Breaking Mining News:
Alaska Energy Metals (TSXV: $AEMC.V) (OTCQB: $AKEMF) Provides Corporate Update;
@AKEnergyMetals
VANCOUVER, British Columbia - January 30, 2024
(Investorideas.com Newswire) Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) ("AEMC" or the "Company") is
pleased to provide a corporate update that highlights the accomplishments made
since inception in April 2023 and looks ahead to 2024 plans.
Read this news featuring AEMC in full
at https://www.investorideas.com/news/2024/01301AEMC-Corporate-Update.asp
Alaska Energy Metals Corporation
President & CEO Gregory Beischer commented: "I am very proud
of what we have accomplished in just 10 months. We've successfully rebranded
and recapitalized the Company; no small feat given challenging market conditions.
For our Nikolai Nickel project in Alaska, we purchased a large database of
historical information, calculated a significant maiden nickel resource, and
identified drill targets to test for high-grade mineralization. With all our
2023 drill results now in hand, we will soon publish an updated Mineral
Resource Estimate for the Eureka Zone and will receive bench-scale
metallurgical test results. With an aggressive drilling program planned at
Nikolai in 2024, we believe we will significantly expand the Nikolai Project's
metal inventory. Last year, we also purchased a company that owns a Quebec
nickel project, which came with $2.8 million in cash. We have assembled a very
strong team and are now executing a comprehensive market awareness program to
position us for the next phase of the Company's growth."
Company Progress:
- Renamed and refocused the company as a nickel
explorer centered around two key projects in North America: the flagship
Nikolai Nickel project in Alaska, USA, and a secondary project in Quebec,
Canada.
- With the assistance of a strong capital
markets group, brought in more than $15 million into the Company treasury
during very challenging market conditions.
- Purchased an extensive database of exploration
information at a bargain price, then recovered a portion of the cost by
selling some of the information to a neighbouring claim owner. The
dataset, created by prior workers from 1995 to 2012, contains geological,
geochemical, geophysical, and drilling information costing tens of
millions of dollars. This purchase allowed the Company to accelerate its
exploration objectives at very low cost.
- Drill hole information in the purchased
database allowed the Company to calculate a maiden Inferred Resource. To
date, two deposits situated approximately two kilometers (1.4 miles) apart
are included in the Mineral Resource Estimate (Nikolai
Mineral Estimate Technical Report - Document No. RPT 23706-0001. January
5, 2024, Stantec Consulting Services Inc.). Together the
deposits contain more than 680,000 tonnes (1.5 billion pounds) of nickel
with accessory copper, cobalt, chrome, iron, platinum, palladium, and
gold. The Company considers this Mineral Estimate to be current. Please
refer to the press releases dated January 5,
2024.
- Safely and efficiently executed a drilling
program consisting of eight diamond drill holes totaling 4,138 meters
(13,576 feet) of core at the Eureka Zone of the Nikolai project. The
Company has published results that show strike continuity of 1.2
kilometers (3,900 feet) of a mineralized zone ranging between 200 meters
(650 feet) to more than 300 meters (980 feet) true width. Assay results
indicate a consistent and homogenous grade of about 0.34% nickel
equivalent metal. The Eureka Zone is open in all directions and historical
drilling and sampling indicates the potential for the zone to extend 12
kilometers (7.5 miles) or more.
- Performed specialized geophysical surveys to
successfully identify high-priority drill targets at the Canwell block of
the Nikolai project where high grades of nickel, copper and platinum group
elements were sampled at surface.
Looking Forward:
In 2024, we look forward to the
following:
- We plan to calculate and publish, through a
third-party, industry-leading, independent mining consulting firm, an
update to the Mineral Resource Estimate that includes information from the
AEMC 2023 drill program. We aim to publish the update in Q1 2024.
- Drill core samples have been submitted for
metal deportment studies to determine the mineral species in which the
various metals in the Eureka zone are contained. Deportment will have a
strong bearing on metal recovery rates. Results are expected in Q1 2024.
- After deportment studies are complete, the
samples will be subjected to bench-scale flotation testing to determine
recovery rates for the metals. Results are expected in Q2 2024.
- We have built a strong marketing team that
will work to increase market awareness of the Company around the world, so
that we can maximize shareholder returns as we advance Company objectives.
- We intend to raise funds through equity
financing to execute an aggressive drilling program designed to
significantly expand the Mineral Resource Inventory of the Eureka Zone and
to explore for high grade nickel mineralization at the Canwell Block of
the Nikolai project.
- Plans are being made to begin exploration at
the Angliers-Belleterre project in Quebec.
Investor Relations and Market
Awareness:
Further to the Company's news release
dated January 23, 2024, the Company clarifies with respect to the renewal of
its marketing engagement of Gold Standard Media, LLC ("Gold
Standard"), that the affiliates of Gold Standard's share position in AEMC
was inadvertently incorrectly stated. The affiliates of Gold Standard currently
own 4,285,582 AEMC Shares. In addition, the engagement of Triomphe Holdings
Ltd. dba Capital Analytica ("Capital Analytica") is for an initial
term of three months with the possibility of renewing for an additional
three-month term on the same terms as the initial term, not an initial
six-month term with a six-month renewal option. For more information on these
marketing engagements, please refer to the Company's news release
dated January 23, 2024.
Stock Option Grant:
The Company's Board of Directors has
approved a grant of stock options to officers, directors, employees and
consultants. In total 3,175,000 options are to be granted with a strike price
equal to the market closing price on January 30, 2024. The stock options will
have a term of five years.
Qualified Person
Gregory Beischer, the Company's president and chief executive officer, is the
qualified person, as defined under National Instrument 43-101 Standards of
Disclosure for Mineral Projects, responsible for, and having reviewed and approved,
the technical information contained in this news release.
About Alaska Energy Metals
Alaska Energy Metals Corporation is
focused on delineating and developing a large polymetallic exploration target
containing nickel, copper, cobalt, chrome, iron, platinum, palladium, and gold
at the Nikolai Nickel Project. Located in central Alaska near existing
transportation and power infrastructure, the project is well-situated to become
a significant, domestic source of critical and strategic energy-related metals
for the American market. Additionally, the company is exploring the Angliers
Nickel Project in Western Quebec.
ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE
CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164
Sarah Mawji, Public Relations
Final Edit Media and Public Relations
Email: sarah@finaleditpr.com
Some statements in this news release
may contain forward-looking information (within the meaning of Canadian
securities legislation), including, without limitation, that it will drill
holes to test the Canwell, Odie and Emerick prospects and do more geophysical
surveys in 2024. These statements address future events and conditions and, as
such, involve known and unknown risks, uncertainties, and other factors which
may cause the actual results, performance, or achievements to be materially
different from any future results, performance, or achievements expressed or
implied by the statements. Forward-looking statements speak only as of the date
those statements are made. Although the Company believes the expectations
expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward-looking
statements. Factors that could cause the actual results to differ materially
from those in forward-looking statements include regulatory actions, market
prices, and continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking
statements. Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are made.
Except as required by applicable law, the Company assumes no obligation to
update or to publicly announce the results of any change to any forward-looking
statement contained or incorporated by reference herein to reflect actual
results, future events or developments, changes in assumptions, or changes in
other factors affecting the forward-looking statements. If the Company updates
any forward-looking statement(s), no inference should be drawn that it will
make additional updates with respect to those or other forward-looking
statements.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this press release.
Alaska Energy Metals Corporation (TSXV: AEMC)
(OTCQB: AKEMF) (FRA: V7F) is a featured mining stock on Investorideas.com
More info on AEMC at Investorideas.com Visit: https://www.investorideas.com/CO/AEMC/
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