Excellon presents the 2021 Silver City drilling program



TORONTO, June 8, 2021 / CNW / – Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (NYSE: EXN) (FRA: E4X2) (“Excellon” or the “Company”) is pleased to announce the approval of permits for the drilling operation plan at the Silver City project in Saxony, Germany and to define the 2021 drilling plans.

Highlights of the 2021 drilling program

  • Initial 12,000 meter diamond drilling program starting shortly four priority targets – Grauer Wolf, Reichenbach, Bräunsdorf and Peter Vein – monitoring of high grade silver mineralization encountered in the 2020 program

  • Priority drilling also planned at Munzig, where anomalous mineralization was encountered in several areas during the 2020 drilling

  • Program also designed to test new targets over more than 30 kilometers of direction on two confirmed contacts, the mafic-shale contact identified in 2020 at Reichenbach and Grauer Wolf representing a potentially more favorable setting for epithermal silver mineralization

“Our 2020 drill program confirmed the presence of a major epithermal system, encountered high-grade silver species, and delivered high-grade assays, including new discoveries at Grauer Wolf and Reichenbach,” said Ben pullinger, SVP Geology & Business Development. “We reached these milestones with only 16 holes over 24 kilometers of direction. This year’s program will build on the modeling and integration of these results to expand our discoveries in 2020 and make new ones in 2021. ”

Highlights of the 2020 drilling program include:

  • 1,042 g / t AgEq over 0.45 meters (911 g / t Ag, 0.4 g / t Au, 2.8% Pb and 0.9% Zn), in the 231 g / t AgEq over 2.30 meters (183 g / t Ag, 0.4 g / t, Au 0.5% Pb and 0.2% Zn) in initial drilling on the Peter vein;

  • 505 g / t AgEq over 0.71 meter (356 g / t Ag, 2.0 g / t Au), in the 191 g / t AgEq (134 g / t Ag and 0.8 g / t Au) in the first hole at Reichenbach (Großvoigtsberg), a new near-surface discovery in an area with minimal historical mining;

  • 319 g / t AgEq over 0.35 meter (300 g / t Ag, 0.2 g / t Au and 0.2% Zn), in the 101 g / t AgEq (87 g / t Ag, 0.2 g / t Au) at Bräunsdorf;

  • 1,043 g / t AgEq over 1.3 meters (954 g / t Ag, 0.1 g / t Au, 0.7% Pb and 2.0% Zn) within 100 meters of the surface, within 194 g / t AgEq over 8.1 meters (173 g / t Ag, 0.1 g / t, Au, 0.4% Pb and 0.3% Zn), and 331 g / t AgEq over 1.2 meters (325 g / t Ag, 0.1 g / t Au, 0.03% Pb and 0.03% Zn) in the Grauer Wolf Hanging Wall, a new high-grade discovery in a historic no-drill zone.

Drilling on the Munzig target in late 2020 encountered two zones of mineralization within 75 meters of surface (including 2.43 meters grading 116 g / t AgEq over 70 meters and 1.60 meters grading 143 g / t AgEq over 77 meters in SC20MUN015) separated by a mineralized -digue, potentially aligning with historical records describing some of the widest widths of the Bräunsdorf region.

Including the Munzig target, mineralization has now been encountered over 24 kilometers of direction. The table below summarizes the targets and associated mineralization on the zones tested in 2020.

Target

Target
Type

Holes
Perforated

Descriptions of mineralization

Bräunsdorf

Immersion extension of historic sites

AGBR0120

Large shear zone with chloritic and seritic alteration containing multiple quartz-carbonate veins and local hydrothermal breccia zones. Silver is transported by silver sulfosalts, freibergite-tetrahedrite and is closely associated with sphalerite.

Reichenbach

Surface and geophysical sampling

AGBR1020

A discovery, with three zones of intersected mineralization, comprising brittle basalt altered to sericite with brittle fractures filled with quartz-carbonate and local zones of matrix and clastic supported hydrothermal breccias. Silver and gold are hosted in quartz-carbonate veins with grades up to 2.0 g / t Au and 350 g / t Ag.

Pierre Veine

Extension strike of historic sites

AGBR0520 AGBR05A20 AGBR05B20

All holes intersected a large shear zone with strong seritic, graphitic and chloritic alteration. The zone contains several local veins of sheared quartz and carbonate with grades up to 911 g / t Ag, 0.4 g / t Au, 2.8% Pb and 0.9% Zn. Multiple grains of native silver, pyrargyrite, fribergite and other silver species have been identified.

Wolf Grauer

Surface and geophysical sampling

SC20GWO013

SC20GWO012

The two holes intersected a large shear zone hosted by volcaniclastic and mafic units with strong sericite alteration, multiple sheared carbonate veinlets and a quartz-carbonate vein over one meter wide containing multiple sphalerite bubbles. , with grades up to 987 g / t Ag, 0.5% lead and 0.7% zinc.

Munzig

Surface sampling, geophysics and monitoring of historical works

SC20MUN015

SC20MUN016

A large shear zone within a mica schist with intense and local seritic alteration in hematite, multiple sheared veins of smoky quartz-carbonate containing mineralization with grades up to 306 g / t Ag, 0.12 g / t Au, 9.48% Pb and 2.13% Zn.

Fortuna A

Soil geochemistry – conceptual

AGBR0220

AGBR02A20

AGBR0720

All drill holes intersected a strongly sheared zone with ubiquitous sericite and local intermittent zones of biotite alteration, with local minor quartz and carbonate veins. All the zones showed anomalous values ​​of base metals and precious metals with grades up to 0.68 g / t Au and 47 g / t Ag

Siegfried

Geophysics, strike extension of historic sites

SC20SIF014

Five meter wide shear zone with chlorite and seritic alteration containing multiple quartz-carbonate veins and local areas of hydrothermal breccia.

The 2020 program totaled 3,700 meters of drilling and intersected significant alteration and / or mineralization at seven of the nine targets. In addition to the drilling planned for 2021, field work, including mapping, prospecting and geophysical surveys, should be completed on Bräunsdorf and the newly acquired Oederan, Mohon and Frauenstein licenses. These programs aim to extend and define new drilling targets until 2022.

Silver City Drilling (CNW Group / Excellon Resources Inc.)

The Silver City project was mined for high-grade silver from the 11e until the end of the 19the century, when Germany left the silver standard in 1873 and the gold / silver ratio collapsed. Project records indicate high grade silver production over substantial widths throughout the district. Excellon embarked on the first modern exploration program focused on precious metals.

Excellon has an option to acquire a 100% stake in the Silver City project from Globex Mining Enterprises Inc. (TSX: GMX; OTCQX: GLBXF; and FRA: G1MN).

Qualified person

Mr. Ben pullinger, P.Geo., Senior Vice President of Geology and Business Development, acted as a Qualified Person, as defined in NI 43-101, with respect to the disclosure of 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 advances a precious metals growth pipeline that includes: Platosa, from Mexico higher grade silver mine since production began in 2005; Kilgore, a high-quality gold development project in Idaho with a strong economy 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 to capitalize on current market conditions by acquiring undervalued projects.

Further details on the properties of Excellon can be found at www.excellonresources.com.

Forward-looking statements

The Toronto Stock Exchange has not reviewed and accepts no responsibility for the adequacy or accuracy of the contents 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. These statements include, without limitation, statements regarding mineral resource estimates, future operating results, performance and achievements of the Company, including potential property acquisitions, timing, content, cost and results of proposed work programs, discovery and delineation of deposits / resources / reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and revenue from future operations. While the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements are generally 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 the Company’s forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those of forward-looking statements due to various factors, including, but not limited to y limit, variations in the nature, quality and quantity of any mineral deposit that can be located, significant downward variations in the market price of any mineral produced, the Company’s inability to obtain permits, consents or authorizations necessary for its activities, to produce minerals from it successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company’s public information documents can be viewed via www.sedar.com and readers are urged to consult these documents. This press release is not and should not be construed as an offer to buy or sell any securities in the United States.

Logo of Excellon Resources inc.  (CNW Group / Excellon Resources inc.)

Logo of Excellon Resources inc. (CNW Group / Excellon Resources inc.)

SOURCE Excellon Resources Inc.

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