TORONTO, Feb. 22, 2018 /CNW/ - Excellon Resources Inc.
(TSX:EXN, EXN.WT, EXN.WT.A; OTC:EXLLF) ("Excellon" or
the "Company") is pleased to announce results from its
ongoing underground exploration program at the Platosa Mine in
Durango, Mexico.
Highlights
- Further definition and expansion of the high-grade 623
manto, with diamond drilling results including:
-
- 1,192 g/t Ag, 13.2% Pb and 18.3% Zn or 2,648
g/t silver equivalent ("AgEq") over 9.1 metres in EX17UG371,
including 1,473 g/t Ag, 14.8% Pb and 25.6% Zn or 3,355
AgEq over 6.2 metres
- 1,397 g/t Ag, 7.4% Pb and 23.2% Zn or 2,858 g/t AgEq over
7.3 metres in EX18UG375
- 1,528 g/t Ag, 13.5% Pb and 16.9% Zn or 2,926 g/t AgEq over
3.1 metres in EX17UG369
- Mineralization discovered in area 674 near existing mine
workings that may be accessed during 2018
"Drilling underground continues to define high quality
mineralization around the current mantos," stated Ben Pullinger, Vice-President, Geology.
"Identifying near-term mineable mineralization remains a priority
for the underground diamond drill rig, as we work towards
defining structural controls that may lead to further discoveries
of manto and feeder-style mineralization."
Exploration Results
The following table shows highlighted intervals from the current
definition and infill program being conducted from underground at
Platosa:
Hole
ID
|
Interval(1)
|
Interval(2)
|
Ag
|
Pb
|
Zn
|
AgEq(3)
|
Area
|
From
|
To
|
meters
|
g/t
|
%
|
%
|
g/t
|
EX17UG347
|
76.5
|
81.5
|
5.1
|
858
|
8.8
|
9.7
|
1,705
|
674
|
EX17UG348
|
20.3
|
27.8
|
7.6
|
299
|
3.7
|
4.0
|
646
|
623-Rodilla
|
EX17UG358
|
63.0
|
67.6
|
4.6
|
739
|
4.1
|
1.1
|
962
|
623
|
EX17UG359
|
71.0
|
73.0
|
2.0
|
521
|
3.3
|
0.2
|
670
|
623
|
EX17UG361
|
94.8
|
96.6
|
1.9
|
161
|
3.4
|
0.3
|
317
|
623
|
EX17UG365
|
55.6
|
58.9
|
3.3
|
208
|
2.9
|
4.0
|
526
|
623
|
EX17UG366
|
45.6
|
47.2
|
1.5
|
221
|
2.1
|
0.2
|
322
|
623
|
EX17UG367
|
65.4
|
68.2
|
2.8
|
536
|
4.9
|
9.0
|
1,188
|
623
|
EX17UG369
|
105.4
|
108.5
|
3.1
|
1,528
|
13.5
|
16.9
|
2,926
|
623
|
EX17UG370
|
123.8
|
126.2
|
2.5
|
639
|
7.3
|
2.7
|
1,076
|
623
|
EX17UG370A
|
123.0
|
124.8
|
1.8
|
1,132
|
7.9
|
2.9
|
1,609
|
623
|
EX17UG371
|
63.9
|
72.9
|
9.1
|
1,192
|
13.2
|
18.3
|
2,648
|
623
|
including
|
66.7
|
72.9
|
6.2
|
1,473
|
14.8
|
25.6
|
3,355
|
|
EX18UG373
|
49.9
|
51.3
|
1.4
|
3,125
|
27.1
|
3.0
|
4,402
|
623
|
EX18UG375
|
72.4
|
79.7
|
7.3
|
1,397
|
7.4
|
23.2
|
2,858
|
623
|
|
(1)
|
From-to intervals
are measured from the drill collar, with drill holes marked UG or
PH
drilled from underground stations.
|
|
(2)
|
All intervals are
reported as core length.
|
|
(3)
|
AgEq in drill
results assumes $17.00 Ag, $1.03 Pb and $1.23 Zn with 100%
metallurgical
recovery.
|
The results announced today complement underground drilling in
the 623 and Guadalupe South
connector/expansion zone completed earlier in 2017 and late 2016
(see press releases dated October 27,
2016, July 26, 2017 and
September 6, 2017), with previously
announced results from the zone including:
Hole
ID
|
Interval(1)
|
Interval(2)
|
Au
|
Ag
|
Pb
|
Zn
|
AgEq(3)
|
From
|
To
|
meters
|
g/t
|
g/t
|
%
|
%
|
g/t
|
EX16UG274
|
23.0
|
36.0
|
13.0
|
0.6
|
662
|
4.9
|
25.5
|
1,886
|
PH16-13
|
7.2
|
9.9
|
2.8
|
-
|
773
|
11.8
|
6.3
|
1,438
|
EX17UG310
|
7.8
|
11.3
|
3.5
|
-
|
124
|
5.2
|
5.2
|
616
|
EX17UG323
|
20.8
|
27.5
|
6.8
|
-
|
886
|
8.8
|
20.5
|
2,318
|
EX17UG324
|
73.8
|
75.3
|
1.5
|
-
|
2,965
|
16.4
|
0.9
|
3,702
|
and
|
78.6
|
79.7
|
1.1
|
-
|
1,171
|
9.3
|
2.9
|
1,713
|
EX17UG325
|
87.8
|
91.5
|
3.7
|
-
|
1,600
|
6.4
|
8.7
|
2,319
|
EX17UG326
|
90.9
|
92.7
|
1.8
|
-
|
316
|
3.2
|
0.9
|
496
|
and
|
97.7
|
99.0
|
1.3
|
-
|
287
|
6.3
|
0.6
|
584
|
EX17UG328
|
16.1
|
19.3
|
3.2
|
-
|
1,366
|
7.9
|
13.6
|
2,369
|
EX17UG329
|
22.1
|
25.6
|
3.6
|
-
|
2,291
|
15.0
|
13.3
|
3,570
|
EX17UG330
|
15.9
|
27.1
|
11.1
|
0.1
|
1,204
|
9.3
|
13.4
|
2,255
|
including
|
18.9
|
24.1
|
5.2
|
0.2
|
2,079
|
14.2
|
23.9
|
3,857
|
EX17UG332
|
27.4
|
30.0
|
2.6
|
-
|
864
|
5.0
|
6.9
|
1,415
|
EX17UG333
|
17.3
|
22.9
|
5.6
|
-
|
521
|
5.0
|
8.6
|
1,155
|
EX17UG335
|
25.9
|
33.0
|
7.1
|
-
|
278
|
2.6
|
11.5
|
957
|
EX17UG336
|
22.0
|
30.0
|
8.0
|
-
|
612
|
9.4
|
4.6
|
1,232
|
EX17UG338
|
19.9
|
25.9
|
6.0
|
0.3
|
644
|
5.8
|
13.0
|
1,528
|
and
|
29.2
|
33.5
|
4.3
|
0.1
|
233
|
2.5
|
4.7
|
570
|
(1)
|
From-to intervals
are measured from the drill collar, with drill holes marked
UG or PH drilled from underground stations.
|
(2)
|
All intervals are
reported as core length.
|
(3)
|
AgEq in EX16UG274
and PH16-13 assumes $17.50 Ag, $1,265 Au, $0.90 Pb
and $1.01 Zn, EX17UG310 to 326 assumes $16.50 Ag, $1.00 Pb and
$1.25 Zn
and EX17UG328 to 338 assumes $17.00 Ag, $1.03 Pb and $1.23 Zn, all
with
100% metallurgical recovery.
|
Drilling underground has focused on the definition of the 623
Manto and has now moved to a newly prepared drill bay to focus on
expansion drilling of the Pierna and Rodilla Mantos. Additional
drilling in these areas will test the down dip and strike length
continuity of the Rodilla and Pierna mantos along a structural
feature where the two mantos are offset. The Company aims to
delineate additional tonnes in this location, similar to the
drilling program around the 623 Manto. The Company is currently
producing from the 623, Pierna, Rodilla and Guadalupe South
Mantos.
Drilling in 674 also identified additional mineralization above
the water table in an area accessible from existing workings. The
Company is evaluating this area for near-term production.
The Company also expects to release an updated mineral resource
estimate for Platosa in the coming months. The updated resource
estimate will include drilling completed up to December 31, 2017.
Platosa drill core samples are prepared and assayed by SGS
Minerals Services in Durango,
Mexico. The lab is accredited to ISO/IEC 17025. The Company
has a comprehensive QA/QC program, supervised by an independent
Qualified Person.
Surface Exploration Update
Surface drilling continues with a drill rig currently testing
targets in the same target horizon that hosts the Platosa Mine
within the north-south trending Platosa corridor. The Company
intends to continue testing priority targets within this corridor
while continuing to define new targets at Jaboncillo, PDN, Saltillera North and South
and San Gilberto through its ongoing fieldwork program.
Qualified Person
Mr. Ben Pullinger, P. Geo,
Vice-President Geology, 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 exploration
results contained in this press release.
About Excellon
Excellon's 100%-owned Platosa Mine in Durango has been
Mexico's highest-grade silver mine
since production commenced in 2005. The Company is focused on
optimizing the Platosa Mine's cost and production profile,
discovering further high-grade silver and CRD mineralization on the
Platosa Project and capitalizing on the opportunity in current
market conditions to acquire undervalued projects in Latin America.
Additional details on the La Platosa Mine and the rest of
Excellon's exploration 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
[particularly silver], 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 July 9, 2015 NI 43-101-compliant technical report
prepared by Roscoe Postle Associates 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.