TORONTO, Feb. 18, 2020 /CNW/ - Excellon Resources Inc.
(TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1) ("Excellon" or
the "Company") is pleased to provide an exploration update
on Evolución, Platosa and Silver City.
Highlights
Evolución
- Continued expansion of the Lechuzas zone along strike and
down dip;
- Broad intersections of continuous silver, lead and zinc
mineralization, including high grade intersections over narrower
widths:
-
- 103 g/t AgEq (27 g/t Ag, 0.8% Pb, 1.1% Zn, 0.1 g/t Au) over
18.7 metres in EX19MAZ-265, including 416 g/t AgEq (105 g/t Ag,
3.5% Pb, 4.2% Zn, 0.3 g/t Au) over 2.0 metres and 213 g/t AgEq (53
g/t Ag, 1.4% Pb, 2.5% Zn, 0.1 g/t Au) over 3.0 metres;
- 779 g/t AgEq (290 g/t Ag, 6.9% Pb, 5.9% Zn, 0.2 g/t Au) over
1.5 metres in EX19MAZ-272, including 1,111 g/t AgEq (474 g/t Ag,
10.1% Pb, 6.9% Zn, 0.2 g/t Au) over 0.7 metres and 244 g/t AgEq (51
g/t Ag, 1.9% Pb, 2.9% Zn, 0.1 g/t Au) over 4.5 metres, including
483 g/t AgEq (104 g/t Ag, 3.9% Pb, 5.7% Zn, 0.2 g/t Au) over 2.0
metres; and
- 172 g/t AgEq (55 g/t Ag, 1.1% Pb, 1.9% Zn) over 3.3 metres
in EX19MAZ-274, including 922 g/t AgEq (280 g/t Ag, 5.9% Pb, 10.5%
Zn, 0.1 g/t Au) over 0.5 metres.
Platosa
- Further expansion of the NE-1S Manto from surface drilling
with high-grade intersections including:
-
- 1,757 g/t AgEq (1,178 g/t Ag, 6.7% Pb, 8.4% Zn, 0.2 g/t Au)
over 6.6 metres in EX19LP-1156, including 2,117 g/t AgEq (1,462 g/t
Ag, 7.5% Pb, 9.6% Zn, 0.1 g/t Au) over 4.8 metres;
- Discovery of a large hydrothermal system 11 kilometres from
the Platosa Mine at the Jaboncillo
target carrying anomalous precious and base metals, suggestive of
the peripheral part of a carbonate replacement deposit ("CRD")
system;
- Resumption of underground drilling for resource expansion
and definition.
Silver City
- Priority targets identified following completion of an
induced polarization (IP) survey;
- Fluid inclusion studies on historical samples confirm the
potential for high-grade epithermal mineralization within a
450-metre vertical window; and
- Permitting documentation submitted to regulators in
mid-January, with diamond drilling expected to commence in the
first half of 2020.
"Drilling at Evolución in 2019 continued to hit broad zones of
mineralization on the Lechuzas target," stated Ben Pullinger, Senior Vice President Geology.
"Based on these results, we are now assessing the opportunity to
advance to an initial mineral resource estimate. We have also made
a positive start on the Jaboncillo
target, approximately 11 kilometres northwest of the Platosa Mine.
This target was identified by regional geophysics and prospecting
and has an alteration footprint larger than that at Platosa. Our
initial drilling intersected a large hydrothermal system with
anomalous precious and base metals that may represent the periphery
of a CRD system. Follow-up is required."
Mr. Pullinger continued, "We also look forward to commencing
drilling at our newly optioned Silver City Project in Q2, as
initial permitting is progressing well. We continue to refine drill
targets and improve our understanding of the regional opportunity.
The Silver City area was mined for high-grade silver for 750 years
until the late 1800s, yet has never seen modern exploration for
precious metals."
Evolución
The Evolución Property totals 45,000 hectares (450
km2) and 35 kilometres of strike in one of the
world's premier silver mining districts.
Drilling on the Lechuzas structure at Evolución targeted
extensions of mineralization encountered in previous drilling in
EX18MAZ-236, EX18MAZ-235, EX18MAZ-251, EX18MAZ-253 and EX18MAZ-254
(see press release dated March 14,
2019). The program extended mineralization along strike an
additional 250 metres to 850 metres and down dip to approximately
750 metres. Mineralization remains open along strike and down dip.
Infill drilling also confirmed the presence of mineralization and
the associated geological model.
In addition to this drilling, the Company has also commenced
reassaying, recategorizing and relogging of mineralization
associated with the Calvario vein and other secondary
strutures. Pending the results of this program, the Company
intends to incorporate these and drilling on Lechuzas into an
updated mineral resource estimate and associated technical
report.
The Lechuzas structure is hosted within the Caracol Formation,
which hosts the most significant deposits on the Fresnillo trend. Precious and base metal
mineralization is associated with structural features featuring
carbonate and quartz veining that crosscut the host rocks. Pyrite,
sphalerite, and galena are the most commonly observed sulphide
minerals.
Other Targets at Evolución
Several other targets at Evolución were tested as part of
this program. Drilling at the Abejas target encountered
mineralization associated with mineralization within silica and
quartz veining associated with an epithermal system. Textures
observed in veining are indicative of the boiling of fluids seen at
the top of the productive zone for precious metals in these
systems.
Initial drilling at Loma de las
Minas approximately 3.5 kilometres north of Miguel Auza encountered encouraging results at
shallow depths intersecting 141 g/t AgEq (75 g/t Ag, 1.8% Pb, 0.2%
Zn, 0.1 g/t Au) over 2.9 metres. Further work is planned for this
target in 2020.
The Laika target, approximately 22 kilometres east of
Miguel Auza, was discovered by
regional prospecting and mapping which identified a large area with
quartz float within a region highlighted by long and short-wave
Aster imagery. Two holes were drilled (1,095 metres) and
intersected a large argillic-altered zone close to the contact of a
series of rhyolitic volcanic rocks overlying the Caracol Formation.
Field work at Laika and surrounding areas is planned for the first
quarter of 2020.
Mineralization on the Evolución Property is hosted by epithermal
quartz veins typical of the Fresnillo silver trend. Hecla Mining Company's
San Sebastián Mine is located 42 kilometres to the northwest and
along strike from Evolución. Mining in the Evolución area was
historically undertaken on the Calvario Vein accessed by multiple
shafts along the structures currently being tested as part of
Excellon's program. Compilation and 3D modelling of historical
level plans for Calvario along with the 2018-2019 oriented core
data defined a structural extensional/dilatation zone. The Calvario
structure remains open at depth with several historical holes
showing potentially economic values up to 400 metres below
surface.
The Evoluión Property includes a mineral processing facility,
which processes ore from Excellon's Platosa Mine. The mineral
processing facility has capacity of 800 tonnes per day ("tpd"),
with a 650 tpd ball mill in operation and a 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
Miguel Auza, along with ore from
San Sebastián under a toll milling arrangement that is currently in
the bulk sample testing phase.
Exploration Results
(See Figure 1: Evolución Project Exploration Results)
Hole
ID
|
Dip
|
Azi
|
Interval
|
Interval
|
Ag
|
Pb
|
Zn
|
Au
|
AgEq(2)
|
Target
|
(o)
|
(o)
|
From
|
To
|
(m)(1)
|
g/t
|
%
|
%
|
g/t
|
g/t
|
EX19MAZ-260
|
-69
|
113
|
346.90
|
351.53
|
4.6
|
58
|
0.0
|
0.0
|
0.0
|
63
|
Abejas
|
including
|
|
|
349.00
|
351.53
|
2.5
|
83
|
0.1
|
0.0
|
0.0
|
89
|
|
EX19MAZ-261
|
-45
|
90
|
38.97
|
45.51
|
2.9
|
75
|
1.8
|
0.2
|
0.0
|
141
|
LDLM
|
EX19MAZ-263
|
-60
|
314
|
428.59
|
434.13
|
5.5
|
28
|
0.7
|
0.4
|
0.1
|
73
|
Lechuzas
|
including
|
|
|
433.37
|
434.13
|
0.8
|
71
|
2.9
|
1.2
|
0.1
|
222
|
|
and
|
|
|
505.71
|
506.79
|
1.1
|
54
|
1.3
|
1.6
|
0.2
|
180
|
|
and
|
|
|
583.89
|
586.00
|
2.1
|
58
|
1.6
|
2.4
|
1.3
|
320
|
|
EX19MAZ-264
|
-67
|
314
|
411.8
|
412.42
|
0.6
|
196
|
4.0
|
3.8
|
0.2
|
508
|
Lechuzas
|
and
|
|
|
436.92
|
438.53
|
1.6
|
46
|
1.4
|
1.9
|
0.2
|
186
|
|
including
|
|
|
436.92
|
438.06
|
1.1
|
62
|
2.0
|
2.6
|
0.2
|
248
|
|
and
|
|
|
577.25
|
582.18
|
4.9
|
30
|
0.8
|
3.4
|
0.4
|
227
|
|
and
|
|
|
586.08
|
588.41
|
2.3
|
28
|
0.5
|
2.1
|
0.6
|
184
|
|
EX19MAZ-265
|
-63
|
314
|
153.07
|
171.72
|
18.7
|
27
|
0.8
|
1.1
|
0.1
|
103
|
Lechuzas
|
including
|
|
|
153.07
|
155.06
|
2.0
|
105
|
3.5
|
4.2
|
0.3
|
416
|
|
and
including
|
|
|
160.45
|
163.45
|
3.0
|
53
|
1.4
|
2.5
|
0.1
|
213
|
|
EX19MAZ-266
|
-54
|
314
|
75.97
|
84.46
|
8.5
|
43
|
0.5
|
0.6
|
0.1
|
88
|
Lechuzas
|
EX19MAZ-268
|
-50.
|
15
|
203.43
|
204.83
|
1.4
|
31
|
1.1
|
1.2
|
1.3
|
230
|
Lechuzas
|
including
|
|
|
204.00
|
204.24
|
0.3
|
57
|
1.9
|
4.4
|
3.2
|
575
|
|
and
|
|
|
400.45
|
400.80
|
0.4
|
100
|
3.7
|
3.7
|
0.1
|
379
|
|
and
|
|
|
555.25
|
586.50
|
31.3
|
10
|
0.2
|
1.0
|
0.1
|
64
|
Lechuzas
|
EX19MAZ-272
|
-71
|
315
|
345.43
|
346.90
|
1.5
|
290
|
6.9
|
5.9
|
0.2
|
779
|
Lechuzas
|
including
|
|
|
345.43
|
346.15
|
0.7
|
474
|
10.1
|
6.9
|
0.2
|
1,111
|
|
and
|
|
|
451.69
|
452.50
|
0.8
|
26
|
1.1
|
1.1
|
0.0
|
110
|
|
and
|
|
|
471.75
|
472.89
|
1.1
|
241
|
0.8
|
0.9
|
0.1
|
310
|
|
and
|
|
|
502.45
|
506.90
|
4.5
|
51
|
1.9
|
2.9
|
0.1
|
244
|
|
including
|
|
|
502.45
|
504.47
|
2.0
|
104
|
3.9
|
5.7
|
0.2
|
483
|
|
EX19MAZ-273
|
-72
|
315
|
672.95
|
716.77
|
43.8
|
9
|
0.1
|
0.8
|
0.1
|
53
|
Lechuzas
|
including
|
|
|
682.70
|
710.90
|
28.2
|
12
|
0.2
|
1.1
|
0.1
|
68
|
|
and
including
|
|
|
694.33
|
696.30
|
2.0
|
25
|
0.3
|
2.6
|
0.2
|
158
|
|
and
including
|
|
|
706.48
|
707.40
|
0.9
|
24
|
0.1
|
3.7
|
0.0
|
184
|
|
and
|
|
|
722.75
|
727.80
|
5.1
|
20
|
0.6
|
1.2
|
0.1
|
93
|
|
including
|
|
|
725.16
|
727.10
|
1.9
|
36
|
1.1
|
1.9
|
0.1
|
154
|
|
EX19MAZ-274
|
-75
|
313
|
23.75
|
31.68
|
7.9
|
25
|
0.5
|
0.2
|
0.1
|
56
|
Lechuzas
|
and
|
|
|
58.50
|
62.59
|
4.1
|
38
|
0.8
|
0.7
|
0.1
|
102
|
|
including
|
|
|
59.41
|
60.85
|
1.4
|
60
|
1.5
|
1.3
|
0.2
|
180
|
|
and
|
|
|
106.73
|
110.00
|
3.3
|
55
|
1.1
|
1.9
|
0.0
|
172
|
|
including
|
|
|
108.00
|
108.54
|
0.5
|
280
|
5.9
|
10.5
|
0.1
|
922
|
|
and
|
|
|
120.65
|
135.92
|
15.3
|
24
|
0.5
|
0.7
|
0.1
|
74
|
|
including
|
|
|
124.66
|
128.92
|
4.3
|
43
|
1.1
|
1.4
|
0.1
|
144
|
|
and
|
|
|
175.10
|
177.00
|
1.9
|
26
|
0.7
|
0.5
|
0.2
|
87
|
|
|
|
(1)
|
All intersections
reported as core length.
|
(2)
|
AgEq drill results
assumes $1,500 Au/Oz, $17.50 Ag/Oz, $0.85 Pb/lb and $1.05 Zn/lb
with 100% metallurgical recovery.
|
Platosa Project
Regional drilling at Platosa focused on the Jaboncillo target 11 kilometres to the north
west of the Platosa Mine within the Sierra Bermejillo. Twenty holes
were completed and tested six targets over a strike length of
1,200 metres. All holes in this program intersected evidence
of a large hydrothermal alteration system with ten holes
intersecting gossans and jasperoid. Additionally, large
intersections of sulphide bearing breccias and anomalous precious
and base metals were intersected in other holes. These
intersections are believed to be the peripheral part of a CRD
system.
EX19JN-008 intersected a pryritic gossan intersection of 13
metres including discrete intervals of anomalous silver up to 15
g/t Ag and 0.1 % Zn with anomalous antimony, molybdenum and
arsenic. The gossans and breccias occur with calcite, celestite and
clays with an iron rich matrix. EX19JN-013 intersected a
fifteen-metre thick Jasperoid unit with anomalous silver (17 g/t)
and anomalous barium and iron. EX19JN-013 also intersected a
pyritic breccia over nine metres showing up to 7.2% Fe. The breccia
contains clasts of multiple lithologies and pyrite within a black
pyrite-clay matrix. Other holes intersected gypsum-pyrite breccias.
These breccias include host rock clasts within a gypsum matrix with
fine pyrite along the contacts. Based on these initial results, the
Company intends to test additional targets in this area during
2020.
Drilling from surface proximal to the NE-1S Manto at the Platosa
Mine continued to intersect high grade massive sulphide
mineralization over significant widths and suggests that the
Platosa deposit remains open for expansion. Results include:
Hole
ID
|
Dip
|
Azi
|
Interval
|
Interval
|
Ag
|
Pb
|
Zn
|
Au
|
AgEq(2)
|
Target
|
(o)
|
(o)
|
From
|
To
|
(m)(1)
|
g/t
|
%
|
%
|
g/t
|
g/t
|
EX19LP1156
|
-74
|
210
|
357.8
|
364.4
|
6.6
|
1,178
|
6.7
|
8.4
|
0.1
|
1,757
|
NE-1S
|
including
|
|
|
358.2
|
363.0
|
4.8
|
1,462
|
7.5
|
9.6
|
0.1
|
2,117
|
|
EX19LP1158
|
-72
|
216
|
356
|
356.2
|
0.2
|
116
|
0.2
|
0.3
|
0.0
|
138
|
NE-1S
|
EX19LP1160
|
-75
|
200
|
376.3
|
367.4
|
0.2
|
288
|
2.6
|
3.2
|
0.0
|
506
|
NE-1S
|
In 2019, the Company concluded a comprehensive review of the
Platosa Property land holdings and subsequently filed to reduce its
land package to 14,000 hectares from 21,000 hectares with
reductions made in areas of significant overburden and where
geological work indicated little potential for further discoveries.
The reduction will result in significantly lower holding costs.
Additionally, two underground drill drifts are currently being
developed at Platosa and drilling has commenced. Underground
drilling will target gaps between the Pierna, Rodilla and NE-1
mantos. The Company also aims to expand the high grade Manto 623
following up on previous results including 1,450 g/t AgEq over 6.6
metres in EX18UG437 and 3,574 g/t AgEq over 4.9 metres in
EX18UG438. Underground drilling at Platosa has proven effective at
defining and expanding high grade mineralization ahead of
production.
Silver City
The Silver City Project continues to advance, with an IP survey
completed over two targets on the northern part of the license.
Three lines were completed over the Munzig target, an area of
historical high-grade production, with records indicating veins
from 2 to 10 metres wide grading 1,000 g/t Ag. Two lines were
completed over the Steinberg target, which followed up on surface
sampling that contained anomalous silver, arsenic and lead. High
resistivity and chargeability anomalies were detected at both
targets and have been defined within prospective settings that will
be tested during initial drilling.
Fluid inclusion studies completed by the University of Freiberg
on samples from historical mine workings covered a strike length of
approximately 15 kilometres of the main vein system. These studies
confirmed systematic vertical mineral zonation within the larger
epithermal system and an expected vertical extent of the productive
zones of between 300-400 metres. Compilation of historical reports,
maps and images from the Freiberg archives have allowed the Company
to model historically mined areas, providing more detailed
information on targets ahead of drilling.
The Company has filed an operations plan with local regulators
to permit an initial 1,500-2,000 metre drill program. This program
is designed to test down-dip and lateral extensions of historical
mine workings and new targets concealed below shallow overburden
(see Figure 2: Silver City Targets). Permits are expected in the
coming months.
QA/QC
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 mineralization
on the 14,000-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. The Company also holds an option on the 164
km2 Silver City Project in Saxony, Germany, a high-grade epithermal silver
district with 750 years of mining history and no modern
exploration.
Additional details on the 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 to be
construed in any way as, an offer to buy or sell securities in
the United States.
SOURCE Excellon Resources Inc.