TORONTO, Oct. 19, 2021
/CNW/ - Excellon Resources Inc. (TSX: EXN) (NYSE: EXN) (FRA:
E4X2) ("Excellon" or the "Company") is pleased to
announce Q3 2021 production results from the Platosa Mine in
Durango, Mexico.
Q3 2021 Production (compared to Q3 2020)
- Silver equivalent ("AgEq") production of 521,160 oz (Q3 2020
– 524,312 AgEq oz), including:
-
- Silver production of 326,706 oz (Q3 2020 – 326,909
oz)
- Lead production of 1.9 million lb (Q3 2020 – 2.2 million
lb)
- Zinc production of 2.0 million lb (Q3 2020 – 2.7 million
lb)
- Fifth consecutive quarter of over 21,000 tonnes mined and
milled and strongest nine-months of silver production since
2014
"We have had another solid quarter of production from Platosa at
the higher productivity rates that we have realized since Q3 2020,"
stated Brendan Cahill, President and
CEO. "We realized good improvements in mill recoveries late in Q3,
which we continue to see as Q4 processing has commenced."
"As importantly, our team in Mexico has committed to achieving full
vaccination, with over 99% now partially vaccinated and over 80%
fully vaccinated. Like all, we have faced challenges over the past
18 months and I'm humbled by our team's dedication to each other's
wellness and drive to always put health and safety first."
Production Results
|
Q3
2021
|
Q3
2020
|
9-mos
2021
|
9-mos
2020
|
Tonnes
Mined
|
21,592
|
21,877
|
64,576
|
45,046
|
Tonnes
Milled
|
21,302
|
22,612
|
64,712
|
42,941
|
Ore
grades
|
Silver
(g/t)
|
526
|
483
|
513
|
510
|
Lead
(%)
|
4.89
|
5.26
|
5.13
|
5.34
|
Zinc
(%)
|
5.38
|
6.81
|
6.20
|
6.80
|
Recoveries
|
Silver
(%)
|
90.9
|
93.0
|
89.2
|
91.4
|
Lead
(%)
|
81.2
|
85.0
|
80.5
|
84.0
|
Zinc
(%)
|
78.3
|
80.9
|
77.5
|
78.3
|
Metal
Production(1)
|
Silver
(oz)
|
326,706
|
326,909
|
951,466
|
642,109
|
Lead
(lb)
|
1,868,018
|
2,227,511
|
5,894,807
|
4,247,172
|
Zinc
(lb)
|
1,977,593
|
2,746,328
|
6,846,188
|
5,036,098
|
AgEq
(oz)(2)
|
521,160
|
524,312
|
1,527,287
|
1,082,978
|
Average Realized
Prices
|
Silver
(US$/oz)
|
24.11
|
24.82
|
25.71
|
20.18
|
Lead
(US$/lb)
|
1.07
|
0.84
|
0.99
|
0.80
|
Zinc
(US$/lb)
|
1.36
|
1.10
|
1.31
|
0.99
|
1.
|
Subject to
adjustment following settlement with concentrate
purchaser.
|
2.
|
AgEq ounces
established using average realized metal prices during the period
indicated applied to the recovered metal content of
concentrates.
|
Consistent metal production continued in Q3 2021, with higher
silver head grades and lower lead and zinc grades in Q3 2021
compared to Q3 2020. Recoveries were lower in Q3 2021
compared to the comparative period but were higher than in
preceding quarters in 2021. Modifications to the operating
scheme of the flotation circuit in September brought recoveries
back in line with Q3 2020 performance for silver and lead, with
zinc recoveries improving to above 80%. Seasonal weather conditions
in late September resulted in higher ore and unsold concentrate
inventories at quarter end, which were processed and/or delivered
in early October.
Comparative results for the nine-month period ended September 30, 2020 were impacted by the
suspension of operations in Mexico
from April 2, 2020 to June 1, 2020 pursuant to the Mexican presidential
order to mitigate the spread of COVID-19.
COVID-19 Update
Excellon continues to benefit from robust measures to prevent
COVID-19 among the workforce and local communities and to monitor
the effectiveness of these measures in mitigating any potential
impact on business activities. The Company's actions have been
successful to date and the pandemic has not had any material impact
on production or shipment of concentrate. Vaccination programs are
progressing well in Mexico, with
over 99% and over 80% of the Company's workforce having received
first and second vaccinations, respectively.
Qualified Persons
Paul Keller, P. Eng., 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 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 advanced-exploration
gold 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.