TORONTO, Dec. 23, 2021 /CNW/ - Excellon Resources
Inc. (TSX:EXN) (NYSE:EXN) (FRA:E4X2) ("Excellon" or the
"Company") is pleased to announce the filing of an
independent technical report for the Silver City Project in Saxony
Germany, which has been prepared in accordance with National
Instrument 43-101 (the "Technical Report"). A copy of the technical
report is available on both SEDAR at www.sedar.com and the
Company's website at www.excellonresources.com.
Recommendations from the Technical Report
The author of the Technical Report, Mr. Michael J. Robertson, Pr.Sci.Nat (400005/92);
MAusIMM (316078), of the independent consulting firm The MSeA Group
(Pty) Ltd., has concluded that the Company's proposed exploration
program, outlined below, is appropriate for the Silver City
Project. The main components are:
- Step-out diamond drilling at Bräunsdorf to assess the extent
and nature of mineralization below workings of the historical
Neue Hoffnung Gottes Mine.
- Step-out diamond drilling at Grauer Wolf and Reichenbach to
confirm the continuity of the known mineralization along the strike
and towards depth.
- Step-out diamond drilling at Großvoigtsberg to confirm
continuity of the known mineralization along the strike and towards
depth, particularly in the areas where rich ore shoots were
documented during historical mining.
- Drill testing of magnetic lineaments and inferred geological
contacts near Grauer Wolf and Reichenbach.
- Drill testing of magnetic lineaments and inferred geological
contacts at Siegfried, which are interpreted to be an extension of
the Bräunsdorf mineralization towards southwest.
- Drill testing of magnetic lineaments and inferred geological
contacts at Obergruna where historical mapping indicates the
presence of mineralized veins.
- Fence drilling at Langhennersdorf to test soil anomalies.
- An airborne magnetic survey in selected areas to complement the
dataset that was obtained during the earlier surveys.
- Rock magnetic susceptibility study on available drill core for
all target areas and all encountered lithologies to support the
interpretation of available and future magnetic survey data.
- Soil sampling calibration study with lines crossing known
mineralization to test geochemical response.
- Archive work, digitizing and georeferencing historical mine
plans etc.
- Regional exploration work on the rest of the Project.
Qualified Person
Jorge Ortega, P.Geo., Vice
President Exploration, has acted as the Qualified Person, as
defined in NI 43-101, with respect to the disclosure of the
scientific and technical information contained in this press
release.
About Excellon
Excellon's vision is to create wealth by realizing strategic
opportunities through discipline and innovation for the benefit of
our employees, communities and shareholders. The Company is
advancing a precious metals growth pipeline that includes: Platosa,
Mexico's highest-grade silver mine
since production commenced in 2005; Kilgore, a high-quality advanced exploration
gold 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.
Additional details on Excellon's properties are available at
www.excellonresources.com.
Forward-Looking
Statements
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The Toronto Stock
Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this Press Release,
which has been prepared by management. This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act and Section 27E of the Exchange Act. Such statements
include, without limitation, statements regarding mineral resources
estimates, the future results of operations, performance and
achievements of the Company, including potential property
acquisitions, the timing, content, cost and results of proposed
work programs, the discovery and delineation of mineral
deposits/resources/reserves, geological interpretations, proposed
production rates, potential mineral recovery processes and rates,
business and financing plans, business trends and future operating
revenues. Although the Company believes that such statements are
reasonable, it can give no assurance that such expectations will
prove to be correct. Forward-looking statements are typically
identified by words such as: believe, expect, anticipate, intend,
estimate, postulate and similar expressions, or are those, which,
by their nature, refer to future events. The Company cautions
investors that any forward-looking statements by the Company are
not guarantees of future results or performance, and that actual
results may differ materially from those in forward looking
statements as a result of various factors, including, but not
limited to, variations in the nature, quality and quantity of any
mineral deposits that may be located, significant downward
variations in the market price of any minerals produced, the
Company's inability to obtain any necessary permits, consents or
authorizations required for its activities, to produce minerals
from its properties successfully or profitably, to continue its
projected growth, to raise the necessary capita l or to be fully
able to implement its business strategies. All of the Company's
public disclosure filings may be accessed via www.sedar.com and
readers are urged to review these materials. This press release is
not, and is not to be construed in any way as, an offer to buy or
sell securities in the United States.
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Cautionary Note
to U.S. Investors: The terms "mineral resource,"
"measured mineral resource," "indicated mineral resource" and
"inferred mineral resource," as used on Excellon's website and in
its press releases are Canadian mining terms that are defined in
accordance with National Instrument 43-101 – Standards of
Disclosure for Mineral Projects ("NI 43-101"). These Canadian terms
are not defined terms under United States Securities and Exchange
Commission ("SEC") Industry Guide 7 and are normally not permitted
to be used in reports and registration statements filed with the
SEC by U.S. registered companies. The SEC permits U.S.
companies, in their filings with the SEC, to disclose only those
mineral deposits that a company can economically and legally
extract or produce. Accordingly, note that information
describing the Company's "mineral resources" is not directly
comparable to information made public by U.S. companies subject to
reporting requirements under U.S. securities laws. U.S. investors
are urged to consider closely the disclosure in the Company's Form
40-F which may be secured from the Company, or online
at http://www.sec.gov/edgar.shtml.
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SOURCE Excellon Resources Inc.