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Alexco Intersects 8.1 Meters (true width) at Composite Grade of 1,414 Grams Per Tonne (45.5 oz/t) Silver at “Bermingham Deep” Target

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Alexco Intersects 8.1 Meters (true width) at Composite Grade of 1,414 Grams Per Tonne (45.5 oz/t) Silver at “Bermingham Deep” Target

 

 

 

 

 

Alexco Resource Corp. (NYSE American: AXU) (TSX: AXU) reports initial results from the 2019 Bermingham “deep target” drilling program at the Keno Hill Silver District property in Canada’s Yukon Territory. The 2019 drill program was designed to follow up prior drill results indicating potential for deeper mineralization at Bermingham (see news release dated January 21, 2019, entitled “Alexco 2018 Reconnaissance Drilling Confirms Continuation Of Bermingham Mineralization at Depth and Identifies an Offset Extension, Identifies New Gold Targets”), with a specific aim to test for the presence of mineralization in a deeper stratigraphic zone, which also hosts the adjacent historic Hector Calumet deposit. Success in the 2019 Bermingham deep drilling program will now drive a much larger follow up drilling program, the timing and drill-technology for which is under review.

 

Shallower drilling has also been completed adjacent to the Bermingham Northeast Resource Zone with the aim of expanding the mineral resource adjacent to anticipated mining areas.  

 

Highlights

 

Bermingham Deep

 

  • K-19-0740, drilled approximately 200 meters below the northeast portion of the Bermingham deposit, intersected the Bermingham Footwall Vein structure over an 8.15 m true width from 580.29 m that averaged 1,414 grams per tonne (45.46 ounces per tonne) silver including two discrete veins, one with 1.51 m true width grading 4,755 g/t (152.88 oz/t ) Ag from 580.09 m, and the other with 0.42 m true width grading 10,105 g/t (324.88 oz/t) Ag from 590.82 m.
  • K-19-0732, drilled at a similar depth and 150 m southwest of K-19-0740, also intersected the Bermingham Footwall Vein over a true width of 0.93 m grading 2,514 g/t (80.84 oz/t) Ag from 547.33 m including a true width of 0.48 m grading 4,750 g/t (152.72 oz/t) Ag over from 547.33 m.

 

Bermingham Northeast

 

  • K-19-0733, drilled approximately 30 m beyond the indicated resource in the Northeast Zone, intersected the Bear Vein over a true width of 4.13 m grading 1,331 g/t (42.79 oz/t) Ag from 329.00 m including 1.11 m true width grading 2,672 g/t (85.91 oz/t) Ag from 329.00 m and 0.43 m true width grading 5,890 g/t Ag (189.37 oz/t) from 334.00 m.

 

Alexco’s Chairman and Chief Executive Officer Clynt Nauman commented: “The confirmation of high-grade silver mineralization at relatively deep levels below our existing Bermingham deposit is first and foremost an outstanding technical (and hopefully economic) success. This discovery confirms our view that the Bermingham deposit, which currently contains more than 40 million ounces of silver in all categories may be much larger, and certainly well within the upper quartile of historic or contemporary discoveries/deposits in the Keno Hill Silver District. Clearly a large follow up drilling program is now required; whether we execute this from underground or from the surface is still under review. Either way, these results are unlikely to alter our mine plan in the short term. In comparison however, and as reported here, the presence of high grade silver mineralization adjacent but beyond the current NE Zone resource may well expand our mining opportunity in this particular area. Again, further work is required”.

 

Geology and Drilling Detail

 

The 2019 exploration drilling has confirmed the presence of an extensive potentially deeply rooted mineralizing system at Bermingham, characterized by wide structural zones containing silver and base metal bearing veins up to and over 200 m depth below the outlined resource areas where deposition may have been related to possible higher-level boiling activity.

 

Drilling detail for Bermingham is as follows:

 

Bermingham Deep target – Five holes were completed for 3,707.5 m to test the Bermingham and Bermingham Footwall veins within the same stratigraphy that hosted the 96 million ounce historic producing Hector-Calumet mine located one km to the northeast of the Bermingham deposit. Hole lengths ranged up to 771.5 m and intersection points were designed at wide spacings of 50 – 180 m intervals to test structural and stratigraphic targets in a framework similar to the much shallower Bermingham deposit.

 

Bermingham Northeast – Four holes were completed for 1,432 m designed to test the potential for expanding the resource. Further drilling is now required to more thoroughly test open ground further to the northeast and at depth in that area.

 

Ongoing Drilling

 

Drilling continues on a series of shallow targets on Galena Hill with an additional 2,400 m to be completed in three primary target areas, with much of this work guided by geophysical work carried out in 2018. The targeting objective remains unchanged, to test for shallow, blind targets in areas where structural and stratigraphic extrapolations indicate the possibility for discovery of additional Bermingham or Flame & Moth type silver deposits. Results from this work will be available in Q4 2019.

 

Qualified Persons

 

The disclosure in this news release of scientific and technical information regarding exploration projects on Alexco’s mineral properties has been reviewed and approved by Alan McOnie, FAusIMM, Vice President, Exploration, who is a Qualified Person as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

About Alexco

 

Alexco owns the majority of the historic high-grade Keno Hill Silver District in Canada’s Yukon Territory. Alexco also operates a wholly-owned subsidiary business, Alexco Environmental Group, that provides mine-related environmental services, remediation technologies and reclamation and mine closure services to both government and industry clients in North America and elsewhere.

 

APPENDICES

 

Table 1 – Drill Hole Details

 

 

Hole Easting (m) Northing (m) Elevation (m) Length (m) Collar Azimuth Collar Inclination
K-19-0731 479411.61 7086983.69 1343.54 381.80 288.0 -72.0
K-19-0732 479485.45 7086725.51 1369.39 635.16 323.0 -67.0
K-19-0733 479411.20 7086982.94 1343.50 359.00 275.0 -65.0
K-19-0734 479411.14 7086982.60 1343.50 368.65 270.0 -63.0
K-19-0735 479447.07 7087070.53 1339.57 322.11 300.5 -55.5
K-19-0736 479572.82 7086628.39 1381.61 758.00 319.0 -63.0
K-19-0737 479712.92 7086864.37 1376.79 771.50 295.0 -70.0
K-19-0738* 479573.00 7086628.15 1381.61 128.00 319.0 -56.5
K-19-0739** 479572.33 7086629.12 1381.42 723.60 319.0 -57.5
K-19-0740 479711.60 7086862.42 1377.02 692.00 290.0 -62.5
      Total Meters 5,139.82    
* Hole Abandoned          
** Assay Results Pending          

 

 

Table 2 – Assay Composites

 

 

Hole   From
(m)
To
(m)
Interval
Length
(m)
Est. True
Width (m)
Ag
(g/t)
Ag
(oz/t)
Pb
(%)
Zn
(%)
Au
(g/t)
Vein Name
K-19-0731   308.46 312.05 3.59 3.05 308 9.91 0.90 1.16 0.21 Bermingham
  368.90 370.44 1.54 0.89 621 19.97 1.57 0.99 0.15 Bear
                       
K-19-0732   488.27 488.77 0.50 0.44 71 2.28 0.04 4.63 0.03 Bermingham
  495.25 496.19 0.94 0.83 56 1.81 0.51 7.33 0.24 Bermingham
  547.33 548.90 1.57 0.93 2,514 80.84 1.16 0.10 0.62 Bermingham Footwall
including 547.33 548.15 0.82 0.48 4,750 152.72 2.06 0.05 1.13  
                       
K-19-0733   292.78 298.85 6.07 5.34 279 8.97 1.21 2.14 0.13 Bermingham
  321.82 322.10 0.28 0.21 903 29.03 1.08 12.40 0.26 Bear splay
  329.00 330.50 1.50 1.11 2,672 85.91 2.72 0.16 0.13  
** 329.00 334.58 5.58 4.13 1,331 42.79 1.01 0.49 0.07 Wider Bear Vein Zone
  334.00 338.00 4.00 2.96 953 30.64 0.50 1.59 0.10 Bear
including 334.00 334.58 0.58 0.43 5,890 189.37 2.19 2.94 0.35  
                       
K-19-0734   295.27 295.55 0.28 0.25 504 16.20 0.97 6.44 0.07 Bermingham
  316.60 317.00 0.40 0.27 176 5.66 1.44 0.44 0.04 Bear splay
  333.48 334.00 0.52 0.35 46 1.49 0.05 5.04
0.01
Bear
          0.00            
K-19-0735   237.68 238.72 1.04 0.99 147 4.73 0.65 0.35 0.29 Bermingham
  241.05 241.94 0.89 0.85 137 4.40 0.61 1.13 0.04 Bermingham
  281.79 282.85 1.06 0.77 45 1.45 0.08 0.16 0.03 Bear
                       
K-19-0736   481.39 482.05 0.66 0.58 37 1.20 0.01 0.12 0.05 Bermingham
  715.40 720.32 4.92 2.95 60 1.92 0.76 0.61 0.05 Bermingham  Footwall
                       
K-19-0737   577.41 578.62 1.21 1.09 42 1.34 0.25 0.82
0.01
Bermingham
                       
K-19-0740   170.06 171.78 1.72 1.12 51 1.64 0.32 0.05 0.12 Aho
  556.34 559.36 3.02 2.90 273 8.78 1.64 0.07 0.07 Bermingham
  565.79 567.31 1.52 1.46 308 9.90 0.60 0.06 0.03 Bermingham splay
  574.19 577.12 2.93 2.11 72 2.33 1.31 1.09 0.05 Bermingham Footwall
splay
  580.09 582.19 2.10 1.51 4,755 152.88 8.86 0.09 0.78 Bermingham Footwall
including 580.92 582.19 1.27 0.91 7,680 246.92 14.10 0.12 1.25  
  590.40 594.16 3.76 2.71 1,609 51.73 0.33 0.66 0.22 Bermingham Footwall
including 590.82 591.41 0.59 0.42 10,105 324.88 0.15 4.15 1.36  
*** 580.09 591.41 11.32 8.15 1,414 45.46 1.70 0.24 0.22 Wider Footwall
Vein Zone
  601.17 602.95 1.78 1.66 42 1.35 0.02 0.04 0.01 Bear
  608.63 610.43 1.80 1.67 50 1.59 0.01 0.02 0.01 Bear splay
    30 g/t Ag Cut to include up to 2 m waste            
  ** 30 g/t Ag Cut to include up to 3.5m waste            
  *** 30 g/t Ag Cut to include up to 9 m waste            

 

 


Figure 1 – Drill Hole Locations (CNW Group/Alexco Resource Corp.)

 

Posted September 10, 2019

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