Mr. Clynt Nauman reports
ALEXCO COMPLETES 2017 SURFACE EXPLORATION PROGRAM, EXPANDS BERMINGHAM SILVER DEPOSIT, ADVANCES UNDERGROUND DEVELOPMENT
Alexco Resource Corp. has released results from its 2017 surface exploration drilling program in the vicinity of the Bermingham deposit in the Keno Hill silver district (KHSD) in Canada's
Yukon Territory. Numerous significant silver-rich intercepts have been received from 28 of the 37 holes drilled in two target areas proximal to the Bermingham resource, and a third shallower new exploration target area approximately 200 metres to the northeast. True width intercepts ranging from 5.15 m grading 1,547 grams/tonne (49.73 ounces/tonne) silver in hole K-17-0658 and 5.01 m grading 2,464 g/t (79.23 ounces per ton) Ag in drill hole K-17-0643, along with numerous other significant intercepts demonstrate expansion of the Bermingham deposit along strike and down plunge. True width intercepts up to 4.20 m grading 2,518 g/t (80.95 ounces per ton) Ag in hole K-17-0663 approximately 200 m to the northeast of the high-grade Bear vein represent a new discovery which remains open along strike.
Alexco chairman and chief executive officer Clynt Nauman commented: "Two important conclusions come from our 2017 exploration work. First, we can be pretty confident that the Bermingham silver resource (currently estimated to contain an indicated 17 million ounces of silver) will be expanded; and second, the deposit is clearly open at depth where strong structures and related mineralization project into increasingly favourable stratigraphy. As we systematically expand drilling coverage, our understanding of the interconnected mineralized vein systems at Bermingham is becoming one of local very high-grade shoots such as the Bear vein where our current preliminary economic assessment mine plan identifies 220,000 potentially minable tonnes grading 1,276 g/t Ag, sitting within more extensive zones of lower-grade mineralization with true widths up to 8.62 m thick grading more than 600 g/t Ag as identified in recent drill hole K-17-0653. This pattern of mineralization very much reflects a large hydrothermal system with distinct similarities to the adjacent historic Hector-Calumet deposit. Furthermore, with our exploration model becoming ever more refined, we are actively generating and ranking new silver targets across the Keno Hill silver district which we will start to test in 2018."
Geology and drilling
The 2017 Bermingham surface drill program was completed in early September with 37 holes totalling 13,832 metres of diamond core drilling. This drilling was conducted at relatively wide spacing in three zones to further explore structural targets adjacent to, or along strike of, the existing Bermingham deposit resource that includes 858,000 tonnes with an average grade of 628 g/t silver totalling 17.3 million ounces of silver in the indicated category (see news release dated Dec. 8, 2016).
The three target zones were:
- The SW zone, targeting the Bermingham, Bermingham footwall and Bear veins within a 100 by 200 m window of previously unexplored structure located immediately to the southwest of the Arctic zone resource in the footwall of the Mastiff cross fault;
- The Mid zone, a fault bounded panel of the Bermingham vein adjacent to and below the planned mining zone and in the hangingwall of the Bear and Bermingham footwall vein resource areas;
- The NE zone, a fault offset panel of the Bear vein in the footwall of the Ruby B fault, located 200 m northeast of the current resource area.
Bermingham drill composite assay interval highlights
Refer to the table for drill hole details. All true widths are calculated from modelled vein attitude and drill hole intercept orientation.
In the SW zone:
-
K-17-0658 intersected the Bear vein grading 1,547 g/t (49.73 ounces per ton) Ag over a true width of 5.15 m from 375.40 m.
- K-17-0668 intersected the Bermingham vein grading 1,447 g/t (46.53 ounces per ton) Ag over a true width of 4.18 m from 352.25 m, including an interval of 6,730 g/t (216.38 ounces per ton) Ag over a true width of 0.66 m from 355.10 m.
- The hole also intersected the Bear vein grading 1,469 g/t (47.24 ounces per ton) Ag over a true width of 2.21 m from 370.25.
- K-17-0653 intersected the Bermingham vein grading 1,678 g/t (53.96 ounces per ton) Ag over a true width of 3.40 m from 350.48 m.
- K-17-0641 intersected the Bermingham vein grading 1,190 g/t (38.26 ounces per ton) Ag over a true width of 2.44 m from 341.33 m.
- K-17-0645 intersected the Bermingham vein grading 2,056 g/t (66.10 ounces per ton) Ag over a true width of 1.09 m from 347.27 m.
- K-17-0662 intersected the Bermingham vein grading 2,757 g/t (88.64 ounces per ton) Ag over a true width of 1.03 m from 305.11 m.
- K-17-0664 intersected the Bermingham vein grading 6,620 g/t (212.84 ounces per ton) Ag over a true width of 0.53 m from 359.50 m.
In the Mid zone below the planned mine blocks:
- K-17-0643 intersected the Bermingham vein grading 2,464 g/t (79.23 ounces per ton) Ag over a true width of 5.01 m from 399.40 m, including a 0.70 m true width interval grading 12,003 g/t (385.91 ounces per ton) Ag from a depth of 404.20 m.
In the NE zone:
- K-17-0659 intersected the Bear vein grading 1,214 g/t (39.02 ounces per ton) Ag over a true width of 5.05 m from 311.50 m, that included 3,180 g/t (102.24 ounces per ton) Ag over a true width of 0.14 m from 311.50 m, and 2,096 g/t (67.38 ounces per ton) Ag over a true width of 2.65 m from 314.30 m.
- K-17-0663 intersected the Bear vein grading 2,518 g/t (80.95 ounces per ton) Ag over a true width of 4.20 m from 331.80 m, that included 8,905 g/t (286.30 ounces per ton) Ag over a true width of 1.10 m from 334.50 m.
- K-17-0669 intersected the Bear vein grading 704 g/t (22.64 ounces per ton) Ag over a true width of 3.76 m from 321.07 m, that included 2,567 g/t (82.54 ounces per ton) Ag over a true width of 0.97 m from 325.19 m.
- K-17-0671 intersected the Bermingham vein grading 10,126 g/t (325.55 ounces per ton) Ag over a true width of 0.21 m from 271.05 m.
The emerging geological picture at Bermingham is one of a complex system of interconnected mineralized vein shoots related to a strong hydrothermal fluid system. The 2017 program confirms the occurrence of high-grade silver intervals along the known 700 m strike length of the Bermingham vein system where mineral deposition has occurred preferentially in a north-northeast orientation and where local structural -- stratigraphic conditions controlled the distribution of high- and lower-grade areas.
The Bermingham system remains open at depth where it enters the same stratigraphy that hosted the adjacent Hector-Calumet mine which historically produced 96 million ounces silver. Current results confirm that the mineralized system is well developed at depth with significant intersections such as the Bear vein in the southwestern extension of the Arctic zone at a vertical depth of 425 m below surface with an intercept of 1,355 g/t (43.56 ounces per ton) Ag over true width of 1.24 m in drill hole K-17-0660.
The opportunity to follow this well-developed mineralized system to depth will ultimately be tested from underground as the proposed mine is developed.
Four exploration holes were completed near the intersection of the Ruby and Townsite veins adjacent to the historically producing Ruby mine (approximately 260 m to the northeast of the Bermingham area). These produced an intersection of 1,040 g/t (33.4 ounces per ton) Ag over a true width of 1.18 m from 131.05 m in hole K-17-0642 and represents a possible Ruby vein offset in an untested northeast extension of the historic Ruby mine approximately 400 m from the current Bermingham resource area.
The mineralogy of the Bermingham system 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. The mineralized structures exhibit textures indicative of prolific fluid flow, hydro-brecciation and fluid boiling during several pulses of mineral deposition and fault movement.
Bermingham underground development
Following receipt of an amended Class IV permit in August, 2017, underground activity to establish and drive an approximate 580 m decline to the Bermingham deposit commenced. At present the 3.7 m by 3.7 m ramp has been advanced approximately 135 m and is targeted for completion in the first quarter of 2018. Once complete, a 5,000 m underground drill program will target infill and extension drilling of the proposed Bear vein and other potential mining zones including areas which have been identified as a result of the 2017 surface exploration program. Work to advance the Bermingham ramp is continuing into the winter and is being carried out by Alexco's underground operations group supported by on-site geologists and engineers. A total of approximately 30 employees are dedicated to this project.
Notes
The 2017 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 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 direct shipped to ALS Minerals Lab at Whitehorse, Yukon, for preparation, and to the ALS Minerals facility in North Vancouver, B.C., for fire assay, multielement ICP and overlimit analyses.
The disclosure of all other scientific and technical information contained in this news release regarding projects on Alexco's mineral properties has also been reviewed and approved by Alan McOnie, FAusIMM, Alexco's vice-president, exploration, a qualified person as defined by National Instrument 43-101.
About Alexco
Resource Corp.
Alexco Resource holds the historical high-grade Keno Hill silver district located in Canada's Yukon Territory. Employing a unique business model, Alexco also provides mine-related environmental services, remediation technologies, and reclamation and mine closure services to both government and industry clients through the Alexco Environmental Group, its wholly owned environmental services division.
2017 BERMINGHAM ASSAY COMPOSITES
Hole From (m) To (m) Interval (m) Est. true width (m) (1) Ag (g/t) Ag (oz/t) Pb (%) Zn (%) Au (g/t)
K-17-0636 467.82 471.40 3.58 3.15 406 13.04 0.69 1.38 0.20
Including 471.11 471.40 0.29 0.26 3,720 119.60 2.01 3.41 1.19
K-17-0641 250.49 254.08 3.59 3.05 50 1.60 0.30 1.44 0.04
340.55 346.35 5.80 4.93 699 22.46 1.19 1.68 0.11
Including 341.33 344.20 2.87 2.44 1,190 38.26 2.21 3.30 0.17
357.08 360.37 3.29 2.80 123 3.95 0.19 0.59 0.03
Including 357.08 357.57 0.49 0.31 661 21.25 0.38 2.39 0.21
366.33 370.84 4.51 2.82 679 21.84 3.21 1.19 0.09
Including 369.52 370.84 1.32 0.83 2,270 72.98 10.30 2.39 0.22
374.26 398.20 23.94 14.96 241 7.76 0.49 0.79 0.03
Including 377.00 377.50 0.50 0.31 800 25.72 0.16 0.26 0.19
and 382.20 384.72 2.52 1.57 498 16.01 0.23 1.92 0.06
and 390.60 391.47 0.87 0.54 1,350 43.40 2.19 4.20 0.16
405.42 406.15 0.73 0.46 53 1.70 0.00 0.14 -0.01
K-17-0645 284.30 285.05 0.75 0.61 75 2.40 0.21 1.15 0.08
291.40 291.65 0.25 0.20 82 2.64 0.76 0.02 0.27
347.27 348.62 1.35 1.09 2,056 66.10 1.02 1.59 0.33
Including 348.30 348.62 0.32 0.26 8,180 263.00 2.86 0.09 0.72
396.85 398.18 1.33 0.73 1,941 62.41 5.16 1.14 0.23
Including 396.85 397.90 1.05 0.58 2,380 76.52 5.77 1.27 0.28
402.50 411.85 9.35 5.46 311 10.01 0.74 0.23 0.06
Including 403.40 405.84 2.44 1.42 929 29.88 1.36 0.17 0.09
K-17-0651 324.15 327.20 3.05 2.50 475 15.26 1.72 0.97 0.09
Including 325.30 325.90 0.60 0.49 2,160 69.45 7.99 1.91 0.34
334.55 334.85 0.30 0.25 95 3.04 0.81 0.28 0.01
359.00 360.30 1.30 1.21 88 2.83 0.40 0.60 0.01
365.00 365.60 0.60 0.35 2,400 77.16 1.48 0.68 0.25
372.70 374.45 1.75 1.02 1,030 33.12 2.34 0.38 0.14
Including 372.70 373.65 0.95 0.55 1,730 55.62 4.16 0.49 0.21
K-17-0653 350.48 361.18 10.70 8.62 783 25.17 0.82 0.76 0.10
Including 350.48 354.70 4.22 3.40 1,678 53.96 1.83 1.13 0.19
and 360.25 360.78 0.53 0.43 1,625 52.25 0.19 0.33 0.14
428.00 429.50 1.50 0.88 1,279 41.11 0.35 0.08 0.28
Including 428.00 428.75 0.75 0.44 2,520 81.02 0.31 0.15 0.53
K-17-0657 400.15 401.25 1.10 0.90 114 3.67 0.49 2.10 0.21
449.36 449.43 0.07 0.06 1,600 51.44 1.83 2.03 0.16
456.75 460.70 3.95 2.54 547 17.60 0.86 0.37 0.17
Including 457.70 460.15 2.45 1.58 777 24.97 1.12 0.40 0.10
K-17-0658 328.50 329.95 1.45 1.18 946 30.40 1.12 12.50 0.19
Including 328.50 329.20 0.70 0.57 1,800 57.87 2.13 24.90 0.26
375.40 383.35 7.95 5.15 1,547 49.73 8.00 0.56 0.18
K-17-0660 473.45 473.90 0.45 0.28 105 3.38 0.98 3.09 0.10
478.55 490.80 12.25 7.60 321 10.33 1.50 0.31 0.09
Including 485.00 487.00 2.00 1.24 1,355 43.56 5.30 0.11 0.32
K-17-0662 302.97 306.58 3.61 3.25 972 31.26 1.31 1.57 0.11
Including 305.11 306.26 1.15 1.03 2,757 88.64 3.78 2.41 0.21
308.75 309.56 0.81 0.73 65 2.10 0.19 1.32 0.07
317.75 319.40 1.65 1.29 51 1.65 0.07 0.06 0.01
323.00 324.75 1.75 1.37 537 17.26 1.37 0.83 0.06
Including 323.85 324.75 0.90 0.70 1,011 32.52 2.46 1.42 0.11
K-17-0664 359.50 361.55 2.05 1.89 1,950 62.70 5.62 3.62 0.13
Including 359.50 360.08 0.58 0.53 6,620 212.84 17.80 12.10 0.40
381.40 389.35 7.95 5.97 221 7.11 0.63 0.40 0.03
Including 386.56 387.30 0.74 0.56 1,415 45.49 4.45 0.86 0.12
K-17-0668 344.57 347.95 3.38 3.18 343 11.02 1.17 0.22 0.04
Including 344.57 344.90 0.33 0.31 833 26.78 2.12 0.26 0.10
and 347.85 347.95 0.10 0.09 7,530 242.10 27.50 2.56 0.30
352.25 356.70 4.45 4.18 1,447 46.53 0.96 2.78 0.08
Including 352.25 352.45 0.20 0.19 7,110 228.60 4.43 5.35 0.49
and 355.10 355.80 0.70 0.66 6,730 216.38 4.40 7.40 0.29
358.80 363.80 5.00 4.70 119 3.82 0.28 1.61 0.02
367.05 373.08 6.03 4.70 726 23.35 1.59 3.98 0.06
Including 370.25 373.08 2.83 2.21 1,469 47.24 3.23 8.20 0.11
K-17-0672 391.25 399.10 7.85 6.88 500 16.09 0.65 0.66 0.16
Including 391.25 395.50 4.25 3.72 786 25.27 1.04 0.57 0.25
K-17-0674 385.65 386.32 0.67 0.47 107 3.44 0.80 0.71 0.03
392.11 393.70 1.59 1.11 718 23.10 1.33 4.19 0.12
Including 392.57 393.70 1.13 0.79 984 31.65 1.81 5.73 0.16
428.00 434.30 6.30 4.35 176 5.67 1.53 2.28 0.17
Including 429.92 430.34 0.42 0.29 1,350 43.40 8.68 10.25 0.37
K-17-0643 399.40 406.00 6.60 5.01 2,464 79.23 2.28 1.34 0.37
Including 399.40 401.70 2.30 1.61 1,384 44.50 4.72 2.28 0.22
and 404.20 405.20 1.00 0.70 1 2,003 385.91 0.52 0.41 1.54
460.35 461.55 1.20 0.84 37 1.19 0.02 0.01 0.07
K-17-0652 410.90 412.15 1.25 0.95 74 2.36 0.10 0.02 0.06
425.07 435.10 10.03 7.02 310 9.96 1.19 0.47 0.10
Including 425.07 425.20 0.13 0.09 2,370 76.20 10.15 1.80 0.21
450.20 450.45 0.25 0.18 2,320 74.59 11.30 0.02 0.21
456.75 457.20 0.45 0.33 32 1.03 0.03 0.02 0.02
467.00 467.50 0.50 0.37 3,900 125.39 0.47 0.15 0.64
K-17-0670 378.47 382.30 3.83 2.73 857 27.54 0.23 1.10 0.17
Including 378.47 379.22 0.75 0.53 4,219 135.64 0.65 4.90 0.80
393.01 393.53 0.52 0.37 49 1.57 0.04 1.76 0.18
396.82 401.38 4.56 3.25 207 6.67 1.49 1.64 0.04
Including 397.53 398.00 0.47 0.33 1,530 49.19 12.60 11.80 0.19
426.53 427.01 0.48 0.35 331 10.64 3.11 0.59 0.07
K-17-0646 203.00 205.54 2.54 1.94 290 9.33 0.27 0.65 0.06
Including 203.00 203.30 0.30 0.23 1,870 60.12 1.61 0.67 0.18
210.90 215.24 4.34 3.32 157 5.03 0.55 0.40 0.03
Including 214.90 215.24 0.34 0.26 702 22.57 4.25 0.77 0.13
284.40 284.98 0.58 0.24 377 12.12 0.07 0.46 0.11
K-17-0650 216.27 217.18 0.91 0.64 100 3.21 0.73 1.07 0.06
228.30 229.20 0.90 0.63 796 25.59 11.45 0.30 0.06
232.50 233.36 0.86 0.46 92 2.96 0.17 0.58 0.02
237.12 238.00 0.88 0.47 659 21.19 4.66 0.35 0.08
K-17-0656 299.73 304.20 4.47 3.67 36 1.15 0.21 0.21 0.01
377.00 378.20 1.20 0.93 50 1.59 0.03 0.04 0.01
K-17-0659 291.93 292.70 0.77 0.71 3,240 104.17 6.67 0.69 0.22
296.20 297.05 0.85 0.78 53 1.71 0.33 0.40 0.03
311.50 318.00 6.50 5.06 1,214 39.02 2.47 2.52 0.20
Including 311.50 311.68 0.18 0.14 3,180 102.24 11.50 2.32 0.23
and 314.30 317.70 3.40 2.65 2,096 67.38 3.61 4.31 0.32
K-17-0661 303.56 307.37 3.81 3.24 394 12.68 1.98 1.54 0.08
Including 303.56 306.87 3.31 2.82 377 12.14 1.99 1.10 0.05
359.70 362.27 2.57 1.75 53 1.70 0.16 0.77 0.04
K-17-0663 331.80 337.35 5.55 4.20 2,518 80.95 2.57 3.14 0.30
Including 331.80 332.35 0.55 0.42 766 24.63 1.58 6.82 0.56
and 334.50 335.95 1.45 1.10 8,905 286.30 8.56 5.34 0.82
K-17-0665 316.00 317.60 1.60 1.37 390 12.53 1.75 1.39 0.05
333.75 340.25 6.50 4.81 80 2.56 0.55 0.64 0.08
344.95 345.63 0.68 0.50 60 1.94 0.22 1.81 0.05
K-17-0667 399.32 400.18 0.86 0.69 49 1.58 0.40 0.03 0.01
K-17-0669 283.22 283.77 0.55 0.51 56 1.81 0.21 0.91 0.04
287.60 288.22 0.62 0.57 49 1.57 0.38 1.56 0.30
321.07 326.62 5.55 3.76 704 22.64 1.92 2.70 0.09
Including 325.19 326.62 1.43 0.97 2,567 82.54 7.00 9.07 0.30
K-17-0671 271.05 271.27 0.22 0.21 10,126 325.55 24.86 1.15 1.34
278.51 281.22 2.71 2.60 18 0.59 0.18 0.85 0.00
289.86 290.73 0.87 0.63 138 4.44 2.04 0.26 0.06
K-17-0673 312.80 313.08 0.28 0.24 38 1.21 0.33 0.68 0.05
317.61 319.65 2.04 1.72 93 3.00 0.14 1.96 0.01
K-17-0642 131.05 132.42 1.37 1.18 1,040 33.44 1.43 2.03 0.17
(1) Estimated true width calculated from modelled vein attitude and drill hole intercept orientation.
Intervals calculated at plus 600 g/t Ag with a maximum of two m unmineralized internal dilution.
We seek Safe Harbor.
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