AXU got the quartz license!
Yukon Issues Quartz Mining Licence for Alexco's Bellekeno Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwire - 11/18/09) - Alexco Resource Corp. (TSX:AXR - News) (AMEX:AXU - News) ("Alexco" or the "Company") is pleased to report that the Government of Yukon has issued a Quartz Mining Licence for the Bellekeno mine, being the primary permit authorizing Alexco to immediately commence mine development and mill construction at the site, located within the Keno Hill Silver District, Yukon.
The issuance of mining licence QML-0009 follows the announcement last week of the completion of a positive Development Plan for the Bellekeno mine and the authorization by Alexco's Board of Directors of the initiation of construction activity (see news release dated November 11, 2009 entitled "Alexco Completes Positive Bellekeno Mine Development Plan, Silver Wheaton Concurs - Initiation of Construction Approved"). Alexco is now in the process of negotiating key engineering and procurement contracts for mine construction and operation and has begun placing orders for mine plant and equipment.
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.
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