Highlights of the Bermingham Deep drilling includes 8.15m grading 1,414 grams per tonne silver including two discrete veins.

The 2019 programme was designed to follow-up prior drill results indicating potential for deeper mineralisation at Bermingham to test for mineralisation in a deeper stratigraphic zone, which also hosts the adjacent historical Hector Calumet deposit.  Five holes were completed for 3,708m to test the Bermingham and Bermingham Footwall veins.

"The confirmation of high-grade silver mineralisation at relatively deep levels below our existing Bermingham deposit … confirms our view that the Bermingham deposit, which currently contains more than 40 million ounces of silver in all categories may be much larger, and certainly well within the upper quartile of historical or contemporary discoveries/deposits in the Keno Hill Silver District," said chairman and CEO Clynt Nauman.

The success of the deep drilling programme will now drive a larger follow-up drilling programme.

Shares in Alexco Resource (TSX:AXU) are trading at C$2.89, valuing the company at $337 million.