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weaver hillbille

Pulling one arm bandit vs rolling the dice on AXU

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 YOur choice,  both risky, but one doesn't require the drive or exercise:4chsmu1:

 Yes, I own some  of the stock.

up 600% YTD- Keno HIll  Ag District

"

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 13, 2016) - Alexco Resource Corp. (AXR.TO)(NYSE MKT:AXU) ("Alexco" or the "Company") today announced interim results from an ongoing diamond drill program in the Bermingham deposit area of the Keno Hill Silver District in Canada's Yukon Territory.

Initial assay results have been received from 18 of 36 holes completed to date. Drilling has confirmed and expanded the Bermingham high grade zone (the "Bear Zone"), including a recent intercept of 7.5 meters ("m") true width of 2,715 grams per tonne ("g/t") (87.3 ounces per tonne ("oz/t")) silver (including 2.4m (true width) of 6,391 g/t (205.5 oz/t) silver) from hole K-16-0608 drilled approximately 100m down plunge from the deepest intercept reported in 2015. Overall, all other composite intercepts in the high grade Bear Zone now range between 504 g/t to 7,462 g/t silver over composited true thicknesses ranging from 1.3m to 6.4m.

Together with the high grade intercepts from 2014 and 2015, the 2016 drilling has so far extended the high grade silver-bearing Bear Zone over at least 250m of plunge length and a plunge width of approximately 40m. The zone averages approximately 4.0m true width, is locally more than 7.0m thick, and remains open to depth and northeasterly along strike of the productive structure(s).

Alexco Chief Executive Officer Clynt Nauman commented, "Early results from the 2016 exploration program underscore the materiality and importance of this discovery to the future of Keno Hill. Grades from initial 2016 drill holes are impressive, ranging from 0.5 kilogram to more than 6.0 kilograms per tonne silver over sizeable true widths. The style, tenor and continuity of the mineralization, plus the continuing thickness of the high grade zone as we drill deeper (but still less than 400 meters from surface) are most encouraging. In addition, the emerging vein geometry, including the discovery of mineralized parallel (east dipping) and conjugate (west dipping) veins, reflects a structural and mineralization pattern similar to the largest deposits in the district, including the immediately adjacent historical Hector-Calumet deposit. We are very interested to see how the Bear Zone develops as we chase it to depth and along trend of the various mineralized structures that are now being recognized."

Bermingham Drill Composite Assay Interval Highlights (Refer to Table 2 for complete results)

  • K-16-0608: intercepted two veins:

the Bear Vein over a true width of 7.49m from 388.87m with a composite assay of 2,715 g/t (87.3 oz/t), including a 2.39m true width from 391.05m at 6,391 g/t (205.5 oz/t) silver that includes within it 0.87m true width from 391.05m at 7,739 g/t (248.8 oz/t) silver and 0.97m true width from 394.41m at 8,584 g/t (276.0 oz/t) silver, and the Bermingham Vein over 1.00m true width from 363.57m with a composite assay of 1,243 g/t (40.0 oz/t) silver, including 0.21m true width from 363.57m at 5,790 g/t (186.2 oz/t) silver.

  • K-16-0605 : intercepted the Bear Vein over a true width of 3.98m from 276.70m with a composite assay of 2,524 g/t (81.2 oz/t), including 0.08m true width from 277.90m at 24,401 g/t (784.5 oz/t) silver; 0.48m true width from 282.68m at 8,310 g/t (267.2 oz/t) silver, and 0.31m true width from 285.18m at 12,597 g/t (405.0 oz/t) silver. 
     
  • K-16-0602 : intercepted the Bear Vein over a true width of 2.93m from 276.65m with a composite assay of 3,265 g/t (105.0 oz/t), including 0.87m true width from 278.62m at 10,897 g/t (350.3 oz/t) silver. 
     
  • K-16-0584 : intercepted two veins: 

the Bear Vein over a true width of 4.95m from 317.00m with a composite assay of 1,574 g/t (50.6 oz/t), including 1.20m true width from 322.30m at 5,311 g/t (170.8 oz/t) silver, and theBermingham Vein over 2.02 m true width from 300.20m with a composite assay of 935 g/t (30.1 oz/t) silver, including 0.83m true width from 300.20m at 2,121 g/t (68.2 oz/t) silver.

  • K-16-0599 : intercepted the Bear Vein over a true width of 1.32m from 413.10m with a composite assay of 2,814 g/t (95.0 oz/t) silver. 
     
  • K-15-0587 : intercepted a newly recognized west dipping vein set over a true width of 3.52m from 286.25m with a composite assay of 1,171 g/t (37.7 oz/t) silver, including 1.93m true width from 286.25m at 2,008 g/t (64.6 oz/t) silver. 

The 2016 follow up Bermingham drill program has been expanded from an initial 8,000 meter program to approximately 15,500 meters totaling approximately 45 holes, of which 36 have been completed. Two adjacent zones (the Etta and the Arctic Zones) in the Bermingham area have a current silver resource estimate (not including the Bear Zone) of 5.2 million ounces indicated (377,000 tonnes with average grade of 430 g/t) (see news release dated April 29, 2015, entitled "Alexco Announces Indicated Silver Resource Estimate Increases of 17% at Flame & Moth and 37% at Bermingham, Resulting in a 10% Increase Overall for Keno Hill Silver District"). The historical Bermingham deposit is located on Galena Hill approximately one kilometer southwest of the historical Hector-Calumet mine, and approximately five kilometers east of the Flame & Moth deposit and Keno District Mill. The Hector-Calumet's historical production was 96 million ounces of silver at a reported average grade of approximately 1,214 g/t (39 oz/t)."

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 Be advised, I've no crystal ball( really) and  don't know how  AXU's cost of production compares to Hecla or many of the UUUUge:4chsmu1: Ag plays in S. AMerica/Mexico... Gamble at your own risk... Due to averaging, my break even is well over 5$:tisk-tisk:.. I drank the koolaid long before AXU crashed- hard.

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Ages old wisdom I have read 100s of times--a hardrock mine is a hole in the ground with a liar at the top...exercise EXTREME caution. On placer ops I've lost $$$ 2 times in 45 years but hard rock 98% of the time....Jus' sayn'-John

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  :cry2: I sincerely have no doubt about that, JOhn.

     I have to delete Redlake mining district from my  tag line(( another high flying pennystock hopeful  that crashed,Rubicon Minerals-RBY-, evaporated)).  Maybe  a new owner  can make sense of it/manage it better.  GoldCOrp is in the same district /makes money, but they have an open pit operation.

Bryan

Edited by weaver hillbille

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Shoot -- I'd just added to the Gold King EPA screwup thread about Alexco since it got brought back to the top, when it really belongs here.. I'll leave it there, not that important.. However, the re-read brought to my attention I mis-understood / misinterpreted something you'd said over there until it got coupled with something you said here:

I thought you sold when Alexco began sliding backwards from $8+.. It wasn't until I saw your averaging statement, again, just now, that it dawned on me you rode it all the way down..

They're a solid company.. You'll eventually get back to and surpass ROI (my belief at least..) I am curious about one thing though: Since I have to believe you feel that way too about them, did you buy while they were bottoming out..?

Swamp

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