TORONTO, Jan. 14, 2021 /CNW/ - Excellon Resources
Inc. (TSX:EXN, EXN.WT; NYSE:EXN, and FRA:E4X2) ("Excellon" or
the "Company") is pleased to announce fourth quarter and
annual 2020 production results from the Platosa Mine in Durango,
Mexico.
Q4 2020 Production (compared to Q4 2019)
- Silver-equivalent ("AgEq") production increased by 18%
to 556,332 AgEq oz
(Q4 2019 – 469,707 AgEq oz), including:
-
- Silver production increased by 37% to 355,581
oz (Q4 2019 – 259,282 oz),
exceeding Q3 2020 as the strongest quarter of silver production
since Q2 2014
- Lead production increased by 32% to 2.2 million lb (Q4 2019
– 1.7 million lb)
- Zinc production increased by 19% to 2.5 million lb (Q4 2019
– 2.1 million lb)
- Continued improvements demonstrate positive impact of
ongoing optimizations
- Record productivity achieved in H2 2020, following restart
in late Q2
"Our Platosa Mine continued to deliver strong production in Q4
2020 after our restart of operations in late Q2, with another
quarter of near record mined and milled tonnage," stated
Brendan Cahill, President & CEO.
"The numerous improvements we have made to the operation are
bearing fruit and we continue to identify additional areas for
optimization. Our Miguel Auza Mill
realized excellent performance throughout 2020 and continues to
deliver strong and improving recoveries. Our metal production for
2020 was not far off 2019, despite losing almost an entire quarter
of production due to the pandemic – a testament to the resilience
and perseverance of our operational teams. We thank them for their
dedication as we look forward to a strong 2021 and yet higher
silver prices to come."
Production Results
|
Q4
2020
|
Q4
2019
|
2020(1)
|
2019
|
Tonnes Mined from
Platosa
|
21,455
|
19,622
|
66,501
|
74,876
|
Tonnes of ore
processed
|
22,626
|
19,828
|
65,567
|
73,797
|
Tonnes of
historical stockpile processed
|
-
|
-
|
-
|
1,450
|
Tonnes
Milled
|
22,626
|
19,828
|
65,567
|
75,247
|
Ore
grades
|
Silver
(g/t)
|
536
|
435
|
519
|
497
|
Lead
(%)
|
5.42
|
4.84
|
5.37
|
4.82
|
Zinc
(%)
|
6.12
|
6.39
|
6.57
|
6.93
|
Recoveries
|
Silver
(%)
|
91.2
|
91.7
|
91.4
|
89.9
|
Lead
(%)
|
82.9
|
80.2
|
83.7
|
79.2
|
Zinc
(%)
|
80.1
|
76.5
|
78.9
|
77.7
|
Metal
Production(2)
|
Silver
(oz)
|
355,581
|
259,282
|
997,690
|
1,054,029
|
Lead
(lb)
|
2,223,465
|
1,690,610
|
6,470,637
|
6,134,888
|
Zinc
(lb)
|
2,452,728
|
2,062,018
|
7,488,825
|
8,425,221
|
AgEq
(oz)(3)
|
556,332
|
469,707
|
1,639,310
|
2,002,036
|
Average Realized
Prices
|
Silver
($)
|
24.46
|
17.12
|
21.59
|
16.07
|
Lead
($)
|
0.87
|
0.87
|
0.83
|
0.88
|
Zinc
($)
|
1.21
|
1.04
|
1.08
|
1.12
|
|
|
|
|
|
Tonnes of ore
processed – San Sebastián
|
-
|
6,398
|
4,785
|
14,231
|
1
|
Production during
2020 was impacted by the COVID-19-related suspension mandated by
the Government of Mexico from April 2nd to June
1st.
|
2
|
Subject to adjustment
following settlement with concentrate purchaser.
|
3
|
AgEq ounces
established using average realized metal prices during the period
indicated applied to the recovered metal content of
concentrates.
|
Platosa continued to outperform 2019 productivity, while
reducing operating costs, improving safety performance and managing
the ongoing threat posed by COVID-19. Recoveries at Miguel Auza improved on an annual basis, while
plant reliability has substantially increased. During 2020, the
operation realized improvements in shift scheduling, mining method,
offtake arrangements and electricity costs, while completing the
phase 2 tailings dam lift and strengthening the management and
technical teams. In the ongoing strong metal price environment,
Excellon's Mexican operations are positioned to continue the
performance achieved in the second half of 2020.
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 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.