Ended up only 8.5%. Looks like Alexco received permits for two new mines and this coupled with yesterdays news below was responsible for the big increase.

"Alexco Expands Flame & Moth Indicated Resource to 22.9 Million Ounces of Silver; Resource Grade Increased, Deposit Remains Open"

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan 31, 2013) -Alexco Resource Corp. (AXR.TO)(NYSE MKT:AXU)today released a new, updated mineral resource estimate for the Flame & Moth discovery within the Keno Hill Silver District in Canada''s Yukon Territory, substantially increasing its previously estimated indicated silver resource. Since publishing the initial resource estimate (see news release dated June 28, 2012 entitled "Alexco Announces Initial Resource Estimates for Flame & Moth and Bermingham"), Alexco has drilled 8,752 meters in 43 holes to expand the Flame & Moth indicated silver resource from 11.1 million ounces to 22.9 million ounces, while increasing the indicated resource grade 14% to 516 grams per tonne (gpt), or 16.6 ounces per ton (opt) silver.

The updated resource estimate is summarized as follows:

Notes:

1. The effective date of these mineral resource estimates is January 30, 2013.
2. Mineral resources are not mineral reserves and do not have demonstrated economic viability. All numbers have been rounded to reflect the relative accuracy of the estimates.
3. Reported at a contained metal value cut-off grade of CAD $185.00/t (0.96 USD = 1 CAD) using consensus long term metal prices and recoveries developed for the nearby Bellekeno deposit (silver US$24.00/oz, recovery 96%; lead US$0.85/lb, recovery 97%; zinc US$0.95/lb, recovery 88%; gold US$1,400/oz, recovery 72%).
4. Silver grades capped at 3,000 gpt; lead capped at 15%; zinc capped at 20%; gold grades not capped.

The updated resource estimate now incorporates a total of 21,245 meters of drilling that has been completed since 2010, and provides an 82% increase in indicated tonnes to approximately 1.4 million and a 14% increase in indicated resource grade over that of the initial Flame & Moth estimated resource.

Alexco President and Chief Executive Officer Clynt Nauman said, "At nearly 22.9 million ounces of indicated silver resource, the Flame & Moth deposit silver inventory is more than twice as large as the original pre-mining 11.0 million ounce Bellekeno Mine indicated silver resource, which is now in its third year of production. Looked at on the basis of a 500 gpt silver cut-off grade, the Flame & Moth deposit contains more than 500,000 tonnes of 861 gpt silver and 0.6 gpt gold accompanied by more than 9% combined lead and zinc. The thickness of mineralization, the continuity of the deposit, its robust grade and the fact that this deposit comes to surface under approximately 20 meters of gravels opens up a number of potential development options for this important discovery. Furthermore, the deposit remains open down dip and down plunge to the south. As a result of this success, we are initiating engineering and baseline studies on the Flame & Moth deposit. In the meantime, we are forging ahead with our plans to commence production from our second and third mines, Onek and Lucky Queen, where we recently received a Quartz Mining License and anticipate award of a Water License in the near future."
The tables below show the resource estimate sensitivity to varying contained metal value cut-off values and a silver grade cut-off criteria:

Flame & Moth Deposit Geology, 2013 Proposed Work Program

The Flame & Moth resource model comprises the north-northeast striking, moderately southeast dipping Flame Vein that is divided into two segments by the northwest striking Mill Fault. The structure hosting the Flame Vein mineralization is characterized by broad structural zones, ranging between 2 meters and 33 meters in true thickness. The mineralization comprises multiphase quartz and siderite veining up to 11.7 meters true width developed within the host fault structure, and locally contains massive galena, sphalerite, pyrite, and pyrrhotite with associated silver sulphosalts, arsenopyrite and chalcopyrite. Gold is locally present at grades up to 6.85 grams per tonne. The existing deposit has a surface trace of approximately 600 meters and has been drilled to a depth of 350 meters from surface.

The Flame & Moth resource was estimated using Isatis block modeling software in multiple passes in 5 by 5 by 3 meter blocks utilizing inverse distance squared. Grade estimates were based on capped one meter composited assay data. Capping levels were set to 3,000 gpt for silver while lead and zinc were capped at 15% and 20% respectively, for both portions of the Flame Vein. Gold values were not capped. Blocks were classified as indicated mineral resources if at least two drill holes and six composites were found within a 60 by 60 meter search ellipse. All other interpolated blocks were classified as inferred mineral resources.

In 2013, Alexco plans to initiate baseline geotechnical, metallurgical and environmental work as well as preliminary engineering on the Flame & Moth deposit. This work is expected to include studies of future potential production options in context with existing mines and other opportunities in the District.

The Flame & Moth deposit remains open to the south and east, and also westerly up-dip toward surface at the northern extent of existing drilling. Continued exploration drilling is planned in 2013, targeting further expansion of the deposit as well as following up a newly discovered mineralized vein located more than 600 meters to the southwest along a similar structural trend.

Notes

The Flame & Moth resource estimate update has been complete by David Farrow, P.Geo (BC) of GeoStrat Consulting Services Inc., a Qualified Person as defined by National Instrument 43-101 -Standards of Disclosure for Mineral Projects("NI 43-101") and independent of Alexco for purposes of NI 43-101, based upon data that was reviewed, verified and compiled by Alexco''s geologic staff under the supervision of Alan McOnie, Vice President, Exploration for Alexco and also a Qualified Person as defined by NI 43-101. The mineral resource is classified following the CIM Definition Standards for Mineral Resources and Mineral Reserves (December 2005), in accordance with the CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines and with NI 43-101 guidelines. An NI 43-101 compliant technical report is in the process of being prepared in support of the Flame & Moth mineral resource estimate, which Alexco expects will be filed on SEDAR no later than 45 days from the date hereof.

The disclosure of scientific and technical information about Alexco''s mineral projects contained in this news release has also been reviewed and approved by Mr. Farrow and Mr. McOnie.