VANCOUVER, Jan. 3, 2017 /CNW/ - Alexco Resource Corp.
(TSX:AXR, NYSE-MKT:AXU) today reports an updated mineral
resource estimate for the Bermingham deposit, located within the
Keno Hill Silver District ("KHSD") in Canada's Yukon
Territory. The Bermingham indicated mineral resources are
expanded from 5.2 million ounces to 17.3 million ounces of
contained silver, while inferred mineral resources increased from
approximately 0.7 million ounces to 5.5 million ounces of contained
silver. As a result, Alexco's district-wide indicated mineral
resources at Keno Hill increased approximately 22% from 55.4
million ounces to 67.5 million ounces of contained silver.
The Bermingham deposit comprises a westerly Etta Zone and a
fault separated larger easterly Arctic Zone. Recent work
(2015 – 2016) has focused on the northeasterly extension of the
Arctic Zone where several structurally controlled sets of
subparallel moderately to steeply southeast dipping veins including
the Bermingham, Bermingham Footwall and Bear veins splay and rejoin
in a manner controlled by the host rock stratigraphy. A westerly
and shallower dipping conjugate vein set (West Dipper vein) is also
present. All vein sets in the northeasterly Arctic Zone are closely
associated, connected either laterally or vertically within the
wider Bermingham vein-fault structural corridor that is silver
enriched over a 660 m strike length, with mineralization extending
from between 90 m to 160 m below surface to a depth of
approximately 350 m where veining remains open.
The updated mineral resource estimate was prepared by SRK
Consulting (Canada) Inc.
("SRK") and is summarized as follows:
|
|
|
|
|
|
|
|
|
|
Deposit
|
Zone
|
Class
|
Vein
|
Tonnage
|
Silver
(g/t)
|
Lead (%)
|
Zinc (%)
|
Gold (g/t)
|
Silver Oz
|
Bermingham
Vein
Structure
|
Arctic
|
Indicated
|
Bermingham
|
248,000
|
376
|
1.47
|
1.33
|
0.12
|
3,001,000
|
|
|
Bear
|
148,000
|
1,376
|
4.51
|
1.76
|
0.22
|
6,532,000
|
|
|
Bermingham
Footwall
|
122,000
|
717
|
3.63
|
1.33
|
0.20
|
2,823,000
|
|
|
West-Dipper
|
21,000
|
729
|
2.47
|
2.32
|
0.12
|
502,000
|
|
|
Total Arctic
Indicated
|
539,000
|
|
|
|
|
12,858,000
|
Etta
|
Indicated
|
Bermingham
|
124,000
|
421
|
2.26
|
2.20
|
0.07
|
1,681,000
|
|
|
Bermingham
Footwall
|
195,000
|
444
|
1.28
|
1.76
|
0.06
|
2,779,000
|
|
|
Total Etta
Indicated
|
319,000
|
|
|
|
|
4,460,000
|
Total
Indicated
|
|
858,000
|
628
|
2.40
|
1.65
|
0.13
|
17,318,000
|
|
|
|
|
|
|
|
|
|
Arctic
|
Inferred
|
Bermingham
|
46,000
|
460
|
1.92
|
2.21
|
0.12
|
680,000
|
|
|
Bear
|
68,000
|
522
|
2.62
|
1.15
|
0.14
|
1,146,000
|
|
|
Bermingham
Footwall
|
72,000
|
1,276
|
1.24
|
3.06
|
0.18
|
2,961,000
|
|
|
West-Dipper
|
4,000
|
1,802
|
17.19
|
8.23
|
0.54
|
246,000
|
|
|
Total Arctic
Inferred
|
191,000
|
|
|
|
|
5,033,000
|
Etta
|
Inferred
|
Bermingham
|
3,000
|
474
|
2.12
|
2.36
|
0.07
|
47,000
|
|
|
Bermingham
Footwall
|
26,000
|
436
|
1.24
|
1.69
|
0.07
|
371,000
|
|
|
Total Etta
Inferred
|
30,000
|
|
|
|
|
418,000
|
Total
Inferred
|
|
220,000
|
770
|
2.13
|
2.21
|
0.15
|
5,451,000
|
|
|
|
|
|
|
|
|
|
|
Notes:
|
1.
|
|
The effective date of
this mineral resource estimate is January 3, 2017.
|
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 estimate.
|
3.
|
|
Reported at a
contained metal value cut-off grade of CAD $185.00/t (US$0.80=C$1)
using consensus long term metal prices (US$) and recoveries
developed for the nearby Bellekeno deposit (Ag US$20.00/oz,
recovery 96%; Pb US$0.95/lb, recovery 97%; Zn US$1.00/lb,
recovery 88%; Au US$1,300/oz, recovery 72%).
|
4.
|
|
Ag grades capped at
1,500 grams per tonne ("g/t"); Zn capped at 9.5%; Pb capped at 9%
for the Bermingham vein.
|
5.
|
|
Ag grades capped at
11,000 g/t, Zn capped at 7% and Pb capped at 20% for the Bear
Vein.
|
6.
|
|
Ag grades capped at
3,000 g/t, Zn capped at 9% and Pb capped at 30% for the Bermingham
Footwall vein.
|
7.
|
|
Ag grades capped at
2,000, Zn capped at 12% and Pb capped at 20% for the West Dipper
vein.
|
8.
|
|
Table numbers may not
add up due to rounding.
|
|
|
|
Alexco President and Chief Executive Officer Clynt Nauman said, "The majority of the tonnage
in the Bermingham deposit resides in the Arctic Zone. The
northeastern extension of the Arctic Zone is defined by higher
grade mineralization primarily in the closely juxtaposed Bear and
West Dipper veins which on a consolidated basis (Appendix II)
contain:
- Indicated: 169,000 tonnes of 1,296 g/t silver,
including 49,000 tonnes of 2,543 g/t silver in the Bear
vein.
- Inferred: 72,000 tonnes of 593 g/t silver,
including 4,000 tonnes of 1,818 g/t silver in the West
Dipper vein.
Importantly, the veins and structures hosting this higher grade
mineralization remain largely untested at depth. Finally, the
discovery of a West Dipper vein set is particularly significant as
both Boyle (1965) and Cathro
(2006), pre-eminent geologists in the understanding of the geology
of the KHSD, document the importance of shallower west
dipping conjugate veins in the highest grade deposits in the
district, most notably the nearby historical Elsa Mine. Looked at
in total, the Bermingham deposit is emerging as a fairly large
discovery, now characterized by more than 850,000 tonnes of
indicated mineralization with an average silver grade approximately
25% higher than our Flame & Moth deposit."
Bermingham Deposit
Alexco conducted surface diamond drilling programs at Bermingham
between 2009 and 2012 and again in 2014, with 61 holes drilled
totaling 18,699 m. In 2015 and 2016 a further 19,977 m were drilled
in 58 holes such that the entire data base at Bermingham now
includes 119 holes for 38,676 m. All of this drilling was inclined
northwesterly except for five holes (1,729 m) drilled southeasterly
(parallel to the dominant vein dip direction) to identify and
define the newly discovered west dipping conjugate vein set (the
"West Dipper"). The resource estimation presented here
incorporates the results from 275 composite assay intervals from 93
holes compared with those from 38 holes that were used in the
April 2015 estimation.
Drilling in 2016 was focused on obtaining resource definition
intercept spacings, particularly on the high grade Bear vein that
ranges in true width up to 6.4 m at 182 ounce per tonne ("oz/t")
silver (K-14-0537) and in grade up to 240 oz/t silver over 5.0 m
true width (K-15-0580) and that has now been traced over a
down-plunge extent of 270 m (over a vertical range of 230 m) and a
plunge width of up to 100 m, with the top of the deposit in this
vicinity being approximately 160 m below surface.
Interpretation of the consolidated drilling results has
identified four mineralized veins that splay and change orientation
along strike within the north-northeast striking and moderately to
steeply southeast dipping Bermingham vein-fault structural
corridor. This structural corridor is divided into the Etta Zone
that lies in the hangingwall of the post-mineral Mastiff Fault and
the Artic Zone in its footwall. The main through-going Bermingham
and Bermingham Footwall veins occur in both the Etta and Arctic
zones, while the Bear vein and associated newly identified
conjugate West Dipper vein set occur only within the Arctic Zone in
a position controlled by a flexure in the Bermingham vein-fault.
The resource estimate update incorporates both the Bermingham and
Bermingham Footwall vein previously reported within the Etta and
Arctic zones, with a significant extension of the Arctic zone
within the known veins and the two newly discovered veins.
The Bermingham deposit veins typically occur in structurally
complex zones as discrete veins 0.5 m to more than 5 m wide with a
five to ten meters wide structurally damaged vein margin. The
discrete veins exhibit heavily-disseminated to massive
mineralization while mineralization in the vein margins is commonly
more stringer-like. The Bermingham resource has been separately
estimated in terms of these mineralization categories as shown in
Appendix II. Regardless of category, higher grade Bermingham
mineralization is generally characterized by the presence of a
complex silver bearing mineral assemblage including pyrargyrite
(ruby silver), freibergite, argentiferous galena, stephanite,
polybasite and wire silver in a dominantly sideritic gangue.
Metallurgical test work has demonstrated that silver and lead
recoveries are expected to be in the range of 94% to 96%, while
producing a lead concentrate grading in excess of 60% lead and
30,000 g/t silver. Zinc recovery is predicted to be in the range of
70% to 75% to a zinc concentrate grading in excess of 50% zinc.
The Bermingham mineral resource was estimated using 3-D Gemcom
block modeling software in multiple passes in three by three by
three meter blocks by ordinary kriging. Grade estimates were based
on capped one meter composited assay data. Capping levels were set
to 1,500 g/t for silver for the Bermingham vein, 3,000 g/t for the
Footwall vein, 2,000 for the West Dipper Vein and 11,000 for the
Bear vein; lead was capped at 9.5% for the Bermingham vein, 30% for
the Footwall vein, 20% for the West Dipper Vein and at 30% for the
Bear vein. Zinc was capped at 9% for the Bermingham and Footwall
veins, at 7% for the Bear vein and at 12% for the West Dipper vein.
Blocks were classified as indicated mineral resources if at least
three drill holes and five composites were found within the first
pass search ellipse. All other interpolated blocks were classified
as inferred mineral resources.
A summary of all of Alexco's KHSD mineral resources
incorporating the updated mineral resource estimates for Bermingham
are appended to this release, and are available for review on the
Company's website at www.alexcoresource.com.
Technical Report Update, 2017 Exploration Plans
In March, 2017, Alexco plans to publish an updated Preliminary
Economic Assessment including technical support for the expanded
Bermingham resource estimation presented here, as well as updated
mine plans for the Flame & Moth, Bellekeno and Lucky Queen
deposits and a preliminary mine plan for potentially mineable
tonnes from the Bermingham deposit.
Alexco is presently planning a minimum 5,000 m surface diamond
drilling program at Bermingham in 2017 primarily to expand high
grade mineralization down-plunge into an area where, as an outcome
of 2016 drilling, the Bermingham vein system is observed to closely
imitate the large-scale looping vein geometries observed at the
largest past-producing mine in the district, the Hector-Calumet
mine (96 million ounces of silver). Subject to permitting
requirements, the Company is also contemplating an underground
exploration program at Bermingham to infill and upgrade the higher
grade areas in the shallower portion of the resource.
References
Boyle, R.W., 1965.
"Geology, Geochemistry, and Origin of the Lead-Zinc-Silver
Deposits of the Keno Hill – Galena Hill Area, Yukon Territory". Bulletin 111, Geological
Survey of Canada.
Cathro, R.J., 2006.
"The History and Geology of the Keno Hill Silver Camp Yukon
Territory." Geoscience Canada, Volume 33, Number 3.
Qualified Persons
SRK prepared the updated mineral resource estimate for the
Bermingham deposit, and is independent of Alexco for purposes of
National Instrument 43-101 ‑ Standards of Disclosure for Mineral
Projects ("NI 43-101"). The Bermingham mineral resource
estimate was completed by Dr. Gilles
Arseneau, P.Geo., Associate Consultant (Resource Geology)
with SRK, whom is Qualified Persons as defined by NI 43-101.
Dr. Arseneau has reviewed, verified and approved the contents
of this news release relating to the mineral resource estimate for
the Bermingham deposit. All mineral resources are classified
following the CIM Definition Standards for Mineral Resources and
Mineral Reserves (May 2014), in
accordance with the CIM Estimation of Mineral Resources and Mineral
Reserves Best Practice Guidelines and with NI 43-101
guidelines.
The metallurgical testing information in this news release has
been reviewed and verified by Jeffrey B.
Austin P. Eng., President International Metallurgical and
Environmental Inc. and a Qualified Person as defined by NI
43-101.
The disclosure of all other scientific and technical information
in this news release regarding projects on Alexco's mineral
properties has been reviewed and approved by Alan McOnie, FAusIMM, Alexco's Vice President,
Exploration and a Qualified Person as defined by NI 43-101.
The drill data and sampling protocols have been reviewed,
verified and compiled by Alexco's geologic staff since 2011 under
the supervision of Alan McOnie, Vice
President, Exploration for Alexco and a Qualified Person as defined
by National Instrument 43-101 and previously by Stan Dodd, 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 included in the updated
resource estimation were shipped to ALS Minerals Labs at
Whitehorse, Yukon Territory for
preparation, with fire assay, multi-element ICP analyses and ore
grade over limits completed at the ALS Minerals facility in
North Vancouver, British
Columbia.
About Alexco
Alexco Resource Corp. owns the Bellekeno silver mine, one of
several mineral properties held by Alexco which encompass
substantially all of the historical KHSD located in Canada's Yukon
Territory. Employing a unique business model, Alexco also
provides mine-related environmental services, remediation
technologies and reclamation and mine closure services to both
government and industry clients through the Alexco Environmental
Group, its wholly-owned environmental services division.
Please visit the Alexco website at www.alexcoresource.com
Some statements ("forward-looking statements") in this news
release contain forward-looking information concerning the
Company's anticipated results and developments in the Company's
operations in future periods, planned exploration and development
of its properties, plans related to its business and other matters
that may occur in the future, made as of the date of this news
release. Forward-looking statements may include, but are not
limited to, statements with respect to future remediation and
reclamation activities, future mineral exploration, the estimation
of mineral reserves and mineral resources, the realization of
mineral reserve and mineral resource estimates, future mine
construction and development activities, future mine operation and
production, the timing of activities and reports, the amount of
estimated revenues and expenses, the success of exploration
activities, permitting time lines, requirements for additional
capital and sources and uses of funds. Forward-looking
statements are subject to a variety of known and unknown risks,
uncertainties and other factors which could cause actual events or
results to differ from those expressed or implied by the
forward-looking statements. Such factors include, among
others, risks related to actual results and timing of exploration
and development activities; actual results and timing of mining
activities; actual results and timing of environmental services
activities; actual results and timing of remediation and
reclamation activities; conclusions of economic evaluations;
changes in project parameters as plans continue to be refined;
future prices of silver, gold, lead, zinc and other commodities;
possible variations in mineable resources, grade or recovery rates;
failure of plant, equipment or processes to operate as anticipated;
accidents, labour disputes and other risks of the mining industry;
First Nation rights and title; continued capitalization and
commercial viability; global economic conditions; competition; and
delays in obtaining governmental approvals or financing or in the
completion of development activities. Forward-looking
statements are based on certain assumptions that management
believes are reasonable at the time they are made. In making
the forward-looking statements included in this news release, the
Company has applied several material assumptions, including, but
not limited to, the assumption that market fundamentals will result
in sustained silver, gold, lead and zinc demand and prices.
There can be no assurance that forward-looking statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
The Company expressly disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as otherwise
required by applicable securities legislation.
APPENDIX I - Summary of Resources
The following table sets forth the estimated resources for
Alexco's mineral properties within the Keno Hill Silver
District:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Category1,2,11
|
Property
|
|
|
Tonnes
|
|
Ag
(g/t)
|
|
Au
(g/t)
|
|
Pb
(%)
|
|
Zn
(%)
|
|
Contained
Ag (oz)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indicated
|
Bellekeno
Deposit3&4
|
262,000
|
|
585
|
|
n/a
|
|
3.5%
|
|
5.3%
|
|
4,927,000
|
|
|
|
Lucky Queen
Deposit3&5
|
124,000
|
|
1,227
|
|
0.2
|
|
2.6%
|
|
1.7%
|
|
4,892,000
|
|
|
|
Flame & Moth
Deposit3&6
|
1,638,000
|
|
506
|
|
0.4
|
|
1.9%
|
|
5.4%
|
|
26,650,000
|
|
|
|
Onek3&7
|
|
|
654,000
|
|
200
|
|
0.6
|
|
1.3%
|
|
12.3%
|
|
4,205,000
|
|
|
|
Bermingham3&8
|
|
|
858,000
|
|
628
|
|
0.1
|
|
2.4%
|
|
1.7%
|
|
17,318,000
|
|
|
|
Total Indicated –
Sub-Surface
|
3,536,000
|
|
510
|
|
n/a
|
|
2.1%
|
|
5.6%
|
|
57,992,000
|
|
|
|
Elsa
Tailings9
|
|
2,490,000
|
|
119
|
|
0.1
|
|
1.0%
|
|
0.7%
|
|
9,527,000
|
|
|
|
Total Indicated –
All Deposits
|
6,026,000
|
|
349
|
|
n/a
|
|
1.6%
|
|
3.6%
|
|
67,519,000
|
Inferred
|
Bellekeno
Deposit3&4
|
243,000
|
|
428
|
|
n/a
|
|
4.1%
|
|
5.1%
|
|
3,344,000
|
|
|
|
Lucky Queen
Deposit3&5
|
150,000
|
|
571
|
|
0.2
|
|
1.4%
|
|
0.9%
|
|
2,754,000
|
|
|
|
Flame & Moth
Deposit3&6
|
348,000
|
|
366
|
|
0.3
|
|
0.5%
|
|
4.4%
|
|
4,095,000
|
|
|
|
Onek3&7
|
|
|
234,000
|
|
134
|
|
0.4
|
|
1.2%
|
|
8.9%
|
|
1,008,000
|
|
|
|
Bermingham3&8
|
|
|
220,000
|
|
770
|
|
0.2
|
|
2.1%
|
|
2.2%
|
|
5,451,000
|
|
|
|
Total
Inferred
|
|
|
1,027,000
|
|
433
|
|
n/a
|
|
1.8%
|
|
4.6%
|
|
16,652,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Historical
|
Silver
King10
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Resources
|
-
Proven, probable and indicated
|
98,998
|
|
1,354
|
|
n/a
|
|
1.6%
|
|
0.1%
|
|
4,310,000
|
|
|
-
Inferred
|
22,581
|
|
1,456
|
|
n/a
|
|
0.1%
|
|
n/a
|
|
1,057,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes:
|
1.
|
|
All mineral resources
are classified following the CIM Definition Standards for Mineral
Resources and Mineral Reserves (May 2014), in accordance with the
CIM Estimation of Mineral Resources and Mineral Reserves Best
Practice Guidelines and the guidelines of NI 43-101.
|
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.
|
|
The Keno Hill Silver
District is comprised of five deposits: Bellekeno, Lucky
Queen and Flame & Moth, Onek and Bermingham, of which
Bellekeno, Lucky Queen and Flame & Moth are incorporated into
the current mine plan outlined in the technical report filed on
SEDAR dated December 10, 2014 entitled "Updated Preliminary
Economic Assessment for the Keno Hill Silver District Project –
Phase 2, Yukon, Canada". The mineral resource estimates for the
project are supported by (a) disclosure in the news release dated
December 23, 2014 entitled "Alexco Updates Positive Preliminary
Economic Assessment for Expanded Silver Production from Keno Hill
Silver District, Yukon"; and (b) a technical report filed on SEDAR
dated December 10, 2014 entitled "Updated Preliminary Economic
Assessment for the Keno Hill Silver District Project – Phase 2,
Yukon, Canada". The mineral resource estimates for the Flame &
Moth deposit is further supported by disclosure in the news release
dated April 30, 2015 entitled "Alexco Announces Indicated Silver
Resource Estimate Increases of 17% at Flame & Moth and 26% at
Bermingham, Resulting in a 10% Increase Overall for Keno Hill
Silver District".
|
4.
|
|
The resource
estimates for the Bellekeno deposit are based on a geologic
resource estimate having an effective date of September 30, 2012.
The Bellekeno indicated resources are as at September 30, 2013, and
reflect the geologic resource less estimated subsequent depletion
from mine production.
|
5.
|
|
The mineral resource
estimates for the Lucky Queen deposit have an effective date of
July 27, 2011.
|
6.
|
|
The mineral resource
estimates for the Flame & Moth deposit have an effective date
of April 28, 2015.
|
7.
|
|
The mineral resource
estimates for Onek have an effective date of October 15,
2014.
|
8.
|
|
The mineral resource
estimates for Bermingham have an effective date of January 3,
2017.
|
9.
|
|
The mineral resource
estimate for the Elsa Tailings has an effective date of April 22,
2010, and is supported by the technical report dated June 16, 2010
entitled "Mineral Resource Estimation, Elsa Tailings Project,
Yukon, Canada".
|
10.
|
|
Historical mineral
resources for Silver King are supported by disclosure in the news
release dated December 23, 2014 entitled "Alexco Updates Positive
Preliminary Economic Assessment for Expanded Silver Production from
Keno Hill Silver District, Yukon"
|
11.
|
|
The disclosure
regarding the summary of estimated mineral resources for Alexco's
mineral properties within the Keno Hill District has been reviewed
and approved by Scott Smith, P.Eng., former Bellekeno Mine Manager
and a Qualified Person as defined by NI 43-101.
|
|
|
|
APPENDIX II - Bermingham Resource Estimate by Vein and
Vein Margin
|
|
|
|
|
|
|
|
|
Deposit
|
Zone
|
Class
|
Tonnes
|
Ag
(g/t)
|
Pb
(%)
|
Zn
(%)
|
Au
(g/t)
|
Ag
(troy ounces)
|
Bermingham
|
Bermingham
Vein
|
Indicated
|
220,000
|
432
|
1.9
|
1.7
|
0.13
|
3,062,000
|
|
|
Inferred
|
23,000
|
583
|
2.7
|
2.8
|
0.16
|
424,000
|
|
Bermingham
Vein Margin
|
Indicated
|
152,000
|
332
|
1.5
|
1.5
|
0.07
|
1,621,000
|
|
|
Inferred
|
26,000
|
356
|
1.3
|
1.7
|
0.09
|
303,000
|
|
Bear Vein
|
Indicated
|
49,000
|
2,543
|
7.5
|
2.7
|
0.37
|
4,017,000
|
|
|
Inferred
|
25,000
|
550
|
2.9
|
1.9
|
0.18
|
447,000
|
|
Bear Vein
Margin
|
Indicated
|
99,000
|
794
|
3.0
|
1.3
|
0.14
|
2,515,000
|
|
|
Inferred
|
43,000
|
505
|
2.5
|
0.7
|
0.11
|
699,000
|
|
Bermingham
Footwall
Vein
|
Indicated
|
167,000
|
657
|
3.0
|
1.7
|
0.16
|
3,536,000
|
|
|
Inferred
|
62,000
|
1,407
|
1.3
|
3.5
|
0.19
|
2,815,000
|
|
Bermingham
Footwall
Vein Margin
|
Indicated
|
150,000
|
430
|
1.3
|
1.5
|
0.06
|
2,067,000
|
|
|
Inferred
|
36,000
|
442
|
1.1
|
1.4
|
0.09
|
518,000
|
|
West-Dipper
Vein
|
Indicated
|
13,000
|
932
|
3.4
|
2.8
|
0.15
|
388,000
|
|
|
Inferred
|
4,000
|
1,818
|
17.4
|
8.3
|
0.55
|
244,000
|
|
West-Dipper
Vein Margin
|
Indicated
|
8,000
|
421
|
1.0
|
1.7
|
0.06
|
115,000
|
|
|
Inferred
|
-
|
-
|
-
|
-
|
-
|
-
|
Total
|
All Veins
and Vein
Margins
|
Indicated
|
858,000
|
628
|
2.4
|
1.7
|
0.13
|
17,321,000
|
|
|
Inferred
|
220,000
|
770
|
2.1
|
2.2
|
0.15
|
5,450,000
|
|
Notes:
|
1.
|
|
The effective date of
this mineral resource estimate is January 3, 2017.
|
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 (US$0.80=C$1)
using consensus long term metal prices (US$) and recoveries
developed for the nearby Bellekeno deposit (Ag US$20.00/oz,
recovery 96%; Pb US$0.95/lb, recovery 97%; Zn US$1.00/lb,
recovery 88%; Au US$1,300/oz, recovery 72%).
|
4.
|
|
Ag grades capped at
1,500 grams per tonne ("g/t"); Zn capped at 9.5%; Pb capped at 9%
for the Bermingham vein.
|
5.
|
|
Ag grades capped at
11,000 g/t, Zn capped at 7% and Pb capped at 20% for the Bear
Vein.
|
6.
|
|
Ag grades capped at
3,000 g/t, Zn capped at 9% and Pb capped at 30% for the Bermingham
Footwall vein.
|
7.
|
|
Ag grades capped at
2,000, Zn capped at 12% and Pb capped at 20% for the West Dipper
vein.
|
8.
|
|
Table numbers may not
add up due to rounding.
|
|
|
|
SOURCE Alexco Resource Corp.