TORONTO, June 9, 2020 /CNW/ - Excellon Resources
Inc. (TSX:EXN) (TSX: EXN.WT) (OTC: EXLLF) (FRA: E4X1) ("Excellon"
or the "Company") is pleased to announce an agreement
(the "R&D Agreement") with the Helmholtz Institute Freiberg for
Resource Technology ("HIF") for research and development on the
164 km2 Silver City Project in Saxony, Germany. Excellon will provide HIF with data
and drill core samples from the Silver City Project through which
HIF can test developing, cutting-edge exploration technologies in
real time, including hyperspectral analysis of drill core.
"This R&D Agreement matches the exploration technologies of
the future with Saxony's historical mineral wealth," stated
Brendan Cahill, President and CEO of
Excellon. "The Silver City Project realized over 750 years of
high-grade silver production until the 1870s, yet had never seen
modern day exploration for precious metals until 2019. We now have
the opportunity to deploy the most advanced technologies as
exploration commences. This agreement also reflects the wealth of
learning and technical expertise in Freiberg, mere kilometres from
the project. We are honoured to work with HIF to advance Silver
City over the coming years."
"We are excited for this strategic cooperation with Excellon
Resources and with the Mineral Systems Analysis Group at the TU
Bergakademie Freiberg on the Silver City Project," stated
Jens Gutzmer, founding director of
the HIF. "As an economic geologist I am absolutely thrilled to
seize this opportunity to test the precious metal potential and add
to our understanding of the mineralization in the world-class
Freiberg District."
HIF pursues the objective of developing innovative technologies
for the economy so that mineral and metalliferous raw materials can
be made available and used more efficiently and recycled in an
environmentally friendly manner. HIF was set up in 2011 by the
German government as part of its national strategy for raw
materials. The Institute is a constituent part of the
Helmholtz-Zentrum Dresden-Rossendorf and works in close
collaboration with TU Bergakademie Freiberg (the
University of Freiberg). HIF is a core member of the
European EIT RawMaterials network, having played a
decisive role in its establishment.
Excellon is currently preparing to commence the first ever drill
program for precious metals on the
164 km2 silver district. The Silver City
Project is located within a large, high-grade epithermal system and
has a long history of mining dating back to the 12th century,
with no modern exploration for precious metals.
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 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.