VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 1, 2016) - Alexco Resource Corp. (TSX:AXR)(NYSE MKT:AXU) ("Alexco" or the "Company") is pleased to announce that it has begun site preparations for an expanded surface exploration diamond drilling program at its Bermingham prospect in the Keno Hill Silver District, Yukon Territory. The objective of the 2016 exploration drill program is to infill and expand the 2014/2015 high grade silver discovery as well as collect the necessary geotechnical, metallurgical and hydrogeological data required to support an updated resource estimate for the Bermingham deposit, expected to be completed in the fourth quarter of 2016. In addition to exploration work, Alexco will undertake construction and initial development to collar and establish the underground ramp portal and infrastructure necessary for the future development of the Flame & Moth deposit.
2016 Bermingham Exploration Program Highlights
Mining, Other Work at Keno Hill 2016
Signing of Amended Cooperation Agreement with First Nation of Na-Cho Nyak Dun
Alexco's strong financial position as of May 26, 2016 (including the equity financing completed on May 17, 2016) totaling approximately $18 million of unrestricted cash, will enable the Company to complete the currently planned 2016 work programs at Keno Hill.
Qualified Person
The disclosure in the news release of scientific and technical nature regarding exploration projects on Alexco mineral properties has been reviewed and approved by Alan McOnie, FAusIMM, Vice President, Exploration for Alexco, a Qualified Person as defined by National Instrument 43-101.
About Alexco
Alexco Resource Corp. owns the Bellekeno silver mine, one of several mineral properties held by Alexco which encompass substantially all of the historical Keno Hill Silver District located in Canada's Yukon Territory. Employing a unique business model, Alexco also provides mine-related environmental services, remediation technologies and reclamation and mine closure services to both government and industry clients through the Alexco Environmental Group, its wholly-owned environmental services division.
Certain statements ("forward-looking statements") in this news release contain forward-looking information concerning the Company's anticipated results and developments in the Company's operations in future periods, planned exploration and development of its properties, plans related to its business and other matters that may occur in the future, made as of the date of this news release. Forward-looking statements may include, but are not limited to, statements with respect to the future remediation and reclamation activities, future mineral exploration, the estimation of mineral reserves and mineral resources, the realization of mineral reserve and mineral resource estimates, future mine construction and development activities, future mine operation and production, the timing of activities and reports, the amount of estimated revenues and expenses, the success of exploration activities, permitting time lines, requirements for additional capital and sources and uses of funds. In certain cases, forward-looking statements can be identified by the use of words and phrases such as "will", "plans", "expects", "scheduled", "potential" or variations of such words and phrases or statements that certain actions, events or results "should," "may", "would" or "will" occur or be achieved. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors which could cause actual events or results to differ from those expressed or implied by the forward-looking statements. Such factors include, among others, risks related to actual results and timing of exploration and development activities; actual results and timing of mining activities; actual results and timing of environmental services activities; actual results and timing of remediation and reclamation activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of silver, gold, lead, zinc and other commodities; possible variations in mineable resources, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; First Nation rights and title; continued capitalization and commercial viability; global economic conditions; competition; and delays in obtaining governmental approvals or financing or in the completion of development activities. Forward-looking statements are based on certain assumptions that management believes are reasonable at the time they are made. In making the forward-looking statements included in this news release, the Company has applied several material assumptions, including, but not limited to, the assumption that the Company will be able to raise additional capital as necessary, that the proposed exploration and development will proceed as planned, and that market fundamentals will result in sustained silver, gold, lead and zinc demand and prices. There can be no assurance that forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
Contact Information: