Replies to post #11 on Alexco Resource Corp (AXU)

[orion1]

From the Yahoo Board. Excellent summary:

The mill has been processing 12000 tonnes so far (average 196t/d, and is expected to process 20,000 tonnes before April 1st (around 280t/d).

That means 280t/d in March which will keep on being increased to create a MINIMUM of 2,800,0000 ounces for 2011. (my estimation is that we'll see more than 3,100,000)

Alexco again conservative promising and incredible results, it's pretty obvious that they will keep going at 300t/d rather than 250t/d.
that mean closer to 3,400,000 ounces of silver (and a hell of a lot Pb/Zn)

Concerning the resource estimation - we will get an estimation of Onek and Lucky Queen estimated somewhere in may-June - after an additional 3,000 meters of advanced definition drilling which begins now in early march at the two mines. They also mentioned that they will "underground rehabilitation and development work at the historical Lucky Queen mine, in advance of approximately 2,500 meters of underground definition drilling; and a review of underground ore definition and mining options at the historical Silver King mine" A decision will be taken later in the second half of the year where they will set up mine 3 (Onek is already mine 2, adding resources to the Bellekeno production.)

Be prepared for some sick numbers from Lucky queen, concerning the resource estimation. this is just one drill result back from 2007: Most notably, within the 1.12 meter galena and silver sulfosalt mineralized zone, of native silver dominated mineralization returned 35.6 kilograms per tonne silver (1,039.0 ounces per ton Ag), 6.95% Pb, and 0.58% Zn or 1,048.0 ounces per ton silver equivalent.

Concerning onek a 11 meter 40,6 ounce vein has been found, along with many other interesting intercepts. What do I expect from Lucky queen and Onek somewhere between 18 -30 million ounces in probable resources.

It's going to be an interesting quarter 2 and as the CEO said they are targeting 5,100,000 ounces for 2012 and 7,100,000 ounces for 2012 - talk about explosive growth for Canada's only primary silver miner.

Even though we have a treasury of almost 50 million CAD I don't expect it to drop since we will still be profitable even though management is aggressively expanding the drilling this year with a drill plan of 15-20 million USD.