VANCOUVER, Dec. 2, 2019 /PRNewswire/ - Alexco
Resource Corp. (NYSE‑American: AXU) (TSX: AXU) ("Alexco" or the
"Company") is pleased to announce that it has been issued an
amended Quartz Mining License ("QML") for the Keno Hill Silver
District from the Yukon Government. The amended QML is effective
for 17 years and applies to the Bermingham, Flame & Moth,
Bellekeno, Lucky Queen silver deposits, and the Onek zinc-silver deposit.
Amendment of the Company's QML was necessary to incorporate the
Bermingham deposit into the Keno District Operations mine plan. The
amended QML authorizes underground operations for development and
production from Alexco's Bermingham, Flame & Moth, Bellekeno,
Lucky Queen and Onek deposits as well
as construction and management of mine waste rock and dry stack
tailings facilities. The QML also extends the authorization to
operate and maintain the 400 tonne per day Keno District Mill and
associated ancillary facilities, construct and maintain the
district wide surface haulage roads as well as operation of the
Company's 200-person camp located adjacent to the historical Elsa
township.
Complementary to the QML is the pending renewal of the Company's
Water Use License ("WUL"), currently in the final stages of the
permitting process. When issued, the WUL will incorporate the
Bermingham deposit as well as renew current authorizations at all
other deposits to obtain, use water and deposit treated water from
the associated mine water treatment plants, and deposit tailings
and waste rock into authorized facilities. The Company expects to
provide more guidance on the timing of the final WUL in the near
future.
In addition, Alexco is pleased to announce that Mr. Wayne Zigarlick has joined the Company as Vice
President, Operations – General Manager, Keno Hill. Mr. Zigarlick
has over 30 years' experience in the North American mining industry
and formerly held senior management roles at Echo Bay Mines,
Kinross Gold and Coeur Mining. Over
the past 8 years, Mr. Zigarlick was General Manager at the
Kensington underground mine north
of Juneau, Alaska as well as
General Manager of the Silvertip Mine operations in Northern British Columbia.
Alexco's Chairman and Chief Executive Officer, Clynt Nauman, commented, "We are pleased to have
received the long awaited QML that will allow us to mine ore for
the next 17 years from our four key deposits at Keno Hill. The
issuance of this permit enables us to immediately advance the
remaining underground development necessary to reach the production
areas at Flame & Moth and Bermingham. With the Water Use
licensing process in its final stage, we remain on track to restart
operations in 2020, subject to a positive production decision.
Furthermore, we are delighted to welcome Wayne Zigarlick who will further strengthen our
management team. Wayne's extensive experience in all aspects of
administration, underground mining operations, and community
engagement will be a significant benefit to our Company and the
Yukon communities in which we
work."
Qualified Persons
The disclosure in this news release of scientific and technical
information regarding mine development and operations on Alexco's
mineral properties has been reviewed and approved by Neil Chambers, P.Eng., Mine Superintendent, whom
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.
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SOURCE Alexco Resource Corp.