- Published: 04 November 2010
- Written by Editor
Excellon Announces New High-Grade Drill Hole Assays at Platosa
Excellon Resources Inc. (TSX:EXN) is pleased to announce assay results for 11 holes from recent Platosa diamond drilling. Three are from the NE Rodilla area, approximately 50 m northeast of the main known massive sulphides of the Rodilla Manto. Hole LP874 intersected 8.42 metres (m) of massive sulphides grading 818g/t (24 oz/T) Ag, 12.67% Pb, 15.22% Zn. Hole LP872 in the same area intersected 1.85 m grading 1,064 g/t (31oz/T) Ag, 13.54% Pb, 8.53% Zn. The new sulphides may be connected to Rodilla, or may represent a new body developed along a NW-SE-trending structure. The area remains open in several directions.
Three holes are from drilling designed to continue tracing and infilling the extension of the 6A/6B Manto. Hole LP863 intersected 0.91 m of high-grade massive sulphides assaying 1,243 g/t (36 oz/T) Ag, 6.06% Pb, 4.17% Zn.
This mineralization is readily accessible from the existing mine infrastructure. Drilling has extended the known massive sulphides in the 6A/6B Manto area 150 m northwest from the closest block included in the NI 43-101 Mineral Resource estimate dated October 31, 2009. At that point the sulphides appear to be cut off by an east-west-trending structure although a further extension may exist beyond the structure.
Two of the holes are from the N-1 Manto Ext. area. The N-1 Manto occurs above the water table and as then known was largely mined out in 2006. Hole LP849 intersected 1.43 m grading 1,606 g/t (47 oz/T) Ag, 3.15% Pb, 10.34% Zn, approximately 25 m from the end of 2006 stoping.
The other three holes are from the NE-1 Manto area and intersected from 0.20 to 3.97 m of high-grade sulphides.
The results from these 11 holes provide continued evidence of the discovery potential for important additional distal carbonate replacement deposit (CRD) resources in the immediate Platosa Mine area.
As reported in the press release dated November 2, 2010 the Company has laid out a series of drill holes to test 3D induced polarization (3D IP) chargeability anomalies outlined during the pilot survey carried out in the spring of 2010. Drilling of these targets will begin shortly.
"We are very encouraged to cut such significant massive sulphide intersections in several areas, particularly northeast of the Rodilla Manto. While we have now begun drill testing our exciting 3D IP anomalies we intend to return to these new massive sulphides after thoroughly assessing their significance and the possibility that we may have encountered a new manto in this area," said John Sullivan, Excellon's Vice-President of Exploration.
Assays for the 11 holes reported are shown in the table below and on the accompanying drill hole location map. All intervals are estimated true thicknesses. In addition to these 11 holes there have been another 19 holes drilled at Platosa since the exploration press release dated September 8, 2010. While none of these 19 intersected significant sulphides, the geological information obtained from them is extremely useful in guiding our exploration program.
Excellon's drill core samples are prepared and assayed by SGS Minerals Services (SGS) in Durango, Mexico. The lab is accredited to ISO/IEC 17025. The Company has a comprehensive QAQC program, supervised by an independent Qualified Person.
Qualified Persons
The Company's exploration programs are supervised by John Sullivan, Excellon's Vice-President of exploration, in consultation with Dr. Peter Megaw of IMDEX Inc.
Dr. Peter Megaw, PhD, CPG, and Mr. John Sullivan, BSc., PGeo., have acted as the Qualified Persons, as defined in National Instrument 43-101, for this disclosure.
Dr. Megaw has a PhD in geology and more than 30 years of relevant experience focused on exploring silver and gold systems in Mexico. He is a Certified Professional Geologist (CPG 10227) by the American Institute of Professional Geologists and an Arizona Registered Geologist (ARG 21613). Dr. Megaw is not independent of Excellon as he is a shareholder.
Mr. Sullivan is an economic geologist with over 35 years of experience in the mineral industry. Prior to joining Excellon in 2007 he was a senior geologist at a Toronto-based international geological and mining engineering consulting firm where he evaluated properties and prepared NI 43-101 reports on gold and base metal projects in Canada and internationally. In addition he has held senior positions with two large Canadian mining companies where he directed major exploration programs, managed field offices, and evaluated projects in Canada, Europe, Africa and Latin America. Mr. Sullivan is not independent of Excellon as he is an officer and holds common share purchase options.
Table: Platosa Sulphide Intersections and Assay Results
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Interval
width
(metres)
Interval Interval Estimated
DDH from to true Silver Silver Lead Zinc
Location No. (metres) (metres) thickness (g/t) (oz/T) (%) (%)
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NE Rodilla LP872 168.53 170.38 1.85 1,064 31.0 13.54 8.53
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LP873 178.98 179.53 0.55 981 28.6 10.50 21.40
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LP874 183.30 191.72 8.42 818 23.9 12.67 15.22
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6A/6B Mantos LP842 146.80 147.80 1.00 226 6.6 3.77 6.15
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LP861 103.67 105.97 2.30 39 1.1 0.61 5.32
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LP863 147.70 148.61 0.91 1,243 36.2 6.06 4.17
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N-1 Manto Ext. LP849 91.54 92.97 1.43 1,606 46.8 3.15 10.34
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LP850 94.88 98.08 3.20 415 12.1 0.23 0.09
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NE-1 Manto SE LP841 333.48 334.58 1.10 429 12.5 0.60 2.31
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NE-1 Manto SW LP838 218.48 218.68 0.20 866 25.3 7.47 3.95
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LP843 213.82 217.79 3.97 446 13.0 5.26 20.33
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To view Map 1: Location Map - Platosa Property, please click on the following link:
http://media3.marketwire.com/docs/platosa.pdf
To view Map 2: Platosa Mantos and Recent Drill Hole Locations, please click on the following link:
http://media3.marketwire.com/docs/plantosa.pdf
About Excellon
Excellon, a mineral resource company operating in Durango and Zacatecas States, Mexico, is committed to building value through production, expansion and discovery. Excellon is producing silver, lead and zinc from the high-grade manto Mineral Resource on its large Platosa Property, strategically located in the middle of the Mexican silver belt. Excellon's focus is on expanding its operating capacity and increasing its Mineral Resources at Platosa where an exploration program focused on diamond drilling and advanced geophysical techniques is ongoing. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system. The equally large Miguel Auza property hosts an Indicated and Inferred Mineral Resource and was the site of considerable historic mining for silver, (gold), lead and zinc. The exploration potential of Miguel Auza remains to be fully evaluated and an initial exploration program, the results of which remain to be fully evaluated, has recently been completed.
On behalf of
EXCELLON RESOURCES INC.
Peter Crossgrove, Chairman & Chief Executive Officer
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-looking 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 Company'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 January 15, 2010 NI 43-101-compliant technical report prepared by Scott Wilson 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.
SOURCE: Excellon Resources Inc.
Excellon Resources Inc. Morgan Knowles Director, Investor Relations (416) 364-1130 This email address is being protected from spambots. You need JavaScript enabled to view it. www.excellonresources.com
