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Excellon Resources Inc (3)
Symbol EXN
Shares Issued 32,763,486
Close 2021-10-05 C$ 1.67
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Excellon drills 7.5 m of 2,860 g/t AgEq at Platosa

2021-10-05 07:17 ET - News Release

Mr. Ben Pullinger reports

EXCELLON DRILLS 2,860 G/T SILVER EQUIVALENT OVER 7.5 METRES AT PLATOSA

Excellon Resources Inc. has released results from underground drilling at the Platosa mine in Durango, Mexico.

Highlights:

  • Further high-grade results from the 623, NE-1S and Guadalupe South mantos, with diamond drilling results from underground including:
    • 2,860 grams per tonne silver equivalent (AgEq) over 7.5 metres (1,570 g/t silver, 10.4 per cent lead, 29.6 per cent zinc and 0.1 g/t gold) and 667 g/t AgEq over 2.5 metres (479 g/t Ag, 4.6 per cent Pb and 2.0 per cent Zn) in EX21UG690;
    • 2,009 g/t AgEq over 3.1 metres (1,214 g/t Ag, 8.3 per cent Pb and 16.9 per cent Zn) in EX21UG687;
    • 5,574 g/t AgEq over 0.8 metre (5,052 g/t Ag, 18.4 per cent Pb, 1.3 per cent Zn and 0.1 g/t Au) in EX21UG641;
    • 742 g/t AgEq over 4.8 metres (391 g/t Ag, 6.6 per cent Pb and 5.3 per cent Zn) in EX21UG633;
    • 5,432 g/t AgEq over 0.6 metre (5,012 g/t Ag, 15.8 per cent Pb, 0.4 per cent Zn and 0.1 g/t Au) in EX21UG673;
  • Underground drilling continues to define and delineate mineralization for 2021 and 2022 production;
  • Potential new zone of high-grade mineralization discovered in EX21UG690 below historically mined zone in Guadalupe South, with coming drilling to test vertical attitude and extent.

"Drilling at Platosa continues to define high-grade mineralization ahead of production," stated Ben Pullinger, senior vice-president, geology and corporate development. "With EX21UG690, we have potentially discovered a new zone of very high-grade mineralization sitting below the historically mined upper part of the 623 manto. This mineralization is located approximately 80 metres above the deepest current development heading and appears to have a vertical attitude that was not tested in historical drilling. Follow-up drilling to test this zone is an immediate priority of the ongoing drill campaign."

Exploration results

The associated table shows highlighted intervals from the current definition and infill program being conducted from underground at Platosa.

  
Hole ID (1)     From (2)    To (2)  Interval (3)       Ag       Pb        Zn         Au      AgEq (4)
                     (m)       (m)           (m)    (g/t)      (%)       (%)      (g/t)         (g/t)

EX21UG620           52.5      53.5           1.0      380      4.3       0.4        0.1           511
EX21UG629           60.3      64.7           4.4      358      2.2       3.4        0.1           536
including           61.0      63.0           2.0      669      2.9       6.9        0.1           984
EX21UG633           70.9      75.6           4.8      391      6.6       5.3          -           742
including           73.6      75.6           2.0      728     13.7      10.3          -         1,434
EX21UG635           53.0      54.0           1.0      477      4.0       1.3        0.1           631
EX21UG641           44.6      45.4           0.8    5,052     18.4       1.3          -         5,574
EX21UG671           30.5      31.4           0.9    1,339      1.1       1.0          -         1,403
EX21UG672           62.2      65.6           3.4      358      4.1       2.3          -           544
including           64.4      64.6           0.2    2,862     25.6       7.0          -         3,762
EX21UG673           36.3      36.9           0.6    5,012     15.8       0.4          -         5,432
EX21UG675A          67.0      69.1           2.1      412      6.1       5.4          -           756
and                 72.6      74.3           1.7      322      4.7       8.4        0.2           749
EX21UG679          129.6     131.8           2.2    1,159      5.6       1.2          -         1,345
EX21UG680           33.8      34.4           0.6    1,412      9.1       0.6          -         1,666
EX21UG683          112.7     114.8           2.1      524      4.7       8.0          -           918
EX21UG687           45.7      48.8           3.1    1,214      8.3      16.9          -         2,009
including           46.5      47.7           1.2    2,530     16.7      19.3          -         3,623
EX21UG690           88.7      96.2           7.5    1,570     10.4      29.6        0.1         2,860
including           89.3      92.7           3.4    2,424     14.0      35.0          -         3,987
and                102.1     104.6           2.5      479      4.6       2.0          -           667
including          103.1     103.6           0.5    1,758     16.5       7.5          -         2,441

(1) Highlighted intervals include holes intersecting greater than 0.5 m and over 500 g/t AgEq from a 
total of 71 drill holes (5,142 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 true width is estimated to range from 
50 to 90 per cent of core length.                     
(4) AgEq in drill results assumes $24 per ounce Ag, 90 cents per pound Pb, $1.20 per pound Zn and 
$1,800 per ounce Au with 100-per-cent metallurgical recovery.             
 

Drilling from underground continues to define and expand known mineralization ahead of production at the 623 and NE-1S mantos. Drilling at Platosa will continue to target areas ahead of production and test the extent of mineralization around mine workings.

EX21UG690 is particularly noteworthy, as high-grade mineralization was intersected approximately 10 metres below historically mined mineralization at the top of the 623 manto, approximately 80 metres above the deepest current heading at Platosa. This mineralization appears to have a subvertical bearing that is different from the predominantly horizontal bearing of mineralization at Platosa. Follow-up drilling to test this zone is an immediate priority of the continuing drill campaign, with preparation under way for a more optimal drilling location.

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.

Platosa drill core samples are prepared and assayed by SGS Minerals Services in Durango, Mexico. The lab is accredited to International Organization for Standardization/International Electrotechnical Commission 17025. Assay turnarounds have been impacted recently by supply and labour shortages related to COVID-19. The company has a comprehensive quality assurance/quality control program, supervised by an independent qualified person.

The sampling of and assay data from the core sampling and reporting are monitored through a quality assurance and quality control (QA/QC) 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 labelled and packed into sealed plastic bags, which are grouped into larger fibre 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 subsample is selected for analysis. The samples are then analyzed using fire assay for gold and silver with a gravimetric finish and multielement analysis performed by ICP (inductively coupled plasma) analysis for base metals and multielement data.

Qualified person

Ben Pullinger, PGeo, senior vice-president of geology and corporate development, has acted as the qualified person, as defined in National Instrument 43-101, with respect to the disclosure of the scientific and technical information contained in this press release.

About Excellon Resources Inc.

Excellon's vision is to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of its 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.

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