Alexco cuts 1,681 g/t silver over 20 metres at Bermingham

Alexco Resource (TSX: AXU; NYSE: AXU) says the latest results from the ongoing drill program at the Bermingham Northeast Deep zone at its Keno Hill silver project in the Yukon include 1,681 g/t silver over 20.4 metres true width from hole K-21-0786. The core also assayed 0.36 g/t gold, 6.2% lead, and 0.46% zinc.

The hole was drilled near where the Main and Footwall veins are known to intersect. The Main vein has been traced over a true width of 6.4 metres grading 2,010 g/t silver, including 0.7 metre grading 13,112 g/t, and 0.7 metre grading 2,780 g/t. The Footwall vein extends over a true width of 8.7 metres grading 2,284 g/t silver , including 193 metres at 4,269 g/t and 2.9 metres at 3.934 g/t silver.

The current 19,000-metre program is testing 50 mineralized targets along the Northeast Deep zone that was discovered in 2019 and extended over 500 metres last year.

The Keno Hill silver project produced its first concentrates in January 2021. Underground development and production are advancing, reaching the Bermingham ore in August. The mill is ramping up to nameplate capacity of 400 t/d. The final longhole blast at the Bellekeno will occur this month, and the mill will transition to feed from Bermingham as well as Flame & Moth mines. Ore production from Flame & Moth is anticipated before year-end.

Alexco chairman and CEO Clynt Nauman said the company is very encouraged by the results from the Northeast deep drilling. “This zone of mineralization is shaping up to be within 200 metres of our currently planned underground ramp and haulage infrastructure. Upon completing an updated mineral resource estimate for Bermingham in the fourth quarter, we will look to incorporate these results into an updated and expanded mineral reserve.”

At the beginning of this year, the Bermingham deposit contained 1.1 million indicated resources averaging 930 g/t silver and containing 33 million oz. Within the indicated portion, there were probable reserves of 630,173 tonnes grading 899 g/t silver and containing 37.2 million oz. The inferred resource was 509,400 tonnes averaging 442 g/t silver and containing 11.7 million ounces.

More detailed information from this year’s drill program is available at www.AlexcoResource.com.