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Alaska Energy Metals Announces Major Increase In Mineral Resource Estimate, Nikolai Nickel Project, Alaska, USA
This new release constitutes a "designated news release" for the purposes of the Company's prospe...
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":"Alaska Energy Metals Announces Major Increase In Mineral Resource Estimate, Nikolai Nickel Project, Alaska, USA This new release constitutes a \"designated news release\" for the purposes of the Company's prospectus supplement dated January 31, 2025 to its short form base shelf prospectus dated November 1, 2024.HIGHLIGHTSThe Eureka deposit of the Nikolai project is a globally significant nickel resource with multiple accessory critical and strategic metals including copper, cobalt, chromium, platinum and palladium. It is the largest nickel resource in the USA. The deposit remains open in three directions and is well positioned to provide a reliable, long-life, secure domestic source of strategic and critical mineral resources in the USA.The updated resource now outlines 5.61 billion pounds of nickel with 1.77 billion pounds of copper (11.03 billion pounds nickel equivalent) in the Measured & Indicated category (a 46 percent (%) increase) and 9.38 billion pounds of nickel with 2.43 billion pounds of copper (17.98 billion pounds nickel equivalent) in the Inferred category (122% increase).Hallmarks of the Eureka deposit include a low strip ratio, higher grade core at surface, and highly consistent, continuous, homogenous mineralization. Metallurgical work continues and AEMC expects the deposit will respond well to processing using a conventional flow sheet methodology.Resource UpdateThe new Eureka deposit Mineral Resource Estimate (\"2025 MRE\") has increased the tonnage, metal content, and grade, relative to the 2024 Mineral Resource Estimate (\"MRE\"), dated February 12, 2024In situ Indicated resource contains 1,190 million tonnes at a grade of 0.30% NiEq (0.42% NiEq including chromium and iron), a 46% increase in tonnage.In situ Inferred resource contains 2,087 million tonnes at a grade of 0.28% NiEq (0.39% NiEq including chromium and iron), a 133% increase in tonnage.Chromium and iron have been included in the 2025 MRE. 7.88 billion pounds of chromium and 117 million tonnes of iron are added to the in situ Indicated resource. 12.29 billion pounds of chromium and 205 million tonnes of iron are added to the in situ Inferred resource.The Eureka Zone 2 (\"EZ2\"), within the Central Eureka deposit, contains an in situ Indicated resource of 818 million tonnes at a grade of 0.32% NiEq (0.44% NiEq with chromium and iron) and an in ...