DAILY NEWS Jan 31, 2013 4:25 PM - 0 comments

SILVER: Alexco doubles Flame and Moth ounces

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YUKON TERRITORY – Alexco Resource Corp. of Vancouver says continued drilling has doubled the contained silver ounces at its Flame and Moth deposit since the initial resource estimate was published seven months ago. The deposit is in the Keno Hill Silver District and the indicated resource continues 22.9 million oz of silver, compared to 11.1 million oz in June 2012.

The silver is contained in 1.4 million indicated tonnes grading 416 g/t Ag, 0.42 g/t Au, 1.72% Pb and 4.70% Zn. The inferred resource is 107,000 tonnes grading 313 g/t Ag, 0.27 g/t Au, 0.86% Pb and 4.21% Zn or 1.1 million oz of silver.

The Flame and Moth deposit remains open to the south and east and also westerly up dip toward the surface at the northern extent of drilling. Exploration will continue this year.

Alexco president and CEO Clynt Nauman said, "The thickness of mineralization, the continuity of the deposit, its robust grade and the fact that this deposit comes to surface under approximately 20 meters of gravels opens up a number of potential development options for this important discovery. As a result of this success, we are initiating engineering and baseline studies on the Flame and Moth deposit."

"In the meantime, we are forging ahead with our plans to commence production from our second and third mines, Onek and Lucky Queen, where we recently received a quartz mining license and anticipate award of a water license in the near future,"

A brief history of the Keno Hill Silver District as well as more information about Alexco's projects are posted at AlexcoResource.com.

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Alexco Resource Corp

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