Alaska Energy Metals announces significant increase in mineral reserve estimate for Nikolai project

Alaska Energy Metals has published a revised Mineral Resource Estimate for its Nikolai project, with the figures now significantly higher than previously announced. The North American mining company, which is exploring and developing mineral projects in the United States and Canada, is expecting to produce globally significant quantities of nickel along with numerous key metals under the project.

In less than two years, we have taken the Nikolai project from an exploration concept to a substantial deposit of nickel and multiple other critical metals.

Gregory Beischer, the company’s President and CEO and a veteran of the industry

Described by the operator as a sulphide nickel and battery metals project, Nikolai is located in the underexplored Wrangellia terrane in Interior Alaska, on the southern flank of the Alaska Range. The deposit contains large amounts of nickel as well as copper, cobalt, chromium, iron, platinum and palladium. Eighty kilometres to the north lies the city of Delta Junction, while the Denali Highway, home to Alaska’s main power line and railway, is 100 kilometres to the west.

The Mineral Resource Estimate is compliant with Canada’s NI 43-101 Standards of Disclosure for Mineral Projects and, as of March 2025, provides for indicated resources and inferred resources totalling several million tonnes of nickel, copper and cobalt, as well as multi-million-ounce quantities of platinum and palladium. These are based on a nickel equivalent (NiEq) cut-off grade of 0.065%.

Compared with previous estimates, the figures represent a substantial increase in both indicated and inferred resources. Additionally, the 2025 MRE saw the addition to the estimates of chromium and iron, further expanding the project’s resource base. Looking further ahead, a higher-grade core spanning over 2.5 kilometres in length has been confirmed in the southeastern half of the deposit, and could be mined in the early years of the project. Metallurgical studies and a Preliminary Economic Assessment are expected later in 2025. Additionally, the company aims to drill targets at the adjacent Canwell deposit this summer.

Following an initial discovery made by Inco Limited in 1997, drilling operations were carried out by ITOCHU Corporation and Pure Nickel Inc. from 2008 to 2013, leading to the discovery of the Eureka Zone, a mineralised corridor of over 15 kilometres containing disseminated Ni-Cu-PGE mineralisation associated with serpentinised mafic and ultramafic rocks. The Eureka deposit is marked by a low strip ratio, higher grade core at surface, and highly consistent, continuous and homogenous mineralisation.

The project is positioned to become a stable, domestic source of nickel and associated critical metals relevant to technologies enabling the energy transition. A cathode in rechargeable batteries, nickel is an important material for electric vehicles (EVs). Other minerals identified in the deposit, including the platinum group metals (PGMs) platinum and palladium, are also crucial components of several emerging green technology solutions, including as catalysts in hybrid electric vehicles.

The Nikolai nickel project consists of two separate claim blocks that are adjacent to each other. The Eureka claim block, comprising 6,863 hectares, is made up of 106 State of Alaska mining claims and is 100% owned by Alaska Energy Metals. The Canwell claim block represents 59 claims measuring 3,820 hectares – there is an option to purchase a 100% interest in these claims from the underlying owner. Alaska Energy Metals is listed on the TSX Venture Exchange (TSX.V:AEMC), headquartered in Calgary, Alberta and Vancouver, British Columbia, as well as the OTCQB mid-tier US-based OTC equity market (OTCQB:AKEMF), and the Frankfurt Stock Exchange (FRA:V7F). Nikolai is backed by Commodity Partners, a boutique merchant bank and advisory firm based in Vancouver.

Source: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/574-tsx-venture/aemc/176557-alaska-energy-metals-announces-major-increase-in-mineral-resource-estimate-nikolai-nickel-project-alaska-usa.html