TORONTO, Oct. 26, 2021 /CNW/ - Excellon Resources
Inc. (TSX: EXN) (NYSE: EXN) (FRA: E4X2) ("Excellon" or the
"Company") is pleased to announce results from underground
drilling at the Platosa Mine in Durango,
Mexico.
Highlights
- High-grade results from the 623, NE-1, NE-1S, and Pierna
mantos, with diamond drilling results from underground
including:
-
- 3,043 g/t silver equivalent ("AgEq") over 2.2 metres (2,160
g/t Ag, 24.6% Pb, 7.2% Zn) in EX21UG698;
- 764 g/t AgEq over 7.5 metres (648 g/t Ag, 2.6% Pb, 1.4% Zn)
in EX21UG691;
- 1,008 g/t AgEq over 3.4 metres (766 g/t Ag, 4.7% Pb and 3.5%
Zn) in EX21UG733;
- 801 g/t AgEq over 3.4 metres (501 g/t Ag, 5.8% Pb, 4.4% Zn)
in EX21UG709;
- 5,110 g/t AgEq over 0.5 metres (4,451 g/t Ag, 8.8% Pb, 12.2%
Zn and 0.2 g/t Au) in EX21UG706;
- 903 g/t AgEq over 2.6 metres (523 g/t Ag, 3.5% Pb, 8.5% Zn)
in EX21UG740;
- Underground drilling continues to define and delineate
mineralization to support mine planning;
- Follow-up drilling on vertical zone intersected in hole
EX21UG690 (2,860 g/t AgEq over 7.5 metres) is underway with assays
pending.
"Drilling at Platosa continues to define and extend high-grade
mineralization ahead of production," stated Jorge Ortega, Vice President Exploration. "We
continue to focus on infill drilling to support planning for
upcoming and future production, as well as testing the recently
discovered high-grade zone – the 817 Zone – below Manto 623. We
have now drilled an additional 20 holes on the 817 Zone with assays
pending. This zone appears to have a vertical orientation and has
the potential to open up a more vertical dimension to the
deposit."
Exploration Results
The following table shows highlighted intervals from the current
definition and infill program being conducted from underground at
Platosa:
Hole
ID(1)
|
Interval(2)
|
Interval(3)
|
Ag
|
Pb
|
Zn
|
Au
|
AgEq(4)
|
Area
|
From
|
To
|
metres
|
g/t
|
%
|
%
|
g/t
|
g/t
|
|
EX21UG691
|
31.5
|
39.0
|
7.5
|
648
|
2.6
|
1.4
|
-
|
764
|
623
|
EX21UG698
|
64.3
|
66.5
|
2.2
|
2,160
|
24.6
|
7.2
|
-
|
3,043
|
NE-1S
|
EX21UG706
|
44.6
|
45.1
|
0.5
|
4,451
|
8.8
|
12.2
|
0.2
|
5,110
|
Pierna
|
EX21UG709
|
42.9
|
46.3
|
3.4
|
501
|
5.8
|
4.4
|
-
|
801
|
Pierna
|
EX21UG711
|
26.2
|
27.1
|
0.9
|
1,310
|
9.8
|
4.2
|
0.1
|
1,718
|
623
|
EX21UG716
|
54.4
|
55.8
|
1.4
|
585
|
4.5
|
3.0
|
-
|
806
|
NE-1
|
EX21UG719
|
40.8
|
41.5
|
0.7
|
288
|
1.8
|
6.3
|
-
|
550
|
NE-1S
|
EX21UG733
|
84.4
|
87.8
|
3.4
|
766
|
4.7
|
3.5
|
-
|
1,008
|
NE-1
|
EX21UG738
|
64.6
|
66.1
|
1.5
|
445
|
3.9
|
7.4
|
-
|
801
|
NE-1
|
EX21UG740
|
63.1
|
65.8
|
2.7
|
523
|
3.5
|
8.5
|
-
|
903
|
NE-1
|
EX21UG742
|
65.8
|
67.7
|
1.9
|
327
|
4.0
|
12.8
|
-
|
869
|
NE-1
|
EX21UG743
|
64.5
|
65.1
|
0.6
|
748
|
0.8
|
4.2
|
-
|
914
|
NE-1
|
(1)
|
Highlighted
intervals include holes intersecting >0.5m and over 500 g/t AgEq
from a total of 22 drill
holes (1,550 metres)
|
(2)
|
From-to intervals
are measured from the drill collar. All holes were drilled from
underground stations.
|
(3)
|
All intervals are
reported as core length with true width estimated to range from
50-90% of core length.
|
(4)
|
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 623, NE-1, NE-1S, and
Pierna Mantos. Drilling at Platosa will continue to target areas
ahead of production and test the extent of mineralization around
mine workings.
Drilling to follow up on the hole EX21UG690, which intersected a
wide high-grade interval that has a potential vertical orientation
(see press release dated October 5,
2021) is currently underway, with assay results
pending.
Technical Information and Quality Control Notes
The drilling results contained in this news release have been
prepared in accordance with National Instrument 43-101 Standards of
Disclosure for Mineral Projects ("NI 43-101").
Platosa drill core samples are prepared and assayed by SGS
Minerals Services in Durango,
Mexico. The lab is accredited to ISO/IEC 17025. Assay
turnarounds have been impacted recently by supply and labour
shortages related to COVID-19. The Company has a comprehensive
QA/QC program, supervised by an independent Qualified Person.
The sampling of, and assay data from, the core sampling and
reporting is monitored through a quality assurance and quality
control (QAQC) program designed according to best industry
practice. Samples from HQ sized drill core are selected by
Excellon geologists and cut into halves at the project site. Half
of the core is retained at the site for reference purposes. Sample
intervals vary from 0.3 to 1.5 metres in length with samples being
selected to honour geological contacts. Samples are labeled and
packed into sealed plastic bags which are grouped into larger fiber
bags for shipping. A formal chain-of-custody procedure is in place
for security of samples from project to laboratory.
Samples are shipped to SGS Laboratories in Durango City. Samples
then undergo crushing to two millimetres followed by pulverizing to
homogenize samples before a 50-gram sub sample is selected for
analysis. The samples are then analyzed using fire assay for gold
and silver with a gravimetric finish and multi-element analysis
performed by ICP analysis for base metals and multi-element
data.
Qualified Person
Jorge Ortega, P.Geo., Vice
President Exploration, 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 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.
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.