TORONTO, Jan. 15, 2019 /CNW/ - Excellon Resources Inc.
(TSX:EXN and OTC:EXLLF) ("Excellon" or
the "Company") is pleased to announce fourth quarter
and annual 2018 production results from the Platosa Mine in
Durango, Mexico.
Highlights
- 2018 Production (compared to 2017)
-
- Silver equivalent ("AgEq") production increased 27% to 1.9
million oz
(2017– 1.5 million AgEq oz)
- Silver production increased 28% to 917,714 oz (2017 –
718,460 oz)
- Lead production increased 31% to 5.5 million lb (2017 – 4.2
million lb)
- Zinc production increased 30% to 7.9 million lb (2017 – 6.1
million lb)
- Q4 2018 Production (compared to Q4 2017)
-
- AgEq production increased 7% to 509,043 oz (Q4 2017 –
475,007 AgEq oz)
- Silver production increased 23% to 274,324 oz (Q4 2017 –
223,349 oz)
- Lead production increased 25% to 1.5 million
lb (Q4 2017 – 1.2 million lb)
- Zinc production decreased 5% to 1.8 million lb
(Q4 2017 – 1.9 million lb)
"We realized strong improvements in production in Q4 over Q3
2018, though December scheduling and lower base metal prices
impacted silver equivalent production," stated Brendan Cahill, President and
CEO. "Overall, 2018 was a strong year, with record tonnage
processed at our Miguel Auza
facility and Platosa optimization efforts continuing to pay off. We
continue to identify and pursue opportunities to increase metal
production and remain focused on increasing daily tonnage while
maintaining improved ore grades."
Production Results
|
Q4
2018
|
Q4
2017
|
2018
|
2017
|
Tonnes
Mined
|
16,570
|
16,114
|
57,475
|
57,165
|
Ore processed
(t)
|
16,132
|
15,203
|
56,874
|
54,425
|
Historical
stockpile processed (t)
|
5,209
|
2,775
|
24,130
|
9,316
|
Tonnes
Milled
|
21,341
|
17,978
|
81,004
|
63,742
|
Ore
grades
|
Silver
(g/t)
|
556
|
467
|
488
|
429
|
Lead
(%)
|
4.90
|
4.19
|
4.87
|
4.12
|
Zinc
(%)
|
6.07
|
6.49
|
6.90
|
5.92
|
Historical
stockpile grades
|
Silver
(g/t)
|
152
|
191
|
163
|
181
|
Lead
(%)
|
1.49
|
1.72
|
1.55
|
1.55
|
Zinc
(%)
|
1.57
|
2.09
|
1.95
|
1.69
|
Blended head
grades
|
Silver
(g/t)
|
458
|
424
|
391
|
393
|
Lead
(%)
|
4.07
|
3.81
|
3.88
|
3.75
|
Zinc
(%)
|
4.97
|
5.81
|
5.42
|
5.30
|
Recoveries
|
Silver
(%)
|
89.7
|
90.3
|
89.2
|
89.3
|
Lead
(%)
|
81.2
|
80.0
|
79.4
|
80.9
|
Zinc
(%)
|
79.4
|
82.2
|
80.8
|
81.4
|
Metal
Production*
|
Silver
(oz)
|
274,324
|
223,349
|
917,714
|
718,460
|
Lead
(lb)
|
1,498,851
|
1,198,286
|
5,446,218
|
4,241,225
|
Zinc
(lb)
|
1,824,406
|
1,897,894
|
7,894,186
|
6,059,922
|
AgEq
(oz)**
|
509,043
|
475,007
|
1,929,092
|
1,470,650
|
Average
Realized Prices
|
|
|
|
|
Silver
|
$14.74
|
$16.32
|
$15.62
|
$16.89
|
Lead
|
$0.89
|
$1.14
|
$1.01
|
$1.08
|
Zinc
|
$1.17
|
$1.45
|
$1.34
|
$1.34
|
|
|
*
|
Subject to
adjustment following settlement with concentrate
purchaser.
|
**
|
AgEq ounces
established using average realized metal prices during the period
indicated
applied to the recovered metal content of
concentrates.
|
Production during Q4 2018 improved over Q3 2018 and Q4 2017 as
multiple ore faces were accessed in the Rodilla, 623, Guadalupe South and Pierna mantos with higher
grades and recoveries realized. With ongoing access to multiple ore
faces, production is expected to improve further as development
progresses toward the next production horizon in level 924.
The Company expects to release fourth quarter financial results
at market open on March 20, 2019.
Qualified Persons
Denis Flood, P. Eng., Vice
President Technical Services, has acted as the Qualified Person, as
defined in NI 43-101, with respect to the disclosure of the
scientific and technical information relating to production results
contained in this press release.
About Excellon
Excellon's 100%-owned Platosa Mine has been Mexico's highest-grade silver mine since
production commenced in 2005. The Company is focused on optimizing
Platosa's cost and production profile, discovering further
high-grade silver and carbonate replacement deposit (CRD)
mineralization on the 21,000 hectare Platosa Project and epithermal
silver mineralization on the 100%-owned 45,000 hectare Evolución
Property, and capitalizing on current market conditions by
acquiring undervalued projects in the Americas.
Additional details on the La Platosa Mine and the rest of
Excellon's exploration properties are available at
http://www.excellonresources.com/.
Forward-Looking Statements
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, 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 September
7, 2018 NI 43-101 technical report prepared by SRK
Consulting (Canada) 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.