VANCOUVER, Dec. 4, 2019 /PRNewswire/ - Alexco
Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco"
or the "Company") reports final results from the 2019 drilling
program at the Keno Hill Silver District property in Canada's Yukon
Territory. Following the successful demonstration of the
presence of deeper mineralization adjacent to the existing resource
at Bermingham Northeast (see news release dated September 10, 2019, entitled "Alexco Intersects
8.1 Meters (true width) at Composite Grade of 1,414 Grams Per Tonne
(45.5 oz/t) Silver at "Bermingham Deep" target"), Alexco embarked
on an approximate 3,000 meter ("m") surface drill program targeting
areas with a geological setting interpreted to be similar to that
of the high-grade Bermingham deposit. A new discovery at the Inca
target returned encouraging results as follows:
Highlights
Inca – New Discovery
- K-19-0749 intersected the Inca vein over a true width of
7.44 m at a composite grade of 832
grams per tonne ("g/t") (26.75 ounces per tonne ("oz/t")) silver
("Ag") from 142.61 m that included
several intervals grading greater than 1,000 g/t Ag, such as
1.60 m true width at 1,190 g/t (38.26
oz/t) Ag from 142.61 m, and
0.75 m true width at 3,860 g/t
(124.10 oz/t) Ag from 148.27 m.
- K-19-0756 drilled 70 m from
K-19-0749, intersected the Inca vein over a 5.50 m true width at a composite grade of 597 g/t
(19.18 oz/t) Ag from 134.4 m,
including 0.56 m true width at 2,070
g/t (66.55 oz/t) Ag from 135.84 m,
and 1.18 m true width at 1,110 g/t
(35.69 oz/t) Ag from 136.41 m. This
hole also intersected 10.7% zinc over 5.50
m true width from 134.4
m.
- K-19-0754 also drilled 70 m from
K-19-0749, intersected the Inca vein over a 0.37 m true width grading 2,070 g/t (66.55 oz/t)
Ag from 167.75 m within an
8.06 m true width interval
mineralized zone from 161.00 m that
averaged a composite grade of 127 g/t Ag.
Alexco's Chairman and Chief Executive Officer, Clynt Nauman, commented, "The Inca discovery
reflects the increasing confidence our geology team has in
predicting the geological setting in which these deposits occur at
Keno Hill. It is another blind discovery that is open along strike
and down dip, but perhaps more importantly it is within a
favourable structure which has at least 800 meters of untested
strike length in rocks which are known to host most of the silver
deposits in the district. Clearly, more work is required in 2020 to
better understand the importance of the Inca discovery."
Inca - Geology Detail
The Inca Fraction quartz claim is located approximately 1.5
kilometers from the district mill and covers an area in which a
vein-structure demonstrates an abrupt change in strike from
east-northeast to a more mineralization favourable north-northeast
attitude. A total of 1,893 m were
drilled in 12 drill holes with several encountering significant
silver grades over wide intervals as noted above. The mineralized
structure is characterized by massive, somewhat banded, mineralized
hydrothermal vein and breccia over true widths of up to eight
meters. The central portion of the structure is surrounded by a
20 m to 70
m fracture zone characterized by sets of narrow mineralized
veinlets and stringers. The mineralization consists primarily of
siderite gangue together with abundant sphalerite (note that
K-19-0756 contained 10.7% zinc over a true width of 5.50 m). Argentiferous tetrahedrite is observed
as coarse centimetre-width bands and as dispersed grains, closely
associated with the lead minerals, generally galena or
boulangerite. Pyrite, arsenopyrite, chalcopyrite, and orpiment are
variably observed as accessory minerals. The vein structure
displays approximately 200 m of
apparent left-lateral displacement, the magnitude of which suggests
this structure fits into the upper tier of Keno style mineralized
structures, along with both Bermingham and Flame & Moth. The
discovery drilling at Inca was mainly wide-spaced (80 m to 150 m) but
ranged down to 30 m in places to test
for grade-thickness continuity at the shoot scale. Drilling
explored to a maximum depth below surface of 190 m and along a 280
m strike length, however, the structure is open along strike
and down dip, with favourable basal quartzite containing a possible
further 800 m of unexplored strike
length.
Remaining 2019 Drill Results – Highlights
Bermingham Deep (previously unreported but
with location shown in the September 10,
2019 Press Release)
- K-19-0739 – intersected 76 g/t (2.43 oz/t) Ag in the Bermingham
vein over a 1.47 m true width
interval from 585.30 m, and 1,190 g/t
(38.26 oz/t) Ag in the Bermingham Footwall vein over 0.24 m true width from 646.95 m, thus continuing to confirm the depth
extensions to the mineralized system.
Dixie
- K-19-0752 intersected the Dixie vein over a true width of
0.93 m grading 536 g/t (17.2 oz/t) Ag
from 202.38 m.
No Cash
- K-19-0741 intersected the No Cash vein over a true width of
0.35 m grading 550 g/t (17.68 oz/t)
Ag from 80.47 m.
Geology and Drilling General
Following the completion of the Bermingham drilling program in
August 2019, an additional
3,193 m were drilled in 19 holes on
other prospects on Galena Hill (Table 1) where geophysical data
indicated the presence of north-northeast striking vein segments
related to historically-known silver mineralized veins. As
described above, this work resulted in a new discovery along a
northern segment of a vein system that is referred to as the Inca
Prospect.
In total, the 2019 Keno Hill exploration core drilling program
on Galena Hill concluded in mid-October with the completion of 29
holes and 8,333 m, with the majority
of the effort focused at Bermingham where there was success in
confirming the presence of wide structural zones containing silver
and base metal bearing veins up to and over 200 m at depth below the outlined Bermingham
reserve and resource. The latter part of the season was focused on
drill testing for shallow, blind targets in areas where structural
and stratigraphic interpretation indicated the possibility for
discovery of additional silver mineralization as either extensions
of known veins or previously unrecognized systems.
In addition to the Inca discovery, results have confirmed the
extensions to the historically mined veins at No Cash and Dixie
where 527.8 m and 771.6 m were drilled, respectively, in both cases
confirming the extension of mineralized structures beyond known
areas. As well as drilling and geophysics related work, Alexco
initiated a trial rotary air blast ("RAB") drilling program,
primarily to obtain geological and structural information to better
target follow-up diamond drilling. The program was successful and
will be expanded in future exploration programs, along with
follow-up of results from 2019.
Qualified Persons
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 Projects
("NI 43-101").
About Alexco
Alexco owns the majority of the historic high-grade Keno Hill
Silver District in Canada's
Yukon Territory. 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.
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 – 2019 Diamond Drill Holes Completed at No Cash,
Dixie and Inca Prospects
Hole
|
Easting
(m)
|
Northing
(m)
|
Elevation
(m)
|
Length
(m)
|
Collar
Azimuth
|
Collar
Inclination
|
K-19-0741
|
477999.63
|
7087187.73
|
1182.48
|
143.50
|
280
|
-45
|
K-19-0742
|
478000.70
|
7087187.60
|
1182.42
|
113.00
|
280
|
-66
|
K-19-0743
|
478001.31
|
7087187.46
|
1182.34
|
173.33
|
280
|
-82
|
K-19-0744
|
477992.77
|
7087234.60
|
1175.29
|
98.00
|
290
|
-69
|
|
|
4
Holes
|
No
Cash
|
527.83
|
|
|
|
|
|
|
|
|
|
K-19-0750
|
476934.88
|
7086697.24
|
1060.01
|
251.71
|
330
|
-52
|
K-19-0751
|
476934.89
|
7086697.00
|
1059.96
|
250.32
|
330
|
-65
|
K-19-0752
|
476881.97
|
7086643.65
|
1057.76
|
269.60
|
305
|
-63
|
|
|
3
Holes
|
Dixie
|
771.63
|
|
|
|
|
|
|
|
|
|
K-19-0745
|
482655.44
|
7087752.63
|
1171.75
|
86.00
|
318
|
-45
|
K-19-0746
|
482656.45
|
7087751.42
|
1171.66
|
68.45
|
314
|
-76
|
K-19-0747
|
482679.03
|
7087665.52
|
1157.15
|
109.23
|
292
|
-60
|
K-19-0748
|
482679.76
|
7087665.22
|
1157.16
|
137.00
|
292
|
-80
|
K-19-0749
|
482700.65
|
7087553.57
|
1138.25
|
218.00
|
280
|
-60
|
K-19-0753
|
482678.12
|
7087482.02
|
1138.32
|
216.48
|
280
|
-48
|
K-19-0754
|
482678.53
|
7087481.95
|
1138.26
|
213.30
|
280
|
-60
|
K-19-0755
|
482679.02
|
7087481.78
|
1138.30
|
241.15
|
280
|
-71
|
K-19-0756
|
482702.08
|
7087552.33
|
1137.96
|
180.00
|
287
|
-48
|
K-19-0757
|
482703.46
|
7087551.93
|
1137.68
|
207.00
|
287
|
-73
|
K-19-0758
|
482532.05
|
7087610.66
|
1208.81
|
115.70
|
305
|
-85
|
K-19-0759
|
482496.65
|
7087540.55
|
1200.20
|
101.00
|
305
|
-85
|
|
|
12
Holes
|
Inca
|
1,893.31
|
|
|
|
|
|
|
|
|
|
19
Holes
|
Total
|
3,192.77
|
|
|
Table 2 – Assay Composites: Calculated using 30 g/t Ag cut off
with up to 2 m internal waste
Prospect
|
Hole
|
|
From
(m)
|
To
(m)
|
Interval
(m)
|
True Thickness
(m)
|
Ag
(g/t)
|
Ag
(oz/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Vein
|
Bermingham
|
K-19-0739
|
|
585.30
|
587.00
|
1.70
|
1.47
|
76
|
2.43
|
0.62
|
0.90
|
0.02
|
Bermingham
|
|
646.95
|
647.32
|
0.37
|
0.24
|
1190
|
38.26
|
13.45
|
0.01
|
0.12
|
Bermingham
Footwall
|
|
|
|
|
|
|
|
|
|
|
|
|
|
No Cash
|
K-19-0741
|
|
80.47
|
80.85
|
0.38
|
0.35
|
550
|
17.68
|
0.28
|
0.24
|
0.33
|
No Cash
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0743
|
|
91.91
|
92.13
|
0.22
|
0.14
|
51
|
1.64
|
0.01
|
0.03
|
0.07
|
No Cash
Splay
|
|
108.09
|
109.20
|
1.11
|
0.68
|
33
|
1.06
|
0.24
|
0.02
|
0.02
|
No Cash
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dixie
|
K-19-0750
|
|
207.26
|
208.27
|
1.01
|
0.78
|
50
|
1.62
|
0.01
|
0.21
|
0.14
|
Dixie
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0751
|
|
207.34
|
209.37
|
2.03
|
1.41
|
67
|
2.17
|
0.70
|
2.92
|
0.04
|
Dixie
Splay
|
|
213.94
|
214.72
|
0.78
|
0.54
|
244
|
7.84
|
0.33
|
1.87
|
0.03
|
Dixie
Splay
|
|
238.96
|
241.32
|
2.36
|
1.64
|
87
|
2.79
|
0.08
|
0.08
|
0.13
|
Dixie
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0752
|
|
171.32
|
172.70
|
1.38
|
1.09
|
55
|
1.75
|
0.62
|
0.26
|
0.01
|
Dixie
Splay
|
|
202.38
|
203.56
|
1.18
|
0.93
|
536
|
17.23
|
0.00
|
0.17
|
2.48
|
Dixie
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Inca
|
K-19-0745
|
|
41.00
|
41.53
|
0.53
|
0.51
|
61
|
1.95
|
0.14
|
0.10
|
0.10
|
Inca
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0748
|
|
117.55
|
128.81
|
11.26
|
8.23
|
85
|
2.74
|
0.69
|
1.82
|
0.15
|
Inca
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0749
|
|
129.65
|
132.93
|
3.28
|
2.85
|
157
|
5.04
|
0.65
|
1.35
|
0.26
|
Inca Splay
|
|
142.61
|
151.16
|
8.55
|
7.44
|
832
|
26.75
|
0.65
|
6.03
|
0.30
|
Inca
|
including
|
142.61
|
144.45
|
1.84
|
1.60
|
1190
|
38.26
|
0.75
|
2.54
|
0.35
|
|
|
146.00
|
146.52
|
0.52
|
0.45
|
1305
|
41.96
|
1.43
|
3.67
|
0.51
|
|
|
148.27
|
149.13
|
0.86
|
0.75
|
3860
|
124.10
|
2.57
|
22.50
|
1.46
|
|
|
149.13
|
149.45
|
0.32
|
0.28
|
1295
|
41.64
|
1.90
|
7.30
|
0.31
|
|
|
168.35
|
168.55
|
0.20
|
0.17
|
118
|
3.79
|
0.11
|
40.30
|
8.45
|
Inca Splay
|
|
180.79
|
181.09
|
0.30
|
0.26
|
37
|
1.19
|
0.08
|
8.45
|
0.11
|
Inca Splay
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0753
|
|
160.17
|
162.25
|
2.08
|
2.01
|
205
|
6.61
|
0.25
|
4.72
|
0.10
|
Inca
|
|
173.32
|
174.54
|
1.22
|
1.18
|
31
|
1.00
|
0.02
|
0.87
|
0.09
|
Inca Splay
|
|
178.64
|
178.90
|
0.26
|
0.25
|
36
|
1.16
|
0.04
|
26.00
|
0.32
|
Inca Splay
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0754
|
|
92.40
|
92.78
|
0.38
|
0.35
|
73
|
2.35
|
0.39
|
0.51
|
0.18
|
Inca Splay
|
|
161.00
|
169.75
|
8.75
|
8.06
|
127
|
4.09
|
0.68
|
2.64
|
0.13
|
Inca
|
including
|
167.75
|
168.15
|
0.40
|
0.37
|
2070
|
66.55
|
7.06
|
15.35
|
0.71
|
|
|
171.91
|
172.14
|
0.23
|
0.21
|
542
|
17.43
|
12.45
|
2.31
|
0.03
|
Inca
|
|
174.55
|
178.70
|
4.15
|
3.82
|
111
|
3.58
|
0.54
|
6.53
|
0.40
|
Inca
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0755
|
|
183.66
|
186.85
|
3.19
|
2.64
|
73
|
2.36
|
0.10
|
6.36
|
1.90
|
Inca
|
|
190.25
|
192.57
|
2.32
|
1.92
|
68
|
2.20
|
0.13
|
3.26
|
0.41
|
Inca
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0756
|
|
128.08
|
130.30
|
2.22
|
2.18
|
67
|
2.16
|
1.28
|
1.67
|
0.04
|
Inca
|
|
134.40
|
140.00
|
5.60
|
5.50
|
597
|
19.18
|
6.17
|
10.72
|
0.29
|
Inca
|
including
|
134.40
|
134.70
|
0.30
|
0.29
|
1365
|
43.89
|
36.34
|
13.55
|
0.46
|
|
|
135.84
|
136.41
|
0.57
|
0.56
|
2070
|
66.55
|
18.10
|
1.36
|
0.67
|
|
|
136.41
|
137.61
|
1.20
|
1.18
|
1110
|
35.69
|
3.07
|
11.45
|
0.64
|
|
|
143.70
|
144.88
|
1.18
|
1.16
|
780
|
25.08
|
0.06
|
0.46
|
0.22
|
Inca
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0757
|
|
168.54
|
170.00
|
1.46
|
1.20
|
42
|
1.33
|
0.01
|
10.15
|
0.07
|
Inca
|
|
175.38
|
176.77
|
1.39
|
1.14
|
38
|
1.21
|
0.05
|
3.08
|
0.03
|
Inca
|
|
179.69
|
182.08
|
2.39
|
1.96
|
73
|
2.35
|
0.04
|
5.79
|
0.13
|
Inca
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0758
|
|
52.22
|
63.76
|
11.54
|
7.57
|
33
|
1.05
|
0.26
|
0.68
|
0.02
|
Inca
|
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SOURCE Alexco Resource Corp.