Excellon Continues to Drill High Grade Sulphides at Platosaadmin
Wednesday, August 6th 2008
Excellon Resources Inc. announces assay results for massive, semi-massive sulphide, and sulphide breccia intercepts from 28 recent holes in the Platosa Test-mine area. Twelve of these holes have cut significant new mineralization in the South Central Guadalupe Manto that is easily accessible from existing underground development. The best of these is Hole LP542, which cut 6.41 metres (m) of massive sulphides grading 1,192 g/t (35 oz/T) silver, 13.7% lead and 23.8% zinc. Hole LP565, 15 m away, cut 5.55 m of massive sulphides grading 856 g/t (25.0 oz/T) silver, 9.8% lead, 14.8% zinc.
An additional highlight is the NE Rodilla Manto, where eight holes have now intersected significant massive and semi-massive sulphides. The best of the eight intercepts reported is in LP533, which cut three closely-spaced sulphide zones grading 803 g/t (23.4 oz/T) silver, 7.2% lead, 5.2% zinc over 2.25 m; 161 g/t (4.7 oz/T) silver, 7.1% lead, 5.2% zinc over 1.45 m, and 729 g/t (21.3 oz/T) silver, 13.1% lead, 21.8% zinc over 1.00 m.
All of the above-noted intercepts represent sulphide mineralization not included within Excellon’s February 3, 2008 NI 43-101 compliant Mineral Resource. See the table and map below for detailed assay results. Visual results for 15 of these holes were reported on June 5, 2008. All reported intersections are estimated true thicknesses.
Orientation ground gravity surveys were completed in July over the test-mine and a portion of the Saltillera area. These complement induced polarization (IP) surveys completed in June. Final results for both surveys are pending.
“We are pleased that our drilling continues to outline high-grade sulphide mineralization beyond the limits of our NI 43-101 Mineral Resource estimate, especially since some of this mineralization is readily accessible through existing mining infrastructure” said Peter A. Crossgrove, Excellon’s chairman. “We are looking forward to fully incorporating the gravity and IP survey results into our ongoing drilling program to expand our high-grade manto resource, while aggressively seeking the large-tonnage, intrusion-related proximal style of mineralization that we believe remains to be discovered on the Company’s large property.”
An additional four holes drilled within the NI 43-101 Mineral Resource limits of the Northwest Guadalupe Manto are reported here (1000 Series). These holes were drilled in the course of controlling the water inflow that temporarily interrupted mining operations in late-May and early-June, but also serve to confirm continuity of mineralization in this area.
Thirty-three additional holes, most of which are shown but not numbered on the map, drilled in the test-mine area since the June 5, 2008 press release encountered trace sulphides within the favourable host limestone unit, but did not intersect significant mineralization.
Three drills remain active in the test-mine area and a fourth continues with the regional exploration program at Saltillera, approximately five kilometres to the west. Fifteen holes have been completed in the Saltillera area in calendar 2008. Promising geology and alteration continue to be intersected and a dedicated geological team has been created to manage all aspects of exploration in this area. The IP geophysical survey was completed at Saltillera in June and although a final report has not been received, preliminary results are now being incorporated into drill targeting.
Excellon, a mineral resource company operating in Durango State, Mexico, is committed to building value through production, expansion and discovery. The Company is producing silver, lead and zinc from high-grade manto deposits on its Platosa Property, strategically located in the middle of the Mexican silver belt. In fiscal 2008 and 2009, Excellon’s focus is on increasing its Mineral Resources through an aggressive $11-million exploration program, and expanding its operating capacity with the building of a mill at site. The Platosa Property, not fully explored, has several geological indicators of a large mineralized system.