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May 12, 2022 ‑ Alexco Resource Corp. (NYSE American/TSX: AXU) (“Alexco” or the “Company”) today reports financial results for the quarter ended March 31, 2022 (“Q1 2022”). The Company also provides an update on capital development projects, scale-up of mining operations, and exploration activities at Keno Hill.
Key Performance Metrics
“We have seen improvements and better results recently with our underground activities at Keno Hill,” said Clynt Nauman, Chairman and CEO of Alexco, “but with that said, we remain below where we need to be for development rates, equipment availability, and ore extraction rates. In terms of providing a formal outlook for the balance of 2022, the Keno Hill operation needs an additional period of time to confirm improvement in supply chain efficiencies and mechanical availability of underground equipment, which is the primary driver for accelerated ramp up progress. The Company is evaluating a number of production and operating scenarios keying off supply line risk and availability of maintenance technicians as the basis for forecasting underground development rates with the objective of providing further clarity and confidence on reaching our targeted 400 tonnes per day mill throughput. Therefore, while the Company had previously anticipated providing formal guidance for the balance of 2022, we are deferring such guidance until such time when we can confidently guide the market. I am hopeful that with another several weeks of performance under our belts, we will be in a much better position to update the market.”
Conference Call for Q1 2022 Results
Alexco management will discuss the results during an audio webcast conference call on Friday, May 13, 2022 at 1:00 pm Eastern Time (10:00 am Pacific Time).
To participate in the live call, please use one of the following methods:
|Dial toll free from Canada or the US:||1-800-319-4610|
|Dial from outside Canada or the US:||1-604-638-5340|
|Confirmation Code#:||Ask to join the Alexco conference call|
|Live audio webcast:||https://services.choruscall.ca/links/alexco20220513.html|
Participants should connect five to ten minutes before the call. The conference call will be recorded, and an archived audio webcast will be available at www.alexcoresource.com shortly after the call.
The disclosure in this news release of scientific and technical information regarding exploration projects on Alexco’s mineral properties has been reviewed and approved by Alan McOnie, FAusIMM, while that regarding mine development and operations has been reviewed and approved by Sebastien D. Tolgyesi, P.Eng., P.Geo., Keno Hill Operations Manager, both of whom are Qualified Persons as defined by National Instrument 43-101 –Standards of Disclosure for Mineral Projects.
Alexco is a Canadian primary silver company that owns and operates the majority of the historic Keno Hill Silver District, in Canada’s Yukon Territory, one of the highest-grade silver mines in the world. Alexco started concentrate production and shipments in 2021 and is currently advancing Keno Hill toward steady state production. Upon reaching commercial production, Keno Hill is expected to produce an average of approximately 4.4 million ounces of silver per year contained in high quality lead/silver and zinc concentrates. Keno Hill retains significant potential to grow and Alexco has a long history of expanding the operation’s mineral resources through successful exploration.
Clynton R. Nauman, Chairman and Chief Executive Officer
Rajni Bala, Investor Relations and Communications Lead
Phone: (778) 945-6577
Email: [email protected]
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