Mr. Clynt Nauman reports
ALEXCO INTERSECTS 4.3 METERS (TRUE WIDTH) OF 3,605 GRAMS PER TONNE SILVER AT BERMINGHAM, COMPLETES UNDERGROUND INFILL/EXPLORATION DRILL PROGRAM
Alexco Resource Corp. has released results from 15 drill holes, essentially completing the 2018 resource infill and extension drilling campaign at the high-grade Bermingham deposit in the Keno Hill silver district in Canada's
Yukon. The existing Bermingham resource comprises an indicated 858,000 tonnes averaging 628 grams per tonne (g/t) silver (Ag), containing 17.3 million indicated ounces of silver. A total of approximately 8,600 metres of underground and surface drilling was completed at Bermingham in 2018. Results from this work will be included in an updated Bermingham resource estimate to be completed prior to month-end.
Highlights
In the 2018 program, 24 holes were completed underground from the Bermingham exploration decline and 12 holes completed from surface for a total of 8,582 m of HQ diamond core drilling that includes five holes (620 m) that were abandoned, and three holes for which assays are not yet available. This release summarizes the results from 11 underground and four surface drill holes completed for 4,243 m for which assays are available. Over all, the drill holes were designed primarily to provide infill intercepts at spacings of 10 to 15 m centres in order to demonstrate geological and grade continuity in the upper levels of the planned mine development on the high-grade Bear vein indicated resource, and to also intersect adjacent subparallel mineralized vein sets to extend the current resource.
These most recent results continue to confirm continuity of significant high-grade silver mineralization in each of the main mineralized vein zones as follows:
- Intercepts on the Bear vein included 4.29 m true width at 3,605 g/t (115.91 ounces per ton) Ag in hole BMUG18-018; 5.99 m true width at 1,013 g/t (32.56 ounces per ton) Ag in hole BMUG18-022, and 0.98 m true width at 6,952 g/t (223.52 ounces per ton) Ag in hole K-18-0702.
- Intercepts on the Bermingham footwall vein included 3.96 m true width at 3,348 g/t (107.64 ounces per ton) Ag in hole BMUG18-016, and 2.27 m true width at 4,480 g/t (144.03 ounces per ton) Ag in hole K-18-0702.
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Intercepts in the Bermingham main vein included 4.10 m true width at 1,575 g/t (50.65 ounces per ton) Ag in hole BMUG18-019.
- Intercepts on the west-dipping vein set included 1.37 m true width at 1,372 g/t (44.12 ounces per ton) Ag in hole BMUG18-016, 2.49 m true width at 1,253 g/t (40.27 ounces per ton) Ag in hole BMUG18-017, and 1.32 m true width at 1,982 g/t (63.73 ounces per ton) Ag in hole BMUG-024.
Alexco chairman and chief executive officer Clynt Nauman commented: "These results serve to reconfirm our confidence in the continuity and tenor of silver mineralization in what now appears to be one of the larger silver-mineralizing systems in the Keno Hill silver district. With these results in hand, we will immediately update the Bermingham deposit resource estimate, while also anticipating that the 2018 closer-spaced drilling may result in some of the indicated resource converting to reserves in our upcoming prefeasibility study scheduled for release in October."
Drill composite assay interval highlights:
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BMUG18-016 -- 11.16 m interval (8.03 m true width) from 214.64 m at 1,775 g/t (57.1 ounces per ton) Ag, 4.48 per cent lead, 2.43 per cent zinc; that includes the 5.51 m interval (3.96 m true width) from 214.64 m at 3,348 g/t (107.6 ounces per ton), 8.53 per cent Pb, 4.51 per cent Zn;
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BMUG18-018 -- 6.17 m interval (4.29 m true width) from 112.5 m at 3,605 g/t (115.9 ounces per ton) Ag, 13.63 per cent Pb, 2.48 per cent Zn;
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BMUG18-019 -- 6.97 m interval (4.10 m true width) from 211.55 m at 1,575 g/t (50.65 ounces per ton) Ag, 2.71 per cent Pb, 1.68 per cent Zn;
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BMUG18-022 -- 12.35 m interval (5.99 m true width) from 155.65 m at 1,013 g/t (32.56 ounces per ton) Ag, 3.76 per cent Pb, 1.36 per cent Zn;
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K-18-0702 -- 7.67 m interval (4.51 m true width) from 316.15 m at 1,496 g/t (48.09 ounces per ton) Ag, 6.38 per cent Pb, 2.03 per cent Zn and 7.37 m (4.33 m true width) from 328.45 m at 2,421 g/t (77.84 ounces per ton) Ag, 6.67 per cent Pb, 5.42 per cent Zn;
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BMUG18-023 -- 5.43 m interval (4.03 m true width) from 207.57 m at 3,784 g/t (121.66 ounces per ton) Ag, 1.67 per cent Pb, 2.97 per cent Zn.
Details of the drill holes are shown in the associated table. Composite assay grades and intervals, calculated at a 30 g/t Ag cut-off restricted to include a maximum of two m unmineralized dilution, used to identify the mineralized zones are shown in the associated table.
Notes
The 2018 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 (inductively coupled plasma) and overlimit analyses.
The disclosure of all other scientific and technical information contained in this news release regarding projects on Alexco's mineral properties have been reviewed and approved by Alan McOnie, FAusIMM, Alexco's vice-president, exploration, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.
About Alexco Resource Corp.
Alexco Resource owns the high-grade Keno Hill silver district in Canada's Yukon Territory. Alexco published an updated preliminary economic assessment in March, 2017, which anticipates the sequential development of four high-grade silver deposits over an eight-year mine life producing more than one million tonnes with an average grade of 843 grams per tonne silver, 3.3 per cent lead and 4.6 per cent zinc. Silver production is anticipated to be approximately 3.5 million ounces per year.
ASSAY COMPOSITES
Hole From To Interval Est. true width (1) Ag Ag Pb Zn Au
(m) (m) (m) (m) (g/t) (oz/t) (%) (%) (g/t)
BMUG18-014 136.63 145.50 8.87 5.21 144 4.62 0.39 1.19 0.17
including 136.63 136.95 0.32 0.19 1,190 38.26 2.71 1.69 0.15
148.05 161.90 13.85 10.45 152 4.90 0.43 0.80 0.12
including 153.07 153.65 0.58 0.44 1,500 48.23 1.82 1.17 0.79
245.20 245.85 0.65 0.43 250 8.04 0.13 0.02 0.21
264.00 264.30 0.30 0.23 3,860 124.10 15.95 0.52 0.30
289.35 297.00 7.65 3.23 885 28.44 1.69 2.13 0.24
including 292.50 295.50 3.00 1.27 2,142 68.85 3.64 4.58 0.43
BMUG18-016 124.07 126.95 2.88 1.81 53 1.71 0.38 0.22 0.14
129.37 130.24 0.87 0.55 4,203 135.12 1.26 1.27 0.47
including 129.87 130.24 0.37 0.23 9,830 316.04 2.75 2.50 1.12
136.50 137.45 0.95 0.60 69 2.22 0.14 1.86 0.13
140.83 142.24 1.41 0.89 41 1.32 0.09 0.87 0.01
163.10 165.00 1.90 1.37 1,372 44.12 1.63 0.69 0.08
168.00 170.10 2.10 1.51 1,060 34.09 7.95 3.74 0.06
including 169.20 170.10 0.90 0.65 2,430 78.13 18.45 8.34 0.16
210.00 210.37 0.37 0.27 1,220 39.22 3.26 0.14 0.15
214.64 225.80 11.16 8.03 1,775 57.08 4.48 2.43 0.19
including 214.64 220.15 5.51 3.96 3,348 107.64 8.53 4.51 0.37
and 222.33 223.05 0.72 0.52 843 27.10 0.55 0.32 0.06
229.26 235.58 6.32 6.16 629 20.24 2.73 1.07 0.10
including 229.26 234.75 5.49 5.35 717 23.05 3.06 1.16 0.10
238.50 246.00 7.50 7.31 43 1.39 0.25 0.63 0.03
BMUG18-017 138.28 140.92 2.64 1.44 508 16.34 1.16 0.79 0.09
including 140.40 140.92 0.52 0.28 2,340 75.23 5.47 3.14 0.27
145.50 145.87 0.37 0.20 46 1.49 0.33 0.37 0.50
164.21 168.16 3.95 2.49 1,253 40.27 0.18 4.80 0.15
including 165.84 168.16 2.32 1.46 2,084 67.00 0.25 7.19 0.26
213.85 215.03 1.18 0.85 2,743 88.18 2.50 4.03 0.18
including 214.20 215.03 0.83 0.60 3,860 124.10 3.29 1.66 0.25
217.68 221.55 3.87 2.78 1,052 33.82 0.90 2.13 0.10
224.40 229.50 5.10 4.79 512 16.47 2.85 3.75 0.06
including 226.50 228.65 2.15 2.02 1,036 33.31 5.17 6.96 0.11
BMUG18-018 112.50 118.67 6.17 4.29 3,605 115.91 13.63 2.48 0.24
189.00 191.56 2.56 1.87 301 9.67 0.89 0.40 0.04
including 189.00 189.60 0.60 0.47 694 22.31 0.54 0.38 0.07
195.00 196.60 1.60 1.26 666 21.42 0.76 1.10 0.05
204.55 207.00 2.45 1.37 975 31.34 0.98 1.64 0.06
including 206.25 206.60 0.35 0.20 6,680 214.77 5.43 5.40 0.34
209.78 216.85 7.07 3.95 382 12.29 0.85 1.07 0.09
including 209.78 210.22 0.44 0.25 526 16.91 1.94 0.28 0.03
and 213.00 216.85 3.85 2.15 468 15.04 1.02 1.46 0.14
BMUG18-019 114.70 115.57 0.87 0.64 691 22.21 4.17 0.18 0.08
including 115.25 115.57 0.32 0.23 1,765 56.75 10.95 0.17 0.17
126.00 130.20 4.20 3.07 1,338 43.03 1.06 3.66 0.09
138.35 138.65 0.30 0.23 961 30.90 2.08 0.25 0.10
148.68 149.05 0.37 0.29 541 17.39 0.14 1.70 0.15
200.65 202.50 1.85 1.44 90 2.89 0.07 0.18 0.02
211.55 218.52 6.97 4.10 1,575 50.65 2.71 1.68 0.16
including 211.55 212.45 0.90 0.53 741 23.82 0.47 0.29 0.04
and 216.95 218.52 1.57 0.92 6,476 208.21 11.18 6.46 0.66
221.20 222.00 0.80 0.47 47 1.51 0.36 0.09 0.01
BMUG18-021 103.50 104.15 0.65 0.52 530 17.04 2.69 1.49 0.04
109.50 113.77 4.27 3.41 360 11.56 1.08 0.77 0.01
including 113.06 113.27 0.21 0.17 3,610 116.06 2.45 2.81 0.12
118.50 119.37 0.87 0.69 63 2.03 0.21 0.64 0.01
123.18 124.65 1.47 1.17 247 7.94 0.06 0.98 0.01
including 123.18 123.87 0.69 0.55 429 13.79 0.10 1.82 0.03
169.50 170.05 0.55 0.38 263 8.46 2.61 0.09 0.03
BMUG18-022 155.65 168.00 12.35 5.99 1,013 32.56 3.76 1.36 0.15
including 160.50 165.08 4.58 2.22 2,584 83.08 9.34 2.96 0.34
231.80 240.30 8.50 5.58 754 24.23 2.34 2.49 0.22
including 231.80 239.22 7.42 4.87 828 26.63 2.51 2.39 0.21
243.00 245.42 2.42 1.59 191 6.14 0.48 0.37 0.05
BMUG18-023 117.75 123.50 5.75 4.07 338 10.85 1.11 1.01 0.06
including 117.75 119.09 1.34 0.95 1,231 39.58 3.83 2.82 0.20
127.62 131.15 3.53 2.50 65 2.10 0.65 0.74 0.02
150.95 151.80 0.85 0.68 147 4.73 0.84 0.41 0.01
153.80 154.65 0.85 0.68 146 4.69 0.08 1.21 0.02
207.57 213.00 5.43 4.03 3,784 121.66 1.67 2.97 0.08
including 208.30 211.16 2.86 2.13 7,122 228.96 3.04 4.97 0.31
224.49 225.83 1.34 0.99 79 2.54 0.21 0.17
229.50 231.00 1.50 0.82 336 10.79 0.41 0.75 0.20
BMUG18-024 103.79 106.65 2.86 2.11 563 18.11 0.42 0.17 0.06
including 103.79 105.00 1.21 0.89 1,241 39.90 0.48 0.12 0.10
111.82 117.00 5.18 3.82 50 1.61 0.04 0.48 0.03
121.39 122.45 1.06 0.78 73 0.04 1.06 0.07
127.00 127.95 0.95 0.70 70 2.24 0.16 0.83 0.06
136.50 138.11 1.61 1.32 1,982 63.73 2.63 2.16 0.20
including 137.80 138.11 0.31 0.25 9,940 319.58 13.05 11.10 0.96
BMUG18-025 153.00 163.06 10.06 5.48 879 28.27 0.92 0.59 0.19
including 153.90 155.45 1.55 0.84 2,818 90.60 1.65 0.43 0.70
and 158.94 159.25 0.31 0.23 11,721 376.82 7.71 0.01 0.61
168.56 169.23 0.67 0.49 2,824 90.81 0.71 0.04 0.18
including 168.56 169.23 0.67 0.49 2,824 90.81 0.71 0.04 0.18
BMUG18-026 117.35 139.44 22.09 13.29 501 16.11 1.94 1.39 0.16
including 117.35 119.75 2.40 1.44 1,650 53.05 5.00 3.22 0.51
and 122.05 122.51 0.46 0.28 1,100 35.37 2.72 1.68 0.10
and 129.33 133.50 4.17 3.57 886 28.49 3.59 2.87 0.12
and 136.73 138.23 1.50 1.29 980 31.50 5.41 1.94 0.45
153.76 158.36 4.60 3.98 53 1.70 0.14 0.66 0.02
232.50 239.72 7.22 4.24 300 9.65 1.38 0.69 0.14
including 232.50 233.03 0.53 0.31 808 25.98 2.05 2.54 0.16
and 235.50 236.20 0.70 0.41 933 29.99 4.44 0.65 0.13
K-18-0699 356.52 363.57 7.05 3.74 242 7.79 0.86 0.95 0.07
including 361.08 363.57 2.49 1.32 576 18.53 1.99 1.81 0.08
K-18-0702 290.98 292.22 1.24 0.83 131 4.21 0.16 0.07 0.29
295.40 298.90 3.50 2.34 104 3.36 0.30 0.32 0.18
309.45 323.82 14.37 8.45 974 31.30 3.56 1.75 0.10
including 312.15 312.75 0.60 0.35 3,590 115.42 2.56 13.05 0.39
and 316.15 323.82 7.67 4.51 1,496 48.09 6.38 2.03 0.14
328.45 335.82 7.37 4.33 2,421 77.84 6.67 5.42 0.33
including 330.83 334.70 3.87 2.27 4,480 144.03 11.55 9.76 0.52
383.32 385.40 2.08 0.98 6,952 223.52 17.13 0.20 0.68
including 383.32 384.81 1.49 0.70 9,675 311.07 23.84 0.21 0.94
K-18-0704 335.25 338.00 2.75 1.54 750 24.12 2.10 0.68 0.17
including 335.25 335.77 0.52 0.29 3,820 122.82 10.30 2.41 0.60
361.25 366.50 5.25 2.70 505 16.25 3.53 0.74 0.11
including 361.25 365.95 4.70 2.42 559 17.96 3.91 0.75 0.13
369.70 370.05 0.35 0.18 969 31.15 2.86 0.62 0.08
375.55 382.75 7.20 3.71 505 16.24 1.03 2.15 0.02
including 375.55 377.29 1.74 0.90 1,974 63.46 3.57 7.77 0.20
399.20 400.76 1.56 0.81 127 4.08 0.27 0.16 0.06
406.55 408.43 1.88 0.64 641 20.60 3.13 0.60 0.12
including 406.55 407.45 0.90 0.31 1,295 41.64 6.50 1.13 0.23
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