Projects

The Nikolai Project

Located in Interior Alaska, the Nikolai project is a sulphide nickel and battery metal project which hosts a NI 43-101 compliant Mineral Resource Estimate, with an Indicated Resource of 3.9 billion pounds of nickel and an Inferred Resource of 4.2 billion pounds of nickel. It also has exploration potential for the discovery of high-grade Ni-Cu-PGE massive sulphide mineralization

Resource Overview

Nikolai's Location

The Nikolai project is located 80 kilometers (50 miles) south of the town of Delta Junction, 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 (125 miles)  to the northwest. The city of Delta Junction has many services and amenities that support the Alaska mining community. The main Alaska power line and railway lie 100 kilometers (62 miles) to the west along the Denali Highway.

Project Highlights

Experienced Alaskan Management Team

Led by Alaskan Greg Beischer, a seasoned exploration geologist and executive, and supported by a technical team of fellow Alaskans, the company possesses a skilled and experienced management group capable of diligently executing complex exploration programs.

A Domestic Source of Nickel for an Electric Energy Expansion

The Nikolai project offers the potential to become a significant, secure, domestic source of nickel, aligning with the increasing demand for nickel in an electric energy transition.

Drilling has confirmed a large accumulation of Nickel

Recently completed (2023) and historical drilling results have confirmed the presence of a substantial Mineral Resource Estimate containing nickel, copper, cobalt, platinum, palladium, and gold.

Near-Term Drilling And Resource Calculation Catalysts

Planned 2024 program has potential to expand the Eureka deposit and increase the grade. There is potential for an exploration discovery of Ni-Cu-PGE massive sulfides at the Canwell Prospect.

Strong Financial Backing

Working with Commodity Partners of Vancouver, Canada, the company has secured quality financial backers, ensuring a well-capitalized position. A robust marketing presence will be utilized to increase awareness of the company and its project among investors.

Favorable Jurisdiction and Infrastructure

Operating in Alaska (a tier-1, pro-resource jurisdiction) provides a favorable regulatory environment and stability for mining operations. The project benefits from a favorable infrastructure setup, paved highways traversing the project area, gravel road access, and proximity to main rail and grid power systems.

In-Depth Presentation

Nikolai Project Presentation

Sulphide nickel and battery metal project hosting an Indicated Resource of 3.9 billion pounds of nickel and an Inferred Resource of 4.2 billion pounds of nickel.

The Nikolai project holds promising potential as a large, reliable, domestic source of nickel for the ongoing energy transition. Recently completed (2023) and historical drilling results have confirmed the presence of a substantial Mineral Resource Estimate containing nickel, copper, cobalt, platinum, palladium, and gold.

Based on drilling results, mineralization is open in all directions and requires additional drilling to increase the confidence and to expand the Mineral Resource Estimate along strike and at depth. Our goal is to achieve these milestones by Q1 2025.

Located in a tier-1, pro-resource jurisdiction

Alaska is a state built on resource development with a thorough and fair permitting process.

Additionally, 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 A Team of Alaskans That Understands Responsible Resource Development

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 Deposit

Updated NI 43-101 compliant Mineral Resource Estimate, effective 12 February 2024, contains:

  • Indicated mineral resources of 3.877 billion pounds (1.758 million tonnes) of nickel, 1.276 billion pounds (578,783 tonnes) of copper, and 303 million pounds (137,438 tonnes) of cobalt, plus a total of 4.0 million ounces of platinum, plus palladium and gold in a constrained model totaling 813 million tonnes, at an average grade of 0.29% total NiEq, using a 0.20% NiEq cut-off grade
  • Inferred mineral resources of 4.225 billion pounds (1.916 million tonnes) of nickel, 1.040 billion pounds (471,736 tonnes) of copper, and 327 million pounds (148,324 tonnes) of cobalt, plus a total of 3.4 million ounces of platinum, plus palladium and gold in a constrained model totaling 896 million tonnes, at an average grade of 0.27% total NiEq, using a 0.20% NiEq cut-off grade

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.

The Canwell Property

Exceptionally high-grade Ni-Cu-PGE surface showings, with limited, shallow drilling on prospects. 2023 reconnaissance sampling confirmed the historical surface sample results at several high-grade Ni-Cu-PGE prospects. Coincident anomalies of magnetic susceptibility, Time-domain Electromagnetic (TEM) and Controlled source audio-frequency magnetotelluric (CSAMT) occur at four of the prospects: Canwell, Odie, Glacier Lake and Emerick. AEMC is planning a 2024 drilling campaign to drill test all four these prospects.

Project Target

The Nikolai project hosts Ni-Cu-Co-Cr-PGE mineralization.

Several deposit types are possible:

  1. Disseminated Ni-Cu-Co-Cr-PGE mineralization in serpentinized ultramafic rocks (analogy = Crawford deposit, Canada)
  2. Massive sulfide Ni-Cu-PGE mineralization (analogy = Norilsk Mine, Russia)
  3. Remobilized high-grade Ni-Cu-PGE mineralization
  4. Volcanogenic Massive Sulfide (VMS – Besshi style) Cu (Zn-Pb) Au, Ag (analogy = Windy Craggy deposit, Canada)

Land Status

Two separate, adjacent claims blocks encompass the Nikolai project.

The Eureka claim block consists of 106 State of Alaska mining claims (6,863 hectares) and is 100% owned by Alaska Energy Metals.

The Canwell claim block consists of 59 State of Alaska mining claims (3,820 hectares), with an option to purchase 100% interest in the claims from the underlying owner.

In total, the project covers 106.83 km2 (10,683 hectares).

Geology and Mineralization

The project is located within the underexplored Wrangellia Terrane of 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

With the completion of the 2023 exploration program, AEMC was successful in delineating a NI 43-101 compliant Mineral Resource Estimate, effective 12 February 2024, which hosts an Indicated Resource of 3.9 billion pounds of nickel and an Inferred Resource of 4.2 billion pounds of nickel.  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. The planned 2024 drill program (7,300 meters) will drill test this higher-grade core zone to the southeast, along with increasing the confidence in the resource by converting Inferred to Indicated Resource.

Reconnaissance work in 2023 resulted in the definition of four high-grade Ni-Cu-PGE prospects (Canwell, Odie, Glacier Lake and Emerick) that warrant drilling. The proposed 2024 drilling program encompasses 3,000 meters of drilling to test these prospects.

In-Depth Presentation

Nikolai Project Presentation

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