Alexco Updates Mineral Resource Estimates for Yukon-based Deposits

Alexco Resource Corp. (TSX:AXR,NYSEMKT:AXU) announced updated mineral resource estimates for both its Flame & Moth and Bermingham deposits, located in the Yukon.

As quoted in the press release:

The Flame & Moth indicated mineral resource estimate is expanded from approximately 22.9 million ounces to approximately 26.7 million ounces of contained silver, representing a 17% increase, while inferred mineral resources in the same deposit increased from approximately 1.1 million ounces to 4.1 million ounces of contained silver. At Bermingham, indicated mineral resources have expanded from 3.8 million ounces to 5.2 million ounces of contained silver. These resources have resulted in an approximate 10% increase from 50.2 million ounces to 55.4 million ounces of contained silver in Alexco’s combined indicated mineral resources at its Keno Hill properties. These overall increases in mineral resource estimates are the result of approximately 18,000 meters of surface diamond drilling completed in 2014.

Clynt Nauman, president and CEO of Alexco, commented:

Once again our exploration geologists have demonstrated the tenor and continuity of silver mineralization at Keno Hill, increasing district-wide indicated silver resources for the sixth year in a row. This is especially important at the Flame & Moth deposit, which in aggregate is now the second largest deposit ever discovered in the historic district. Even more impressive, the Flame & Moth deposit is essentially a blind discovery, with an average grade of more than 500 grams per tonne (g/t) and average true thicknesses of 4 to 5 meters with higher grades for more than half of its approximately one kilometer traceable length. And therein lies our confidence in exploration to unlock additional value in the district, and our commitment to continued exploration in 2015.

Click here to read the full Alexco Resource Corp. (TSX:AXR,NYSEMKT:AXU) press release.

Alexco Resource Corp. owns substantially all of the historical Keno Hill Silver District located in Canada’s Yukon Territory, including the Bellekeno silver mine, the Flame & Moth, Lucky Queen, Bermingham and Onek deposits, and other historic and surface resources within the district. Bellekeno, which commenced commercial production at the beginning of calendar year 2011, was Canada’s only operating primary silver mine from 2011 to 2013. Alexco is currently undergoing an interim suspension of operations at Keno Hill in order to decrease costs and reposition the district for long-term, sustainable operations. Between 1921 and 1988, the Keno Hill Silver District was a world-class silver producer, with more than 217 million ounces of silver produced at average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government’s Minfile database). These historical production grades would rank Keno Hill in the top 3% by grade of today’s global silver producers. 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.