ENERGY METALS INTERSECTS 356.2 METERS
GRADING 0.34% NICKEL EQUIVALENT,
EXTENDING MINERALIZATION ALONG STRIKE 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 four drill
holes have been received and four remain pending.
• Assay results from drill hole EZ-23-003 returned the following downhole
intersection: 324.6 meters (m) @ 0.34% Nickel Equivalent (“NiEq”) (0.23% Ni,
0.08% Cu, 0.02% Co, 0.119 g/t Pd, 0.053 g/t Pt and 0.013 g/t Au). EZ-23-003 was
collared approximately 250m southeast of EZ-23-001.
• Assay results from drill hole EZ-23-005 returned the following downhole
intersection: 356.2m @ 0.34% NiEq (0.22% Ni, 0.08% Cu, 0.02% Co, 0.122 g/t Pd,
0.057 g/t Pt and 0.014 g/t Au). EZ-23-005 was collared approximately 300 meters
northwest of EZ-23-001.
• The results from holes EZ-23-001, EZ-23-003, & EZ-23-005 confirm the consistency of
mineralization spanning 600m of strike length along the Eureka Zone. The
mineralization remains open in all directions.
Alaska Energy Metals President & CEO Gregory Beischer commented: “The Eureka Zone of
the Nikolai project in central Alaska is proving to be every bit as persistent, consistent, and
homogeneous as indicated by the historical drilling on the property. With our grid-pattern
drilling at 300-meter centers, we are quickly blocking out a large tonnage of rock mineralized
with nickel and other related metals. The current grid-drilled strike extent is approximately 600
meters, with an estimated true width of around 300 meters. Once we receive assay results from
the remaining four holes of the 2023 program our intention is to publish an Inferred Resource
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 356.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 2
VANCOUVER, BRITISH COLUMBIA, October 30, 2023 – Alaska Energy Metals Corporation
(TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) today announced assay results
from drill holes EZ-23-003 & EZ-23-005. 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 four holes
now received and results from four 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 356.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 3
SUMMARY
• These new results demonstrate the Eureka Zone continues to remain consistent and
homogeneous, as indicated by historical drilling on the property.
• EZ-23-003 was drilled ~250m southeast of EZ-23-001 and historical drill hole PNI-10-
036 to test mineralization continuity along strike to the southeast.
• EZ-23-005 was drilled ~300m northwest of EZ-23-001 and PNI-10-036 to test
mineralization continuity along strike to the northwest (Figure 2).
• The results from these holes have confirmed mineralization continuity along a 600m
strike length, with the mineralization remaining open in all directions.
To date, AEMC has received assay results for four 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 press release from
October 16, 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
Intersection of 356.2 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 356.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 5
HOLE EZ-23-003 SUMMARY
• EZ-23-003 drilled into 19.8m of overburden, and then into a poorly mineralized
gabbro from 19.8m to 149.5m. The gabbroic unit transitioned into a weakly
mineralized pyroxenite-rich unit from 149.5m to 230.1m.
• The main mineralized Eureka zone was intersected from 230.1 to 554.7m downhole,
with assays grading 324.6m (308.8m estimated true thickness) @ 0.34% NiEq
(0.23% Ni, 0.08% Cu, 0.02% Co, 0.31% Cr, 9.79% Fe, 0.119 g/t Pd, 0.053 g/t Pt and
0.013 g/t Au) (Table 1 and Figure 3).
• 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 554.7m to 588.9m (End of Hole).
• The mineralization is currently open in all directions from EZ-23-003.
Table 1. Significant Intersections from EZ-23-003 & EZ-23-005
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 356.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 6
Figure 3. Cross section through EZ-23-003. Location of section line A-A’ displayed on Figure 2. The Main
Eureka Zone (EZ2) has a higher-grade core of 0.41% NiEq over 78.3m thickness within an envelope of
lower grade (0.31-0.34% NiEq) metal concentration, for an estimated true width of 308.8m. 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 356.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 7
HOLE EZ-23-005 SUMMARY
• EZ-23-005 drilled into 13.1m of overburden, and then into a poorly mineralized
gabbro from 13.1m to 186.2m. Multiple late-stage porphyritic basaltic dikes were
intersected in this gabbroic unit from 72.0m to 105.2m. The gabbroic unit
transitioned into a weakly mineralized pyroxenite-rich unit from 186.2 to 252.2m.
• The Eureka zone was intersected from 252.2m to 608.4m downhole, with assays
grading 356.2m (334.0m estimated true thickness) @ 0.34% NiEq (0.22% Ni,
0.08% Cu, 0.02% Co, 0.33% Cr, 9.60% Fe, 0.122 g/t Pd, 0.057 g/t Pt and 0.014 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, and up to 10% disseminated sulfides
within the Core Eureka Zone 2.
• The hole did not intersect the lower pyroxenite intrusive phase seen in other 2023
drill holes and ended in the Lower Eureka Zone 2 mineralization.
• The mineralization is currently open in all directions from EZ-23-005.
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 356.2 Meters Grading 0.34%
Nickel Equivalent, Extending Mineralization
Page 8
Figure 4. Cross section through EZ-23-005. Location of section line B-B’ displayed on Figure 2. The Main
Eureka Zone (EZ2) has a higher-grade core of 0.41% NiEq over 91.3m thickness within an envelope of
lower grade (0.28-0.35% NiEq) metal concentration, for an estimated true width of 334.0m. Note: Chrome
and iron are reported in the drilled interval but are not included in the NiEq calculation.