VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/04/13 -- Alexco Resource Corp. (TSX: AXR)(NYSE MKT: AXU) today announced results from the 2012 drilling program at its Bermingham and Husky properties in the Keno Hill Silver District in Canada's Yukon Territory.
At the Bermingham prospect, an additional 5,599 meters of drilling in 17 holes in 2012 has confirmed and expanded the area of previously discovered silver mineralization across a number of juxtaposed fault blocks. An earlier resource estimate at Bermingham identified 3.8 million ounces of indicated silver resource and a further 1.2 million ounces of inferred silver resource (see news release dated June 28, 2012 titled "Alexco Announces Initial Resource Estimates for Flame & Moth and Bermingham").
The 2012 results include up to 4.0 meters (true width) of 47.8 ounces per ton (opt) (1,640 grams per tonne (gpt)) silver which was intercepted approximately 300 meters east of the originally-defined resource. In addition, gold intercepts to 0.43 opt (14.8 gpt) gold over approximately 1.0 meter were drilled some 500 meters further along strike to the east. Silver mineralization is now known to extend at least 500 meters along strike and 400 meters down dip in the Bermingham area, and remains open. Review and update of the Bermingham resource is ongoing.
At the Husky prospect, located approximately 4 kilometers west of Bermingham, silver mineralization comprising 1.8 meters (true thickness) of 13.8 opt (474 gpt) silver has been intersected 200 meters below the lowest workings of the historical Husky mine and in a previously unknown vein structure in the footwall of the primary Husky structure.
Alexco President and CEO, Clynt Nauman, commented, "Bermingham is an integral part of our continuing program to build our consolidated silver resource inventory in the Keno Hill District, which inventory now totals 51.3 million indicated, 7.7 million inferred and 5.4 million historical silver ounces (see "Properties - Mineral Resources" at www.alexcoresource.com). The discovery of gold is important as the Keno Camp was traditionally presumed to be gold poor, which is now not the case at either our new Flame & Moth deposit, or at Bermingham. The Husky discovery, about 200 meters below historical workings, continues to demonstrate the vertical and lateral strength of the Keno Hill silver mineralizing systems adjacent to many historical workings."
2012 Bermingham Drill Assay Highlights
-- K-12-0477 intercepted the Bermingham structure over a true width of approximately 3.97 meters from 299.72 meters with an overall average silver grade of 1,640 gpt (47.83 opt). This intercept comprises a splay vein from 299.72 meters containing a composite assay value of 4,318 gpt silver (125.94 opt) over a true width of 0.75 meters, as well as the main Bermingham Vein from 302.97 meters containing a composite assay value of 2,467 gpt silver (71.96 opt) over 1.30 meters true width, including a smaller intercept of 0.28 meters true width from 303.50 meters that graded 10,065 gpt silver (293.55 opt).-- K-12-0465 intersected the Bermingham Vein over 2.01 meters true width from 224.13 meters with a composite assay value of 1,894 gpt silver (55.23 opt) that included 0.49 meters true width from 224.13 meters that graded 7,328 gpt silver (213.75 opt).-- K-12-0446 intersected the Bermingham Vein over 4.92 meters true width from 229.81 meters with a composite assay value of 646 gpt silver (18.84 opt) that included 1.07 meters true width from 230.72 meters that graded 2,440 gpt silver (71.17 opt). K-12-0446 also intersected the Aho Vein over 0.53 meters true width from 85.64 meters with an assay value of 10.30 gpt gold (0.30 opt) and 98 gpt silver (2.84 opt).-- K-12-0459 intersected the Bermingham Vein over 1.73 meters true width from 258.03 meters with a composite assay value of 884 gpt silver (25.79 opt) that included 0.78 meters true width from 258.42 meters that graded 1,853 gpt silver (54.03 opt).-- K-12-0485 intersected the Aho Vein over 0.99 meters true width from 154.83 meters with an assay value of 14.85 gpt gold (0.43 opt).