Mr. Clynton Nauman reports
ALEXCO CONFIRMS, EXPANDS HIGH GRADE SILVER ZONE AT BERMINGHAM DEPOSIT; DRILLING CONTINUES
Alexco Resource Corp. has released interim results from a continuing diamond drill program in the Bermingham deposit area of the Keno Hill silver district in Canada's Yukon territory.
Initial assay results have been received from 18 of 36 holes completed to date. Drilling has confirmed and expanded the Bermingham high-grade zone (Bear zone), including a recent intercept of 7.5-metre true width of 2,715 grams per tonne (87.3 ounces per ton) silver (including 2.4 m (true width) of 6,391 g/t (205.5 ounces per ton) silver) from hole K-16-0608 drilled approximately 100 m downplunge from the deepest intercept reported in 2015. Over all, all other composite intercepts in the high-grade Bear zone now range between 504 g/t to 7,462 g/t silver over composited true thicknesses ranging from 1.3 m to 6.4 m.
Together with the high-grade intercepts from 2014 and 2015, the 2016 drilling has so far extended the high-grade silver-bearing Bear zone over at least 250 m of plunge length and a plunge width of approximately 40 m. The zone averages approximately four m true width, is locally more than seven m thick, and remains open to depth and northeasterly along strike of the productive structure(s).
Alexco chief executive officer Clynt Nauman commented: "Early results from the 2016 exploration program underscore the materiality and importance of this discovery to the future of Keno Hill. Grades from initial 2016 drill holes are impressive, ranging from 0.5 kilogram to more than six kilograms per tonne silver over sizable true widths. The style, tenor and continuity of the mineralization, plus the continuing thickness of the high-grade zone as the company drills deeper (but still less than 400 m from surface), are most encouraging. In addition, the emerging vein geometry, including the discovery of mineralized parallel (east dipping) and conjugate (west dipping) veins, reflects a structural and mineralization pattern similar to the largest deposits in the district, including the immediately adjacent historical Hector-Calumet deposit. We are very interested to see how the Bear zone develops as we chase it to depth and along trend of the various mineralized structures that are now being recognized."
Bermingham drill composite assay interval highlights:
- K-16-0608 intercepted two veins:
the Bear vein over a true width of 7.49 m from 388.87 m with a composite assay of 2,715 g/t (87.3 ounces per ton), including a 2.39 m true width from 391.05 m at 6,391 g/t (205.5 ounces per ton) silver that includes within it 0.87 m true width from 391.05 m at 7,739 g/t (248.8 ounces per ton) silver and 0.97 m true width from 394.41 m at 8,584 g/t (276.0 ounces per ton) silver, and the Bermingham vein over one m true width from 363.57 m with a composite assay of 1,243 g/t (40.0 ounces per ton) silver, including 0.21 m true width from 363.57 m at 5,790 g/t (186.2 ounces per ton) silver.
- K-16-0605 intercepted the Bear vein over a true width of 3.98 m from
276.70 m with a composite assay of 2,524 g/t (81.2 ounces per ton), including 0.08 m
true width from 277.90 m at 24,401 g/t (784.5 ounces per ton) silver, 0.48 m true
width from 282.68 m at 8,310 g/t (267.2 ounces per ton) silver and 0.31 m true
width from 285.18 m at 12,597 g/t (405.0 ounces per ton) silver.
- K-16-0602 intercepted the Bear vein over a true width of 2.93 m from
276.65 m with a composite assay of 3,265 g/t (105.0 ounces per ton), including
0.87 m true width from 278.62 m at 10,897 g/t (350.3 ounces per ton) silver.
- K-16-0584 intercepted two veins:
the Bear vein over a true width of 4.95 m from 317.00 m with a composite assay of 1,574 g/t (50.6 ounces per ton) silver, including 1.20 m true width from 322.30 m at 5,311 g/t (170.8 ounces per ton) silver, and the Bermingham vein over 2.02 m true width from 300.20 m with a composite assay of 935 g/t (30.1 ounces per ton) silver, including 0.83 m true width from 300.20 m at 2,121 g/t (68.2 ounces per ton) silver.
- K-16-0599 intercepted the Bear vein over a true width of 1.32 m from
413.10 m with a composite assay of 2,814 g/t (95.0 ounces per ton) silver.
- K-15-0587 intercepted a newly recognized west-dipping vein set over a
true width of 3.52 m from 286.25 m with a composite assay of 1,171 g/t
(37.7 ounces per ton) silver, including 1.93 m true width from 286.25 m at 2,008 g/t
(64.6 ounces per ton) silver.
The 2016 follow-up Bermingham drill program has been expanded from an initial 8,000 m program to approximately 15,500 m totalling approximately 45 holes, of which 36 have been completed. Two adjacent zones (the Etta and the Arctic zones) in the Bermingham area have a current silver resource estimate (not including the Bear zone) of 5.2 million ounces indicated (377,000 tonnes with average grade of 430 g/t) (see news release dated April 29, 2015). The historical Bermingham deposit is located on Galena Hill approximately one kilometre southwest of the historical Hector-Calumet mine and approximately five kilometres east of the Flame and Moth deposit and Keno district mill. The Hector-Calumet's historical production was 96 million ounces of silver at a reported average grade of approximately 1,214 g/t (39 ounces per ton).
The recently discovered Bear zone lies approximately 50 m to the northeast of the existing Arctic zone resource in a position controlled by a flexure in the Bermingham footwall and Bermingham vein-fault structures located stratigraphically above the inferred unique stratigraphic and structural setting occupied by the adjacent Hector-Calumet mine. Continuing exploration in 2016 is targeted to follow the high-grade mineralization downplunge into this projected stratigraphy. In terms of mineralogy, the Bear zone is characterized by the presence of a complex silver-bearing mineral assemblage including pyrargyrite (ruby silver), freibergite, argentiferous galena, stephanite, polybasite and wire silver in a dominantly sideritic gangue. Structural zones within which the mineralization is located are up to 7.5 m wide and generally flanked by shatter or fault damage zones that may be several metres wide. The mineralized structures exhibit textures indicative of prolific fluid flow, hydro-brecciation and fluid boiling during several pulses of mineralization and fault movement.
Beyond continuing geology work, remaining work in the Bear zone and general Bermingham area in 2016 includes completion of hydrological well drilling, geotechnical investigation and metallurgical testing, as well as waste rock characterization studies to support permitting activity. In addition, initial wire framing to support a new resource estimation for the Bear zone is under way and is targeted for inclusion in an updated preliminary economic assessment in the fourth quarter of 2016.
Details of the drill holes are shown in the table.
Notes
The 2016 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/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 through ALS Minerals Labs at Whitehorse, Yukon, for preparation, fire assay, multielement ICP and overlimit 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 width Ag Ag
(m) (m) (m) (m) (g/t) (oz/t)
K-16-0584 300.20 303.06 2.86 2.02 935 30.08
Including 300.20 300.20 1.18 0.83 2,121 68.19
308.00 312.54 4.54 3.21 126 4.06
317.00 324.00 7.00 4.95 1,574 50.61
Including 319.05 320.00 0.95 0.67 1,100 35.37
And 322.30 324.00 1.70 1.20 5,311 170.77
342.25 344.65 2.40 1.70 163 5.25
K-16-0585 228.69 233.32 4.63 2.66 281 9.05
Including 228.69 229.26 0.57 0.33 1,450 46.62
K-16-0586 225.00 225.90 0.90 0.69 53 1.70
237.17 238.05 0.88 0.67 44 1.41
244.50 245.25 0.75 0.57 49 1.58
K-16-0587 286.25 290.55 4.30 3.52 1,171 37.66
Including 286.25 288.60 2.35 1.93 2,008 64.57
304.27 304.50 0.23 0.19 47 1.52
308.00 308.80 0.80 0.66 44 1.41
K-16-0589 282.80 285.45 2.65 0.91 58 1.85
288.45 291.35 2.90 0.99 49 1.58
K-16-0590 209.31 214.03 4.72 4.13 679 21.82
Including 213.15 213.64 0.49 0.43 4,750 152.72
K-16-0591 190.42 191.54 1.12 0.92 113 3.65
Hole Pb Zn Au
(%) (%) (g/t)
K-16-0584 2.84 0.82 0.29
Including 4.63 0.39 0.30
0.65 0.23 0.02
8.29 1.02 0.14
Including 14.20 0.63 0.07
And 15.80 2.53 0.47
0.11 1.01 0.04
K-16-0585 0.83 0.30 0.06
Including 0.92 2.00 0.11
K-16-0586 0.07 0.22 1.80
0.13 0.75 0.09
0.17 1.14 0.07
K-16-0587 6.77 1.58 0.13
Including 11.84 2.30 0.19
0.18 0.41 0.07
0.26 0.97 0.02
K-16-0589 0.15 0.09 0.10
0.17 0.10 0.24
K-16-0590 0.83 3.27 0.07
Including 4.93 10.25 0.41
K-16-0591 0.20 1.61 0.01
Hole From To Interval True width Ag Ag
(m) (m) (m) (m) (g/t) (oz/t)
K-16-0592 273.12 274.40 1.28 0.91 59 1.90
277.75 278.43 0.68 0.48 209 6.72
320.77 320.93 0.16 0.11 67 2.14
335.30 336.61 1.31 0.93 709 22.80
Including 335.30 336.00 0.70 0.49 1,125 36.17
K-16-0593 186.26 187.00 0.74 0.25 93 2.98
K-16-0594 133.66 136.67 3.01 2.68 422 13.56
Including 136.20 136.67 0.47 0.42 2,480 79.74
K-16-0597 221.00 222.93 1.93 0.97 34 1.08
K-16-0598 244.50 245.00 0.50 0.21 43 1.38
256.02 257.00 0.98 0.41 278 8.92
261.66 262.25 0.59 0.25 68 2.17
K-16-0599 413.10 414.87 1.77 1.32 2,814 90.49
Including 413.10 414.87 1.62 1.20 3,075 98.87
K-16-0600 288.10 295.15 7.05 2.98 70 2.24
297.40 302.50 5.10 2.16 504 16.22
Including 301.05 301.30 0.25 0.11 7,900 253.99
K-16-0602 276.65 280.80 4.15 2.93 3,265 104.97
Including 278.62 280.15 1.23 0.87 10,897 350.34
285.62 288.60 2.98 0.26 139 4.47
292.10 294.06 1.96 0.17 31 0.99
296.10 298.20 2.10 0.18 33 1.06
K-16-0603 278.00 284.07 6.07 2.57 128 4.12
Including 280.32 280.46 0.14 0.06 1,410 45.33
Hole Pb Zn Au
(%) (%) (g/t)
K-16-0592 0.12 0.11 0.08
0.44 0.76 0.03
0.04 2.07 0.01
0.16 5.56 0.12
Including 0.25 0.21 0.21
K-16-0593 1.49 1.23 0.20
K-16-0594 0.43 0.34 0.06
Including 1.91 0.21 0.19
K-16-0597 0.21 0.26 0.01
K-16-0598 0.11 0.15 0.01
0.83 0.77 0.02
0.12 0.10 0.06
K-16-0599 18.92 0.30 0.37
Including 20.67 0.32 0.40
K-16-0600 0.28 0.15 0.01
1.10 0.99 0.08
Including 18.55 5.12 1.1
K-16-0602 5.42 3.11 0.41
Including 17.74 10.23 1.26
1.67 0.20 0.04
0.11 0.21 0.15
0.14 0.27 0.25
K-16-0603 0.31 0.63 0.07
Including 3.60 3.75 0.15
Hole From To Interval True width Ag Ag
(m) (m) (m) (m) (g/t) (oz/t)
K-16-0605 270.94 272.71 1.77 0.75 246 7.91
276.70 288.33 11.63 3.98 2524 81.15
Including 277.90 278.10 0.20 0.08 24,401 784.52
And 282.68 284.08 1.40 0.48 8,310 267.18
And 285.18 286.09 0.91 0.31 12,597 405.02
K-16-0608 363.57 365.58 2.01 1.00 1,243 39.97
Including 363.57 363.98 0.41 0.21 5,790 186.16
388.87 406.59 17.72 7.49 2,715 87.29
Including 391.05 396.70 5.65 2.39 6,391 205.48
That
includes 391.05 393.11 2.06 0.87 7,739 248.82
And includes 394.41 396.70 2.29 0.97 8,584 275.98
And 400.49 402.02 1.53 0.65 5,226 168.02
And 404.18 404.69 0.51 0.22 1,090 35.04
And 406.24 406.59 0.35 0.15 3,440 110.60
Hole Pb Zn Au
(%) (%) (g/t)
K-16-0605 0.46 1.13 0.06
5.38 1.70 0.18
Including 1.51 2.76 2.5
And 15.24 10.70 0.66
And 36.07 1.05 0.69
K-16-0608 4.15 3.78 0.26
Including 17.95 7.18 0.94
12.24 3.07 0.35
Including 33.42 4.87 0.61
That
includes 61.81 2.83 0.78
And includes 24.75 9.40 0.78
And 9.46 6.09 0.73
And 1.17 0.10 0.2
And 14.75 0.17 0.48
We seek Safe Harbor.
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