VANCOUVER, Sept. 10, 2019 /PRNewswire/ - Alexco Resource
Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the
"Company") reports initial results from the 2019 Bermingham "deep
target" drilling program at the Keno Hill Silver District property
in Canada's Yukon Territory. The 2019 drill program was
designed to follow up prior drill results indicating potential for
deeper mineralization at Bermingham (see news release dated
January 21, 2019, entitled "Alexco
2018 Reconnaissance Drilling Confirms Continuation Of Bermingham
Mineralization at Depth and Identifies an Offset Extension,
Identifies New Gold Targets"), with a specific aim to test for the
presence of mineralization in a deeper stratigraphic zone, which
also hosts the adjacent historic Hector Calumet deposit. Success in
the 2019 Bermingham deep drilling program will now drive a much
larger follow up drilling program, the timing and drill-technology
for which is under review.
Shallower drilling has also been completed adjacent to the
Bermingham Northeast Resource Zone with the aim of expanding the
mineral resource adjacent to anticipated mining areas.
Highlights
Bermingham Deep
- K-19-0740, drilled approximately 200 meters ("m") below the
northeast portion of the Bermingham deposit, intersected the
Bermingham Footwall Vein structure over an 8.15 m true width from 580.29 m that averaged 1,414 grams per tonne
("g/t") (45.46 ounces per tonne ("oz/t")) silver ("Ag") including
two discrete veins, one with 1.51 m
true width grading 4,755 g/t (152.88 oz/t ) Ag from 580.09 m, and the other with 0.42 m true width grading 10,105 g/t (324.88
oz/t) Ag from 590.82 m.
- K-19-0732, drilled at a similar depth and 150 m southwest of K-19-0740, also intersected
the Bermingham Footwall Vein over a true width of 0.93 m grading 2,514 g/t (80.84 oz/t) Ag from
547.33 m including a true width of
0.48 m grading 4,750 g/t (152.72
oz/t) Ag over from 547.33 m.
Bermingham Northeast
- K-19-0733, drilled approximately 30
m beyond the indicated resource in the Northeast Zone,
intersected the Bear Vein over a true width of 4.13 m grading 1,331 g/t (42.79 oz/t) Ag from
329.00 m including 1.11 m true width grading 2,672 g/t (85.91 oz/t)
Ag from 329.00 m and 0.43 m true width grading 5,890 g/t Ag (189.37
oz/t) from 334.00 m.
Alexco's Chairman and Chief Executive Officer Clynt Nauman commented: "The confirmation of
high-grade silver mineralization at relatively deep levels below
our existing Bermingham deposit is first and foremost an
outstanding technical (and hopefully economic) success. This
discovery confirms our view that the Bermingham deposit, which
currently contains more than 40 million ounces of silver in all
categories may be much larger, and certainly well within the upper
quartile of historic or contemporary discoveries/deposits in the
Keno Hill Silver District. Clearly a large follow up drilling
program is now required; whether we execute this from underground
or from the surface is still under review. Either way, these
results are unlikely to alter our mine plan in the short term. In
comparison however, and as reported here, the presence of high
grade silver mineralization adjacent but beyond the current NE Zone
resource may well expand our mining opportunity in this particular
area. Again, further work is required".
Geology and Drilling Detail
The 2019 exploration drilling has confirmed the presence of an
extensive potentially deeply rooted mineralizing system at
Bermingham, characterized by wide structural zones containing
silver and base metal bearing veins up to and over 200 m depth below the outlined resource areas
where deposition may have been related to possible higher-level
boiling activity.
Drilling detail for Bermingham is as follows:
Bermingham Deep target - Five holes were completed for
3,707.5 m to test the Bermingham and
Bermingham Footwall veins within the same stratigraphy that hosted
the 96 million ounce historic producing Hector-Calumet mine located
one km to the northeast of the Bermingham deposit. Hole lengths
ranged up to 771.5 m and intersection
points were designed at wide spacings of 50 – 180 m intervals to test structural and
stratigraphic targets in a framework similar to the much shallower
Bermingham deposit.
Bermingham Northeast – Four holes were completed for
1,432 m designed to test the
potential for expanding the resource. Further drilling is now
required to more thoroughly test open ground further to the
northeast and at depth in that area.
Ongoing Drilling
Drilling continues on a series of shallow targets on Galena Hill
with an additional 2,400 m to be
completed in three primary target areas, with much of this work
guided by geophysical work carried out in 2018. The targeting
objective remains unchanged, to test for shallow, blind targets in
areas where structural and stratigraphic extrapolations indicate
the possibility for discovery of additional Bermingham or Flame
& Moth type silver deposits. Results from this work will be
available in Q4 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 – Drill Hole Details
Hole
|
Easting
(m)
|
Northing
(m)
|
Elevation
(m)
|
Length
(m)
|
Collar
Azimuth
|
Collar
Inclination
|
K-19-0731
|
479411.61
|
7086983.69
|
1343.54
|
381.80
|
288.0
|
-72.0
|
K-19-0732
|
479485.45
|
7086725.51
|
1369.39
|
635.16
|
323.0
|
-67.0
|
K-19-0733
|
479411.20
|
7086982.94
|
1343.50
|
359.00
|
275.0
|
-65.0
|
K-19-0734
|
479411.14
|
7086982.60
|
1343.50
|
368.65
|
270.0
|
-63.0
|
K-19-0735
|
479447.07
|
7087070.53
|
1339.57
|
322.11
|
300.5
|
-55.5
|
K-19-0736
|
479572.82
|
7086628.39
|
1381.61
|
758.00
|
319.0
|
-63.0
|
K-19-0737
|
479712.92
|
7086864.37
|
1376.79
|
771.50
|
295.0
|
-70.0
|
K-19-0738*
|
479573.00
|
7086628.15
|
1381.61
|
128.00
|
319.0
|
-56.5
|
K-19-0739**
|
479572.33
|
7086629.12
|
1381.42
|
723.60
|
319.0
|
-57.5
|
K-19-0740
|
479711.60
|
7086862.42
|
1377.02
|
692.00
|
290.0
|
-62.5
|
|
|
|
Total
Meters
|
5,139.82
|
|
|
*
|
Hole
Abandoned
|
**
|
Assay Results
Pending
|
Table 2 – Assay Composites
Hole
|
|
From
(m)
|
To
(m)
|
Interval
Length
(m)
|
Est. True
Width (m)
|
Ag
(g/t)
|
Ag
(oz/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Vein
Name
|
K-19-0731
|
|
308.46
|
312.05
|
3.59
|
3.05
|
308
|
9.91
|
0.90
|
1.16
|
0.21
|
Bermingham
|
|
368.90
|
370.44
|
1.54
|
0.89
|
621
|
19.97
|
1.57
|
0.99
|
0.15
|
Bear
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0732
|
|
488.27
|
488.77
|
0.50
|
0.44
|
71
|
2.28
|
0.04
|
4.63
|
0.03
|
Bermingham
|
|
495.25
|
496.19
|
0.94
|
0.83
|
56
|
1.81
|
0.51
|
7.33
|
0.24
|
Bermingham
|
|
547.33
|
548.90
|
1.57
|
0.93
|
2,514
|
80.84
|
1.16
|
0.10
|
0.62
|
Bermingham
Footwall
|
including
|
547.33
|
548.15
|
0.82
|
0.48
|
4,750
|
152.72
|
2.06
|
0.05
|
1.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0733
|
|
292.78
|
298.85
|
6.07
|
5.34
|
279
|
8.97
|
1.21
|
2.14
|
0.13
|
Bermingham
|
|
321.82
|
322.10
|
0.28
|
0.21
|
903
|
29.03
|
1.08
|
12.40
|
0.26
|
Bear splay
|
|
329.00
|
330.50
|
1.50
|
1.11
|
2,672
|
85.91
|
2.72
|
0.16
|
0.13
|
|
**
|
329.00
|
334.58
|
5.58
|
4.13
|
1,331
|
42.79
|
1.01
|
0.49
|
0.07
|
Wider Bear Vein
Zone
|
|
334.00
|
338.00
|
4.00
|
2.96
|
953
|
30.64
|
0.50
|
1.59
|
0.10
|
Bear
|
including
|
334.00
|
334.58
|
0.58
|
0.43
|
5,890
|
189.37
|
2.19
|
2.94
|
0.35
|
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0734
|
|
295.27
|
295.55
|
0.28
|
0.25
|
504
|
16.20
|
0.97
|
6.44
|
0.07
|
Bermingham
|
|
316.60
|
317.00
|
0.40
|
0.27
|
176
|
5.66
|
1.44
|
0.44
|
0.04
|
Bear splay
|
|
333.48
|
334.00
|
0.52
|
0.35
|
46
|
1.49
|
0.05
|
5.04
|
-
0.01
|
Bear
|
|
|
|
|
|
0.00
|
|
|
|
|
|
|
K-19-0735
|
|
237.68
|
238.72
|
1.04
|
0.99
|
147
|
4.73
|
0.65
|
0.35
|
0.29
|
Bermingham
|
|
241.05
|
241.94
|
0.89
|
0.85
|
137
|
4.40
|
0.61
|
1.13
|
0.04
|
Bermingham
|
|
281.79
|
282.85
|
1.06
|
0.77
|
45
|
1.45
|
0.08
|
0.16
|
0.03
|
Bear
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0736
|
|
481.39
|
482.05
|
0.66
|
0.58
|
37
|
1.20
|
0.01
|
0.12
|
0.05
|
Bermingham
|
|
715.40
|
720.32
|
4.92
|
2.95
|
60
|
1.92
|
0.76
|
0.61
|
0.05
|
Bermingham
Footwall
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0737
|
|
577.41
|
578.62
|
1.21
|
1.09
|
42
|
1.34
|
0.25
|
0.82
|
-
0.01
|
Bermingham
|
|
|
|
|
|
|
|
|
|
|
|
|
K-19-0740
|
|
170.06
|
171.78
|
1.72
|
1.12
|
51
|
1.64
|
0.32
|
0.05
|
0.12
|
Aho
|
|
556.34
|
559.36
|
3.02
|
2.90
|
273
|
8.78
|
1.64
|
0.07
|
0.07
|
Bermingham
|
|
565.79
|
567.31
|
1.52
|
1.46
|
308
|
9.90
|
0.60
|
0.06
|
0.03
|
Bermingham
splay
|
|
574.19
|
577.12
|
2.93
|
2.11
|
72
|
2.33
|
1.31
|
1.09
|
0.05
|
Bermingham
Footwall
splay
|
|
580.09
|
582.19
|
2.10
|
1.51
|
4,755
|
152.88
|
8.86
|
0.09
|
0.78
|
Bermingham
Footwall
|
including
|
580.92
|
582.19
|
1.27
|
0.91
|
7,680
|
246.92
|
14.10
|
0.12
|
1.25
|
|
|
590.40
|
594.16
|
3.76
|
2.71
|
1,609
|
51.73
|
0.33
|
0.66
|
0.22
|
Bermingham
Footwall
|
including
|
590.82
|
591.41
|
0.59
|
0.42
|
10,105
|
324.88
|
0.15
|
4.15
|
1.36
|
|
***
|
580.09
|
591.41
|
11.32
|
8.15
|
1,414
|
45.46
|
1.70
|
0.24
|
0.22
|
Wider Footwall
Vein Zone
|
|
601.17
|
602.95
|
1.78
|
1.66
|
42
|
1.35
|
0.02
|
0.04
|
0.01
|
Bear
|
|
608.63
|
610.43
|
1.80
|
1.67
|
50
|
1.59
|
0.01
|
0.02
|
0.01
|
Bear splay
|
|
|
30 g/t Ag Cut to
include up to 2 m waste
|
|
|
|
|
|
|
|
**
|
30 g/t Ag Cut to
include up to 3.5m waste
|
|
|
|
|
|
|
|
***
|
30 g/t Ag Cut to
include up to 9 m waste
|
|
|
|
|
|
|
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SOURCE Alexco Resource Corp.