Excellon Resources Inc. (TSX: EXN) (NYSE: EXN) (FRA: E4X2) is pleased to announce Q3 2021 production results from the Platosa Mine in Durango, Mexico.
Q3 2021 Production (compared to Q3 2020)
“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 CEO. “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% now partially vaccinated and over 80% 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.”
|Q3 2021||Q3 2020||9-mos 2021||9-mos 2020|
|Average Realized Prices|
|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 to Q3 2020. Recoveries were lower in Q3 2021 compared to 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%. 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 September 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.
Excellon continues to benefit from robust measures to prevent COVID-19 among the workforce 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% and over 80% of the Company’s workforce having received first and second vaccinations, respectively.
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.
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 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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We acknowledge the [financial] support of the Government of Canada.