TORONTO, Feb. 25, 2021 /CNW/ - Excellon Resources
Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN)
(FRA: E4X2) ("Excellon" or the "Company") is
pleased to announce results from underground expansion and
exploration drilling at the Platosa Mine in Durango, Mexico.
Highlights
- Further definition and expansion of the Rodilla, NE-1S and
Pierna Mantos, with diamond drilling results from underground
including:
-
- 1,422 g/t silver equivalent ("AgEq") over 8.9 metres (1,023
g/t Ag, 9.3% Pb, 4.5% Zn and 0.1 g/t Au) in EX20UG491, including
4,623 g/t AgEq over 2.2 metres (3,499 g/t Ag, 29.7% Pb,
10.3% Zn and 0.1 g/t Au);
- 1,092 g/t AgEq over 2.4 metres (673 g/t Ag, 6.7% Pb and 7.1%
Zn) in EX20UG493;
- 1,539 g/t AgEq over 1.6 metres (1,258 g/t Ag, 7.5% Pb, 2.4%
Zn and 0.1 g/t Au) in EX20UG506; and
- 984 g/t AgEq over 4.0 metres (721 g/t Ag, 4.1% Pb and 4.5%
Zn) in EX21UG515;
- Drilling underway to define and discover new mineralization
in an area of the Platosa deposit that was never effectively
drilled from surface – the Gap Zone – with 300 metres of potential
mineralized strike to be explored.
"Initial drilling from the top of the Gap Zone has returned
compelling high grade results," stated Ben
Pullinger, Senior Vice President Geology & Corporate
Development. "This sub-vertical structure connects the 623 and
NE-1S mantos and represents a significant opportunity to define
additional mineralization at Platosa. We also continue to define
and add further tonnage around known manto mineralization."
Exploration Results
The following table shows highlighted intervals from the current
definition and infill program being conducted from underground at
Platosa:
Hole
ID
|
Interval(1)
|
Interval(2)
|
Ag
|
Pb
|
Zn
|
Au
|
AgEq(3)
|
Area
|
From
|
To
|
metres
|
g/t
|
%
|
%
|
g/t
|
g/t
|
EX20UG488
|
21.8
|
23.3
|
1.5
|
439
|
5.5
|
6.7
|
-
|
811
|
Pierna
|
including
|
21.8
|
22.5
|
0.7
|
607
|
7.3
|
9.8
|
-
|
1,130
|
|
and
|
29.3
|
29.9
|
0.6
|
195
|
5.1
|
6.4
|
-
|
545
|
|
EX20UG490
|
36.0
|
37.1
|
1.1
|
156
|
1.6
|
9.6
|
-
|
524
|
Pierna
|
including
|
36.4
|
37.1
|
0.6
|
201
|
2.5
|
11.9
|
-
|
674
|
|
EX20UG491
|
67.6
|
76.5
|
8.9
|
1,023
|
9.3
|
4.5
|
0.1
|
1,422
|
Rodilla
|
including
|
67.6
|
69.8
|
2.2
|
3,499
|
29.7
|
10.3
|
0.1
|
4,623
|
|
EX20UG492
|
69.2
|
69.4
|
0.3
|
356
|
5.5
|
2.9
|
-
|
599
|
Rodilla
|
EX20UG493
|
58.1
|
60.5
|
2.4
|
673
|
6.7
|
7.1
|
-
|
1,092
|
NE-1S
|
including
|
58.9
|
59.8
|
0.9
|
1,384
|
13.0
|
11.0
|
0.1
|
2,101
|
|
EX20UG497
|
90.8
|
93.8
|
3.1
|
208
|
2.8
|
6.9
|
-
|
516
|
NE-1S
|
including
|
92.1
|
93.0
|
1.0
|
507
|
6.2
|
19.2
|
-
|
1,323
|
|
EX20UG499
|
93.1
|
94.5
|
1.4
|
114
|
1.6
|
1.7
|
-
|
212
|
NE-1S
|
EX20UG502
|
24.0
|
25.9
|
1.9
|
789
|
7.1
|
6.2
|
0.1
|
1,190
|
NE-1S
|
including
|
24.5
|
25.1
|
0.7
|
1,130
|
7.6
|
12.8
|
0.2
|
1,778
|
|
EX20UG503
|
24.1
|
27.8
|
3.7
|
508
|
4.0
|
7.4
|
-
|
866
|
NE-1S
|
including
|
24.8
|
26.0
|
1.3
|
796
|
4.7
|
14.2
|
-
|
1,408
|
|
EX20UG506
|
28.5
|
30.0
|
1.6
|
1,258
|
7.4
|
2.4
|
0.1
|
1,539
|
623
|
including
|
28.5
|
28.9
|
0.5
|
3,376
|
16.0
|
0.1
|
-
|
3,791
|
|
EX20UG508
|
31.1
|
32.4
|
1.3
|
606
|
6.0
|
0.9
|
-
|
791
|
NE-1S
|
including
|
31.7
|
32.1
|
0.4
|
1,931
|
18.8
|
2.6
|
0.1
|
2,508
|
|
EX20UG509
|
37.2
|
37.5
|
0.3
|
1,612
|
9.2
|
4.7
|
-
|
2,012
|
NE-1S
|
EX21UG513
|
59.3
|
59.6
|
0.3
|
408
|
1.5
|
0.2
|
-
|
454
|
NE-1
|
EX21UG514
|
33.8
|
35.1
|
1.2
|
261
|
3.3
|
7.5
|
-
|
603
|
Gap
|
EX21UG515
|
22.6
|
26.6
|
4.0
|
721
|
4.1
|
4.5
|
-
|
984
|
Gap
|
including
|
23.4
|
24.0
|
0.6
|
1,082
|
1.7
|
6.6
|
-
|
1,353
|
|
and
|
26.0
|
26.6
|
0.6
|
1,980
|
10.0
|
0.8
|
-
|
2,264
|
|
(1) From-to
intervals are measured from the drill collar, with drill holes
marked UG or PH drilled from underground
stations. (2) All
intervals are reported as core length with true widths estimated to
be between 50 and
95%. (3) AgEq
in drill results assumes $24.00 Ag, $0.90 Pb, $1.20 Zn
and $1,800 Au with 100% metallurgical
recovery.
|
Drilling from underground continues to define and expand known
mineralization ahead of production at the Pierna, NE-1 and NE-1S
Mantos. Most significantly, drilling into the Gap Zone (see figure
1), a zone of vertical mineralization inadequately tested with
vertical holes drilled from surface, provides a significant
opportunity to add additional mineralization along a target
approximately 300 metres along strike with a vertical extent of
30-40 metres. This target will be a priority for the 2021 program
and remains open to the south of the deposit, where drilling from
surface at the 10-20 target has intersected mineralization beyond
the current extent of the Platosa mineral footprint.
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 & Corporate Development, has acted as
the Qualified Person, as defined in NI 43-101, with respect to the
disclosure of the scientific and technical information contained in
this press release.
About Excellon
Excellon's vision is to create wealth by realizing strategic
opportunities through discipline and innovation for the benefit of
our employees, communities and shareholders. The Company is
advancing a precious metals growth pipeline that includes: Platosa,
Mexico's highest-grade silver mine
since production commenced in 2005; Kilgore, a high quality gold development
project in Idaho with strong
economics and significant growth and discovery potential; and an
option on Silver City, a high-grade epithermal silver district in
Saxony, Germany with 750 years of
mining history and no modern exploration. The Company also aims to
continue capitalizing on current market conditions by acquiring
undervalued projects.
Additional details on Excellon's 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 mineral resources estimates, 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. 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.
Cautionary Note to U.S. Investors: The terms
"mineral resource," "measured mineral resource," "indicated mineral
resource" and "inferred mineral resource," as used on Excellon's
website and in its press releases are Canadian mining terms that
are defined in accordance with National Instrument 43-101 –
Standards of Disclosure for Mineral Projects ("NI 43-101"). These
Canadian terms are not defined terms under United States Securities
and Exchange Commission ("SEC") Industry Guide 7 and are normally
not permitted to be used in reports and registration statements
filed with the SEC by U.S. registered companies. The SEC
permits U.S. companies, in their filings with the SEC, to disclose
only those mineral deposits that a company can economically and
legally extract or produce. Accordingly, note that
information describing the Company's "mineral resources" is not
directly comparable to information made public by U.S. companies
subject to reporting requirements under U.S. securities laws. U.S.
investors are urged to consider closely the disclosure in the
Company's Form 40-F which may be secured from the Company, or
online at http://www.sec.gov/edgar.shtml.
SOURCE Excellon Resources Inc.