The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
AXR: TSX/AXU/NYSE-A
President and CEO: Clynton R. Nauman
Chief Operating Officer: Brad A. Thrall
Vice President, Exploration: Stan Dodd
Alexco Resource Corp., founded in 2004 in British Columbia, is a precious metals exploration company with a silver focus and a growing environmental services business.
After completing an initial public offering in January 2006 on the TSX, Alexco has successfully established itself on two fronts.
The company and two subsidiaries, Access Mining Consultants Ltd. and Alexco Resource US Corp., provide mine-related environmental consulting services, reclamation and mine closure services, as well as environmental remediation technologies to both government and industry clients.
Alexco also conducts exploration programs at abandoned mine sites and elsewhere.
Alexco's primary exploration objective currently is to unlock value in the silver-rich Keno Hill district, which covers about 23,350 hectares, or 56,274 acres, in north-central Yukon Territory.
Between 2006 and 2008, Alexco has drilled 181 holes totaling about 44,800 meters in 14 of the district's 35 historic mine areas, flown 2,016 line-kilometers of airborne geophysics and compiled some 35,000 historical documents into a 300-gigabyte digital database/library of geologic information.
Its plans for 2009 included surface drilling adjacent to Bellekeno, follow-up work, continued systematic drill evaluation of untested historical mine areas, and a new program designed to begin testing for "blind" deposits based on recently completed computer modeling of district-wide historical data.
By June, Alexco had drilled more than half the 10,000 meters of underground definition and exploration drilling it planned for the year at Bellekeno. The explorer initiated detailed mine planning, including detailed engineering for mine and mill complexes through third-party consultants, and is coordinating this activity with the underground drilling and a potential bulk sampling program so as to achieve commercial production at Bellekeno in 2010.
Alexco also embarked on an 8,000- to 10,000-meter surface drilling program on its Keno Hill properties and won a key recommendation from the Yukon Environmental and Socio-economic Assessment Board.
Cash and short-term deposits: C$11.77 million (at March 31, 2009)
Working capital: C$20.93 million, including unexpended balance of Silver Wheaton deposit payments (at March 31, 2009)
Market capitalization: C$118.9 million
200 Granville St, Suite 1150 Vancouver, BC Canada V6C 1S4
Tel: 604-633-4888
Fax: 604-633-4887
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