Excellon Resources Inc. (TSX:EXN) (EXN.WT) (EXN.WT.A) (OTC:EXLLF) is pleased to announce additional results from its ongoing underground exploration program at the Platosa Mine in Durango, Mexico, which continues to identify near-term mineable mineralization with the aim of growing Platosa mineral resources.
“As with our previously announced results, drilling underground continues to increase our confidence in the resources and expand our footprint at Platosa,” stated Ben Pullinger, Senior Vice-President Geology. “Definition drilling ahead of current mine workings allows for continued de-risking of future production allowing for better visibility on planning. In particular, the widths intersected in the Pierna Manto are better than expected or predicted in the current resource model.”
The following table shows highlighted intervals form the current definition and expansion program being conducted from underground at Platosa:
|(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 from the 623, Rodilla and Pierna mantos complement underground drilling in the 623 and Guadalupe South connector/expansion zone completed in 2017, 2018 and late 2016 (see press releases dated October 27, 2016, July 26, 2017, September 6, 2017 and February 22, 2018).
Drilling underground is focused on defining the open area between the Pierna and Rodilla Mantos and better defining the extension to depth of all mantos ahead of future production. The Company is currently producing from the 623, Pierna and Rodilla mantos.
The Company is in the process of finalizing an updated mineral resource estimate and technical report, which will incorporate drilling completed up to December 31, 2017. Finalizing the resource has taken longer than originally anticipated as optimizations to the resource model and mine plan were identified and are being incorporated. The updated resource estimate is currently expected to be released prior to the end of Q2 2018.
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 at Platosa with two drill rigs 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 and San Gilberto through its ongoing fieldwork program.
The Company is also currently completing an induced polarization (IP) survey on key targets at the Miguel Auza Property ahead of upcoming drilling late in Q2 or early in Q3 2018.
Mr. Ben Pullinger, P. Geo, Senior 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.
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.
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