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Alexco Resource Receives Core Drilling Results from Flame + Moth Property, Yukon

Alexco Resource Corp. (TSX:AXR)(NYSE Amex:AXU) has announced results from 2010 core drilling at its Flame & Moth property, within the Keno Hill Silver District in Canada's Yukon Territory.

This new discovery is a "blind" discovery, the result of a district-wide structural geology study, and is located at depth adjacent to the recently constructed Keno District mill. To date, 13 holes have intersected the northeast-trending Flame & Moth structure over a strike length of approximately 400 meters centered on the current mill site and down dip 300 meters below surface.

Highlights

Complete assay results have been received for all 13 holes drilled that reached target depth near the Flame & Moth prospect, located in the central part of the Keno Hill district. Results include the following:

  • DDH K10-320 cut an interval grading: 1,712 grams per tonne silver (49.9 ounces per ton), 1.500 grams per tonne gold, 8.0% lead, 9.8% zinc over 4.26 meters from 219.76 to 224.02 meters.
  • DDH K10-285 cut an interval grading: 1,336 grams per tonne silver (39.0 ounces per ton), 0.141 grams per tonne gold, 15.7% lead, 1.7% zinc over 1.13 meters from 199.47 to 200.60 meters.
  • DDH K10-264 cut an interval grading: 693 grams per tonne silver (20.2 ounces per ton), 0.390 grams per tonne gold, 2.2% lead, 3.8% zinc over 4.64 meters from 250.35 to 254.99 meters.
  • DDH K10-299 cut an interval grading: 542 grams per tonne silver (15.8 ounces per ton), 0.201 grams per tonne gold, 2.4% lead, 6.1% zinc over 2.47 meters from 237.66 to 240.13 meters.
  • DDH K10-305 cut an interval grading: 523 grams per tonne silver (15.2 ounces per ton), 0.193 grams per tonne gold, 0.2% lead, 0.7% zinc over 1.94 meters from 326.21 to 328.15 meters.
  • DDH K10-271 cut an interval grading: 722 grams per tonne silver (21.1 ounces per ton), 0.130 grams per tonne gold, 0.8% lead, 2.0% zinc over 0.72 meters from 323.60 to 324.32 meters.

Based on these encouraging results, the Flame & Moth area, along with the Bermingham area on Galena Hill (see news release dated January 24, 2011 entitled "Alexco Identifies New 6.4 to 8.9 Meter Wide Silver Mineralized Zone at Bermingham, Keno Hill, Yukon"), is considered a primary exploration target for Alexco at Keno Hill in 2011.

2010 Flame & Moth Geology and Results

The Flame & Moth structural zone was recognized as a potentially significant feature in late 2009 as part of Alexco's ongoing, district-wide structural geology study, when regional mapping defined it as a major through-going fault zone displaying significant lithologic offset. Even though the Flame & Moth area has seen minimal historical silver production (1,590 tons grading 18.3 ounces per ton silver, 1.1% lead and 0.9% zinc) and limited exploration, this category of mineral-bearing structure is considered the most favorable for hosting significant resources, similar to the Hector Calumet structural zone located on Galena Hill. As a result, the area was selected for drilling in 2010. As indicated by the Alexco drilling, the Flame & Moth structural zone typically exceeds 10 meters in width and locally contains significant sulfide mineralization including galena, sphalerite, arsenopyrite and massive pyrite. High-grade silver values occur either associated with galena, similar to other occurrences and mines in the district, or across entire structural widths regardless of sulfide mineralogy, as observed in drill hole K10-0320. Drilling occurred over a 400 meter strike length along the Flame & Moth structure to depths up to 300 meters below surface. Mineralization remains open in both directions along strike and down dip as well as up dip to the southwest. This newly discovered, largely unexplored area is considered a priority target for Alexco in 2011.

Source: Alexco Resource Corp.

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