UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
| For the month of January 2017. |
Commission File
Number 001-33621 |
ALEXCO RESOURCE
CORPORATION
(Translation
of registrant's name into English)
Suite 1225,
Two Bentall Centre
555 Burrard
Street, Box 216
Vancouver,
BC V7X 1M9 Canada
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
SUBMITTED
HEREWITH
| Exhibit |
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| 99.1 |
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News Release Dated January 3, 2017 – Alexco Expands
Bermingham Indicated Resource to 17 Million Ounces Silver, Remains Open |
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
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ALEXCO RESOURCE CORP. |
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(Registrant) |
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By: |
/s/ Mike Clark |
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| Date: January 3,
2017 |
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Mike Clark
Chief Financial Officer |
Exhibit 99.1
Alexco Expands Bermingham Indicated Resource to 17 Million
Ounces Silver, Remains Open
VANCOUVER, Jan. 3, 2017 /CNW/ - Alexco Resource Corp. (TSX:AXR,
NYSE-MKT:AXU) today reports an updated mineral resource estimate for the Bermingham deposit, located within the Keno Hill Silver
District ("KHSD") in Canada's Yukon Territory. The Bermingham indicated mineral resources are expanded from 5.2 million
ounces to 17.3 million ounces of contained silver, while inferred mineral resources increased from approximately 0.7 million ounces
to 5.5 million ounces of contained silver. As a result, Alexco's district-wide indicated mineral resources at Keno Hill increased
approximately 22% from 55.4 million ounces to 67.5 million ounces of contained silver.
The Bermingham deposit comprises a westerly Etta Zone and
a fault separated larger easterly Arctic Zone. Recent work (2015 – 2016) has focused on the northeasterly extension
of the Arctic Zone where several structurally controlled sets of subparallel moderately to steeply southeast dipping veins including
the Bermingham, Bermingham Footwall and Bear veins splay and rejoin in a manner controlled by the host rock stratigraphy. A westerly
and shallower dipping conjugate vein set (West Dipper vein) is also present. All vein sets in the northeasterly Arctic Zone are
closely associated, connected either laterally or vertically within the wider Bermingham vein-fault structural corridor that is
silver enriched over a 660 m strike length, with mineralization extending from between 90 m to 160 m below surface to a depth of
approximately 350 m where veining remains open.
The updated mineral resource estimate was prepared by SRK
Consulting (Canada) Inc. ("SRK") and is summarized as follows:
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| Deposit |
Zone |
Class |
Vein |
Tonnage |
Silver (g/t) |
Lead (%) |
Zinc (%) |
Gold (g/t) |
Silver Oz |
Bermingham
Vein
Structure |
Arctic |
Indicated |
Bermingham |
248,000 |
376 |
1.47 |
1.33 |
0.12 |
3,001,000 |
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|
Bear |
148,000 |
1,376 |
4.51 |
1.76 |
0.22 |
6,532,000 |
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Bermingham Footwall |
122,000 |
717 |
3.63 |
1.33 |
0.20 |
2,823,000 |
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West-Dipper |
21,000 |
729 |
2.47 |
2.32 |
0.12 |
502,000 |
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Total Arctic Indicated |
539,000 |
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12,858,000 |
| Etta |
Indicated |
Bermingham |
124,000 |
421 |
2.26 |
2.20 |
0.07 |
1,681,000 |
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Bermingham Footwall |
195,000 |
444 |
1.28 |
1.76 |
0.06 |
2,779,000 |
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Total Etta Indicated |
319,000 |
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4,460,000 |
| Total Indicated |
|
858,000 |
628 |
2.40 |
1.65 |
0.13 |
17,318,000 |
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| Arctic |
Inferred |
Bermingham |
46,000 |
460 |
1.92 |
2.21 |
0.12 |
680,000 |
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Bear |
68,000 |
522 |
2.62 |
1.15 |
0.14 |
1,146,000 |
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Bermingham Footwall |
72,000 |
1,276 |
1.24 |
3.06 |
0.18 |
2,961,000 |
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West-Dipper |
4,000 |
1,802 |
17.19 |
8.23 |
0.54 |
246,000 |
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Total Arctic Inferred |
191,000 |
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5,033,000 |
| Etta |
Inferred |
Bermingham |
3,000 |
474 |
2.12 |
2.36 |
0.07 |
47,000 |
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Bermingham Footwall |
26,000 |
436 |
1.24 |
1.69 |
0.07 |
371,000 |
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Total Etta Inferred |
30,000 |
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418,000 |
| Total Inferred |
|
220,000 |
770 |
2.13 |
2.21 |
0.15 |
5,451,000 |
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| Notes: |
| 1. |
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The effective date of this mineral resource estimate is January 3, 2017. |
| 2. |
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Mineral resources are not mineral reserves and do not have demonstrated economic viability. All numbers have been rounded to reflect the relative accuracy of the estimate. |
| 3. |
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Reported at a contained metal value cut-off grade of CAD $185.00/t (US$0.80=C$1) using consensus long term metal prices (US$) and recoveries developed for the nearby Bellekeno deposit (Ag US$20.00/oz, recovery 96%; Pb US$0.95/lb, recovery 97%; Zn US$1.00/lb, recovery 88%; Au US$1,300/oz, recovery 72%). |
| 4. |
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Ag grades capped at 1,500 grams per tonne ("g/t"); Zn capped at 9.5%; Pb capped at 9% for the Bermingham vein. |
| 5. |
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Ag grades capped at 11,000 g/t, Zn capped at 7% and Pb capped at 20% for the Bear Vein. |
| 6. |
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Ag grades capped at 3,000 g/t, Zn capped at 9% and Pb capped at 30% for the Bermingham Footwall vein. |
| 7. |
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Ag grades capped at 2,000, Zn capped at 12% and Pb capped at 20% for the West Dipper vein. |
| 8. |
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Table numbers may not add up due to rounding. |
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Alexco President and Chief Executive Officer Clynt Nauman
said, "The majority of the tonnage in the Bermingham deposit resides in the Arctic Zone. The northeastern extension of the
Arctic Zone is defined by higher grade mineralization primarily in the closely juxtaposed Bear and West Dipper veins which on a
consolidated basis (Appendix II) contain:
| · | Indicated: 169,000 tonnes of 1,296 g/t silver,
including 49,000 tonnes of 2,543 g/t silver in the Bear vein. |
| · | Inferred: 72,000 tonnes of 593 g/t silver, including
4,000 tonnes of 1,818 g/t silver in the West Dipper vein. |
Importantly, the veins and structures hosting this higher
grade mineralization remain largely untested at depth. Finally, the discovery of a West Dipper vein set is particularly significant
as both Boyle (1965) and Cathro (2006), pre-eminent geologists in the understanding of the geology of the KHSD, document the importance
of shallower west dipping conjugate veins in the highest grade deposits in the district, most notably the nearby historical
Elsa Mine. Looked at in total, the Bermingham deposit is emerging as a fairly large discovery, now characterized by more than 850,000
tonnes of indicated mineralization with an average silver grade approximately 25% higher than our Flame & Moth deposit."
Bermingham Deposit
Alexco conducted surface diamond drilling programs at Bermingham
between 2009 and 2012 and again in 2014, with 61 holes drilled totaling 18,699 m. In 2015 and 2016 a further 19,977 m were drilled
in 58 holes such that the entire data base at Bermingham now includes 119 holes for 38,676 m. All of this drilling was inclined
northwesterly except for five holes (1,729 m) drilled southeasterly (parallel to the dominant vein dip direction) to identify and
define the newly discovered west dipping conjugate vein set (the "West Dipper"). The resource estimation presented
here incorporates the results from 275 composite assay intervals from 93 holes compared with those from 38 holes that were used
in the April 2015 estimation.
Drilling in 2016 was focused on obtaining resource definition
intercept spacings, particularly on the high grade Bear vein that ranges in true width up to 6.4 m at 182 ounce per tonne ("oz/t")
silver (K-14-0537) and in grade up to 240 oz/t silver over 5.0 m true width (K-15-0580) and that has now been traced over a down-plunge
extent of 270 m (over a vertical range of 230 m) and a plunge width of up to 100 m, with the top of the deposit in this vicinity
being approximately 160 m below surface.
Interpretation of the consolidated drilling results has identified
four mineralized veins that splay and change orientation along strike within the north-northeast striking and moderately to steeply
southeast dipping Bermingham vein-fault structural corridor. This structural corridor is divided into the Etta Zone that lies in
the hangingwall of the post-mineral Mastiff Fault and the Artic Zone in its footwall. The main through-going Bermingham and Bermingham
Footwall veins occur in both the Etta and Arctic zones, while the Bear vein and associated newly identified conjugate West Dipper
vein set occur only within the Arctic Zone in a position controlled by a flexure in the Bermingham vein-fault. The resource estimate
update incorporates both the Bermingham and Bermingham Footwall vein previously reported within the Etta and Arctic zones, with
a significant extension of the Arctic zone within the known veins and the two newly discovered veins.
The Bermingham deposit veins typically occur in structurally
complex zones as discrete veins 0.5 m to more than 5 m wide with a five to ten meters wide structurally damaged vein margin. The
discrete veins exhibit heavily-disseminated to massive mineralization while mineralization in the vein margins is commonly more
stringer-like. The Bermingham resource has been separately estimated in terms of these mineralization categories as shown in Appendix
II. Regardless of category, higher grade Bermingham mineralization is generally characterized by the presence of a complex silver
bearing mineral assemblage including pyrargyrite (ruby silver), freibergite, argentiferous galena, stephanite, polybasite and wire
silver in a dominantly sideritic gangue.
Metallurgical test work has demonstrated that silver and lead
recoveries are expected to be in the range of 94% to 96%, while producing a lead concentrate grading in excess of 60% lead and
30,000 g/t silver. Zinc recovery is predicted to be in the range of 70% to 75% to a zinc concentrate grading in excess of 50% zinc.
The Bermingham mineral resource was estimated using 3-D Gemcom
block modeling software in multiple passes in three by three by three meter blocks by ordinary kriging. Grade estimates were based
on capped one meter composited assay data. Capping levels were set to 1,500 g/t for silver for the Bermingham vein, 3,000 g/t for
the Footwall vein, 2,000 for the West Dipper Vein and 11,000 for the Bear vein; lead was capped at 9.5% for the Bermingham vein,
30% for the Footwall vein, 20% for the West Dipper Vein and at 30% for the Bear vein. Zinc was capped at 9% for the Bermingham
and Footwall veins, at 7% for the Bear vein and at 12% for the West Dipper vein. Blocks were classified as indicated mineral resources
if at least three drill holes and five composites were found within the first pass search ellipse. All other interpolated blocks
were classified as inferred mineral resources.
A summary of all of Alexco's KHSD mineral resources incorporating
the updated mineral resource estimates for Bermingham are appended to this release, and are available for review on the Company's
website at www.alexcoresource.com.
Technical Report Update, 2017 Exploration Plans
In March, 2017, Alexco plans to publish an updated Preliminary
Economic Assessment including technical support for the expanded Bermingham resource estimation presented here, as well as updated
mine plans for the Flame & Moth, Bellekeno and Lucky Queen deposits and a preliminary mine plan for potentially mineable tonnes
from the Bermingham deposit.
Alexco is presently planning a minimum 5,000 m surface diamond
drilling program at Bermingham in 2017 primarily to expand high grade mineralization down-plunge into an area where, as an outcome
of 2016 drilling, the Bermingham vein system is observed to closely imitate the large-scale looping vein geometries observed at
the largest past-producing mine in the district, the Hector-Calumet mine (96 million ounces of silver). Subject to permitting requirements,
the Company is also contemplating an underground exploration program at Bermingham to infill and upgrade the higher grade areas
in the shallower portion of the resource.
References
Boyle, R.W., 1965.
"Geology, Geochemistry, and Origin of the Lead-Zinc-Silver Deposits of the Keno Hill – Galena Hill Area, Yukon Territory".
Bulletin 111, Geological Survey of Canada.
Cathro, R.J., 2006.
"The History and Geology of the Keno Hill Silver Camp Yukon Territory." Geoscience Canada, Volume 33, Number
3.
Qualified Persons
SRK prepared the updated mineral resource estimate for the
Bermingham deposit, and is independent of Alexco for purposes of National Instrument 43-101 - Standards of Disclosure for Mineral
Projects ("NI 43-101"). The Bermingham mineral resource estimate was completed by Dr. Gilles Arseneau, P.Geo., Associate
Consultant (Resource Geology) with SRK, whom is Qualified Persons as defined by NI 43-101. Dr. Arseneau has reviewed, verified
and approved the contents of this news release relating to the mineral resource estimate for the Bermingham deposit. All mineral
resources are classified following the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014), in accordance
with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and with NI 43-101 guidelines.
The metallurgical testing information in this news release
has been reviewed and verified by Jeffrey B. Austin P. Eng., President International Metallurgical and Environmental Inc. and a
Qualified Person as defined by NI 43-101.
The disclosure of all other scientific and technical information
in this news release regarding projects on Alexco's mineral properties has been reviewed and approved by Alan McOnie, FAusIMM,
Alexco's Vice President, Exploration and a Qualified Person as defined by NI 43-101.
The drill data and sampling protocols have been reviewed,
verified and compiled by Alexco's geologic staff since 2011 under the supervision of Alan McOnie, Vice President, Exploration for
Alexco and a Qualified Person as defined by National Instrument 43-101 and previously by Stan Dodd, Vice President, Exploration
for Alexco and a Qualified Person as defined by National Instrument 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 delivered
to the assay lab. Drill core samples included in the updated resource estimation were shipped to ALS Minerals Labs at Whitehorse,
Yukon Territory for preparation, with fire assay, multi-element ICP analyses and ore grade over limits completed at the ALS Minerals
facility in North Vancouver, British Columbia.
About Alexco
Alexco Resource Corp. owns the Bellekeno silver mine, one
of several mineral properties held by Alexco which encompass substantially all of the historical KHSD located in Canada's Yukon
Territory. Employing a unique business model, Alexco also provides mine-related environmental services, remediation technologies
and reclamation and mine closure services to both government and industry clients through the Alexco Environmental Group, its wholly-owned
environmental services division.
Please visit the Alexco website at www.alexcoresource.com
Some statements ("forward-looking statements")
in this news release contain forward-looking information concerning the Company's anticipated results and developments in the Company'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 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, the Company has applied several material assumptions, including,
but not limited to, the assumption 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. The Company 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.
APPENDIX I - Summary of Resources
The following table sets forth the estimated resources for
Alexco's mineral properties within the Keno Hill Silver District:
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| Category1,2,11 |
Property |
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|
Tonnes |
|
Ag
(g/t) |
|
Au
(g/t) |
|
Pb
(%) |
|
Zn
(%) |
|
Contained
Ag (oz) |
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|
| Indicated |
Bellekeno Deposit3&4 |
262,000 |
|
585 |
|
n/a |
|
3.5% |
|
5.3% |
|
4,927,000 |
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Lucky Queen Deposit3&5 |
124,000 |
|
1,227 |
|
0.2 |
|
2.6% |
|
1.7% |
|
4,892,000 |
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Flame & Moth Deposit3&6 |
1,638,000 |
|
506 |
|
0.4 |
|
1.9% |
|
5.4% |
|
26,650,000 |
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Onek3&7 |
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|
654,000 |
|
200 |
|
0.6 |
|
1.3% |
|
12.3% |
|
4,205,000 |
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Bermingham3&8 |
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858,000 |
|
628 |
|
0.1 |
|
2.4% |
|
1.7% |
|
17,318,000 |
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Total Indicated – Sub-Surface |
3,536,000 |
|
510 |
|
n/a |
|
2.1% |
|
5.6% |
|
57,992,000 |
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Elsa Tailings9 |
|
2,490,000 |
|
119 |
|
0.1 |
|
1.0% |
|
0.7% |
|
9,527,000 |
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|
Total Indicated – All Deposits |
6,026,000 |
|
349 |
|
n/a |
|
1.6% |
|
3.6% |
|
67,519,000 |
| Inferred |
Bellekeno Deposit3&4 |
243,000 |
|
428 |
|
n/a |
|
4.1% |
|
5.1% |
|
3,344,000 |
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Lucky Queen Deposit3&5 |
150,000 |
|
571 |
|
0.2 |
|
1.4% |
|
0.9% |
|
2,754,000 |
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Flame & Moth Deposit3&6 |
348,000 |
|
366 |
|
0.3 |
|
0.5% |
|
4.4% |
|
4,095,000 |
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Onek3&7 |
|
|
234,000 |
|
134 |
|
0.4 |
|
1.2% |
|
8.9% |
|
1,008,000 |
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Bermingham3&8 |
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|
220,000 |
|
770 |
|
0.2 |
|
2.1% |
|
2.2% |
|
5,451,000 |
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Total Inferred |
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|
1,027,000 |
|
433 |
|
n/a |
|
1.8% |
|
4.6% |
|
16,652,000 |
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| Historical |
Silver King10 |
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Resources |
- Proven, probable and indicated |
98,998 |
|
1,354 |
|
n/a |
|
1.6% |
|
0.1% |
|
4,310,000 |
| |
|
- Inferred |
22,581 |
|
1,456 |
|
n/a |
|
0.1% |
|
n/a |
|
1,057,000 |
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| Notes: |
| 1. |
|
All mineral resources are classified following the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014), in accordance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and the guidelines of NI 43-101. |
| 2. |
|
Mineral resources are not mineral reserves and do not have demonstrated economic viability. All numbers have been rounded to reflect the relative accuracy of the estimates. |
| 3. |
|
The Keno Hill Silver District is comprised of five deposits: Bellekeno, Lucky Queen and Flame & Moth, Onek and Bermingham, of which Bellekeno, Lucky Queen and Flame & Moth are incorporated into the current mine plan outlined in the technical report filed on SEDAR dated December 10, 2014 entitled "Updated Preliminary Economic Assessment for the Keno Hill Silver District Project – Phase 2, Yukon, Canada". The mineral resource estimates for the project are supported by (a) disclosure in the news release dated December 23, 2014 entitled "Alexco Updates Positive Preliminary Economic Assessment for Expanded Silver Production from Keno Hill Silver District, Yukon"; and (b) a technical report filed on SEDAR dated December 10, 2014 entitled "Updated Preliminary Economic Assessment for the Keno Hill Silver District Project – Phase 2, Yukon, Canada". The mineral resource estimates for the Flame & Moth deposit is further supported by disclosure in the news release dated April 30, 2015 entitled "Alexco Announces Indicated Silver Resource Estimate Increases of 17% at Flame & Moth and 26% at Bermingham, Resulting in a 10% Increase Overall for Keno Hill Silver District". |
| 4. |
|
The resource estimates for the Bellekeno deposit are based on a geologic resource estimate having an effective date of September 30, 2012. The Bellekeno indicated resources are as at September 30, 2013, and reflect the geologic resource less estimated subsequent depletion from mine production. |
| 5. |
|
The mineral resource estimates for the Lucky Queen deposit have an effective date of July 27, 2011. |
| 6. |
|
The mineral resource estimates for the Flame & Moth deposit have an effective date of April 28, 2015. |
| 7. |
|
The mineral resource estimates for Onek have an effective date of October 15, 2014. |
| 8. |
|
The mineral resource estimates for Bermingham have an effective date of January 3, 2017. |
| 9. |
|
The mineral resource estimate for the Elsa Tailings has an effective date of April 22, 2010, and is supported by the technical report dated June 16, 2010 entitled "Mineral Resource Estimation, Elsa Tailings Project, Yukon, Canada". |
| 10. |
|
Historical mineral resources for Silver King are supported by disclosure in the news release dated December 23, 2014 entitled "Alexco Updates Positive Preliminary Economic Assessment for Expanded Silver Production from Keno Hill Silver District, Yukon" |
| 11. |
|
The disclosure regarding the summary of estimated mineral resources for Alexco's mineral properties within the Keno Hill District has been reviewed and approved by Scott Smith, P.Eng., former Bellekeno Mine Manager and a Qualified Person as defined by NI 43-101. |
| |
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|
APPENDIX II - Bermingham Resource Estimate by Vein
and Vein Margin
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| Deposit |
Zone |
Class |
Tonnes |
Ag
(g/t) |
Pb
(%) |
Zn
(%) |
Au
(g/t) |
Ag
(troy ounces) |
| Bermingham |
Bermingham
Vein |
Indicated |
220,000 |
432 |
1.9 |
1.7 |
0.13 |
3,062,000 |
| |
|
Inferred |
23,000 |
583 |
2.7 |
2.8 |
0.16 |
424,000 |
| |
Bermingham
Vein Margin |
Indicated |
152,000 |
332 |
1.5 |
1.5 |
0.07 |
1,621,000 |
| |
|
Inferred |
26,000 |
356 |
1.3 |
1.7 |
0.09 |
303,000 |
| |
Bear Vein |
Indicated |
49,000 |
2,543 |
7.5 |
2.7 |
0.37 |
4,017,000 |
| |
|
Inferred |
25,000 |
550 |
2.9 |
1.9 |
0.18 |
447,000 |
| |
Bear Vein
Margin |
Indicated |
99,000 |
794 |
3.0 |
1.3 |
0.14 |
2,515,000 |
| |
|
Inferred |
43,000 |
505 |
2.5 |
0.7 |
0.11 |
699,000 |
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Bermingham
Footwall
Vein |
Indicated |
167,000 |
657 |
3.0 |
1.7 |
0.16 |
3,536,000 |
| |
|
Inferred |
62,000 |
1,407 |
1.3 |
3.5 |
0.19 |
2,815,000 |
| |
Bermingham
Footwall
Vein Margin |
Indicated |
150,000 |
430 |
1.3 |
1.5 |
0.06 |
2,067,000 |
| |
|
Inferred |
36,000 |
442 |
1.1 |
1.4 |
0.09 |
518,000 |
| |
West-Dipper
Vein |
Indicated |
13,000 |
932 |
3.4 |
2.8 |
0.15 |
388,000 |
| |
|
Inferred |
4,000 |
1,818 |
17.4 |
8.3 |
0.55 |
244,000 |
| |
West-Dipper
Vein Margin |
Indicated |
8,000 |
421 |
1.0 |
1.7 |
0.06 |
115,000 |
| |
|
Inferred |
- |
- |
- |
- |
- |
- |
| Total |
All Veins
and Vein
Margins |
Indicated |
858,000 |
628 |
2.4 |
1.7 |
0.13 |
17,321,000 |
| |
|
Inferred |
220,000 |
770 |
2.1 |
2.2 |
0.15 |
5,450,000 |
| |
| Notes: |
| 1. |
|
The effective date of this mineral resource estimate is January 3, 2017. |
| 2. |
|
Mineral resources are not mineral reserves and do not have demonstrated economic viability. All numbers have been rounded to reflect the relative accuracy of the estimates. |
| 3. |
|
Reported at a contained metal value cut-off grade of CAD $185.00/t (US$0.80=C$1) using consensus long term metal prices (US$) and recoveries developed for the nearby Bellekeno deposit (Ag US$20.00/oz, recovery 96%; Pb US$0.95/lb, recovery 97%; Zn US$1.00/lb, recovery 88%; Au US$1,300/oz, recovery 72%). |
| 4. |
|
Ag grades capped at 1,500 grams per tonne ("g/t"); Zn capped at 9.5%; Pb capped at 9% for the Bermingham vein. |
| 5. |
|
Ag grades capped at 11,000 g/t, Zn capped at 7% and Pb capped at 20% for the Bear Vein. |
| 6. |
|
Ag grades capped at 3,000 g/t, Zn capped at 9% and Pb capped at 30% for the Bermingham Footwall vein. |
| 7. |
|
Ag grades capped at 2,000, Zn capped at 12% and Pb capped at 20% for the West Dipper vein. |
| 8. |
|
Table numbers may not add up due to rounding. |
| |
|
|
SOURCE Alexco Resource Corp.
%CIK: 0001364128
For further information: Clynton R. Nauman, President and
Chief Executive Officer; Mike Clark, Chief Financial Officer; Phone: (604) 633-4888, Email: info@alexcoresource.com
CO: Alexco Resource Corp.
CNW 04:00e 03-JAN-17
This regulatory filing also includes additional resources:
ex991.pdf
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