Alexco Resource Corp. Sept. 7 reported that its 2021 program continues to expand upon the extremely high-grade silver mineralization in the Bermingham Northeast Deep zone on its Keno Hill project in the Yukon.

Discovered in 2018, Northeast Deep lies about 150 meters below the Northeast zone at Bermingham, a deposit that hosts 630,173 metric tons of probable reserves averaging 899 grams per metric ton (18.21 million ounces) silver.

One hole drilled at Northeast Deep in 2019 cut 8.15 meters averaging 1,414 g/t (45.5 oz/t) silver, and Alexco's 2020 program expanded this exciting target along a favorable corridor to the southwest and northeast.

The best intercept of the 2020 drilling came in K-20-0769, which cut the deeper Bermingham footwall vein over a true width of 8.76 meters averaging 3,583 g/t (115.2 oz/t) silver from a depth of 507.2 meters.

Other highlights from the 2020 Northeast Deep drilling include:

• 6.12 meters averaging 1,560 g/t (50.16 oz/t) silver from a depth of 536.8 meters in hole K-20-0761.

• 7.46 meters averaging 1,381 g/t (44.40 oz/t) silver from a depth of 563.7 meters in hole K-20-0770.

• 5.3 meters averaging 2,070 g/t (66.55 oz/t) silver from a depth of 499.3 meters in hole K-20-0773.

This year, Alexco is carrying out 19,000 meters of directional drilling focused on establishing a robust resource for Northeast Deep before the end of the year. So far, crews have completed about 80% of this drilling.

Highlights from Northeast Deep intercepts in the first 24 holes include:

• 4.43 meters averaging 2,901 g/t (93.27 oz/t) silver from a depth of 468.3 meters in hole K-21-0785.

• 4.42 meters averaging 1,384 g/t (44.51 oz/t) silver from a depth of 181.03 meters in hole K-21-0785A.

• 4.64 meters averaging 1,212 g/t (38.96 oz/t) silver from a depth of 461.93 meters in hole K-21-0790.

• 8.74 meters averaging 2,284 g/t (73.24 oz/t) silver from a depth of 523.63 meters in hole K-21-0786.

• 3.91 meters averaging 1,301 g/t (41.84 oz/t) silver from a depth of 502.7 meters in hole K-21-0791.

Some of the holes also encountered the Bermingham Main vein. This includes 4.73 meters averaging 2,010 g/t (64.64 oz/t) silver from a depth of 511.91 meters in hole K-21-0786, and 4.73 meters averaging 2,567 g/t (82.54 oz/t) from 126.23 meters in K-21-0790A.

"We are very encouraged by the initial results from the Bermingham Northeast Deep drilling, confirming the importance of this discovery both from an exploration and potentially, from an operations perspective," said Alexco Resource Chairman and CEO Clynt Nauman. "This zone of mineralization is shaping up to be within 200 meters of our currently planned underground ramp and haulage infrastructure."

Upon completion of an updated Bermingham resource estimate that includes the 2021 drilling, the company plans to expand the mineral reserves to include Northeast Deep.

While drills are targeting Bermingham expansion targets, Alexco reports that underground mine development and the ramp-up of the mill are on schedule. As a result, the company expects the mill to reach its 400-metric-ton-per-day nameplate capacity before the end of the year.

Alexco Resource Corp.

Through the end of August, 13,468 metric tons of ore averaging 842 g/t silver and 11.7% lead has been extracted from the Bellekeno mine this year. Mining will transition to the newly developed Bermingham and Flame & Moth mines later this month.

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