The Prospector News

Alexco Expands Indicated Resource to 22.9 Million Ounces of Silver

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Alexco Expands Indicated Resource to 22.9 Million Ounces of Silver

 

 

 

The Prospector columnist and head of Beacon Rock Research, Mike Niehuser on site at Alexco.

 

 

Alexco Resource Corp. (TSX:AXR)(NYSE MKT:AXU) released a new, updated mineral resource estimate for the Flame & Moth discovery within the Keno Hill Silver District in Canada’s Yukon Territory, substantially increasing its previously estimated indicated silver resource. Since publishing the initial resource estimate (see news release dated June 28, 2012 entitled “Alexco Announces Initial Resource Estimates for Flame & Moth and Bermingham”), Alexco has drilled 8,752 meters in 43 holes to expand the Flame & Moth indicated silver resource from 11.1 million ounces to 22.9 million ounces, while increasing the indicated resource grade 14% to 516 grams per tonne (gpt), or 16.6 ounces per ton (opt) silver.
 

The updated resource estimate is summarized as follows:

 

 

 

—————————————————————————-

—————————————————————————-

Silver

Class             Silver   Gold   Lead   Zinc       (Troy

Deposit          (1,2,3)      Tonnes  (gpt)  (gpt)    (%)    (%)     ounces)

—————————————————————————-

—————————————————————————-

Flame

& Moth(4)      Indicated   1,378,000    516   0.42   1.72   5.70  22,859,000

—————————————————————-

Inferred     107,000    313   0.27   0.86   4.21   1,081,000

—————————————————————————-

—————————————————————————-

 

Notes:

 

1.  The effective date of these mineral resource estimates is January 30,

2013.

2.  Mineral resources are not mineral reserves and do not have demonstrated

economic viability. All numbers have been rounded to reflect the

relative accuracy of the estimates.

3.  Reported at a contained metal value cut-off grade of CAD $185.00/t (0.96

USD = 1 CAD) using consensus long term metal prices and recoveries

developed for the nearby Bellekeno deposit (silver US$24.00/oz, recovery

96%; lead US$0.85/lb, recovery 97%; zinc US$0.95/lb, recovery 88%; gold

US$1,400/oz, recovery 72%).

4.  Silver grades capped at 3,000 gpt; lead capped at 15%; zinc capped at

20%; gold grades not capped.

 

 

 

The updated resource estimate now incorporates a total of 21,245 meters of drilling that has been completed since 2010, and provides an 82% increase in indicated tonnes to approximately 1.4 million and a 14% increase in indicated resource grade over that of the initial Flame & Moth estimated resource.

 

Alexco President and Chief Executive Officer Clynt Nauman said, “At nearly 22.9 million ounces of indicated silver resource, the Flame & Moth deposit silver inventory is more than twice as large as the original pre-mining 11.0 million ounce Bellekeno Mine indicated silver resource, which is now in its third year of production. Looked at on the basis of a 500 gpt silver cut-off grade, the Flame & Moth deposit contains more than 500,000 tonnes of 861 gpt silver and 0.6 gpt gold accompanied by more than 9% combined lead and zinc. The thickness of mineralization, the continuity of the deposit, its robust grade and the fact that this deposit comes to surface under approximately 20 meters of gravels opens up a number of potential development options for this important discovery. Furthermore, the deposit remains open down dip and down plunge to the south. As a result of this success, we are initiating engineering and baseline studies on the Flame & Moth deposit. In the meantime, we are forging ahead with our plans to commence production from our second and third mines, Onek and Lucky Queen, where we recently received a Quartz Mining License and anticipate award of a Water License in the near future.”

 

Posted January 31, 2013

Share this news article

MORE or "UNCATEGORIZED"


Omai Intersects Gold in Broccoli Hill Trenches and Drill Holes

Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce explorat... READ MORE

January 19, 2022

Monument Announces Burnakura Phase 1 Assay Results Including High-Grade Gold at Junction Target

Monument Mining Limited (TSX-V: MMY) (FSE: D7Q1) is pleased to an... READ MORE

January 19, 2022

Doré Copper Intersects 3.7 Meters at 9.41% Copper, 2.84 g/t Gold and 36.5 g/t Silver at Corner Bay – Continues to Expand Deposit

Doré Copper Mining Corp. (TSX-V: DCMC) (OTCQX: DRCMF) (FRA: DCM) is ple... READ MORE

January 19, 2022

Golden Tag Drills 272 g/t Ag.Eq over 7.8 m & 100 g/t Over 322.9 m Extending Endoskarn Zone 50 m SW

Golden Tag Resources Ltd. (TSX-V: GOG) (OTCQB: GTAGF) is pleased to anno... READ MORE

January 19, 2022

Barrick Delivers on Production Targets for the Third Consecutive Year

Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) announced prelimin... READ MORE

January 19, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News