Excellon Resources Inc. [EXN-TSX, NYSE American; E4X2-FSE] has released results from underground drilling at the 100%-owned Platosa mine in Durango, Mexico.
High-grade results from the 623, NE-1, NE-1S and Pierna mantos, with diamond drilling results from underground including include 3,043 g/t silver equivalent (AgEq) over 2.2 metres (2,160 g/t silver, 24.6% lead and 7.2% zinc) in drill hole EX21UG698. Hole EX21UG691 returned 764 g/t AgEq over 7.5 metres (648 g/t Ag, 2.6% Pb and 1.4% Zn).
Hole EX21UG733 returned 1,008 g/t AgEq over 3.4 metres (766 g/t Ag, 4.7% Pb and 3.5% Zn). Hole EX21UG709 returned 801 g/t AgEq over 3.4 metres (501 g/t Ag, 5.8% Pb and 4.4% Zn). Hole EX21UG706 returned 5,110 g/t AgEq over 0.5 metre (4,451 g/t Ag, 8.8% Pb, 12.2% Zn and 0.2 g/t Au). Hole EX21UG740 returned 903 g/t AgEq over 2.6 metres (523 g/t Ag, 3.5% Pb and 8.5% Zn).
Underground drilling continues to define and delineate mineralization to support mine planning. Follow-up drilling on vertical zone intersected in hole EX21UG690 (2,860 g/t AgEq over 7.5 metres) is under way with assays pending.
“Drilling at Platosa continues to define and extend high-grade mineralization ahead of production,” stated Jorge Ortega, vice-president, exploration. “We continue to focus on infill drilling to support planning for upcoming and future production, as well as testing the recently discovered high-grade zone – the 817 zone – below manto 623. We have now drilled an additional 20 holes on the 817 zone with assays pending. This zone appears to have a vertical orientation and has the potential to open up a more vertical dimension to the deposit.”
Drilling from underground continues to define and expand known mineralization ahead of production at the 623, NE-1, NE-1S and Pierna Mantos. Drilling at Platosa will continue to target areas ahead of production and test the extent of mineralization around mine workings.
Drilling to follow up on the hole EX21UG690, which intersected a wide high-grade interval that has a potential vertical orientation (see press release dated Oct. 5, 2021), is currently under way, with assay results pending.
Excellon 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.