TORONTO, March 14, 2019 /CNW/ - Excellon Resources Inc.
(TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company") is
pleased to report further exploration results from the Evolución
Property in the state of Zacatecas,
Mexico. This program is the first drilling in the area since
2010 and follows an extensive, year-long prospecting and mapping
program which has identified several priority targets.
Highlights
- Broad intersections of continuous silver, lead and zinc
mineralization with anomalous gold intersected on the Lechuzas
vein, with an open strike of 600 metres and open below 500 metres
with high grade zones, including:
- 101 g/t silver equivalent ("AgEq") (22 g/t Ag, 0.4% Pb, 1.0% Zn
and 0.1 g/t Au) over 154 metres in EX18MAZ-251, including 532
g/t AgEq (188 g/t Ag, 4.4% Pb, 2.9% Zn and 0.1 g/t Au) over 2.4
metres and 238 g/t AgEq (48 g/t Ag, 0.7% Pb, 2.8% Zn and 0.1
g/t Au) over 17.7 metres;
- 70 g/t AgEq (14 g/t Ag, 0.3% Pb, 0.7% Zn and 0.1 g/t Au) over
219 metres in EX18MAZ-253, including 274 g/t AgEq (70 g/t
Ag, 1.3% Pb, 2.2% Zn and 0.4 g/t Au) over 12.6 metres;
- 663 g/t AgEq (175 g/t Ag, 4.3% Pb, 5.4% Zn and 0.4 g/t Au)
over 3.4 metres in EX18MAZ-257; and
- 259 g/t AgEq (64 g/t Ag, 1.4% Pb, 2.2% Zn and 0.3 g/t Au)
over 24.9 metres in EX18MAZ-258.
"We are still in the early days of exploring at Evolución, but
the grades, widths and consistency of mineralization that we have
intersected along strike and down dip are very encouraging," stated
Ben Pullinger, Senior Vice President
Geology. "This drilling has loosely defined a large disseminated
mineralized zone and we are working to use this data to vector in
on higher grades in future drilling. We continue to view these
results as evidence of a large mineralized system especially
considering the amount of metal represented in these intersections
and the numerous additional veins to be tested regionally."
Highlighted Results – Lechuzas Vein
Hole
ID
|
Dip
|
Azi
|
Interval
|
Interval
|
Ag
|
Pb
|
Zn
|
Au
|
AgEq(2)
|
(o)
|
(o)
|
From
|
To
|
(m)(1)
|
g/t
|
%
|
%
|
g/t
|
g/t
|
EX18MAZ-245
|
-66
|
314
|
233.27
|
236
|
2.7
|
29
|
0.5
|
0.4
|
0.3
|
70
|
and
|
|
|
355.4
|
360.4
|
5.0
|
20
|
0.3
|
0.6
|
0.0
|
62
|
EX18MAZ-246
|
-50
|
314
|
410.9
|
436.1
|
25.2
|
9
|
0.2
|
0.4
|
0.1
|
35
|
including
|
|
|
410.9
|
418.5
|
7.6
|
20
|
0.5
|
0.7
|
0.1
|
75
|
and
|
|
|
424.7
|
436.1
|
11.4
|
6
|
0.1
|
0.3
|
0.1
|
27
|
EX18MAZ-251
|
-74
|
314
|
164.4
|
318.3
|
153.9
|
22
|
0.4
|
1
|
0.1
|
101
|
including
|
|
|
179.1
|
181.5
|
2.4
|
188
|
4.4
|
2.9
|
0.1
|
532
|
and
|
|
|
210
|
316.8
|
106.8
|
23
|
0.4
|
1.3
|
0.1
|
118
|
including
|
|
|
228.5
|
246.3
|
17.7
|
48
|
0.7
|
2.8
|
0.2
|
238
|
and
|
|
|
253.1
|
286.2
|
33.1
|
17
|
0.3
|
1.2
|
0.1
|
106
|
EX18MAZ-253
|
-78
|
314
|
174
|
393.1
|
219.1
|
14
|
0.3
|
0.7
|
0.1
|
70
|
including
|
|
|
186.8
|
199.4
|
12.6
|
70
|
1.3
|
2.2
|
0.4
|
274
|
and
|
|
|
229.3
|
254.3
|
25
|
30
|
1
|
1.4
|
0.1
|
147
|
EX18MAZ-254
|
-77
|
314
|
279
|
439.5
|
160.5
|
9
|
0.1
|
0.7
|
0.1
|
56
|
including
|
|
|
318.8
|
348.4
|
29.6
|
12
|
0.2
|
1.1
|
0
|
80
|
and
|
|
|
400.8
|
432.4
|
31.6
|
17
|
0.2
|
1.1
|
0.2
|
97
|
EX18MAZ-255
|
-68
|
314
|
410.4
|
556.5
|
162.1
|
5
|
0.1
|
0.5
|
0
|
37
|
EX18MAZ-256
|
-50
|
314
|
284.6
|
298.1
|
13.5
|
23
|
0.5
|
0.6
|
0
|
73
|
EX18MAZ-257
|
-60
|
314
|
132.4
|
135.8
|
3.4
|
175
|
4.3
|
5.4
|
0.4
|
663
|
EX18MAZ-258
|
-75
|
314
|
26.7
|
207.3
|
178.6
|
19
|
0.4
|
0.6
|
0.1
|
71
|
including
|
|
|
81.8
|
123.3
|
41.5
|
29
|
0.6
|
0.8
|
0.1
|
100
|
and
|
|
|
182.4
|
207.3
|
24.9
|
64
|
1.4
|
2.2
|
0.3
|
259
|
EX18MAZ-259
|
-80
|
314
|
223.8
|
370.2
|
122.7
|
13
|
0.3
|
0.5
|
0.1
|
58
|
including
|
|
|
224.8
|
316.8
|
84.4
|
18
|
0.4
|
0.6
|
0.1
|
74
|
including
|
|
|
252.9
|
308.8
|
55.9
|
21
|
0.5
|
0.8
|
0.1
|
88
|
including
|
|
|
273
|
298.7
|
25.7
|
30
|
0.8
|
1
|
0.1
|
122
|
|
|
(1)
|
All intersections
reported as core length.
|
(2)
|
AgEq drill results
assumes $1,250 Au, $16.00 Ag, $0.95 Pb and $1.24 Zn with 100%
metallurgical recovery.
|
This program followed up on promising results encountered in
earlier drilling on the Lechuzas structure in EX18MAZ-236 and
EX18MAZ-235 (see Lechuzas sections below). The program succeeded in
tracing mineralization along strike for 600 metres and to a depth
of approximately 500 metres, where it remains open along strike and
down dip. Follow up drilling associated with this target will be
focused on delineating higher-grade vectors within the system.
Mineralization at the Lechuzas target is hosted within the Caracol
formation, which is a host to the most significant deposits within
the Fresnillo trend. Precious and
base metal mineralization occur within and associated with
carbonate veining in structures in the host formation. Pyrite,
sphalerite and galena are the most commonly observed minerals
within the mineralized intervals. Drilling to the north west in
EX18MAZ-258 and 259 also encountered mineralization associated with
silica and quartz veining. Textures observed within the calcite
veins display blading with banding, with similar textures also
observed when silica is noted in veins.
Other Targets
Drilling at other targets including the Abejas, El Cobre,
Pastizal and Negrillas veins was also conducted as part of this
program. Holes EX18MAZ-242, EX18MAZ-250 and EX18MAZ-252 drill
tested a quartz-calcite vein at Abejas. All holes intersected the
target structure with anomalous precious metals values intersected
in EX18MAZ-242. At El Cobre, EX18MAZ-241 encountered no significant
mineralization. Anomalous mineralization was encountered in
EX18MAZ-243 and EX18MAZ-244 which targeted the Pastizal vein.
EX18MAZ-243 intersected 65 g/t AgEq (50 g/t Ag, 0.01% Pb, 0.04% Zn
and 0.27 g/t Au) over 0.7 meters and EX18MAZ-244 intersected 197
g/t AgEq (131 g/t Ag, 0.1% Zn and 0.8 g/t Au) over 0.7 metres.
Three holes were completed at the Negrillas target following up
on mineralization intersected in historical drilling. EX18MAZ-247
intersected 43 g/t AgEq (23 g/t Ag, 0.3 %Pb, 0.2% Zn) over 4.2
metres and EX18MAZ-248 returned 506 g/t AgEq (477 g/t Ag, 0.3% Pb,
0.3% Zn, 0.3 g/t Au) over 1.14 metres. EX18MAZ-249 encountered no
significant mineralization.
Mineralization in the Evolución region is hosted in
epithermal quartz veins typical of the Fresnillo silver belt, most proximally at
Hecla Mining Company's San Sebastián Mine, 42 kilometres to the
northwest and along strike from Evolución. Mining was historically
undertaken on the Calvario Vein and via multiple shafts along the
structures being tested as part of this program.
The Evolución property covers 45,000 hectares (450
km2) and 35 kilometres of strike in one of the
world's premier silver districts. The property includes a mineral
processing facility, which the Company utilizes to process ore from
its Platosa Mine in the state of Durango,
Mexico. The mineral processing facility currently has
capacity of 800 tonnes per day ("tpd"), with a 650 tpd ball mill in
operation and a second, 150 tpd ball mill on standby, with
opportunities available for further expansion. Ample capacity
remains available to process increased Platosa Mine production and
potential new discoveries at either Platosa or Evolución, along
with ore from San Sebastián expected to enter bulk sample testing
pursuant to a toll milling arrangement later this year.
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.