TORONTO, Jan. 24, 2019 /CNW/ - Excellon Resources
Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company") is
pleased to announce high-grade results from the ongoing surface
exploration program at the Platosa Property in Durango, Mexico, where diamond drilling has
expanded the NE-1S Manto eastward and identified an open zone of
mineralization, with drilling ongoing.
Highlights:
- Highest grade intersections encountered to date on NE-1S
Manto, extending open zone of potential mineralization eastward
from existing mineral resources.
- Anomalous gold continues to be intersected along 623 Trend
which continues into NE-1S Manto and remains open for expansion to
the east.
- High-grade intersections include:
-
- 968 g/t Ag, 9.4% Pb, 20.1% Zn and 0.28 g/t Au or
2,356 g/t silver equivalent ("AgEq") over 5.0 metres in
EX18LP1151;
- 1,127 g/t Ag, 8.41% Pb and 10.46% Zn or 1,996 g/t AgEq over
4.8 metres in EX18LP1155.
"We have encountered significantly higher than anticipated
grades and widths at NE-1S from surface," stated Ben Pullinger, Senior Vice President Geology.
"More importantly, we have identified an open zone to continue
expanding the mineralized footprint to the east with our ongoing
drilling program during 2019."
Exploration Results
The following table shows highlighted intervals from the current
surface drilling program currently targeting the NE-1S Manto.
Hole
ID
|
Interval(1)
|
Interval(2)
|
Au
|
Ag
|
Pb
|
Zn
|
AgEq
(3)
|
From
|
To
|
metres
|
g/t
|
g/t
|
%
|
%
|
g/t
|
EX18LP1144
|
344.0
|
344.8
|
0.9
|
0.02
|
283
|
9.8
|
0.3
|
705
|
EX18LP1147
|
343.5
|
349.1
|
5.6
|
0.03
|
383
|
8.0
|
0.2
|
725
|
including
|
343.5
|
344.2
|
0.7
|
0.07
|
1,394
|
12.5
|
0.1
|
1,917
|
and
|
350.4
|
352.9
|
2.5
|
0.01
|
406
|
3.7
|
0.2
|
570
|
including
|
351.0
|
351.8
|
0.8
|
0.01
|
1,015
|
8.2
|
0.2
|
1,362
|
EX18LP1149
|
347.3
|
347.9
|
0.6
|
0.01
|
2,060
|
7.8
|
9.1
|
2,831
|
EX18LP1151
|
352.0
|
357.0
|
5.0
|
0.28
|
968
|
9.4
|
20.2
|
2,356
|
including
|
352.0
|
353.2
|
1.2
|
0.38
|
1,312
|
17.2
|
24.7
|
3,252
|
EX18LP1154
|
350.3
|
350.2
|
0.4
|
-
|
391
|
1.5
|
0.5
|
478
|
EX18LP1155
|
349.5
|
354.5
|
4.8
|
0.02
|
1,127
|
8.4
|
10.5
|
1,996
|
including
|
349.9
|
350.6
|
0.7
|
0.01
|
4,284
|
24.9
|
8.1
|
5,720
|
(1)
|
From-to intervals
are measured from the drill collar.
|
(2)
|
All intervals are
reported as core length, true width is estimated to be 85-95% of
reported intervals.
|
(3)
|
AgEq in drill
results assumes $17.00 Ag, $1.03 Pb and $1.23 Zn with 100%
metallurgical recovery, consistent with earlier results from the
ongoing drilling program.
|
Today's results are from systematic step out drilling to the
east of the NE-1S Manto. These holes define an additional
approximately 35 metres of eastward extension, where mineralization
remains open and is the target of ongoing surface drilling. These
holes are also located along a gold-bearing northeast structural
trend that continues from the 623 Manto.
Surface drilling continues with a drill rig testing targets in
the same target horizon that hosts the Platosa Mine within the
north-south trending Platosa corridor. The Company is also in the
process of defining new targets at Jaboncillo, PDN, Saltillera North and South
and San Gilberto through its ongoing fieldwork program.
Platosa drill core samples are prepared and assayed by SGS
Minerals Services in Durango,
Mexico. The lab is accredited to ISO/IEC 17025. The Company
has a comprehensive QA/QC program, supervised by an independent
Qualified Person.
Qualified Person
Mr. Ben Pullinger, P. Geo, Senior
Vice-President Geology, 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 exploration
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
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.