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Excellon Delivers Strong Q4 2020 Silver Production

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Excellon Resources Inc. (TSX:EXN, EXN.WT) (NYSE:EXN) (FRA:E4X2)  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 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

Posted January 14, 2021

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