The Nikolai Project
Located in Central Alaska, the Nikolai project is a sulphide nickel and battery metal project with a multi-billion pound nickel potential.
The Nikolai project is located 40 km northwest of the village of Paxson, on the southern flank of the Alaska Range. The claims are proximal to paved highways and a network of gravel roads and trails afford ready access to the Canwell claim block.
The City of Fairbanks lies approximately 200 kilometers to the northwest. The city of Delta Junction lies 130 kilometers to the north of the project and has many services and amenities that support the Alaska mining community. The main Alaska power line and railway lie 100 kilometers to the west along the Denali Highway.
Nikolai Project Presentation
Sulphide Nickel and battery metal project with a multi-billion pound potential
The Nikolai project holds promising potential as a large, reliable, domestic source of nickel for the ongoing energy transition. Based on historical drilling, there are strong indications of a significant nickel deposit, along with other valuable metals.
By conducting an initial drilling program scheduled for completion by Fall 2023, we aim to establish a maiden Inferred Resource. If the historic concentrations are confirmed, the resource is expected to surpass one billion pounds of contained nickel. Our goal is to achieve this milestone by Spring 2024.
Located in a tier-1, pro-resource jurisdiction
Alaska, a pro-resource development state, has an efficient permitting process. While federal permitting for mining projects in Alaska can be complex and politically influenced. However, the federal government is supportive of transitioning to electrical energy and recognizes the need for secure, domestic supplies of critical and strategic metals like nickel and cobalt. Independent analysis shows Alaska’s competitive taxation rates and high evaluations in mining jurisdiction assessments.
Led By An Alaska-based Team That Understands exploration
Led by Greg Beischer, a geologist and mining engineering technologist with over 30 years of experience, our company benefits from his expertise in magmatic nickel deposit exploration. Previously, as the head of Millrock Resources, Mr. Beischer successfully raised over US$50 million for exploration projects, often through partnerships with major mining companies.
Key staff from Millrock have joined Alaska Energy Metals Corporation, forming a skilled team of exploration geologists and support staff who excel in executing mineral exploration projects in Alaska.
Focused On A Metal Required For The Future
Nickel, primarily used in stainless steel, plays a crucial role as a cathode in rechargeable batteries, including those used in cell phones, power tools, and electric vehicles.
With the rapid global adoption of electric vehicles, the demand for nickel is growing swiftly.
To ensure a stable supply, America seeks domestic sources, and Alaska Energy Metal’s project holds the potential to meet a significant portion of the country’s metal needs for the energy transition.
The Eureka Zone
Identified a zone of mineralization (1700m x 600m x 300m) that contains potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold.
Additionally, Alaska Energy Metals postulates that higher-grade mineralization may occur in embayment features at the base of the Eureka Zone, where heavy metals may accumulate during fractionation and crystallization of the ultramafic intrusion.
Further drilling is warranted to confirm this hypothesis, along with in-fill drilling on the identified zone of mineralization with the goal of defining a NI 43-101/JORC compliant resource.
The Canwell Prospect
Exceptionally high-grade surface showings. Limited drilling on prospects. Very little exploration has been done and receding glaciers exposing more all the time.
Best Historic Drill Intersection: CAN-01: 5.2m @ 1.59% NiEq (0.71% Ni, 0.54% Cu, 0.017% Co, 0.234 g/t Au, 0.746 g/t Pt & 0.853 g/t Pd)
Summer 2023: Rock and soil sampling and ground geophysical surveys to position for a Summer 2024 drilling campaign. The expected budget is $1M.
The Nikolai project hosts Ni-Cu-Co-Cr-PGE mineralization.
Several deposit types are possible:
- Disseminated Ni-Cu-Co-Cr-PGE mineralization in serpentinized ultramafic rocks (analogy = Crawford deposit, Canada)
- Massive sulfide Ni-Cu-PGE mineralization (analogy = Norilsk Mine, Russia)
- Remobilized high-grade Ni-Cu-PGE mineralization
- Volcanogenic Massive Sulfide (VMS – Besshi style) Cu (Zn-Pb) Au, Ag (analogy = Windy Craggy deposit, Canada)
Two separate, adjacent claims blocks encompass the Nikolai project.
The Eureka claim block consists of 104 State of Alaska mining claims (6,734 hectares) and is 100% owned by Alaska Energy Metals.
The Canwell claim block consists of 42 State of Alaska mining claims (2,720 hectares), with an option to purchase 100% interest in the claims from the underlying owner. In total, the project covers 94.54 km2 (9,454 hectares).
Geology and Mineralization
The project is located within the underexplored Wrangellia Terrane of Central Alaska. A characteristic component of this terrane is the Nikolai Greenstone, an extensive sequence of low-grade metamorphosed Late Triassic flood basalt rocks. Mafic and ultramafic intrusions, the source for the Nikolai Greenstone, along with Permian and Cretaceous felsic plutons, intruded Permian volcanic and volcaniclastic rocks. Wrangellia holds high potential for the discovery of economic magmatic sulfide deposits containing nickel, copper, cobalt, platinum, palladium, iridium, rhodium, osmium, ruthenium, gold, silver, lead, and zinc. Past producing mines and known deposits within the Wrangellia include Kennecott Copper Mines, Windy Craggy, Wellgreen-Nickel Shaw, and White River.
After an initial discovery by Inco Ltd., in 1997, drilling by Pure Nickel Inc. and ITOCHU Corporation, between 2008 and 2013, resulted in the discovery of a >15km mineralized corridor (Eureka Zone) of disseminated Ni-Cu-PGE mineralization associated with serpentinized mafic and ultramafic rocks. Other exploration targets include massive sulfide Ni-Cu-PGE mineralization associated with mafic dikes cross-cutting the ultramafic sequence and remobilized high-grade Ni-Cu-PGE mineralization associated with Cretaceous intrusions. Additionally, Cu-Pb-Zn-Au-Ag mineralization has been discovered in volcaniclastic rocks that may be associated with volcanic massive sulfide mineralization.
Upcoming Exploration Program
Alaska Energy Metals has identified a zone of mineralization (1700m x 600m x 300m) at the Eureka Zone that contains potentially economic concentrations of nickel, copper, cobalt, platinum, palladium, and gold. Additionally, Alaska Energy Metals postulates that higher-grade mineralization may occur in embayment features at the base of the Eureka Zone, where heavy metals may accumulate during fractionation and crystallization of the ultramafic intrusion. Further drilling is warranted to confirm this hypothesis, along with in-fill drilling on the identified zone of mineralization with the goal of defining a NI 43-101/JORC compliant resource.
A complete data review of the Canwell claims is underway. Based on the results of this review, targets will be ranked based on current data. Additional geochemical and geophysical techniques may be conducted to prioritize drilling targets.