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Significant silver deposits confirmed

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YUKON 

Alexco Resource Corp.’s 2020 surface exploration drilling program results included the discovery of a significant zone of high‐grade silver mineralization beneath the Bermingham deposit. This confirms this is one of the more significant silver deposits in the entire Keno Hill Silver District, rivalling the extent of the historic Hector‐Calumet deposit, which produced 96 million ounces of silver prior to shutting down in 1972. 

The Northeast Deep zone mineralization occurs within a broad, structurally complex corridor that has a horizontal to gentle northeast plunge with an interpreted strike length of approximately 550 m and a dip extent of up to 100 m. To the southwest of the Northeast Deep zone, this same vein intersection and mineralized corridor can be traced over an additional 400 m strike length through the Bear, Arctic and Etta Zones of the Bermingham deposit. In mid‐March 2021, Alexco is planning to launch a large‐scale surface exploration program to drill a minimum of 25,000 m of the Northeast Deep zone mineralization. 

Ramp up of mining and milling operations at Keno Hill continue. Underground activity is focused at the Bellekeno mine where long hole drilling and blasting of residual ore is providing feed to the mill. The mill continues the commissioning process and is operating with a modified schedule to best match the ore delivery from Bellekeno as well as optimizing the metal lurgical performance of the changes to the mill circuit. At the Bermingham mine, underground development is proceeding well – with initial ore production anticipated in Q2 2021. The Alimak raise contractor has completed mobilization and setup and is currently advancing construction of the raise to surface.