Resource World Magazine

20 www.resourceworld.com o c t o b e r / n o v e m b e r 2 0 1 5 Keno Hill. Clynton R. Nauman, President and CEO of Alexco, said they are pretty close to concluding a water permit for the new, larger Flame & Moth deposit. With three mines fully permitted and another underway Alexco is working on increas- ing silver resources. Currently Alexco has identified a resource in the District of +55 million silver oz indicated and +12 million silver oz inferred. The company has just completed the season's drill program at Bermingham which could potentially add additional resources. The company plans to conclude per- mitting for the Flame & Moth deposit and to optimize plans for development and production at Flame & Moth, Bellekeno and Lucky Queen, with a development decision to follow at the optimum time. Alexco has a silver streaming agreement with Silver Wheaton, allowing them to buy 25% of Alexco's silver production. Alexco's subsidiary business, Alexco Environmental Group, had 2104 revenue of $14.9 million with a $100 million work backlog including Keno closure, and this growing environmental business gives the mining side of the company some flex- ibility in choosing the right timing for development of the Flame & Moth deposit. Wellgreen Platinum Ltd.'s [WG-TSX; WGPLF-OTCQX] property, just of the Alaska Highway in southwest Yukon, was discovered in the 1950s when the highway was being built. The high-grade, under- ground mine produced during the 70s. Wellgreen is advancing its 100% owned Wellgreen PGM and nickel proj- ect towards production. The project has a measured & indicated resource of 5.5 mil- lion oz PGM +Au and 2.9 billion lbs of Ni +Cu. A February 2015 PEA describes an open pit operation of 25,000 tpd (ramp- ing up to 50,000 for years 6-16) producing concentrate using conventional flotation methods. Capex is $586 million (including $100 million contingency). The company continues to explore drilling from surface to access lower pit resources. Greg Johnson, CEO, says it will take 25 years to mine down through the outlined resources. PEA base case mine life is 25 years which includes running of stockpiles. Grade gets better at lower lev- els. A third expansion of the pit design is possible. Metallurgy was a big focus of the PEA which added a magnetic separation process to the flotation process which increased platinum recovery by 10%. Kaminak Gold Corp. [KAM-TSXV] has finished all the field work required for their feasibility study on the Coffee gold project, 130 km south of Dawson City; the study is expected to be completed in Q1 2016. Latte, a 2 km long deposit, is the key driver in the initial PEA mining econom- ics given its low strip ratio of 2:1. The company is spending $30 million at Coffee this year where nine drills were turning at the peak of activity. The study will include a change to the heap leach design and potentially a new access road route from Dawson City. Since 2010, the project has seen 250,000 metres of drilling and +4 million oz of gold have been outlined. Eira Thomas, President & CEO, said the deposit isn't typical of the Yukon; it's a hydrothermal type deposit with highly oxidized ore, good for heap leaching. "It will be one of the highest grade, open pit, heap leach, operations in the world," said Thomas. Heap leaching in the north isn't new; Fort Knox is an active heap leach mine and the Brewery Creek Mine was a heap leach operation. Thomas said she expects to have the mine fully permitted by 2018 with the first gold to be poured in 2019. August 13, Kaminak reported infill drill results from Coffee; highlights included: 4.0 g/t gold over 27m, 6.2 g/t gold over 16.8m, 10.5 g/t gold over 9.1m, 18.6 g/t gold over 5.0m and 2.8 g/t golf over 32.0m. Rockhaven Resources Ltd.'s [RK-TSXV] Matt Turner, CEO, said the Klaza Project, in the Dawson Range Gold Belt of south-

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