• Connect with us
    • Information
      • About Us
      • Contact Us
      • Careers
      • Partnerships
      • Advertise With Us
      • Authors
      • Browse Topics
      • Events
      • Disclaimer
      • Privacy Policy
    • Australia
      North America
      World
    Login
    Investing News NetworkYour trusted source for investing success
    • North America
      Australia
      World
    • My INN
    Videos
    Companies
    Press Releases
    Private Placements
    SUBSCRIBE
    • Reports & Guides
      • Market Outlook Reports
      • Investing Guides
    • Button
    Resource
    • Precious Metals
    • Battery Metals
    • Base Metals
    • Energy
    • Critical Metals
    Tech
    Life Science
    Precious Metals Market
    Precious Metals News
    Precious Metals Stocks
    • Precious Metals Market
    • Precious Metals News
    • Precious Metals Stocks
    silver investing

    Drill Tracker Weekly: Alexco Intersects High-grade Silver at Bermingham Deposit

    Wayne Hewgill
    Sep. 22, 2015 12:35PM PST
    Precious Metals
    TSX:AXR

    Highlights include 4.98 meters (true width) grading 7,462 g/t silver, 0.65 g/t gold, 8.8 percent lead and 0.43 percent zinc from a depth of 305 meters.


    Drill Tracker Weekly is not exclusive to Resource Investing News and is published with permission from Mackie Research Capital Corporation. It highlights drilling results in context with our database of over 10,000 drilling and trenching results. The purpose of this report is to highlight drilling and trenching results that stand out from the pack and compare them to their peer group. This report does not constitute initiation of coverage or a recommendation.

    Alexco Resource (TSX:AXR)

    Price: $0.61

    Market cap: $42 million

    Cash estimate: $7.5 million

    Project: Keno Hill

    Country: Canada

    Ownership: 100 percent

    Resources: 585,000 tonnes @ 693 g/t Ag, 0.52 g/t Au, 2.9% Pb, 5.35% Zn

    Project status: Mine on care and maintenance, PEA complete

    • Alexco Resource Corp. announced results from its 2015 drill program on the Bermingham 100% owned Keno Hill property in the Yukon Territory, Canada. Alexco acquired the Keno Hill project in 2006 as part of an environmental clean-up project which still generates revenues for the Company.
    • Highlights from the current drilling include 4.98 metres (true width) grading 7,462 g/t Ag, 0.65 g/t Au, 8.8% Pb and 0.43% Zn from a depth of 305 metres and 4.76 metres at 2,357 g/t Ag, 0.29 g/t Au, 5.3% Pb and 0.11% Zn.
    • The Company operated the Keno Hill Mine between 2011 and 2013 when low silver prices forced them to put the mine on care and maintenance. Over this time the Mine produced 5.5 million ounces of Ag at an average cash cost of $11.81 per ounce payable silver. The current resource estimate (2104) totals 5.5 million tonnes in the indicated class grading 311 g/t Ag, 1.5% Pb and 3.8% Zn with an additional 1.0 million tonnes of inferred resource at 363 g/t Ag, 1.7% Pb and 4.9% Pb.
    • Planned production (contingent on higher silver prices and/or lower operating costs) is focused on the Flame and Moth deposits which comprise about one third of the indicated resource. The current drilling at Bermingham is outside of the 377,000 tonnes of indicated material all of which is not included in the PEA. Permitting is underway at Flame and Moth which was estimated in the Dec 10, 2014 PEA to have Potential Minable Tonnes of 585,000 grading 693 g/t Ag, 0.52 g/t Au, 2.9% Pb and 5.35% Zn. The restart and development of the Flame and Moth is estimated to have a capital cost of $20 million.
    • In June 2014, the Company amended the steaming agreement with Silver Wheaton (TSX:SLW) to fix the amount pad for any production relative to the spot silver price. The amended agreement is contingent on Alexco paying Silver Wheaton US $20 million by December 2015.

    Development history: Mined 1913 to 1988. Production post 1941 – 217 million oz Ag @ 40.5 opt. Alexco operated mine 2001-2013.

    Current drilling: 4.98 metres @ 7,462 g/t Ag, 0.65 g/t Au, 8.8% Pb; 4.76 metres @ 2,357 g/t Ag, 0.29 g/t Au, 5.3% Pb

     
    Risk Analysis
    Data contained in DRILL TRACKER WEEKLY is based on early stage exploration activity. The results are obtained at the very early stages of exploration and therefore, individual results may not be reproducible with additional trenching or drilling, nor may the results ultimately lead to the discovery of an economic deposit. Delineation of a resource body requires an extensive data gathering exercise according to guidelines set out in National Instrument 43-101 before investors can be reliably assured of a competent body of mineralization that may be of economic interest. DRILL TRACKER WEEKLY is designed to highlight individual trench or drill results, which stand out as being materially anomalous and are particularly worth of note – a type of early warning flag for a particular property that warrants further attention. Hence, DRILL TRACKER WEEKLY does not provide a recommendation to buy, sell or hold a specific equity – it is an information reference source to help quantify the meaning and relevance of early stage exploration results.
    Relevant Disclosures Applicable to: Drill Tracker Weekly

    1. The research analyst or a member of the research analyst’s household owns and/or has options to acquire shares of the subject issuer. At the date of this release the author, Wayne Hewgill, owns no shares in the companies in this report. 
    2. Lake Shore Gold Corp. (LSG) is covered by Mackie Research Capital Corp. by analyst Barry Allan.

    Analyst Certification
    I, Wayne Hewgill certify that the information in this report is sourced through public documents that are believed to be reliable but accuracy and completeness as represented in this report cannot be guaranteed. The author has not received payment from any of the companies covered in this report. This report makes no recommendations to buy, sell or hold. Each analyst of Mackie Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

    silver investingtsx:axrdrill resultstsx:slwspot silvermackie research capital corpcanadamackie research capitalalexco resource
    The Conversation (0)

    Go Deeper

    AI Powered
    TSX:III

    Drill Tracker Weekly: Skeena Extends Mineralization to Depth at Spectrum

    Class 1 Nickel Provides Update on Phase 1 Drill Program at Dundonald South Deposit, Alexo-Dundonald Property Timmins (Ontario)

    Class 1 Nickel Provides Update on Phase 1 Drill Program at Dundonald South Deposit, Alexo-Dundonald Property Timmins (Ontario)

    Latest News

    Apollo to Proceed with 5-for-1 Share Consolidation

    Heliostar Presents Second Quarter 2025 Financial Results

    Drilling Success Confirms & Extends Gold System

    Target Defining Auger Campaign Commenced at Kandia

    Sinomine and Cobre Execute Investment Agreement in Botswana

    More News

    Outlook Reports

    Resource
    • Precious Metals
      • Gold
      • Silver
    • Battery Metals
      • Lithium
      • Cobalt
      • Graphite
    • Energy
      • Uranium
      • Oil and Gas
    • Base Metals
      • Copper
      • Nickel
      • Zinc
    • Critical Metals
      • Rare Earths
    • Industrial Metals
    • Agriculture
    Tech
      • Artificial Intelligence
      • Cybersecurity
      • Gaming
      • Cleantech
      • Emerging Tech
    Life Science
      • Biotech
      • Cannabis
      • Psychedelics
      • Pharmaceuticals

    Featured Precious Metals Stocks

    Cobre Limited

    CBE:AU

    Prismo Metals

    PRIZ:CNX

    Anteros Metals

    ANT:CC

    Locksley Resources

    LKY:AU

    Silver47 Exploration

    AGA:CC

    Apollo Silver

    APGO:CA
    More featured stocks

    Browse Companies

    Resource
    • Precious Metals
    • Battery Metals
    • Energy
    • Base Metals
    • Critical Metals
    Tech
    Life Science
    MARKETS
    COMMODITIES
    CURRENCIES
    ×