UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form 6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT
TO RULE 13a-16 OR 15d-16
UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of September 2019. |
Commission File
Number 001-33621 |
ALEXCO RESOURCE
CORP.
(Translation
of registrant's name into English)
Suite 1225,
Two Bentall Centre
555 Burrard
Street, Box 216
Vancouver,
BC V7X 1M9 Canada
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): [ ]
Indicate
by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): [ ]
SUBMITTED
HEREWITH
SIGNATURES
Pursuant to
the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.
|
|
|
ALEXCO RESOURCE CORP. |
|
|
|
(Registrant) |
|
|
|
|
|
|
By: |
/s/ Mike Clark |
|
Date: September 10, 2019 |
|
|
Mike Clark
Chief Financial Officer |
Exhibit 99.1
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
VANCOUVER, Sept. 10, 2019 /CNW/ - Alexco
Resource Corp. (NYSE American: AXU) (TSX: AXU) ("Alexco" or the "Company") 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 ("m") 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 ("g/t") (45.46 ounces per tonne ("oz/t"))
silver ("Ag") 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 ("NI 43-101").
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.
Some statements ("forward-looking statements")
in this news release contain forward-looking information concerning Alexco's anticipated results and developments in Alexco'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 the 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, Alexco has applied several material assumptions, including, but not limited to, the assumption
that Alexco will be able to raise additional capital as necessary, that the proposed exploration and development will proceed as
planned, and 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. Alexco 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.
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 |
|
|
|
|
|
|
|
|
|
Figure 1 – Drill Hole Locations (CNW
Group/Alexco Resource Corp.)
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 |
|
|
|
|
|
|
View original content to download multimedia:http://www.prnewswire.com/news-releases/alexco-intersects-8-1-meters-true-width-at-composite-grade-of-1-414-grams-per-tonne-45-5-ozt-silver-at-bermingham-deep-target-300914745.html
SOURCE Alexco Resource Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/September2019/10/c6119.html
%CIK: 0001364128
For further information: Clynton R. Nauman, Chairman and Chief
Executive Officer, Kettina Cordero, Director of Investor Relations, Phone: (778) 945-6577, Email: kcordero@alexcoresource.com,
www.alexcoresource.com
CO: Alexco Resource Corp.
CNW 08:00e 10-SEP-19
This regulatory filing also includes additional resources:
ex991.pdf
Alexco Resource (AMEX:AXU)
Historical Stock Chart
From Apr 2024 to May 2024
Alexco Resource (AMEX:AXU)
Historical Stock Chart
From May 2023 to May 2024