Tuesday, December 20, 2016

Alexco - some BS drilling

Wow, Alexco, some amazing results from Bermingham (link)

  • 11.1m @ 6,477 g/t Ag
  • 16.95m @ 4,375 g/t Ag
  • 24.98m @ 835 g/t Ag
Those results should give you some nice reading to help to the silver bugs to battle the purple-headed yogurt slinger, or date Rosie Palm and her five sisters.

Hey, wait a sec, those intercepts are a bit wide for a district well-known for narrow vein silver mineralization. Lets look at the true widths.
  • 11.1m 3.98m @ 6,477 g/t Ag
  • 16.95m 7.16m @ 4,375 g/t Ag
  • 24.98m 6.89m @ 835 g/t Ag
Darn, that's a bit of a diet, what the heck has happened here? I mean, there have been 1 or 2 holes (OK, 176) drilled into Bermingham. To the 3-D machine (link)!
Red spots = DH data from the Dec 06 release, black = early drilling
Let us filter out the old crap and just look at the new data, We can see that most the holes go from left to right (direction), but why are those in the middle doing int the opposite direction, parallel to the veins? Seasonal variation?

green lines = hole traces, grey solids = modeled veins.
It is a bit easier to see on some sections

No BS drill-holes (red = Bermingham veins, cyan = Bear vein, Blue = Aho vein)
See that the drill holes intersect the vein at an almost perpendicular (90 degrees) angle.

Here is a section with those 'special' holes

These very high grade holes have orientated to drilled straight down the middle of the Bermingham and bear veins. We can also see that adjacent holes, did hit some good grades, but are much narrower. 

Alexco have known since 2011 that the veins all dip to the southeast, so why were these holes (approx. 950m) in the opposite direction to all previous holes? 

I'm guessing that Alexco couldn't wait until April 1st to pull such a good wheeze on their share-holders or maybe it was a generous Christmas gift to give them a nice festive cheer with some obscenely high-grade intercepts that do absolutely nothing to the deposit, they don't increase the tonnage as they have just been drilled through areas that have already been drilled before.

This is BS, Alexco, why waste everyone's time and your money with these joke drill-holes?


  1. All right, we'll say it. These boyotards are playing 'hide the wienner' and have been doing so for ages. At current levels this paper is overdone. Spewing about 'leverage' ad nauseum whilst drilling for success indeed. Pfffftt.


  2. What say you now about Bermingham... 12 Million new OZ 17 million total with another 5mill oz sitting pretty open ended..

    1. Brilliant, I nice, high grade small deposit. They could use it to restart the mine as they could at 1000 tpd mine ~4Moz Ag a year, with some nice base metal and gold credits to add more value.

      I was surprised, I thought that the Bear zone could be a bit bigger, but a nice bit of work.

      I'll look at the technical report once it comes available as I'm a bit concerned that the capping on the Bear vein (11000 g/t) is very high and a few very high intercepts may be skewing the grade)

    2. I worked on a similar deposit in the US, we found that typical veins were 1Mt @ 750 g/t Ag with a couple of freaks (>100Moz Ag at the same grades), it will be interesting to see how the Bermingham veins stack up with the rest of the district.

  3. I have seen geologists reverse the azimuth because they felt that flexures/anticlines could hide important extensions of the mineralized domain. They were usually wrong in those instances although some deposits eg. Tahoe's Escobal may have benefited from that mode of thinking. In the present case they appear to be targeting a fold but in either case it would be irresponsible not to place the drill results in context.