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TORONTO, ON--(Marketwired - September 06, 2017) - Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (OTC: EXLLF) ("Excellon" or the "Company") is pleased to announce results from its ongoing surface and underground exploration program at the Platosa Mine in Durango, Mexico.
Highlights
Further definition of connector and expansion zone between the high-grade 623 and Guadalupe South mantos, with diamond drilling results including:
1,203 g/t Ag, 9.3% Pb and 13.4% Zn or 2,255 g/t silver equivalent ("AgEq") over 11.1 metres in EX17UG330, including 2,079 g/t Ag, 14.2% Pb, 23.9% Zn or 3,857 g/t AgEq over 5.2 metres
1,366 g/t Ag, 7.9% Pb and 13.6% Zn or 2,369 g/t AgEq over 3.2 metres in EX17UG328
2,291 g/t Ag, 15.0% Pb and 13.3% Zn or 3,570 g/t AgEq over 3.6 metres in EX17UG329
Mineralization discovered near existing mine workings and accessible before the end of 2017
Greater than 1,000 g/t AgEq intersected in 8 of 11 holes over average core lengths of 5.7 metres, as further described below
"These remarkable results confirm our belief in Platosa's potential and our ability to use targeted exploration to add high-grade mineralization to the mine plan," stated Ben Pullinger, Vice-President, Geology. "We have delineated a sizeable new zone of mineralization near existing mine workings that connects and expands the high-grade 623 and Guadalupe South mantos and which may be accessed before the end of the year."
Exploration Results
Approximately 16,030 metres have been drilled in 139 holes from surface and underground in the ongoing program. Material intersections reported today are summarized below:
Hole ID Interval(1) Interval(2) Au Ag Pb Zn AgEq(3)
From To metres g/t g/t % % g/t
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
From-to intervals are measured from the drill collar, with drill holes marked UG or PH drilled from underground stations.
All intervals are reported as core length.
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 and surface drilling in the 623 and Guadalupe South connector/expansion zone completed in late 2016 and to-date in 2017 (see press releases dated October 27, 2016 and July 26, 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 0.57 662 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
EX14UG200 60.6 61.9 1.3 - 3,574 28.2 18.7 5,727
From-to intervals are measured from the drill collar, with drill holes marked UG or PH drilled from underground stations.
All intervals are reported as core length.
AgEq in EX16UG274 and PH16-13 assumes $17.50 Ag, $1,265 Au, $0.90 Pb and $1.01 Zn with 100% metallurgical recovery, with the remainder assuming $16.50 Ag, $1.00 Pb and $1.25 Zn with 100% metallurgical recovery.
These holes have successfully defined and infilled a 100 by 25 metre zone connecting and expanding the 623 Manto (M+I resources of 83,000 tonnes grading 1,866 g/t AgEq) and the Guadalupe South Manto, which is currently in production. These consistent high-grade, massive sulphide intersections average approximately four metres thick across the zone and range from five to six metres in the north, to approximately one metre on the southern edge. Significantly, this newly defined mineralization is near existing mine workings and may be accessed before the end of 2017.
Refer to the Company's updated corporate presentation at www.excellonresources.com for images associated with this press release.
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 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-lookin g 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 Compa ny'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.
For Further Information, Please Contact: Excellon Resources Inc. Brendan Cahill President & CEO or Nisha Hasan Director, Investor Relations (416) 364-1130 info@excellonresources.com www.excellonresources.com
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