07:51:38 EST Tue 07 Dec 2021
Enter Symbol
or Name
USA
CA



Login ID:
Password:
Save
Excellon Resources Inc (3)
Symbol EXN
Shares Issued 32,763,486
Close 2021-10-19 C$ 1.79
Recent Sedar Documents

Excellon produces 521,160 oz AgEq in Q3

2021-10-19 07:09 ET - News Release

Mr. Brendan Cahill reports

EXCELLON ANNOUNCES Q3 PRODUCTION RESULTS

Excellon Resources Inc. has released third quarter 2021 production results from the Platosa mine in Durango, Mexico.

Q3 2021 production (compared with Q3 2020):

  • Silver equivalent (AgEq) production of 521,160 ounces (Q3 2020 -- 524,312 AgEq oz), including:
    • Silver production of 326,706 oz (Q3 2020 -- 326,909 oz);
    • Lead production of 1.9 million pounds (Q3 2020 -- 2.2 million lb);
    • Zinc production of 2.0 million lb (Q3 2020 -- 2.7 million lb);
  • Fifth consecutive quarter of over 21,000 tonnes mined and milled and strongest nine months of silver production since 2014.

"We have had another solid quarter of production from Platosa at the higher productivity rates that we have realized since Q3 2020," stated Brendan Cahill, president and chief executive officer. "We realized good improvements in mill recoveries late in Q3, which we continue to see as Q4 processing has commenced.

"As importantly, our team in Mexico has committed to achieving full vaccination, with over 99 per cent now partially vaccinated and over 80 per cent fully vaccinated. Like all, we have faced challenges over the past 18 months and I'm humbled by our team's dedication to each other's wellness and drive to always put health and safety first."

                                       PRODUCTION RESULTS
                                                           Nine months       Nine months
                           Q3 2021           Q3 2020              2021              2020

Tonnes mined                21,592            21,877            64,576            45,046
Tonnes milled               21,302            22,612            64,712            42,941
Ore grades
Silver (g/t)                   526               483               513               510
Lead (%)                      4.89              5.26              5.13              5.34
Zinc (%)                      5.38              6.81              6.20              6.80
Recoveries
Silver (%)                    90.9              93.0              89.2              91.4
Lead (%)                      81.2              85.0              80.5              84.0
Zinc (%)                      78.3              80.9              77.5              78.3
Metal
production (1)
Silver (oz)                326,706           326,909           951,466           642,109
Lead (lb)                1,868,018         2,227,511         5,894,807         4,247,172
Zinc (lb)                1,977,593         2,746,328         6,846,188         5,036,098
AgEq (oz) (2)              521,160           524,312         1,527,287         1,082,978
Average
realized
prices
Silver (US$/oz)             $24.11            $24.82            $25.71            $20.18
Lead (US$/lb)                 1.07              0.84              0.99              0.80
Zinc (US$/lb)                 1.36              1.10              1.31              0.99

(1) Subject to adjustment following settlement with concentrate purchaser. 
(2) AgEq ounces established using average realized metal prices during the period 
indicated applied to the recovered metal content of concentrates.

Consistent metal production continued in Q3 2021, with higher silver head grades and lower lead and zinc grades in Q3 2021 compared with Q3 2020. Recoveries were lower in Q3 2021 compared with the comparative period but were higher than in preceding quarters in 2021. Modifications to the operating scheme of the flotation circuit in September brought recoveries back in line with Q3 2020 performance for silver and lead, with zinc recoveries improving to above 80 per cent. Seasonal weather conditions in late September resulted in higher ore and unsold concentrate inventories at quarter-end, which were processed and/or delivered in early October.

Comparative results for the nine-month period ended Sept. 30, 2020, were impacted by the suspension of operations in Mexico from April 2, 2020, to June 1, 2020, pursuant to the Mexican presidential order to mitigate the spread of COVID-19.

COVID-19 update

Excellon continues to benefit from robust measures to prevent COVID-19 among the work force and local communities and to monitor the effectiveness of these measures in mitigating any potential impact on business activities. The company's actions have been successful to date and the pandemic has not had any material impact on production or shipment of concentrate. Vaccination programs are progressing well in Mexico, with over 99 per cent and over 80 per cent of the company's work force having received first and second vaccinations, respectively.

Qualified persons

Paul Keller, PEng, has acted as the qualified person, as defined in National Instrument 43-101, with respect to the disclosure of the scientific and technical information relating to production results 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.

We seek Safe Harbor.

© 2021 Canjex Publishing Ltd. All rights reserved.