AND EXCHANGE COMMISSION
OF FOREIGN PRIVATE ISSUER
TO RULE 13a-16 OR 15d-16
THE SECURITIES EXCHANGE ACT OF 1934
|For the month of December 2017.
Number 001-33621 |
of registrant's name into English)
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Street, Box 216
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.
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
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||News Release Dated December 28, 2017 - Alexco Announces Amendment of Water Use Licence at Keno Hill and Other Developments|
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.
||ALEXCO RESOURCE CORP.|
||/s/ Mike Clark
|Date: December 28,
Chief Financial Officer
Alexco Announces Amendment of Water Use Licence at Keno
Hill and Other Developments
VANCOUVER, Dec. 28, 2017 /CNW/ - Alexco Resource Corp.
(NYSE-American:AXU, TSX:AXR) ("Alexco" or the "Company") is pleased to announce that it has
received an amendment to its Water Use Licence from the Yukon Water Board for the development and operation (and eventual closure)
of the Flame & Moth mine. The Flame & Moth underground mine, located adjacent to the existing Keno Hill District mill,
comprises a potentially mineable 683,000 tonnes of 666 grams per tonne ("g/t") silver and is anticipated to be the primary
production source for mine operations in the Keno Hill Silver District (RPA, 20171).
Clynt Nauman, Alexco CEO and Chairman commented, "The
receipt of the Flame & Moth Water Use Licence amendment is the final permit and regulatory authorization required for production
from the Flame & Moth mine. Receipt of this licence amendment is a milestone in our journey toward mine operations and has
involved the cooperation and support of our many stakeholders and partners, including the First Nation of Nacho Nyak Dun."
In addition to Flame & Moth, the Bellekeno, Lucky Queen
and Onek mines are also fully permitted for operations in the Keno Hill Silver District. In November 2017, the Company submitted
a further Project Proposal to the Yukon Environmental Socioeconomic Assessment Board for environmental assessment of the development,
operations and eventual closure for the Bermingham mine. Bermingham is anticipated to contribute approximately 220,000 tonnes
of 1,276 g/t silver toward the approximately one million tonne and more than 27 million silver ounce mine production stream outlined
over eight years in the PEA mine plan1. Approximately 5,000 meters ("m") of underground exploration and in-fill
drilling of the Bermingham deposit will commence later in Q1 2018 upon completion of the currently active 580 m Bermingham exploration
decline. Results of the drilling along with other work will contribute to a pre-feasibility study anticipated to be completed in
In other business, Alexco announces that it has restructured
its US environmental division. In this restructuring, Alexco's wholly-owned subsidiary, Alexco Environmental Group Inc. ("AEG
Canada") has entered into a share purchase agreement with Arete Property Holdings LLC ("Arete") for
the purchase by Arete of all of the issued shares of Alexco Environmental Group (US) Inc. ("AEG US") and its wholly-owned
subsidiary, Alexco Financial Guaranty Corp. (collectively with AEG US, the "AEG US Group") for nominal consideration.
Arete is wholly-owned by Mr. James Harrington, Senior Vice President and Chief Technical Officer of AEG Canada.
As a result of this transaction, a new Colorado affiliate
of AEG Canada, Alexco Water and Environment Inc. will seamlessly continue current and future environmental work in the United States.
AEG US Group, together with initial funding provided by AEG Canada required for ongoing administrative and corporate responsibilities,
will become subsidiaries of, and will be directly managed by Arete to pursue certain property negotiation rights and further capital
Mr. Nauman commented, "The restructuring of Alexco's
US environmental division is merely an initial step in facilitating AEG's ability to pursue significant opportunities for new brownfields-related
environmental work and revenue while also prudently managing the parent company balance sheet."
The participation of Mr. Harrington (through his ownership
of Arete) in the proposed sale of the AEG US Group from AEG Canada (the "Proposed Transaction") causes the Proposed Transaction
to be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101").
However, the Proposed Transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI
61-101 as neither the fair market value of the assets acquired by, or the consideration paid by, the related party, Mr. Harrington,
will exceed 25% of the Company's market capitalization. The Proposed Transaction has been reviewed and approved by a special committee
of the Board of directors of the Company and the Board of directors of the Company.
||"Technical Report Preliminary Economic Assessment of the Keno Hill Silver District Project, Yukon Territory, Canada." NI 43-101 Report. RPA, March 29, 2017.|
The disclosure in this news release of scientific and technical
information regarding exploration projects on Alexco's mineral properties has been reviewed and approved by Alan McOnie, FAusIMM,
Vice President, Exploration who is a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral
Alexco holds the historical high grade Keno Hill Silver District
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.
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 restructuring of Alexco's US environmental division, 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 the implementation
of the restructuring implementation, 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 implement the restructuring without negative consequences, 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
SOURCE Alexco Resource Corp.
View original content: http://www.newswire.ca/en/releases/archive/December2017/28/c1351.html
For further information: Clynton R. Nauman, Chairman and Chief
Executive Officer; Lisa May, Director of Investor Relations, Phone: (778) 945-6577, Email: firstname.lastname@example.org
CO: Alexco Resource Corp.
CNW 22:55e 28-DEC-17
This regulatory filing also includes additional resources: