Excellon Resources (TSX: EXN) (NYSE American: EXN) (FRA: E4X2) has shared an overview of its operations. The update includes information regarding EXN’s Platosa project as well as other upcoming exploration plans; the company stated that additional updates would be forthcoming. The company noted that last year the Platosa mine and the Miguel Auza mill produced four quarters of stable production at record rates, with final numbers for 2021 expected in the next few weeks. In addition, the company has identified strategic exploration plans for each of its projects — Platosa, Evolución, Kilgore and Silver City — in 2022; Excellon is also evaluating other corporate development opportunities and alternatives, such as acquisitions, divestitures, mergers or spin-offs of the company’s or third parties’ assets. “We have made great progress at Platosa over the past 16 years, professionalizing the mining operation, improving health and safety to industry standards, growing mineral resources and overcoming Platosa’s particular dewatering challenges,” said Excellon Resources president and CEO Brendan Cahill in the press release. “We have continued to aggressively drill to expand and define the mineral resource in recent years, but we are entering an area of the deposit that steepens significantly, with fewer vertical-tonnes-per-metre than historically encountered. The last two years have seen an increase in the challenges we face in Mexico , particularly the impact on dewatering rates of the suspension of industries in Q2 2020 and the polar vortex in February 2021 , along with increased consumable prices and certain legislative changes. We continue to explore from underground and surface and refine the operation, but we are now assessing the economic viability of mining at Platosa beyond mid-2022.”
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About Excellon Resources Inc.
Excellon Resources has a vision to create wealth by realizing strategic opportunities through discipline and innovation for the benefit of its employees, communities and shareholders. The company is advancing a precious metals growth pipeline that includes the following: Platosa, Mexico’s highest-grade silver mine since production commenced in 2005; Kilgore, a high-quality gold development 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. For more information about the company, please visit www.ExcellonResources.com.
NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://nnw.fm/EXN
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