TORONTO, Jan. 28, 2020 /CNW/ - Excellon Resources
Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1) ("Excellon" or
the "Company") is pleased to announce fourth quarter
and annual 2019 production results from the Platosa Mine in
Durango, Mexico.
Highlights
- 2019 Production (compared to 2018)
-
- Silver equivalent ("AgEq") production increased 4% to 2.0
million oz
(2018 – 1.9 million AgEq oz)
- Silver production increased 15% to 1.0 million oz (2018 –
917,714 oz)
- Lead production increased 13% to 6.1 million lb (2018 – 5.4
million lb)
- Zinc production increased 7% to 8.4 million lb (2018 – 7.9
million lb)
- Q4 2019 Production (compared to Q4 2018)
-
- AgEq production decreased 8% to 469,707 oz (Q4 2018 –
509,043 AgEq oz)
- Silver production decreased 5% to 259,282 oz (Q4 2018 –
274,324 oz)
- Lead production increased 13% to 1.7 million
lb (Q4 2018 – 1.5 million lb)
- Zinc production increased 13% to 2.1 million
lb (Q4 2018 – 1.8 million lb)
"We mined a record 74,876 tonnes from Platosa in
2019, the most in our 15-year operating history," stated
Brendan Cahill, President and
CEO. "At Miguel Auza, we processed record tonnage of 89,478
tonnes for the year and 26,226 tonnes for Q4 from Platosa and
Hecla's San Sebastian Mine,
demonstrating continued scalability in the milling operation.
During the fourth quarter, flow sheet upgrades resulted in improved
silver recoveries of over 91.7%. We expect zinc recoveries to
further improve with ongoing upgrades."
Production Results
|
Q4
2019*
|
Q4
2018
|
2019*
|
2018
|
Tonnes Mined from
Platosa
|
19,622
|
16,570
|
74,876
|
57,475
|
Ore processed
(t)
|
19,828
|
16,132
|
73,797
|
56,874
|
Historical
stockpile processed (t)
|
-
|
5,209
|
1,450
|
24,130
|
Platosa ore
processed (t)
|
19,828
|
21,341
|
75,247
|
81,004
|
Ore
grades
|
Silver
(g/t)
|
435
|
556
|
497
|
488
|
Lead
(%)
|
4.84
|
4.90
|
4.82
|
4.87
|
Zinc
(%)
|
6.39
|
6.07
|
6.93
|
6.90
|
Historical
stockpile grades
|
Silver
(g/t)
|
-
|
152
|
123
|
163
|
Lead
(%)
|
-
|
1.49
|
1.22
|
1.55
|
Zinc
(%)
|
-
|
1.57
|
1.44
|
1.95
|
Blended head
grades
|
Silver
(g/t)
|
-
|
458
|
490
|
391
|
Lead
(%)
|
-
|
4.07
|
4.75
|
3.88
|
Zinc
(%)
|
-
|
4.97
|
6.82
|
5.42
|
Recoveries
|
Silver
(%)
|
91.7
|
89.7
|
89.9
|
89.2
|
Lead
(%)
|
80.2
|
81.2
|
79.2
|
79.4
|
Zinc
(%)
|
76.5
|
79.4
|
77.7
|
80.8
|
Metal
Production*
|
Silver
(oz)
|
259,282
|
274,324
|
1,054,029
|
917,714
|
Lead
(lb)
|
1,690,610
|
1,498,851
|
6,134,888
|
5,446,218
|
Zinc
(lb)
|
2,062,018
|
1,824,406
|
8,425,221
|
7,894,186
|
AgEq
(oz)**
|
469,707
|
509,043
|
2,002,036
|
1,929,092
|
Average
Realized Prices
|
|
|
|
|
Silver
|
$17.12
|
$14.74
|
$16.07
|
$15.37
|
Lead
|
$0.87
|
$0.89
|
$0.88
|
$0.98
|
Zinc
|
$1.04
|
$1.17
|
$1.12
|
$1.28
|
|
San Sebastián ore
processed (t)
|
6,398
|
-
|
14,231
|
-
|
*
Subject to adjustment following settlement with concentrate
purchaser, 2019 tonnes mined in DMT.
|
** AgEq ounces
established using average realized metal prices during the period
indicated applied to the recovered metal content of
concentrates
|
Production during Q4 2019 accessed multiple ore faces in the
Rodilla, 623, Guadalupe and Pierna mantos. Lower silver production
resulted from grade variability in one of the main production
stopes. Additionally, zinc recoveries remained relatively stable
compared to Q3 2019, as efforts to optimize and stabilize mill
performance continued.
Qualified Persons
Jeremy Ouellette, 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 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 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. 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 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 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.