Alexco Intersects 4.3 Meters (True Width) of 3,605 Grams Per Tonne Silver at Bermingham, Completes Underground Infill/Exploration Drill Program - iCrowdNewswire
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Sep 22, 2018 7:25 AM ET

Alexco Intersects 4.3 Meters (True Width) of 3,605 Grams Per Tonne Silver at Bermingham, Completes Underground Infill/Exploration Drill Program

Disclosure NewswireTM

iCrowdNewswire - Sep 22, 2018

VANCOUVER,  – Alexco Resource Corp. (NYSE American:AXU) (TSX :AXR ) today released results from fifteen drill holes which essentially completes the 2018 resource infill and extension drilling campaign at the high grade Bermingham deposit in the Keno Hill Silver District in Canada’s Yukon Territory. The existing Bermingham resource comprises an indicated 858,000 tonnes averaging 628 grams per tonne (“g/t”) silver (“Ag”), containing 17.3 million indicated ounces of silver. A total of approximately 8,600 meters (“m”) of underground and surface drilling was completed at Bermingham in 2018. Results from this work will be included in an updated Bermingham resource estimate to be completed prior to month end. 

Highlights

In the 2018 program, 24 holes were completed underground from the Bermingham exploration decline and 12 holes completed from surface for a total of  8,582 m of HQ diamond core drilling that includes five holes (620 m) that were abandoned, and three holes for which assays are not yet available. This release summarizes the results from eleven underground and four surface drill holes completed for 4,243 m for which assays are available. Overall, the drill holes were designed primarily to provide infill intercepts at spacings of 10 – 15 m centers in order to demonstrate geological and grade continuity in the upper levels of the planned mine development on the high-grade Bear Vein indicated resource, and to also intersect adjacent sub-parallel mineralized vein sets to extend the current resource.

These most recent results continue to confirm continuity of significant high grade silver mineralization in each of the main mineralized vein zones as follows: 

  • Intercepts on the Bear Vein included 4.29 m true width at 3,605 g/t (115.91 ounces per tonne (“oz/t”)) Ag in hole BMUG18-018; 5.99 m true width at 1,013 g/t (32.56 oz/t) Ag in hole BMUG18-022; and 0.98 m true width at 6,952 g/t (223.52 oz/t) Ag in hole K-18-0702;
  • Intercepts on the Bermingham Footwall Vein included 3.96 m true width at 3,348 g/t (107.64 oz/t) Ag in hole BMUG18-016, and 2.27 m true width at 4,480 g/t (144.03 oz/t) Ag in hole K-18-0702;
  • Intercepts in the Bermingham Main Vein included 4.10 m true width at 1,575 g/t (50.65 oz/t) Ag in hole BMUG18-019; and
  • Intercepts on the West Dipping Vein set included 1.37 m true width at 1,372 g/t (44.12 oz/t) Ag in hole BMUG18-016, 2.49 m true width at 1,253 g/t (40.27 oz/t) Ag in hole BMUG18-017, and 1.32 m true width at 1,982 g/t (63.73 oz/t) Ag in hole BMUG-024.

Alexco Chairman and CEO Clynt Nauman commented, “These results serve to reconfirm our confidence in the continuity and tenor of silver mineralization in what now appears to be one of the larger silver mineralizing systems in the Keno Hill Silver District. With these results in hand, we will immediately update the Bermingham deposit resource estimate, while also anticipating that the 2018 closer spaced drilling may result in some of the Indicated Resource  converting to Reserves in our upcoming prefeasibility study scheduled for release in October.”

Drill Composite Assay Interval Highlights

BMUG18-016

11.16 m interval (8.03 m true width) from 214.64 m at 1,775 g/t (57.1 oz/t) Ag, 4.48% lead (“Pb”), 2.43% zinc (“Zn”); that includes the 5.51 m interval (3.96 m true width) from 214.64 m at 3,348 g/t (107.6 oz/t), 8.53% Pb, 4.51% Zn.

   

BMUG18-018

6.17 m interval (4.29 m true width) from 112.5 m at 3,605 g/t (115.9 oz/t) Ag, 13.63% Pb, 2.48% Zn.

   

BMUG18-019

6.97 m interval (4.10 m true width) from 211.55 m at 1,575 g/t (50.65 oz/t) Ag, 2.71% Pb, 1.68% Zn.

   

BMUG18-022

12.35 m interval (5.99 m true width) from 155.65 m at 1,013 g/t (32.56 oz/t) Ag, 3.76% Pb, 1.36% Zn.

   

K-18-0702

7.67 m interval (4.51 m true width) from 316.15 m at 1,496 g/t (48.09 oz/t) Ag, 6.38% Pb, 2.03% Zn; and 7.37 m (4.33 m true width) from 328.45 m at 2,421 g/t (77.84 oz/t) Ag, 6.67% Pb, 5.42% Zn.

   

BMUG18-023

5.43 m interval (4.03 m true width) from 207.57 m at 3,784 g/t (121.66 oz/t) Ag, 1.67% Pb, 2.97% Zn.

Details of the drill holes are shown in Table 1. Composite assay grades and intervals, calculated at a 30 g/t Ag cutoff restricted to include a maximum of two meters unmineralized dilution, used to identify the mineralized zones are shown in Table 2. 

Notes

The 2018 exploration drill program and sampling protocol has been reviewed, verified and compiled by Alexco’s geologic staff under the supervision of Alan McOnie, Vice President, Exploration for Alexco and a Qualified Person as defined by National Instrument 43-101 (“NI 43-101”). A rigorous quality control and quality assurance protocol is used on the project, including blank, duplicate and standard reference samples in each batch of 20 samples deliver to the assay lab.  Drill core samples were direct shipped to ALS Minerals Lab at WhitehorseYukon for preparation, and to the ALS Minerals facility in North Vancouver, British Columbia for fire assay, multi-element ICP and overlimit analyses.

The disclosure of all other scientific and technical information contained in this news release regarding projects on Alexco’s mineral properties have been reviewed and approved by Mr. Alan McOnie, FAusIMM, Alexco’s Vice President, Exploration, who is a Qualified Person as defined by NI 43-101 – Standards of Disclosure for Mineral Projects.

About Alexco

Alexco owns the majority of the historic high-grade Keno Hill Silver District in Canada’s Yukon Territory as detailed in its preliminary economic assessment (the “PEA”) entitled “Preliminary Economic Assessment of the Keno Hill Silver District Project, Yukon, Canada“, which is dated March 29, 2017, with an effective date of January 3, 2017, which anticipates the sequential development of four high grade silver deposits over an eight year mine life producing more than one million tonnes with an average grade of 843 grams per tonne silver, 3.3% lead and 4.6% zinc. Silver production is anticipated to be approximately 3.5 million ounces per year. The PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

Alexco also operates a wholly-owned subsidiary business, Alexco Environmental Group, that provides mine-related environmental services, remediation technologies and reclamation and mine closure services to both government and industry clients in North America and elsewhere.

Please visit the Alexco website at www.alexcoresource.com

Some statements (“forward-looking statements”) in this news release contain forward-looking information concerning Alexco’s anticipated results and developments in Alexco’s operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future, made as of the date of this news release.  Forward looking statements may include, but are not limited to, statements with respect to the future remediation and reclamation activities, future mineral exploration, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, future mine construction and development activities, future mine operation and production, the timing of activities and reports, the amount of estimated revenues and expenses, the success of exploration activities, permitting time lines, requirements for additional capital and sources and uses of funds. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results and timing of exploration and development activities; actual results and timing of mining activities; actual results and timing of environmental services activities; actual results and timing of remediation and reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineable resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions; competition; and delays in obtaining governmental approvals or financing or in the completion of development activities. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this news release, Alexco has applied several material assumptions, including, but not limited to, the assumption that Alexco will be able to raise additional capital as necessary, that the proposed exploration and development will proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Alexco expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.

APPENDICES

Table 1 – Drill Hole Details

Hole

Easting

Northing

Elevation (m)

Collar Azimuth

Collar Inclination

Length (m)

Date Completed

BMUG18-014

479022.43

7086942.453

1163.422

134.0

-32.0

302.00

25/06/18

BMUG18-016

479022.388

7086942.523

1163.466

139.5

-26.0

255.00

7/07/18

BMUG18-017

479025.797

7086928.39

1161.188

146.5

-31.0

241.50

5/07/18

BMUG18-018

479026.346

7086929.137

1161.453

137.5

-24.0

243.00

16/07/18

BMUG18-019

479022.517

7086942.561

1163.529

133.0

-24.0

231.00

19/07/18

BMUG18-021

479022.484

7086942.549

1163.617

135.0

-18.0

184.50

27/07/18

BMUG18-022

479025.52

7086928.273

1161.371

148.5

-34.5

255.00

3/08/18

BMUG18-023

479022.616

7086942.449

1163.129

131.0

-29.5

246.00

6/08/18

BMUG18-024

479026.675

7086929.03

1161.357

130.0

-25.5

157.50

8/08/18

BMUG18-025

479022.746

7086942.607

1162.786

141.0

-36.0

208.50

18/08/18

BMUG18-026

479026.56

7086929.221

1161.235

130.5

-33.0

265.50

26/08/18

K-18-0699

479190.799

7086682.152

1354.479

312.0

-75.0

411.50

21/07/18

K-18-0702

479191.0202

7086683.201

1354.633

321.0

-72.5

401.00

30/07/18

K-18-0703

479191.7304

7086682.102

1354.685

327.0

-79.0

422.15

7/08/18

K-18-0704

479192.3904

7086682.866

1354.574

350.0

-71.0

419.00

16/08/18

Table 2 – Assay Composites

                       

Hole

 

From (m)

To (m)

Interval (m)

Est True Width (m)1

Ag (g/t)

Ag (oz/t)

Pb (%)

Zn (%)

Au (g/t)

Vein2

BMUG18-014

 

136.63

145.50

8.87

5.21

144

4.62

0.39

1.19

0.17

BR

Including

136.63

136.95

0.32

0.19

1,190

38.26

2.71

1.69

0.15

 
 

148.05

161.90

13.85

10.45

152

4.90

0.43

0.80

0.12

WD

Including

153.07

153.65

0.58

0.44

1,500

48.23

1.82

1.17

0.79

 
 

245.20

245.85

0.65

0.43

250

8.04

0.13

0.02

0.21

BM FW

 

264.00

264.30

0.30

0.23

3,860

124.10

15.95

0.52

0.30

BM FW Splay

 

289.35

297.00

7.65

3.23

885

28.44

1.69

2.13

0.24

BM

Including

292.50

295.50

3.00

1.27

2,142

68.85

3.64

4.58

0.43

 
                       

BMUG18-016

 

124.07

126.95

2.88

1.81

53

1.71

0.38

0.22

0.14

BR splay

 

129.37

130.24

0.87

0.55

4,203

135.12

1.26

1.27

0.47

BR

Including

129.87

130.24

0.37

0.23

9,830

316.04

2.75

2.50

1.12

 
 

136.50

137.45

0.95

0.60

69

2.22

0.14

1.86

0.13

BR splay

 

140.83

142.24

1.41

0.89

41

1.32

0.09

0.87

0.01

BR splay

 

163.10

165.00

1.90

1.37

1,372

44.12

1.63

0.69

0.08

WD

 

168.00

170.10

2.10

1.51

1,060

34.09

7.95

3.74

0.06

WD splay

Including

169.20

170.10

0.90

0.65

2,430

78.13

18.45

8.34

0.16

 
 

210.00

210.37

0.37

0.27

1,220

39.22

3.26

0.14

0.15

BM FW splay

 

214.64

225.80

11.16

8.03

1,775

57.08

4.48

2.43

0.19

BM FW

Including

214.64

220.15

5.51

3.96

3,348

107.64

8.53

4.51

0.37

 

And

222.33

223.05

0.72

0.52

843

27.10

0.55

0.32

0.06

 
 

229.26

235.58

6.32

6.16

629

20.24

2.73

1.07

0.10

WD2

Including

229.26

234.75

5.49

5.35

717

23.05

3.06

1.16

0.10

 
 

238.50

246.00

7.50

7.31

43

1.39

0.25

0.63

0.03

WD2 splay

                       

BMUG18-017

 

138.28

140.92

2.64

1.44

508

16.34

1.16

0.79

0.09

BR

Including

140.40

140.92

0.52

0.28

2,340

75.23

5.47

3.14

0.27

 
 

145.50

145.87

0.37

0.20

46

1.49

0.33

0.37

0.50

BR splay

 

164.21

168.16

3.95

2.49

1,253

40.27

0.18

4.80

0.15

WD

Including

165.84

168.16

2.32

1.46

2,084

67.00

0.25

7.19

0.26

 
 

213.85

215.03

1.18

0.85

2,743

88.18

2.50

4.03

0.18

BM FW

Including

214.20

215.03

0.83

0.60

3,860

124.10

3.29

1.66

0.25

 
 

217.68

221.55

3.87

2.78

1,052

33.82

0.90

2.13

0.10

BM FW

 

224.40

229.50

5.10

4.79

512

16.47

2.85

3.75

0.06

WD2

Including

226.50

228.65

2.15

2.02

1,036

33.31

5.17

6.96

0.11

 
                       

BMUG18-018

 

112.50

118.67

6.17

4.29

3,605

115.91

13.63

2.48

0.24

BR

 

189.00

191.56

2.56

1.87

301

9.67

0.89

0.40

0.04

WD

Including

189.00

189.60

0.60

0.47

694

22.31

0.54

0.38

0.07

 
 

195.00

196.60

1.60

1.26

666

21.42

0.76

1.10

0.05

FW

 

204.55

207.00

2.45

1.37

975

31.34

0.98

1.64

0.06

BM FW splay

Including

206.25

206.60

0.35

0.20

6,680

214.77

5.43

5.40

0.34

 
 

209.78

216.85

7.07

3.95

382

12.29

0.85

1.07

0.09

BM

Including

209.78

210.22

0.44

0.25

526

16.91

1.94

0.28

0.03

 

And

213.00

216.85

3.85

2.15

468

15.04

1.02

1.46

0.14

 
                       

BMUG18-019

 

114.70

115.57

0.87

0.64

691

22.21

4.17

0.18

0.08

BR

Including

115.25

115.57

0.32

0.23

1,765

56.75

10.95

0.17

0.17

 
 

126.00

130.20

4.20

3.07

1,338

43.03

1.06

3.66

0.09

BR splay

 

138.35

138.65

0.30

0.23

961

30.90

2.08

0.25

0.10

WD splay

 

148.68

149.05

0.37

0.29

541

17.39

0.14

1.70

0.15

WD

 

200.65

202.50

1.85

1.44

90

2.89

0.07

0.18

0.02

BM FW

 

211.55

218.52

6.97

4.10

1,575

50.65

2.71

1.68

0.16

BM

Including

211.55

212.45

0.90

0.53

741

23.82

0.47

0.29

0.04

 

And

216.95

218.52

1.57

0.92

6,476

208.21

11.18

6.46

0.66

 
 

221.20

222.00

0.80

0.47

47

1.51

0.36

0.09

0.01

BM splay

                       

BMUG18-021

 

103.50

104.15

0.65

0.52

530

17.04

2.69

1.49

0.04

 
 

109.50

113.77

4.27

3.41

360

11.56

1.08

0.77

0.01

BR

Including

113.06

113.27

0.21

0.17

3,610

116.06

2.45

2.81

0.12

 
 

118.50

119.37

0.87

0.69

63

2.03

0.21

0.64

0.01

BR splay

 

123.18

124.65

1.47

1.17

247

7.94

0.06

0.98

0.01

BR splay

Including

123.18

123.87

0.69

0.55

429

13.79

0.10

1.82

0.03

 
 

169.50

170.05

0.55

0.38

263

8.46

2.61

0.09

0.03

BM splay

                       

BMUG18-022

 

155.65

168.00

12.35

5.99

1,013

32.56

3.76

1.36

0.15

BR

Including

160.50

165.08

4.58

2.22

2,584

83.08

9.34

2.96

0.34

 
 

231.80

240.30

8.50

5.58

754

24.23

2.34

2.49

0.22

BM FW

Including

231.80

239.22

7.42

4.87

828

26.63

2.51

2.39

0.21

 
 

243.00

245.42

2.42

1.59

191

6.14

0.48

0.37

0.05

BM FW splay

                       

BMUG18-023

 

117.75

123.50

5.75

4.07

338

10.85

1.11

1.01

0.06

BR

Including

117.75

119.09

1.34

0.95

1,231

39.58

3.83

2.82

0.20

 
 

127.62

131.15

3.53

2.50

65

2.10

0.65

0.74

0.02

BR splay

 

150.95

151.80

0.85

0.68

147

4.73

0.84

0.41

0.01

WD splay

 

153.80

154.65

0.85

0.68

146

4.69

0.08

1.21

0.02

WD splay

 

207.57

213.00

5.43

4.03

3,784

121.66

1.67

2.97

0.08

BM FW

Including

208.30

211.16

2.86

2.13

7,122

228.96

3.04

4.97

0.31

 
 

224.49

225.83

1.34

0.99

79

2.54

0.21

0.17

   
 

229.50

231.00

1.50

0.82

336

10.79

0.41

0.75

0.20

 
                       

BMUG18-024

 

103.79

106.65

2.86

2.11

563

18.11

0.42

0.17

0.06

BR

Including

103.79

105.00

1.21

0.89

1,241

39.90

0.48

0.12

0.10

 
 

111.82

117.00

5.18

3.82

50

1.61

0.04

0.48

0.03

BR splay

 

121.39

122.45

1.06

0.78

73

 

0.04

1.06

0.07

BR splay

 

127.00

127.95

0.95

0.70

70

2.24

0.16

0.83

0.06

BR splay

 

136.50

138.11

1.61

1.32

1,982

63.73

2.63

2.16

0.20

WD

Including

137.80

138.11

0.31

0.25

9,940

319.58

13.05

11.10

0.96

 
                       

BMUG18-025

 

153.00

163.06

10.06

5.48

879

28.27

0.92

0.59

0.19

BR

Including

153.90

155.45

1.55

0.84

2,818

90.60

1.65

0.43

0.70

 

And

158.94

159.25

0.31

0.23

11,721

376.82

7.71

0.01

0.61

 
 

168.56

169.23

0.67

0.49

2,824

90.81

0.71

0.04

0.18

WD splay

Including

168.56

169.23

0.67

0.49

2,824

90.81

0.71

0.04

0.18

 
                       

BMUG18-026

 

117.35

139.44

22.09

13.29

501

16.11

1.94

1.39

0.16

BR

Including

117.35

119.75

2.40

1.44

1,650

53.05

5.00

3.22

0.51

 

And

122.05

122.51

0.46

0.28

1,100

35.37

2.72

1.68

0.10

 

And

129.33

133.50

4.17

3.57

886

28.49

3.59

2.87

0.12

 

And

136.73

138.23

1.50

1.29

980

31.50

5.41

1.94

0.45

 
 

153.76

158.36

4.60

3.98

53

1.70

0.14

0.66

0.02

WD splay

 

232.50

239.72

7.22

4.24

300

9.65

1.38

0.69

0.14

BM FW

Including

232.50

233.03

0.53

0.31

808

25.98

2.05

2.54

0.16

 

And

235.50

236.20

0.70

0.41

933

29.99

4.44

0.65

0.13

 
                       

K-18-0699

 

356.52

363.57

7.05

3.74

242

7.79

0.86

0.95

0.07

BM FW

Including

361.08

363.57

2.49

1.32

576

18.53

1.99

1.81

0.08

 
                       

K-18-0702

 

290.98

292.22

1.24

0.83

131

4.21

0.16

0.07

0.29

BM

 

295.40

298.90

3.50

2.34

104

3.36

0.30

0.32

0.18

BM

 

309.45

323.82

14.37

8.45

974

31.30

3.56

1.75

0.10

BM FW

Including

312.15

312.75

0.60

0.35

3,590

115.42

2.56

13.05

0.39

 

And

316.15

323.82

7.67

4.51

1,496

48.09

6.38

2.03

0.14

 
 

328.45

335.82

7.37

4.33

2,421

77.84

6.67

5.42

0.33

BM FW

Including

330.83

334.70

3.87

2.27

4,480

144.03

11.55

9.76

0.52

 
 

383.32

385.40

2.08

0.98

6,952

223.52

17.13

0.20

0.68

BR

Including

383.32

384.81

1.49

0.70

9,675

311.07

23.84

0.21

0.94

 
                       

K-18-0704

 

335.25

338.00

2.75

1.54

750

24.12

2.10

0.68

0.17

BM

Including

335.25

335.77

0.52

0.29

3,820

122.82

10.30

2.41

0.60

 
 

361.25

366.50

5.25

2.70

505

16.25

3.53

0.74

0.11

BM FW

Including

361.25

365.95

4.70

2.42

559

17.96

3.91

0.75

0.13

 
 

369.70

370.05

0.35

0.18

969

31.15

2.86

0.62

0.08

BM FW splay

 

375.55

382.75

7.20

3.71

505

16.24

1.03

2.15

0.02

BM FW splay

Including

375.55

377.29

1.74

0.90

1,974

63.46

3.57

7.77

0.20

 
 

399.20

400.76

1.56

0.81

127

4.08

0.27

0.16

0.06

BM FW splay

 

406.55

408.43

1.88

0.64

641

20.60

3.13

0.60

0.12

BR

Including

406.55

407.45

0.90

0.31

1,295

41.64

6.50

1.13

0.23

 
                       

Table 2

Bermingham Assay Composites

               
 

Calculated at 30 g/t Ag cut-off with a maximum of two metres unmineralized internal dilution.

       
 

Calculated at 400 g/t Ag cut-off with a maximum of two metres unmineralized internal dilution.

     
 

Greater than 100 oz/t (3,110 g/t) Ag

             
                       

1

Estimated True Width from modelled vein attitude and drill hole intercept orientation.

       

2

Correlated Vein : BM = Bermingham, BM FW = Bermingham Footwall Vein, BR = Bear Vein, WD = West Dipping Vein.

 

SOURCE Alexco Resource Corp.

Contact Information:

Alexco Resource Corp.

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