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 July 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: July 27, 2020 |
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Mike Clark
Chief Financial Officer |
Exhibit 99.1
Alexco Receives Final Water Use License
for Keno Hill, Provides Operations and Corporate Update
VANCOUVER, BC, July 27, 2020 /CNW/ - Alexco Resource
Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company")
today announced that it has received from the Yukon Water Board (the "Water Board") the final amended and renewed
Water Use License (the "WUL") for the Keno Hill Silver District (the "District" or "Keno
Hill"). The Company also provided an update on Keno Hill mining operations, exploration and other corporate matters.
Mining Operations Update
With the recent announcement of the Company's
decision to move to production at Keno Hill, site activities have rapidly ramped up and are progressing according to plan. With
the increasing activity, Alexco's primary focus continues to be the health and safety of our employees, contractors and the communities
in which we operate and our COVID-19 management plan continues with strict prevention measures in place, consistent with the guidelines
of the Yukon Government and health officials.
Underground activities are currently focused
on rehab and services at the Bellekeno mine, which will be the first mine to deliver ore to the mill in Q4, 2020. Underground development
at Flame & Moth will begin in August, and Bermingham in September once surface facilities including the water treatment plant
are commissioned. Initial delivery of the new underground mining fleet including loaders, trucks, jumbos, and bolters has begun
and all major underground equipment units are on schedule for delivery consistent with the underground development schedule. The
current focus of surface construction activities is the completion of camp expansion facilities, administration complex and support
facilities as well as mill upgrades and modifications. The secondary ball mill has been set and the concentrate regrind mills and
tailings filter press have been delivered to site. All other long lead time equipment, both surface and underground, is either
on order or in transit and delivery and construction timelines remain consistent with the overall development schedule.
The Company continues to advance with recruitment
and onboarding of the Keno Hill operations team. The senior management team at Keno Hill is in place and key supervisors, operators,
miners and certified maintenance trades continue to be recruited, with a current count of 65 employees on board at Keno Hill. In
addition, approximately 25 contract personnel are providing services with the majority of the vendors having partnership or joint
venture arrangements in place with the First Nation of Na-Cho Nyak Dun Development Corporation.
Overall, the development and production plan
continues to be on pace for mill commissioning and silver concentrate production in Q4 2020.
2020 Surface Exploration Update
Surface exploration drilling targeting the
down plunge extensions of the high grade Bermingham deposit has begun. The initial 4,200 meters ("m") drilling
campaign will test for extensions of the previously discovered silver mineralization approximately 200 m vertically below
the NE Zone of the Bermingham deposit, which overall contains an Indicated Mineral Resource of 32.9 million ounces of silver at
an average grade of 930 grams per tonne ("g/t") silver. The 2020 exploration drilling program will be focused
at depth, approximately 250 m along strike northeast of the silver mineralization discovered in 2019, where best results returned
1,414 g/t silver over an estimated true width of 8.15 m in the Bermingham Footwall vein structure (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)".
Receipt of WUL
On July 23, 2020 the Yukon Water Board issued
the final WUL authorizing Alexco to source and use water as well as deposit designated waste streams into approved facilities in
and around planned production centres at the Bellekeno, Flame & Moth, and Bermingham mines as well as the District's mill facility.
The term of the License is 17 years and the conditions of the final WUL are substantially the same as the draft WUL previously
announced on June 24, 2020 (see press release dated June 24, 2020 entitled "Alexco Moves Forward to Production at Keno Hill").
For complete details on the terms and conditions of the WUL, a copy can be found on the Water Board's website at https://apps.gov.yk.ca/waterline/f?p=127:LOGIN.
Clynt Nauman, Chairman and Chief Executive
Officer, commented, "With the final WUL now issued, construction and development operations advancing, and other commercial
arrangements advancing on schedule in a strengthening silver pricing environment, we are well on our way to become Canada's only
primary silver producer. As scheduled, we look forward to commencing mine production and expect to be shipping concentrate in Q4
2020".
Changes to Board of Directors
Alexco also announced today that Mr. Michael
Winn has resigned from Alexco's Board of Directors (the "Board") effective immediately in order to focus on his increasing
responsibilities at other publicly listed companies. Mr. Winn was a founding Board member of Alexco and served as its Chairman
from 2006 through 2010 and again in 2015 to 2016. Mr Winn will remain as a Strategic Advisor to Alexco's Board of Directors going
forward.
Mr. Nauman added, "I would like to thank
Michael for his dedication and extensive contributions to Alexco over the past 15 years. The Company has benefitted greatly from
Michael's advice and Board leadership and we are privileged to have him continue on as a Strategic Advisor to Alexco, while also
wishing him success in his other future endeavors".
2020 Second Quarter Results
Alexco will release its second quarter 2020
financial results after market close on Wednesday, August 12, 2020. Management will host an audio webcast conference call to review
the results on Thursday, August 13, 2020 at 3:00 pm Eastern Time (Noon Pacific Time). To participate in the live call, please use
one of the following methods:
Dial toll free from Canada or the US:
1-800-319-4610
Dial from outside Canada or the US: 1-604-638-5340
Confirmation Code#:
Ask to join the Alexco conference call
Live audio webcast: http://services.choruscall.ca/links/alexco202000813.html
Participants should connect five to ten minutes
before the call. The conference call will be recorded and an archived audio webcast will be available at www.alexcoresource.com after
the call.
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 production
and 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.
Please visit the Alexco website at 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, 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-receives-final-water-use-license-for-keno-hill-provides-operations-and-corporate-update-301099713.html
SOURCE Alexco Resource Corp.
View original content: http://www.newswire.ca/en/releases/archive/July2020/27/c2199.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 08:00e 27-JUL-20
This regulatory filing also includes additional resources:
ex991.pdf
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