Excellon drills 8.4 m of 818 g/t Ag at Platosa
2010-11-04 13:04 ET - News Release
Mr. John Sullivan reports
EXCELLON ANNOUNCES NEW HIGH-GRADE DRILL HOLE ASSAYS AT PLATOSA
Excellon Resources Inc. has released assay results for 11 holes from recent Platosa diamond drilling. Three are from the NE Rodilla area, approximately 50 metres northeast of the main known massive sulphides of the Rodilla Manto. Hole LP874 intersected 8.42 metres of massive sulphides grading 818 grams per tonne silver, 12.67 per cent lead and 15.22 per cent zinc. Hole LP872 in the same area intersected 1.85 m grading 1,064 g/t Ag, 13.54 per cent Pb and 8.53 per cent Zn. The new sulphides may be connected to Rodilla or may represent a new body developed along a northwest-southeast-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 Ag, 6.06 per cent Pb and 4.17 per cent 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 Oct. 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 Ag, 3.15 per cent Pb and 10.34 per cent 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 Stockwatch on Nov. 2, 2010, the company has laid out a series of drill holes to test 3-D induced-polarization 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 3-D 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.
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 in Stockwatch dated Sept. 8, 2010. While none of these 19 intersected significant sulphides, the geological information obtained from them is extremely useful in guiding the company's 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 QA/QC program, supervised by an independent qualified person.
Qualified persons
The company's exploration programs are supervised by Mr. Sullivan, in consultation with Dr. Peter Megaw of IMDEX Inc.
Dr. Megaw, PhD, CPG, and Mr. 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 CPG (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.
PLATOSA SULPHIDE INTERSECTIONS AND ASSAY RESULTS
Interval
width
(metres)
Interval Interval estimated
DDH from to true Silver Silver Lead Zinc
Location No. (metres) (metres) thickness (g/t) (oz/ton) (%) (%)
NE Rodilla LP872 168.53 170.38 1.85 1,064 31.0 13.54 8.53
LP873 178.98 179.53 0.55 981 28.6 10.50 21.40
LP874 183.30 191.72 8.42 818 23.9 12.67 15.22
6A/6B mantos LP842 146.80 147.80 1.00 226 6.6 3.77 6.15
LP861 103.67 105.97 2.30 39 1.1 0.61 5.32
LP863 147.70 148.61 0.91 1,243 36.2 6.06 4.17
N-1 Manto ext. LP849 91.54 92.97 1.43 1,606 46.8 3.15 10.34
LP850 94.88 98.08 3.20 415 12.1 0.23 0.09
NE-1 Manto SE LP841 333.48 334.58 1.10 429 12.5 0.60 2.31
NE-1 Manto SW LP838 218.48 218.68 0.20 866 25.3 7.47 3.95
LP843 213.82 217.79 3.97 446 13.0 5.26 20.33
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