The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
AXR:TSX / AXU:NYSE-MKT
President and CEO: Clynton Nauman
Executive VP and COO: Brad Thrall
Vice President, Exploration: Alan McOnie
Alexco Resource Corp. owns the Bellekeno silver-zinc-lead mine, as well as a number of other mineral properties within historic Keno Hill Silver District of central Yukon Territory.
Bellekeno began commercial production at the beginning of 2011, but was temporarily suspended late in 2013 due to lower silver prices.
Based on roughly 18,000 meters of drilling completed in 2014, Alexco published an updated resource for the Flame & Moth and Bermingham deposits at Keno Hill.
Flame & Moth contains 1.64 million metric tons of indicated resources of averaging 506 grams per metric ton (26.7 million ounces) silver, and 348,000 metric tons of inferred resources averaging 366 g/t (4.1 million oz) silver.
Bermingham has 377,000 metric tons of indicated resources averaging 430 g/t (5.2 million oz) silver and 52,000 metric tons of inferred resources averaging 477 g/t (797,000 oz) silver.
The company is currently carrying out engineering and optimization work for the future development of Flame & Moth, Bellekeno and Lucky Queen.
With a budget of roughly C$1.6 million, Alexco's 2015 exploration program included 2,595 meters of surface drilling primarily to follow up on the successful results at Bermingham, where one hole drilled in 2014 cut 6.39 meters (true width) averaging 5,667 g/t silver.
In September, the company reported high-grade silver intercepts from eight holes drilled this year, including one hole that cut 4.98 meters (true width) averaging 7,462 g/t silver.
Alexco President and CEO Clynt Nauman said the open-ended 40- by 140-meter zone of high-grade silver mineralization outlined by this year's drilling at Bermingham "may be a game changer for the future of Keno Hill." Alexco continues to monitor global markets as it decides when to resume mining the expanding high-grade silver deposits across its Keno Hill Silver District property.
Cash and short-term deposits:
C$7.5 million (June 30, 2015)
Working capital: C$9.6 million
(June 30, 2015)
Market capitalization:
C$44 million (Sept. 18, 2015)
200 Granville Street Suite 1150, Vancouver, BC Canada V6C 1S4
Tel: 604-633-4888 Fax: 604-633-4887
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