Excellon delivers Durango high grade

The latest batch of ten holes from Excellon Resources (EXN-V, EXLLF-O) Platosa project includes what the company believes may be the best ever intersection pulled from the silver-lead-zinc property in Mexico’s Durango state.

Hole no. 288 cut 20 metres of mineralization, including nearly 10 metres of solid massive sulphides flanked by sulphide-rich breccia and variably mineralized limestone. The intersection is situated around 30 metres north of the northern limit of the Guadalupe manto discovered late last year.

Another hole, around 15 metres closer to Guadalupe cut 15 metes of similar mineralization, including 4 metres of solid massive sulphides. Excellon notes that previous nearby drilling (within Guadalupe) cut 9.5 metres of 1,718 grams silver per tonne plus 15.2 % lead, and 11.6% zinc, including 3 metres solid massive sulphides.

Excellon says the holes appear to define a northwest trend of thickening mineralization away from the Guadalupe manto. Assay results are pending for both holes, and drilling continues along the trend.

Meanwhile, assay results are in for four holes on each of the on the Guadalupe and Guadalupe South mantos.

Drilling on the Guadalupe manto is highlighted by a 1.2-metre section of massive and brecciated sulphides running 1,035 grams silver, 7.5% lead and 4.4% zinc, including a 0.45-metre section of 2.763 grams silver, 20.5% lead and 12.3%zinc. Two other holes cut similar mineralization with 1.6 metres grading 775 grams silver, 8.6% lead and 9.8% zinc, and 2.9 metres of 814 grams silver, 3.6% lead and 3.2% zinc.

The final hole on Guadalupe yielded a 0.55-metre interval of black sulphide sands averaging 4,818 grams silver and 0.02% each of lead and zinc.

The Guadalupe South manto yielded a 6-metre section of massive and brecciated sulphides running 1,245 grams silver, 11.5% lead and 31.5 % zinc. A 0.83-metre interval of massive sulphides contains 2,235 grams silver, 11.8%lead and 7.2% lead.

Assays results for another 7 holes on Guadalupe and 4 holes on Guadalupe South are pending. Results are also outstanding for two holes sunk 17 km south of the Platosa mine at the Cerros San Gilberto target. Pitting there returned samples exceeding 500 grams silver. Regional geophysical surveying suggest the targets may be linked to the Platosa system.

“We are very encouraged by the thickness trend emerging from the recent Guadalupe manto intersections since regional experience shows that mantos typically thicken and get larger towards their source,” said Excellon’s chairman Richard Brissenden in a prepared statement.

Brissenden says Guadalupe is already larger than mantos 4, 5, and 6, upon which test mining has already been initiated.

Shares in Excellon ended 14, or nearly 15%, at $1.08 in Toronto following the news on Aug. 28.