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SILVER EXPLORATION: Alexco cuts 49-oz silver at Bellekeno

YUKON - Alexco Resource Corp. of Vancouver has intersected 7.8 metres of core that assayed 1,693.4 g/t Ag (49.4 opt...


YUKON — Alexco Resource Corp. of Vancouver has intersected 7.8 metres of core that assayed 1,693.4 g/t Ag (49.4 opt) in the 99 zone of the former Bellekeno mine in the Keno Hill Silver District. The same intersection from hole BKUD09-067 returned 0.443 g/t Au, 8.14% Pb and 8.25% Zn.

 

This is the first time Alexco has drilled the 99 zone, and other holes returned even better grades: 1,863 g/t Ag over 6.0 metres; 2,303 g/t over 2.3 metres; 1,898 g/t over 3.11 metres; 2,448 g/t over 2.1 metres; and 2.176 g/t over 2.0 metres plus gold, lead and zinc values.

 

The underground drilling in the Bellekeno mine upper 99 zone was completed in last month and totalled 1,795 meters in 37 drill holes. Approximately 40% of the planned holes have been completed with the remainder to be drilled from the lower levels of the historical workings in June. In the meantime, drilling is continuing with two drills in the adjacent Southwest zone.

 

Alexco says a construction decision for Bellekeno is anticipated within the next two to three months. A total of US$35 million for construction and development of the mine will be provided by Silver Wheaton upon completion of a mutually acceptable development plan. Under a silver purchase agreement, Silver Wheaton will purchase 25% of future district silver production at a cost of US$3.90 per ounce delivered, plus up-front deposit payments to Alexco totalling US$50 million.

 

Visit www.AlexcoResource.com for information on the Bellekeno and other properties that Alexco holds at Keno Hill.


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