Breaking Mining News: Alaska Energy Metals (TSXV: $AEMC)
(OTCQB: $AKEMF) Secures Option to Acquire the Bambino Nickel - Copper Property
and Commences Exploration Programs on Its Quebec Properties; @AKEnergyMetals
Highlights
- The Bambino property is adjacent to AEMC's Angliers-Belleterre
claim block and constructively adds to the property position.
- The combined claims are underlain by thick basalt flow interlayered
with gabbro sills and komatiite flows in a regional setting thought to
include a mantle plume, and prospective for Kambalda or Raglan-style
high-grade nickel mineralization.
- Significant copper-nickel-PGE prospects Midrim and Alotta, held by
Pivotal Metals Ltd.2, are located on adjacent claims.
- AEMC's exploration program is fully funded and will commence
immediately. The program consists of approximately 4,000 soil samples,
prospecting and a VTEM electromagnetic survey.
VANCOUVER, British Columbia - May 22, 2024
(Investorideas.com Newswire) Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) ("AEMC" or the "Company") is
pleased to announce it has entered into an agreement (the "Option
Agreement"), pursuant to which it will be granted an option to acquire
100% interest in the 57-claim, 3,320-hectare Bambino nickel ("Ni") -
copper ("Cu") platinum group element ("PGE") property (the
"Property") located in the Temiscaming Region of western Quebec, from
a Quebec prospecting syndicate (the "Vendors"). The Property is
located directly adjacent to the Company's 100%-owned Angliers-Belleterre
(Angliers) property acquired in 20231 (Figure 1).
This
news is paid advertisement/ news disseminated on behalf of/issued on behalf of
Alaska Energy Metals
Read this news, featuring AEMC in
full at https://www.investorideas.com/news/2024/05221AEMC-Bambino-Nickel-Quebec.asp
"Our Nikolai nickel project in
Alaska, which hosts the Eureka deposit, already contains one of the largest
known nickel resources in the US. We intend to acquire Bambino so that we can
further expand our contribution of nickel and other strategic metals to the
rapidly growing lithium-ion battery industry and also the long-term energy
storage industry in North America," says
Gregory Beischer, CEO of Alaska Energy Metals. "We are excited and
ready to begin exploration in Quebec as we know these projects could further
position AEMC as a leading producer of critical minerals in the North American
market at a time when these commodities are going to be in even higher demand
than they are today."
Figure 1: Location of AEMC's Angliers and Bambino
Claims
BAMBINO PROPERTY
The Bambino property covers the southern portion of the western segment of the
Belleterre-Baby-Angliers Greenstone Belt and is predominately underlain by
mafic volcanic rocks intruded by mafic to ultramafic sills. The volcanic
stratigraphy includes thick layers of pillowed and subordinate massive basalt
flows overlain by volcaniclastic sediments that are both interlayered with
gabbro sills and komatiite flows. Mineralization in the area is primarily
hosted or spatially related to the gabbro sills as: a) primary magmatic sulfide
Ni+Cu±PGE mineralization (disseminated to massive sulfides), b) remobilized hydrothermal
Cu+PGE mineralization (sheared sulfides) and c) volcanogenic, disseminated
pyrite mineralization in tuffaceous rocks. The mineralization is thought to be
related to a mantle plume in a geological setting analogous to Kambalda in
Western Australia and Raglan in Northern Quebec.
On the adjacent BAGB property held by
Pivotal Metals Ltd.2, previous drilling at the Alotta and Midrim
showings has returned significant intersections of high-grade Cu-Ni-PGE massive
sulfide mineralization at shallow depths (Figure 2). Bambino has seen minimal,
prior exploration work consisting only of regional airborne surveys and limited
soil geochemistry. The Property has gold potential, demonstrated by the
presence of many quartz veins on the property; however, no assurance can be
given that assay results similar to those at the BAGB property will be obtained
at the Bambino property. The Belleterre-Baby-Angliers Greenstone Belt is best
known for the past producing Belleterre gold mine located approximately 50 km
east of Bambino. Vior Inc. recently consolidated the area surrounding the
former mine and is finalizing plans for a +60,000m drill program.3
Figure 2: Bambino Claims: Airborne Total Magnetic
Field, mineral showings, and selected drill intersections on adjacent Pivotal
Metals Ltd. Claims 2
TERMS OF AGREEMENT
Under the Option Agreement, AEMC will have the exclusive option to acquire a
100% interest in the Bambino Property by paying $105,000 cash and issuing
700,000 common shares of AEMC to the Vendors and completing $500,000 of
exploration work, scheduled as annual installments over a three-year term. Upon
exercise of the option, the Vendors will retain a 2.0% Net Smelter Returns
royalty. AEMC will have the right at any time to buy back half of the royalty
(i.e., 1.0%) for $1,000,000 cash. The Option Agreement is subject to approval
by the TSX Venture Exchange.
EXPLORATION PROGRAM
AEMC intends to commence work immediately on the Angliers and Bambino claims
with property-wide soil geochemistry, prospecting, rock sampling surveys and an
airborne VTEM survey. The goal of this work is to identify anomalous zones to
follow up with Controlled Source Audio Magnetotellurics (CSAMT) and time-domain
electromagnetic geophysical surveys. The exploration program will be 100% funded
from AEMC's current flow-through account.
REFERENCES
- AEMC Press Release November 24, 2023, https://alaskaenergymetals.com/news/closes-acquisition-of-the-angliers-belleterre-project-in-quebec/
- Pivotal Metals Ltd. BAGB webpage, https://pivotalmetals.com/bagb/
- Vior Inc. Belleterre webpage, https://www.vior.ca/projects/belleterre-gold/
QUALIFIED PERSON
Gabriel Graf, the Company's Chief Geoscientist, is the qualified person, as
defined under NI 43-101 Standards of Disclosure for Mineral Projects,
and has reviewed and approved the scientific and technical information
contained in this news release.
For additional information,
visit: https://alaskaenergymetals.com/
ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with
offices in Anchorage and Vancouver working to sustainably deliver the critical
materials needed for national security and a bright energy future, while
generating superior returns for shareholders.
AEMC is focused on delineating and
developing the large-scale, bulk tonnage, polymetallic Eureka deposit
containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and
gold. Located in Interior Alaska near existing transportation and power
infrastructure, its flagship project, Nikolai, is well-situated to become a
significant domestic source of strategic energy-related metals for North
America. AEMC also holds a secondary project, 'Angliers-Belleterre,' in western
Quebec and the Bambino property, which is adjacent to the Angliers claim block.
Today, material sourcing demands excellence in environmental performance,
carbon mitigation, and the responsible management of human and financial
capital. AEMC works every day to earn and maintain the respect and confidence
of the public and believes that ESG performance is measured by action and led
from the top.
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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