Summary of Resources
The following table sets forth the estimated resources for Alexco’s mineral properties within the Keno Hill Silver District:
|Category 1,2,8||Property||Tonnes (t)||Ag (g/t)||Au (g/t)||Pb (%)||Zn (%)||Contained Ag (oz)|
|Lucky Queen Deposit3&5||132,300||1,167||0.2||2.4%||1.6%||4,964,000|
|Flame & Moth Deposit3&5||1,679,000||498||0.4||1.9%||5.3%||26,883,000|
|Total Indicated - Sub-Surface||3,631,500||500||0.3||2.0%||5.6%||58,398,000|
|Total Indicated - All Deposits||6,121,500||345||0.3||1.6%||3.6%||67,925,000|
|Lucky Queen Deposit3&5||257,900||473||0.1||1.0%||0.8%||3,922,000|
|Flame & Moth Deposit3&5||365,200||356||0.3||0.5%||4.3%||4,180,000|
|Historical Resources||Silver King7|
|- Proven, probable and indicated||99,000||1,354||n/a||1.6%||0.1%||4,310,000|
- All mineral resources are classified following the CIM Definition Standards for Mineral Resources and Mineral Reserves (May 2014), in accordance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and the guidelines of NI 43-101.
- Mineral resources are not mineral reserves and do not have demonstrated economic viability. All numbers have been rounded to reflect the relative accuracy of the estimates.
- The Keno Hill Silver District is comprised of five deposits: Bellekeno, Lucky Queen and Flame & Moth, Onek and Bermingham, of which Bellekeno, Lucky Queen, Flame & Moth and Bermingham are incorporated into the current mine plan outlined in the technical report filed on SEDAR dated March 29, 2017 entitled “Preliminary Economic Assessment of the Keno Hill Silver District Project, Yukon, Canada”. The mineral resource estimates for the project are supported by disclosure in the news release dated March 29, 2017 entitled “Alexco and Silver Wheaton Amend Silver Purchase Agreement and Alexco Announces Positive Preliminary Economic Assessment for Expanded Silver Production at Keno Hill”.
- The resource estimates for the Bellekeno deposit are based on a geologic resource estimate having an effective date of September 30, 2012. The Bellekeno indicated mineral resources are as at September 30, 2013, and reflect the geologic resource less estimated subsequent depletion from mine production.
- The resource estimates for the Lucky Queen, Flame & Moth, Onek and Bermingham deposits have an effective date of January 3, 2017.
- The resource estimate for the Elsa Tailings has an effective date of April 22, 2010, and is supported by the technical report dated June 16, 2010 entitled “Mineral Resource Estimation, Elsa Tailings Project, Yukon, Canada”.
- Historical resources for Silver King are supported by disclosure in the news release dated March 29, 2017 entitled “Alexco and Silver Wheaton Amend Silver Purchase Agreement and Alexco Announces Positive Preliminary Economic Assessment for Expanded Silver Production at Keno Hill”.
- The disclosure regarding the summary of estimated resources for Alexco’s mineral properties within the Keno Hill District has been reviewed and approved by Scott Smith, P.Eng., former Bellekeno Mine Manager and a Qualified Person as defined by NI 43-101.