Alaska Energy Metals files updated technical report for Nikolai Nickel Project

Highlights of the Updated Eureka Technical Report and MRE include:

• The Eureka West and Eureka East deposits reported in the maiden 2023 MRE are now connected as one deposit measuring 4.5 km in length.
• A significant portion of the Eureka MRE has been upgraded from Inferred to Indicated Resource. The Indicated Resource contains:
  • 813 million t grading 0.29% NiEq containing:
  • 1.758 million t of nickel
  • 578 783 t of copper
  • 137 438 t of cobalt
  • 4 million oz of platinum, plus palladium and gold
• The Inferred Resource increased from 319.6 million t to 896 million t. The Inferred Resource contains:
  • 896 million t grading 0.27% NiEq containing:
  • 1.916 million t of nickel
  • 471 736 t of copper
  • 148 324 t of cobalt
  • 3.4 million oz of platinum, plus palladium and gold
• A higher-grade core, present over the southeastern half of the deposit, has been clearly confirmed and identified. The higher-grade core is open to the southeast, and the company has plans to drill test this zone in 2024.
• As a consequence of joining the two deposits together, the strip ratio has been reduced from 3.7:1 to 1.5:1.
• Three parallel zones of mineralisation are identified (EZ1, EZ2, and EZ3).
• Chrome and iron have been identified as potentially significant co-products of mineralisation at the Eureka deposit. AEMC will continue to evaluate the potential to produce a ferrochrome (FeCr) product through ongoing metallurgical testing currently in progress.

Alaska Energy Metals President and CEO Gregory Beischer commented: “It was fortunate that the spacing of the eight holes we drilled in 2023 allowed us to include 35 other holes that were drilled historically. This, in turn, allowed our consultant, Stantec, to produce a larger-than-expected Mineral Resource Estimate update. We now have a very substantial nickel deposit with a higher-grade core that could be mined early with a 0:1 strip ratio. This feature will be important for project economics. The deposit is open in all directions and the higher-grade zone, which projects to the southeast, will be drill tested during our planned 2024 drill programme. So far, our discovery-exploration cost amounts to about one-tenth of a cent per pound of nickel discovered. This is a very good result for the funds entrusted to us by our shareholders.”

Read the article online at: https://www.globalminingreview.com/mining/21032024/alaska-energy-metals-files-updated-technical-report-for-nikolai-nickel-project/