Alexco Resource Corp. (TSX: AXU; NYSE: AXU) has boosted silver content at its Keno Hill project in Yukon by 22% to 1.44 million tonnes grading 804 g/t silver, 3.84% zinc, 2.64% lead and 0.31 g/t gold in proven and probable reserves. Those numbers represent about 1,035 g/t silver equivalent.
The mining plan has been updated to projected output of 35.5 million oz. silver over the next eight years. Average annual production will be 4.4 million oz. silver at an all-in sustaining cost of US$11.59 per oz.
The updated National Instrument 43-101 technical report that Alexco filed on May 26 puts the life-of-mine, after-tax free cash flow at approximately $189.7 million using consensus metal prices of analysts, or $277.3 million at the current silver price.
Alexco is ramping up production at Keno Hill this year to 400 tonnes/day through the mill. Mining is transitioning from the Bellekeno to Bermingham deposit, and exploration continues at the Bermingham NE Deep drill program. By 2024 annual production is expected to be over 5 million oz. silver when the mill is expanded to 550 tonnes/day.
The technical report is available on www.AlexcoResource.com.
Read our earlier report on Canadian Mining Journal.
April 23, 2024
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