Mr. Clynt Nauman reports
ALEXCO DRILLS 5 METERS (TRUE WIDTH) OF 7,462 GRAMS PER TONNE SILVER (240 OUNCES PER TONNE) AT BERMINGHAM, ALONG WITH OTHER SIGNIFICANT SILVER INTERCEPTS
Alexco Resource Corp. has released results from its 2015 drilling program at the Bermingham deposit in the Keno Hill silver district in Canada's Yukon Territory.
Significant true width intercepts of 4.98 metres grading 7,462 grams per tonne (240.0 ounces per ton) silver, 4.76 m grading 2,357 g/t (75.8 ounces per ton) silver, 2.35 m of 3,774 g/t (121.3 ounces per ton) silver and ranging down to 1.81 m grading 794 g/t (25.5 ounces per ton) silver were returned from drill holes in the 2015 program.
Together with the high-grade discovery intercept from the 2014 drill program (6.39 m grading 5,667 g/t (182.2 ounces per ton)) silver, the 2015 drilling has now identified a high-grade silver and gold-bearing zone over at least 140 m downplunge across a width of approximately 40 m. The zone averages 3.7 m true thickness, is locally more than 5.5 m thick, and remains open both updip and downdip.
Alexco president and chief executive officer Clynt Nauman commented: "The discovery of this open-ended, very high-grade silver- and gold-bearing zone within the Bermingham area may be a game changer for the future of Keno Hill. Clearly, grades ranging from approximately 0.8 kilogram to more than seven kilograms per tonne of silver with up to two g/t of gold over sizable true widths in several drill holes is a significant discovery. Although Keno Hill is historically known for the presence of local high-grade zones, the style and tenor of this discovery is consistent with zones often associated within the largest and highest-grade silver deposits in the district. Simply stated, this is a relatively shallow, very high-grade discovery in the immediate neighbourhood of large, high-grade silver deposits; namely the adjacent Hector Calumet, Elsa and other historical deposits."
The 2015 exploration program totalled 2,595 m focused on extension and expansion of the previously identified Bermingham resource. The Bermingham deposit, which has a current silver resource estimate (not including the most recent drill results) of 5.2 million ounces indicated (377,000 tonnes with average grade of 430 g/t) and 800,000 ounces inferred (52,000 tonnes with an average grade of 477 g/t) (see news release dated April 29, 2015). The deposit is located on Galena Hill approximately 1.1 kilometres southwest of the historical Hector-Calumet mine and approximately five kilometres east of the Flame and Moth deposit, and District mill. The Hector-Calumet mine's historical production was 96 million ounces of silver at a reported average grade of approximately 1,090 g/t (39 ounces per ton).
Bermingham vein drill composite assay interval highlights (refer to the table for complete results):
- K-15-0580 intercepted 4.98 m true width from 305.46 m with a
composite assay value of 7,462 g/t (239.9 ounces per ton) silver, including 3.65
m true width from 306.89 m with a composite assay of 10,186
g/t (327.5 ounces per ton) silver.
- K-15-0582 intercepted 4.76 m true width from 303.16 m with a
composite assay value of 2,357 g/t (75.8 ounces per ton) silver, that included
4.17 m true width from 303.16 m with a composite assay value
of 2,686 g/t (86.4 ounces per ton) silver.
- K-15-0583 intercepted 2.35 m true width from 346.25 m with a
composite assay value of 3,774 g/t (121.3 ounces per ton) silver, that included
1.46 m true width from 346.25 m with a composite assay value
of 6,049 g/t (194.5 ounces per ton) silver.
- K-15-0576 intercepted 2.60 m true width from 243.42 m with a
composite assay value of 1,129 g/t (36.3 ounces per ton) silver, that included
1.99 m true width from 243.42 m with a composite assay value
of 1,471 g/t (47.3 ounces per ton) silver.
- K-15-0577 intercepted 1.81 m true width from 272.00 m with a
composite assay value of 794 g/t (25.5 ounces per ton) silver, that included a
0.79 m true width from 273.41 m with a composite assay value of
1,827 g/t (58.7 ounces per ton) silver.
This recently discovered high-grade zone within the Bermingham deposit lies approximately 50 m to the northeast of the existing Arctic zone resource in a position controlled by flexure in the vein-fault structure that is stratigraphically above the inferred unique stratigraphic and structural setting occupied by the adjacent Hector-Calumet mine (see news release dated Nov. 5, 2014). Further exploration, specifically to follow the high-grade mineralization both downplunge toward the more highly silicified stratigraphy, as well as updip at least 200 m into untested areas, is warranted. In terms of mineralogy, the high-grade mineralized zone is characterized by the presence of the silver-bearing mineral pyrargyrite in association with argentiferous galena, tetrahedrite freibergite and wire silver in a dominantly sideritic gangue.
Over all, the Bermingham mineralized system remains open in all directions, especially to the northeast where potential 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.
Updated composite assay tables, along with a drill hole location map and a long section plot, for the drill holes are available for review on the company's website.
Notes
The 2015 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 and a qualified person as defined by National Instrument 43-101. A rigorous quality assurance and quality control 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.
BERMINGHAM DRILL RESULTS
Hole From To Interval True Ag
(m) (m) (m) width (g/t)
(m)
K-15-0576 243.42 246.73 3.31 2.60 1,129
including 243.42 245.96 2.54 1.99 1,471
including 243.42 243.58 0.16 0.13 1,945
including 243.78 243.97 0.19 0.15 9,660
including 245.61 245.96 0.35 0.27 4,200
K-15-0577 272.00 274.49 2.49 1.81 794
including 273.41 274.49 1.08 0.79 1,827
including 273.41 273.57 0.16 0.12 1,330
including 273.81 274.08 0.27 0.20 2,980
including 274.08 274.49 0.41 0.30 2,310
K-15-0578 280.16 290.03 9.87 6.98 322
including 284.83 285.67 0.84 0.59 1,200
including 287.00 287.70 0.70 0.49 1,010
including 289.57 289.86 0.29 0.21 3,250
K-15-0579 230.00 235.34 5.34 4.15 237
246.45 250.01 3.56 2.77 115
Hole Ag Ag Au Pb Zn
(oz/t) (oz/t) (g/t) (ppm) (ppm)
K-15-0576 36.30 32.93 0.10 16,395 21,890
47.3 42.90 0.13 21,365 28,526
62.53 56.73 0.09 25,700 35,100
310.58 281.75 0.67 114,000 240,000
135.04 122.50 0.55 77,900 39,700
K-15-0577 25.53 23.16 0.08 59,098 3,293
58.74 53.29 0.19 136,039 6,914
42.76 38.79 0.15 103,000 33,300
95.81 86.92 0.29 168,500 258
74.27 67.37 0.21 206,400 553
K-15-0578 10.35 9.39 0.04 4,026 7,105
38.58 35.00 0.14 11,150 452
32.47 29.46 0.16 6,040 13,600
104.49 94.79 0.30 34,400 52,800
K-15-0579 7.62 6.91 0.01 943 809
3.70 3.35 0.02 11,717 1,477
Hole From To Interval True Ag
(m) (m) (m) width (g/t)
(m)
K-15-0580 305.46 312.10 6.64 4.98 7,462
including 306.89 311.75 4.86 3.65 10,186
including 308.50 308.75 0.25 0.19 4,890
including 309.10 309.52 0.42 0.32 17,544
including 309.52 310.00 0.48 0.36 26,953
including 310.00 310.21 0.21 0.16 23,766
including 310.21 310.38 0.17 0.13 29,310
including 310.38 310.64 0.26 0.20 21,183
including 310.64 311.06 0.42 0.32 11,459
including 311.06 311.35 0.29 0.22 20,246
including 311.35 311.75 0.40 0.30 4,150
K-15-0581 283.31 284.35 1.04 0.81 98
290.00 291.22 1.22 0.95 37
K-15-0582 303.16 309.80 6.64 4.76 2,357
including 303.16 308.98 5.82 4.17 2,686
including 305.78 306.51 0.73 0.52 1,180
including 307.77 308.18 0.41 0.29 21,089
including 308.18 308.61 0.43 0.31 5,470
including 308.61 308.98 0.37 0.27 6,330
K-15-0583 346.25 349.73 3.48 2.35 3,774
including 346.25 348.42 2.17 1.46 6,049
368.08 369.03 0.95 0.64 80
Hole Ag Ag Au Pb Zn
(oz/t) (oz/t) (g/t) (ppm) (ppm)
K-15-0580 239.91 217.64 0.65 88,560 4,347
327.48 297.09 0.87 120,335 5,412
157.22 142.62 0.45 40,700 8,640
564.06 511.70 1.54 268,200 38,400
866.57 786.12 2.27 531,000 3,290
764.11 693.17 2.25 180,500 915
942.35 854.87 2.14 351,500 284
681.06 617.83 2.09 169,500 649
368.40 334.22 0.87 75,800 3,140
650.93 590.50 1.35 98,400 409
133.43 121.04 0.30 9,060 355
K-15-0581 3.13 2.86 0.07 68,200 1,110
1.17 1.08 0.02 427 5,270
K-15-0582 75.78 68.75 0.29 53,384 41,164
86.37 78.34 0.33 60,756 46,762
37.94 34.42 0.09 16,750 13,450
678.04 615.09 2.79 306,500 139,000
175.87 159.54 0.89 81,200 215,000
203.52 184.62 0.52 426,500 65,300
K-15-0583 121.34 110.07 0.41 112,882 16,626
194.49 176.43 0.65 180,920 26,591
2.56 2.33 0.13 884 1,170We seek Safe Harbor.
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