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 November 2020. |
Commission File
Number 001-33621 |
ALEXCO RESOURCE
CORP.
(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
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: November 24, 2020 |
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Mike Clark
Chief Financial Officer |
Exhibit 99.1
Alexco Announces Commissioning and Initial
Concentrate Production at the Keno Hill Silver District Mill
VANCOUVER, BC, Nov. 24, 2020 /CNW/ - Alexco
Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") is pleased to announce
commissioning of the Keno Hill District Mill (the "Mill") commencing as scheduled, with initial production of lead/silver
and zinc concentrates underway. The initial ore source for Mill commissioning is the Bellekeno underground mine where drilling,
blasting and extraction of ore from long hole stopes continues.
Clynt Nauman, Chairman and CEO commented, "Initial
commissioning of our mill is a significant milestone on our journey toward establishing Alexco as Canada's only primary silver
producer. This achievement has only been possible with the hard work and determination of all our employees and contractors who
have worked safely to deliver this milestone. Congratulations to all! There is still a lot of work ahead in our ramp up and underground
development programs at the Bermingham and Flame and Moth operations, which are scheduled to sequentially replace Bellekeno ore
feed over the course of the first half of 2021.
Total personnel employed at Keno Hill now includes
just over 150 employees and contractors with over 93% residing in either Yukon or British Columbia. In the near term, underground
development activities are continuing at both the Flame and Moth and Bermingham mines with focus on advancements of the primary
ramps and haulage ways, establishing vent level access and installing remaining underground infrastructure. Contract raise crews
are scheduled to mobilize in early December to begin installation of the Bermingham surface raise. The majority of surface infrastructure
and mill projects are nearing completion, including the recent commissioning of the Bermingham water treatment plant.
2020 Exploration Program
Alexco's surface exploration drilling program,
which is testing the Bermingham "deep" target, is complete with drilling and surface exploration crews scheduled to demobilize
by the end of November. In total, this year's surface exploration program drilled 7,653 meters with 11 holes reaching the target
zone and incurring a direct program cost of approximately $3.5 million. Results from this drilling program are expected to be released
next month or in January 2021, depending on receipt of assay results. In the meantime, underground infill and extension/exploration
drilling will begin as scheduled in early 2021.
COVID-19 Update, Ramp Up Schedule
On November 20, 2020, the Yukon Government
announced 14-day self isolation requirements for persons entering Yukon that are not deemed critical workers. The Company is preparing
an operations plan to firstly, maintain development activities at Keno Hill while adhering to current health directives and Yukon
government's travel restrictions and secondly, assessing the longer-term scheduling impact of alternative development and ore supply
strategies in light of new COVID-19 protocols and restrictions.
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, while that regarding mine development and operations has been reviewed and approved
by Neil Chambers, P.Eng., Chief Mine Engineer, both of whom are Qualified Persons as defined by National Instrument 43-101 –
Standards of Disclosure for Mineral Projects ("NI 43-101").
About Alexco
Alexco is a Canadian primary silver company
that owns and operates the majority of the historic Keno Hill Silver District, in Canada's Yukon Territory, one of the highest-grade
silver deposits in the world. Alexco is currently advancing Keno Hill to production and expects to start concentrate shipments
in Q4 2020. As per Alexco's 2020 pre-feasibility study, Keno Hill is expected to produce an average of approximately 4 million
ounces of silver per year contained in high quality lead/silver and zinc concentrates. Total production over an 8-year mine life
is estimated at 1.18 million tonnes of ore at an average rate of 430 tonnes per day at an average grade of 805 grams per tonne.
Keno Hill retains significant potential to grow and Alexco has a long history of expanding the operation's Mineral Resources through
successful exploration.
www.alexcoresource.com
Some statements ("forward-looking statements")
in this news release contain forward-looking information plans related to Alexco's business and other matters that may occur in
the future, made as of the date of this news release. 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 risks and uncertainties relating to the COVID-19
pandemic including but not limited to business closures, travel restrictions, quarantines and a general reduction in consumer
activity; actual results and timing of exploration and development, mining, environmental services and remediation and reclamation
activities; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineral 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 circumstances
surrounding the COVID-19 pandemic, although evolving, will stabilize or at least not worsen; that the extent to which COVID-19
may impact the Company, including without limitation disruptions to the mobility of Company personnel, costs associated with implementation
of health and safety protocols, increased labour and transportation costs, and other related impacts, will not change in a materially
adverse manner; Alexco will be able to raise additional capital as necessary, that the proposed exploration and development activities
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.
View original content:http://www.prnewswire.com/news-releases/alexco-announces-commissioning-and-initial-concentrate-production-at-the-keno-hill-silver-district-mill-301180141.html
SOURCE Alexco Resource Corp.
View original content: http://www.newswire.ca/en/releases/archive/November2020/24/c2363.html
%CIK: 0001364128
For further information: Clynton R. Nauman, Chairman and Chief
Executive Officer; Kettina Cordero, Director of Investor Relations, Phone: (778) 945-6577, Email: info@alexcoresource.com
CO: Alexco Resource Corp.
CNW 17:01e 24-NOV-20
This regulatory filing also includes additional resources:
ex991.pdf
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