The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
North of 60 Mining News - December 11, 2024
Alaska Energy Metals has traced nickel-copper-cobalt-PGM-chromium mineralization for roughly 4.5 miles along the at least 10-mile-long Eureka Zone at Nikolai.
Alaska Energy Metals Corp. Dec. 10 announced the results from two additional holes drilled this year that will likely result in a roughly 33% extension to the length of the 8.1-billion-pound Eureka nickel deposit on the company's Nikolai project.
According to a calculation completed in February, Eureka hosts 813 million metric tons of indicated resource averaging 0.22% (3.88 billion lb) nickel, 0.07% (1.28 billion lb) copper, 0.02% (303 million lb) cobalt, and 0.15 grams per metric ton (4.03 million oz) palladium-platinum-gold; plus 896 million metric tons of inferred resource averaging 0.21% (4.23 billion lb) nickel, 0.05% (1.04 billion lb) copper, 0.02% (327 million lb) cobalt, and 0.12 g/t (1.34 million oz) palladium-platinum-gold.
This large deposit of disseminated nickel sulfide mineralization extends for roughly 3.4 miles (5.5 kilometers) along the roughly one-mile- (1.6 kilometers) wide Eureka zone. Alaska Energy Metals anticipates that the four holes drilled this year, coupled with previous drilling, will provide enough drill density to extend the deposit an additional 1.1 miles (1.8 kilometers to the southeast.
The ability to rapidly expand the Eureka resource with relatively wide-spaced drilling is due to the incredible consistency of the mineralization encountered in each hole – providing resource estimators with confidence in the homogeny between holes.
The consistency was demonstrated in the results reported last week from two step-out holes to the southeast of the deposit. Highlights from these previously reported holes with grades nearly identical to the overall resource include:
• 308.2 meters averaging 0.21% nickel, 0.08% copper, 0.02% cobalt, 0.09 g/t palladium, 0.04 g/t platinum, 0.02 g/t gold, 0.3% chromium and 9.6% iron from a depth of 53.9 meters in hole EZ-24-009.
• 337.4 meters averaging 0.22% nickel, 0.07% copper, 0.02% cobalt, 0.1 g/t palladium, 0.04 g/t platinum, 0.01 g/t gold, 0.32% chromium, and 10% iron from a depth of 45.7 meters in hole EZ-24-010.
The final two holes, which were drilled roughly 750 meters further southeast, cut nearly identical grades. Highlights from the last drill results include:
• 107.5 meters averaging 0.22% nickel, 0.05% copper, 0.02% cobalt, 0.06 g/t palladium, 0.03 g/t platinum, 0.01 g/t gold, 0.27% chromium, and 10.1% iron from a depth of 10.4 meters in hole EZ-24-011.
• 330.9 meters averaging 0.2% nickel, 0.07% copper, 0.02% cobalt, 0.09 g/t palladium, 0.04 g/t platinum, 0.01 g/t gold, 0.28% chromium, and 9.5% iron from a depth of 18.1 meters in hole EZ-24-012.
Alaska Energy Metals anticipates that the Eureka Zone expansion drilling completed this year will add significant tonnage and metals to an updated resource slated for completion early in 2025.
Gabe Graf, the company's chief geologist, says China's recent ban on the exports of gallium, germanium, and antimony to the United States underscores the need to explore and develop Nikolai and other projects with the potential to provide domestic sources of minerals critical to clean energy and the wider American economy.
"Trade relations with China are uncertain, and should we face another more disruptive mineral ban, it could further stunt economic growth and development and even compromise national security," he said. "Thus, we remain steadfast in our efforts to uncover a domestic supply of nickel, cobalt, chromium, and other critical and energy-related metals essential to a growing number of strategic industries to ensure access to materials of great importance for the long haul."
The Eureka Zone extends for at least 10 miles (16 kilometers) along strike and the deposit outlined so far remains open to the northwest, southeast, and to depth.
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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