Alexco Updates Progress on Bellekeno Mine and Mill Commissioning
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/19/10 -- Alexco Resource Corp. (TSX: AXR)(NYSE Amex: AXU) ('Alexco' or the 'Company') is pleased to report on the progress of mill commissioning at the Bellekeno mine. The concentrator is now running at design capacity and has produced silver/lead and zinc concentrates. By design, the initial commissioning has used low grade material to identify normal deficiencies and bottlenecks which have been systematically addressed. The current focus of mill operations is to optimize lead/silver/zinc recovery and to increase efficiency of the milling equipment and process flowsheet, and the grade of the ore being processed from the Bellekeno mine is now being progressively increased. Updated photographs of the mill in operation are available on Alexco's website.
'It is notable that from the initiation of Bellekeno's mine development and mill construction, production has been achieved in less than a year. This success is a testament to the skill and dedication of Alexco's people and partners,' commented Clynton Nauman, President and Chief Executive Officer of Alexco.
Keno Hill Silver District History
Between 1921 and 1988, the Keno Hill Silver District produced more than 217 million ounces of silver with average grades of 40.5 ounces per ton silver, 5.6% lead and 3.1% zinc (Yukon Government's Minfile database). The historical production grades would rank Keno Hill in the top 3% by grade of today's global silver producers. The Keno Hill district is the second-largest historical silver producer in Canada.
About Alexco
Alexco's business is to unlock value and manage risk at mature, closed or abandoned mine sites through integration and implementation of the Company's core competencies which include management of environmental services, execution of mine reclamation and closure operations and if appropriate, rejuvenation of exploration and development of new mining opportunities.
The scientific and technical information about the Bellekeno project on which this news release has been based was prepared by Mr. Thomas Fudge, P.E., Vice President Development and Engineering for Alexco and a Qualified Person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Some 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 press release. Forward-looking statements may include, but are not limited to, statements with respect to 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, the timing of activities and 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. 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 of remediation and reclamation activities; actual results of exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; future prices of gold, silver and other commodities; possible variations in ore bodies, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and delays in obtaining governmental approvals or financing or in the completion of development activities.
Contacts:
Alexco Resource Corp.
Clynton R. Nauman
Chief Executive Officer
604-633-4888
604-633-4887 (FAX)
info@alexcoresource.com
www.alexcoresource.com