10:24:18 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Alexco Resource Corp
Symbol AXR
Shares Issued 69,588,898
Close 2014-11-04 C$ 0.54
Market Cap C$ 37,578,005
Recent Sedar Documents

Alexco drills 6.39 m of 5,667 g/t Ag at Bermingham

2014-11-05 06:00 ET - News Release

Mr. Clynton Nauman reports

ALEXCO DRILLS BEST HOLE EVER: INTERSECTS 5,667 GRAMS PER TONNE SILVER OVER 6.39 METERS (TRUE WIDTH) AT BERMINGHAM; MINERALIZATION EXTENDED AND REMAINS OPEN

Alexco Resource Corp. has released results from the 2014 resource extension drilling program at its Bermingham deposit in the Keno Hill silver district in Yukon. The Bermingham deposit, which has a current indicated resource of 3.8 million ounces of silver and a current inferred resource of 1.2 million ounces of silver, is located approximately five kilometres east of the Flame & Moth deposit and the district mill. Bermingham is adjacent to the historical Hector-Calumet mine which produced 96 million ounces of silver at a reported average grade of approximately 1,090 grams per tonne.

In 2014, an additional 2,667 metres of drilling was completed in eight holes to both infill and extend Bermingham mineralization to the northeast, toward the Hector-Calumet deposit. Results from this drilling include drill hole K-14-0537 which intercepted 6.39 metres (true width) with a composite silver grade of 5,667 grams per tonne silver (165.3 ounces per ton), which included 1.81 metres (true width) assaying 18,270 grams per tonne (532.9 ounces per ton) silver. Three other holes within 200 metres of drill hole K-14-0537 intercepted between 529 grams per tonne and 714 grams per tonne silver over true widths ranging from 3.03 metres to 7.97 metres as outlined in the highlights below. Over all, work in 2014 has systematically extended mineralization at Bermingham approximately 400 metres northeasterly beyond the existing Etta zone resource, and steadily toward the inferred unique stratigraphic and structural setting occupied by the adjacent Hector-Calumet mine. A new resource estimate for Bermingham is expected to be completed in early 2015.

Alexco president and chief executive officer Clynt Nauman commented: "The exceptional 2014 results from work at the Bermingham deposit, including hole K-14-0537, which is the best hole ever drilled by Alexco at Keno Hill, are the result of systematic exploration over a number of years. These exploration results appear to be leading us toward previously unknown and untested ground on one of the most productive structures in the entire silver district. Much more work is warranted, the geology and structural setting is complex, but the address is as good as it gets in the Keno Hill silver district. The potential for another significant silver discovery of Flame & Moth tenor and size is clearly evident from our 2014 success."

Bermingham drill assay highlights from 2014:

  • K-14-0524 intercepted the Bermingham structure over a true width of approximately 7.97 metres from 236.40 metres with a composite silver grade of 545 grams per tonne (15.9 ounces per ton), that included 0.41 metre true width from 237.00 metres that graded 3,260 grams per tonne (95.1 ounces per ton) silver, 0.25 metre true width from 237.50 metres that graded 1,400 grams per tonne (40.8 ounces per ton) silver and 0.58 metre true width from 244.30 metres that graded 1,600 grams per tonne (46.7 ounces per ton) silver.
  • K-14-0531 intersected the Bermingham vein over 4.90 metres true width from 233.00 metres with a composite assay value of 529 grams per tonne (15.4 ounces per ton) silver that included 0.45 metre true width from 233.00 metres that graded 951 grams per tonne (27.7 ounces per ton) silver and 0.28 metre true width from 237.56 metres that graded 3,260 grams per tonne (95.1 ounces per ton) silver.
  • K-14-0537 intersected the Bermingham vein over 6.39 metres true width from 280.00 metres with a composite assay value of 5,667 grams per tonne (165.3 ounces per ton) silver that included 1.81 metres true width from 284.35 metres that averaged 18,270 grams per tonne (532.9 ounces per ton) silver, with a high individual assay value of 58,529 grams per tonne (1,707.1 ounces per ton) silver and 1.81 grams per tonne gold over a true width of 0.31 metre from 285.1 metres.
  • K-14-0538 intersected the Bermingham vein over 3.03 metres true width from 271.83 metres with a composite assay value of 714 grams per tonne (20.8 ounces per ton) silver that included 0.41 metre true width from 275.00 metres that graded 4,850 grams per tonne (141.5 ounces per ton) silver.

A systematic program of exploration drilling at Bermingham since 2009 has identified high-grade silver mineralization. Generally this mineralization has been over four to 26 metres thick located in broader zones of lower-grade mineralization, while also being located within 1.2 kilometres of the historical Hector-Calumet mine which produced a reported 96 million ounces of silver. The vein-style mineralization at Bermingham is located in a series of fault offset panels in which significant silver mineralization has developed within several broad intervals that can now be traced over an 800-metre strike length. Within this zone, Alexco previously identified silver resources in the Etta zone (in the hangingwall of the postmineral Mastiff fault), and mineralized material in the Arctic zone (in the footwall of the fault) along a 400-metre strike length to a depth of approximately 350 metres. In 2012, a resource estimate outlined 3.8 million ounces of indicated silver resource and a further 1.2 million ounces of inferred silver resource within the Etta zone (see news release dated June 28, 2012, entitled "Alexco Announces Initial Resource Estimates for Flame & Moth and Bermingham"). To the northeast of this, the fault offset Arctic zone extension was also determined to be significantly mineralized.

The 2014 drilling program infilled and extended the Arctic zone mineralization to the northeast, and identified that further significant potential exists deeper, but still within surface drilling depth, in the Hector-Calumet mine host stratigraphy.

The Bermingham mineralized system remains open in all directions, especially to the northeast where linkage to the Hector-Calumet mine remains to be resolved, but also to the southwest where there remains a kilometre of untested ground between the Bermingham prospect and the historical Coral Wigwam prospect.

The 2014 exploration drill program and sampling protocol have been reviewed, verified and compiled by Alexco's geologic staff under the supervision of Alan McOnie, vice-president, exploration, for Alexco, a qualified person as defined by National Instrument 43-101. A rigorous quality control and quality assurance protocol is used on the project, including blank, duplicate and standard reference samples in each batch of 20 samples delivered to the assay lab. Drill core samples were shipped to ALS Minerals Labs at Whitehorse, Yukon, for preparation, with fire assay and multielement ICP analyses completed at the ALS Minerals facility in North Vancouver, B.C. The disclosure of scientific and technical information about Alexco's mineral projects contained in this news release has also been reviewed and approved by Mr. McOnie.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.