Alaska Energy Metals Acquires Exploration Database for Nikolai Project
Alaska Energy Metals Corp. has announced its acquisition of an extensive exploration database that encompasses more than $30 million worth of exploration activities conducted since 1995 at the Nikolai nickel-copper-cobalt-platinum group metal project in Alaska.
The Nikolai project was initially discovered and explored by INCO Ltd. during the 1990s. Subsequently, Nevada Star Resources Ltd. took over the property, then known as MAN, and partnered with Anglo American (Canada) Ltd. for exploration efforts from 2004 to 2006. Over time, Nevada Star transitioned to Pure Nickel Inc. and formed a partnership with Japan-based Itochu Corp., which funded exploration activities at the project from 2008 to 2013.
The primary focus of historical exploration at Nikolai was centered on Eureka, a mineralization trend spanning approximately 10 miles (15 kilometers) and rich in nickel, copper, cobalt, and platinum group metals (PGMs). The property also includes the Canwell block, which has demonstrated potential for higher-grade deposits. Notably high grades of various metals, including nickel, copper, gold, platinum, palladium, osmium, iridium, ruthenium, and rhodium, have been reported from samples obtained from Canwell.
The complete Nikolai exploration dataset has been acquired by Alaska Energy Metals from Alaska Critical Metals, a private entity that had previously acquired it from Pure Nickel, in exchange for C$1.05 million in cash and an additional C$1 million worth of Alaska Energy shares.
Alaska Energy Metals President and CEO, Gregory Beischer, emphasized the immediate value of this acquisition, stating, "This data purchase will yield a substantial return on investment almost immediately. It covers a substantial amount of drilling, particularly within the Eureka Zone exploration target area, and will greatly accelerate our ongoing efforts."
Located near the Richardson Highway and about a 2.5-hour drive southeast of Fairbanks, the Nikolai project dataset comprises comprehensive information, including drill logs, assay data from all historical boreholes, results from various geophysical surveys (both airborne and ground-based), lidar surveys, and numerous soil and rock samples.
Alaska Energy Metals intends to promptly utilize the newly acquired data to enhance drill targeting. Beischer highlighted the significance of the geophysical survey data in guiding drilling programs towards areas with higher-grade mineralization, affirming that this step would provide immediate benefits to the company's exploration endeavors and its shareholders.
The company estimates that replicating the comprehensive exploration data would involve costs exceeding $40 million. However, the company's purchase cost for the dataset amounted to just around 5% of this potential expense, a fact that Beischer characterized as "a significant leap forward."
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