Alaska Energy Metals (TSX-V: AEMC) has reported encouraging results from locked-cycle flotation testing on drill core from the Eureka deposit at its Nikolai Project in Alaska, recovering 49.4% of nickel into a bulk flotation concentrate, according to a report by Mining.com.au dated July 18, 2026. Testing conducted on material from Core Eureka Zone 2 also achieved recoveries of 50.5% for copper and 21% for cobalt. Precious metal recoveries were recorded at 49.1% for platinum, 43.1% for palladium, and 43.9% for gold.
The resulting concentrate graded 7.22% nickel, 4.01% copper, 0.30% cobalt, 2.33 grams per tonne platinum, 4.10 g/t palladium, and 0.78 g/t gold. Approximately 506 grams of concentrate were recovered, representing 1.68% of the total material processed. The feed material used in the test graded 0.26% nickel, 0.13% copper, 0.03% cobalt, 0.16 g/t palladium, 0.08 g/t platinum, and 0.03 g/t gold.
The composite was prepared from drill core modelled to represent the average grade of the Eureka deposit based on its 2025 mineral resource estimate. Chief Executive Officer Gregory Beischer described the results as a meaningful step forward for the project's economic evaluation. "We now know the metals present in the Nikolai deposit are recoverable at robust rates," Beischer stated.
The company also noted that optimisation testing indicated desliming was unnecessary, a finding that could potentially simplify the proposed processing flowsheet by eliminating one stage entirely. Further locked-cycle tests are currently underway following open-cycle work that suggested scope to improve both recoveries and concentrate grades. Results from these additional tests are expected in early August.
In a separate development, concentrate samples will be sent to Lifezone Metals (NYSE: LZM) to evaluate their suitability for hydrometallurgical refining. Alaska Energy Metals noted that successful on-site refining could increase metal payability and reduce dependence on external smelting, though it would require additional capital investment. The company intends to complete an internal economic analysis before deciding whether to commission a preliminary economic assessment for the Nikolai Project.
The Nikolai Project is a polymetallic asset hosting nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold mineralisation, positioning Alaska Energy Metals at the intersection of battery materials and precious metals demand. Source: Mining.com.au, authored by France Pinzon, July 18, 2026.
Source: mining.com.au