Excellon Resources Inc. (CNW Group/Excellon Resources Inc.) TORONTO, Aug. 27, 2019 /CNW/ -
Excellon Resources Inc. (TSX:EXN) ("Excellon" or the "Company") is pleased to announce that it has closed its previously announced bought deal public offering of 10,925,000 units (collectively, the "Units"), including 1,425,000 Units issued upon full exercise of the over-allotment option,
Excellon’s 100%-owned Platosa Mine has been Mexico’s highest-grade silver mine -
La Platosa is one of the highest-grade silver mines in Mexico and is 100% owned by Excellon Resources Inc. Initially acquired in 1996, the property now encompasses 20,947 ha in the State of Durango, north-central Mexico.
The Platosa mine is an underground operation accessed by ramp. Most of the mining at Platosa has occurred from flat-lying massive sulphide bodies (mantos) and has been carried out using a modified room and pillar method.
Ore produced from the mine is crushed on site and transported 200 km south for processing at the Miguel Auza mill located in the State of Zacatecas.
The Company is currently implementing an optimization plan to double production and halve costs by improving water management at Platosa through the implementation of a dedicated dewatering system.
The optimization program aims to maintain and deepen a localized “cone of depression” in the water table below mine workings, ultimately resulting in completely dry mining conditions at Platosa. Under dry mining conditions, the Company expects to achieve materially higher rates of production at materially lower costs relative to current and historical production at Platosa.
Excellon Resources: Profitable Silver Production & Exploring Huge Upside Potential Interview With President & CEO Brendan Cahill
GOLD is Father GOD'S Money! by Robert Kiyosaki says -
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Silver Mining $EXN " Oakley is a low sulphidation, epithermal gold project with the potential for Carlin-style mineralization at depth, a similar setting to Liberty Gold's Black Pine Project, 70 kilometres due east," stated Ben Pullinger , SVP Geology & Corporate Development. "Over the past year, we have been advancing the project with Centerra, collaboratively developing high quality targets as they earn into their option on the project. The current drill program promises to test a number of these targets over the coming months and complements our strong 2021 exploration pipeline."
The Cold Creek claims cover approximately 14 km 2 , including a structurally complex north to south valley with bounding faults that has created at least three prospective geologic zones along the western and eastern margins. The current drill program will test targets within these zones, as follows: Eastern Margin
A historically undrilled area of receptive units with gold in soil anomalies above shallow bedrock. Targets were generated by surface geochemistry and induced polarization surveys.
Bound Block
This area is bound by large structures on the east and west and has demonstrated surface and subsurface gold mineralization. Reverse circulation ("RC") drilling from the late 1980's returned anomalous grades that have not been followed up on. More recent work delivered anomalous gold in soil and rock samples, with basin wide resistivity and chargeability anomalies. The program is designed to test geophysical anomalies and follow-up on identified gold occurrences at surface.
Western Margin
A historically underexplored area of structural complexity with hydrothermal material at surface. RC drilling from the late 1980's intersected 18.3 metres grading 0.46 g/t gold from surface. More recent work has identified gold in soil anomalies corresponding with a chargeability anomaly from IP surveying. https://www.barchart.com/story/news/1769936/excellon-commences-drilling-at-oakley-project
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