Toronto Stock Exchange - EXN
TORONTO,
April 4, 2013 /CNW/ - Excellon
Resources Inc. (TSX: EXN) ("Excellon" or "the Company"),
Mexico's highest grade silver
producer, is pleased to report results from the recently-completed
fall and winter diamond drilling programs on the company's
Beschefer and DeSantis properties, both located in the prolific
Abitibi Greenstone Belt of Northeastern
Ontario and Northwestern
Quebec. The programs followed up on known
mineralization as well as investigating previously untested
geophysical anomalies and regional geological targets.
Highlights of the drilling programs include:
Beschefer Project
● Significant gold mineralization intersected within the B14
Shear Zone:
- 1.95 g/t Au over 17.85 metres ("m"), including 3.08 g/t
Au over 2.51 m in BE13-035;
- 55.60 g/t Au (uncut) over 5.57 m (13.64 g/t cut to 34
g/t) in BE13-038, 100 metres down dip from previously released
BE12-014, which intersected 13.07 g/t Au (uncut) over 8.75 metres
(8.87 g/t cut to 34 g/t);
- Assays pending from four follow-up holes.
DeSantis Project
● A new Au-mineralized zone hosted by hydrothermally-altered
mafic volcanics intersected 300 m into the footwall from
previously-known mineralization
- 0.51 g/t Au over 57.60 m, including 1.35 g/t Au over 6.15
m in DS11-016B;
- 2.16 g/t Au over 31.70 m, including 4.09 g/t Au over 7.20
m in DS11-016F;
- 2.68 g/t Au over 3.10 m in DS13-007;
- Assays pending from several holes.
John Sullivan,
Vice-President of Exploration stated, "Our 2013 Canadian
drilling programs validate the significant upside potential of both
of these projects. The Beschefer results have extended the known
B14 Zone mineralization and demonstrate the project's high-grade
gold potential. At DeSantis, we have discovered new gold
bearing alteration and stratigraphy immediately west of the heart
of the century-old Timmins Gold
camp. While Excellon's primary exploration focus remains on
growing our La Platosa manto resource in Mexico, our Canadian team will assess these
promising results over the coming months in preparation for future
exploration programs."
Beschefer Program
The Beschefer property is located in northwestern Quebec 12 km east of the past-producing
Selbaie mine and 80 km east-southeast of the recently commissioned
Detour Gold Mine. The 2013 program consisted of 16 diamond
drill holes totaling 6,668 m. The primary focus of this
drilling was to follow up on results from the B-14 Zone, an
intensely sheared and strongly sericite-, ankerite-,
hematite-altered and sulphide-bearing deformation zone, which
trends in a northeast-southwest direction across the
property. Hole BE13-038 intersected the best result ever
intersected on the project: 55.60 g/t Au (uncut) over 5.57 m
(13.64 g/t Au cut to 34 g/t), including 224.0 g/t Au over 1.23
m. This hole tested the B14 Zone approximately 100
meters down dip from BE12-014, which returned 13.07 g/t Au (uncut)
over 8.75 m (8.87 g/t cut to 34 g/t). BE13-035 tested the B-14 Zone
approximately 250 meters along strike to the southwest of BE13-038,
intersected the zone over a width of approximately 25 m and
returned assays of 1.95 g/t Au over 17.85 m, including 3.08
g/t Au over 2.51 m. Based on these encouraging
results additional holes BE13-042, 045, 046 and 047 were drilled as
direct follow-ups. Assays for these holes are pending.
Reported assays are found in the table below, along with a property
plan map and two vertical sections highlighting holes BE13-035 and
038 respectively.
In addition to BE13-035, 038, 042, 045, 046 and
047, 10 other holes were drilled during the program. The B14
Zone was the target of 14 of the 16 holes drilled and the zone was
encountered in all of them. The other two holes tested
geophysical targets and encountered no significant
mineralization. Assays have been received for eight of the
holes with no significant gold values being encountered in three of
them. Assays remain outstanding for the final eight holes.
DeSantis Program:
The DeSantis property is located 4.5 kilometres southwest of the
City of Timmins, Ontario in the
heart of the Timmins gold camp. The 2012/2013 diamond
drilling program consisted of 18 holes totalling 6,686 m and had
two objectives: first, to test the down-dip extension of the
Albitite Zone and, second, to explore untested geophysical and
geological targets elsewhere on the property.
The Albitite Zone drilling was initiated by
deepening DS11-016B, which was drilled in 2011. The zone
consists of a felsic intrusive that generally occurs within the
footwall portion of ultramafic flows at or near the contact with
mafic volcanics. Gold mineralization is associated with an
increase in brecciation and sulphide mineralization. Though
no significant mineralization or felsic intrusive was encountered
at the ultramafic/mafic contact, the hole was continued and
encountered a significant new hydrothermal alteration system
approximately 300 m into the footwall below the contact at
approximately 1,050 m vertical depth. The hydrothermal system
consists of variably developed ankerite, sericite, albite
alteration with quartz-tourmaline veins and sulphides dominated by
pyrite. Sampling of this new zone returned assays of
0.51 g/t Au over 57.60 m, including 1.35 g/t Au over 6.15
m. To better understand the nature and extent of this
"16B Zone" two wedge holes were drilled. DS11-016D tested
the zone 80 meters above and 20 meters to the west of DS11-016B
while DS11-016F intersected the zone 30 meters to the east.
DS11-016D returned 0.73 g/t Au over 6.80 m, including 2.88 g/t Au
over 0.65 m, while DS11-016F assayed 2.16 g/t Au over 31.70
m, including 4.09 g/t Au over 7.20 m. These results
indicate that the 16B Zone increases in grade and alteration
intensity to the east. The zone is open in all directions
and, most importantly, the up-dip extension of the zone has seen
virtually no drilling between DS11-016 and surface.
Eight regional holes were drilled to test
geophysical targets and the strike extension of the historic
McEnaney veins located on the southeastern portion of the property,
which saw two campaigns of underground exploration between 1911 and
1923. Of these holes DS13-007 encountered a sequence of
hydrothermally-altered mafic volcanics located 450 m northwest of
the DeSantis # 2 shaft. The alteration consists of strong
sericite, ankerite, local tourmaline and quartz-ankerite veins with
gold associated with increased pyrite content. This zone is a
near-surface occurrence, being intersected immediately below the
overburden and extending for a down-hole length of approximately 70
m. The best assay from this zone was 2.68 g/t Au
over 3.10 m. In addition holes DS13-011 and DS13-012
intersected a sequence of well mineralized and altered, pyritic and
quartz-ankerite veined mafic volcanics that are interpreted to be
the easterly strike extension of the McEnaney veins. Assays
are pending for these two holes. Reported assays are found in
the table below as are a property plan map, a schematic
longitudinal section and a schematic vertical section depicting the
16B Zone as it relates to the historically known zones at
DeSantis.
In addition to DS11-016D, DS11-016F, DS13-007, DS13-011 and
DS13-012 there were 13 other holes drilled during the
program. While these holes did not encounter significant
mineralization, although some assays remain outstanding, they
provided valuable geological data that will be useful for planning
purposes going forward.
Table: Beschefer and DeSantis Assay Results
(intervals are core widths)
Location |
DDH # |
Interval
From (m) |
Interval
To (m) |
Interval
width (m) * |
Gold
(g/t) |
Comment
Where Appropriate |
Beschefer Project |
BE12-030 |
362.94 |
372.00 |
9.06 |
2.82 |
Hole deepened in 2013 |
|
includes |
362.94 |
369.00 |
6.06 |
3.56 |
|
|
BE13-034 |
120.30 |
120.60 |
0.30 |
5.25 |
|
|
and |
222.70 |
223.50 |
0.80 |
4.34 |
|
|
and |
283.40 |
284.10 |
0.70 |
11.00 |
|
|
and |
344.00 |
344.32 |
0.32 |
11.60 |
|
|
BE11-005 |
363.10 |
363.60 |
0.50 |
7.41 |
Hole deepened in 2013 |
|
BE13-035 |
318.35 |
336.20 |
17.85 |
1.95 |
|
|
includes |
318.35 |
320.86 |
2.51 |
3.08 |
|
|
and includes |
330.13 |
336.20 |
6.07 |
2.80 |
|
|
BE13-038 |
323.36 |
328.93 |
5.57 |
55.60 |
13.64 g/t Au, cut to 34 g/t |
|
includes |
323.78 |
325.01 |
1.23 |
224.00 |
Uncut assay |
DeSantis Project |
DS11-016B |
1157.75 |
1215.35 |
57.60 |
0.51 |
Hole deepened in 2012 |
|
includes |
1166.75 |
1167.25 |
0.50 |
5.83 |
|
|
and includes |
1173.80 |
1179.95 |
6.15 |
1.35 |
|
|
and includes |
1213.25 |
1214.07 |
0.82 |
5.80 |
VG observed @ 1213.35m |
|
DS11-016D |
1099.25 |
1106.05 |
6.80 |
0.73 |
Wedged hole |
|
includes |
1105.40 |
1106.05 |
0.65 |
2.88 |
|
|
DS11-016F |
1192.45 |
1224.15 |
31.70 |
2.16 |
Wedged hole |
|
includes |
1192.45 |
1199.65 |
7.20 |
4.09 |
|
|
and includes |
1210.20 |
1211.65 |
1.45 |
14.55 |
|
|
DS12-005 |
30.31 |
31.12 |
0.81 |
3.14 |
|
|
DS12-006 |
64.18 |
64.52 |
0.34 |
4.32 |
|
|
DS13-007 |
13.65 |
14.00 |
0.35 |
1.63 |
|
|
and |
37.25 |
40.35 |
3.10 |
2.68 |
|
* True widths are
estimated to be 75 - 90 % of core widths for Beschefer and 35 - 55%
for DeSantis. |
Quality Control
Excellon Resources has a comprehensive quality-control program in
place for its Canadian projects to ensure best practice in the
sampling and analysis of drill core. This program is managed
by, Stephen Conquer one of the project Qualified Persons. Drill
core samples are prepared and analyzed by ALS Minerals at either of
its Vancouver, B.C. or
Val d'Or, QC ISO/IEC 17025:2005
accredited laboratories.
Qualified Persons
The Company's Canadian exploration programs are supervised by
John Sullivan, B.Sc., PGeo.,
Excellon's Vice-President of Exploration and Stephen Conquer,
B.Sc., PGeo., Excellon's Exploration Manager, Canada. Both Mr. Sullivan and Mr.
Conquer are "Qualified Persons" for the purposes of National
Instrument 43-101.
About Excellon
An Evolution in High Grade Silver: Excellon's
100%-owned La Platosa Mine in Durango is Mexico's highest grade silver mine, with lead
and zinc by-products making it one of the lowest cash cost silver
mines in the country. The Company is positioning itself to
capitalize on undervalued projects by focusing on increasing La
Platosa's profitable silver production and near term mineable
resources.
Disclaimer:
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
Press Release, which has been prepared by management. This press
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 27E of the Exchange
Act. Such statements include, without limitation, statements
regarding the future results of operations, performance and
achievements of the Company, including potential property
acquisitions, the timing, content, cost and results of proposed
work programs, the discovery and delineation of mineral
deposits/resources/reserves, geological interpretations, proposed
production rates, potential mineral recovery processes and rates,
business and financing plans, business trends and future operating
revenues. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend,
estimate, postulate and similar expressions, or are those, which,
by their nature, refer to future events. The Company cautions
investors that any forward-looking statements by the Company are
not guarantees of future results or performance, and that actual
results may differ materially from those in forward looking
statements as a result of various factors, including, but not
limited to, variations in the nature, quality and quantity of any
mineral deposits that may be located, significant downward
variations in the market price of any minerals produced
[particularly silver], the Company's inability to obtain any
necessary permits, consents or authorizations required for its
activities, to produce minerals from its properties successfully or
profitably, to continue its projected growth, to raise the
necessary capital or to be fully able to implement its business
strategies. All of the Company's public disclosure filings may be
accessed via www.sedar.com and readers are urged to review these
materials, including the technical reports filed with respect to
the Company's mineral properties, and particularly the November 22, 2011 NI 43-101-compliant technical
report prepared by Roscoe Postle Associates Inc. with respect to
the Platosa Property. This press release is not, and is not to be
construed in any way as, an offer to buy or sell securities in
the United States.
SOURCE Excellon Resources Inc.
Image with caption: "Map 1: Beschefer Property - Plan Map (CNW
Group/Excellon Resources Inc.)". Image available at:
http://photos.newswire.ca/images/download/20130404_C2431_PHOTO_EN_25146.jpg
Image with caption: "Map 2: Beschefer Property - Section 21
Holes 035, 042 & 045 (CNW Group/Excellon Resources Inc.)".
Image available at:
http://photos.newswire.ca/images/download/20130404_C2431_PHOTO_EN_25147.jpg
Image with caption: "Map 3: Beschefer Property - Section 26,
Holes 038 & 046 (CNW Group/Excellon Resources Inc.)". Image
available at:
http://photos.newswire.ca/images/download/20130404_C2431_PHOTO_EN_25148.jpg
Image with caption: "Map 4: DeSantis Property - Plan Map (CNW
Group/Excellon Resources Inc.)". Image available at:
http://photos.newswire.ca/images/download/20130404_C2431_PHOTO_EN_25149.jpg
Image with caption: "Map 5: DeSantis Property - Schematic
Longitudinal Section (CNW Group/Excellon Resources Inc.)". Image
available at:
http://photos.newswire.ca/images/download/20130404_C2431_PHOTO_EN_25150.jpg
Image with caption: "Map 6: DeSantis Property - Schematic
Vertical Section (CNW Group/Excellon Resources Inc.)". Image
available at:
http://photos.newswire.ca/images/download/20130404_C2431_PHOTO_EN_25151.jpg