Excellon Announces Resumption of Exploration Drilling
TORONTO, ONTARIO, Jul 13 (MARKET WIRE) --
Excellon Resources Inc. (TSX: EXN) is pleased to announce that
exploration diamond drilling has resumed at the Platosa Property. Two
rigs are in operation, both of which are initially located in the NE-1
Manto area where hole EX08LP-614, one of the last drilled before the
suspension of drilling in late October 2008 intersected 1,065 g/t silver,
14.6% lead and 6.2% zinc over an estimated true thickness of 7.6 meters.
During the extended suspension of exploration drilling the exploration
team remained intact and carried out surface mapping, re-logging of drill
core and compilation and reinterpretation of geochemical, geophysical and
geological data. This work has led to the generation of new targets in
the general Platosa Mine area, where the targets are both additional
distal, high-grade manto style Carbonate Replacement Deposit (CRD)
mineralization and proximal large-tonnage CRD mineralization, the source
of the manto mineralization being exploited at present. Drilling carried
out in late 2008 provided evidence that the NE-1 Manto may be part of a
feeder system that will lead to the proximal source. Five kilometers to
the west in the Saltillera-La Zorra area, where the potential to discover
a large-tonnage proximal CRD also remains high, new targets have also
been generated.
A ground gravity survey carried out during 2008 has shown that the mantos
being exploited at present have a recognizable gravity response and
similar responses are associated with certain of the new targets
generated during the suspension period. These will be tested during the
present drilling program.
John Sullivan, Vice-President Exploration commented "We are extremely
pleased to have been able to resume the drilling program on our
high-grade Platosa Property. Excellon is excited by the potential to
better define and expand our high-quality Mineral Resource by continuing
the drilling program in an area that has already provided excellent
results. We also look forward to drill testing the newly developed
targets, particularly those with an associated gravity response."
The technical information in this press release regarding the company's
mineral projects has been prepared under the supervision of Mr. John
Sullivan, BSc., PGeo., a Qualified Person, for the purposes of National
Instrument 43-101. Mr. Sullivan is senior officer of Excellon.
About Excellon
Excellon, a mineral resource company operating in Durango and Zacatecas
States, Mexico, is committed to building value through production,
expansion and discovery. Excellon is producing silver, lead and zinc from
the high-grade manto Indicated Mineral Resource on its large Platosa
Property, strategically located in the middle of the Mexican silver belt.
In calendar 2009, Excellon's focus is on expanding its operating capacity
and increasing its Mineral Resources at Platosa through an aggressive
exploration program. The Platosa Property, not fully explored, has
several geological indicators of a large mineralized system. The equally
large Miguel Auza property hosts a Probable Mineral Reserve, was the site
of considerable historic mining for silver, (gold), lead and zinc and
more recently was exploited by Silver Eagle during 2008. The exploration
potential of Miguel Auza remains to be fully evaluated.
On behalf of
EXCELLON RESOURCES INC.
"Peter Crossgrove", Chairman
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 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, the proposed construction of a mill, 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 (particularly silver), 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
capital 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, including the technical
reports filed with respect to the Company's mineral properties, and
particularly the April 14, 2008 NI 43-101-compliant technical report
prepared by Scott Wilson Roscoe Postle Associates Inc. with respect to
the Platosa property. 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.
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.
Contacts:
Excellon Resources Inc.
Morgan Knowles
Manager, Investor Relations
(416) 364-1130
(416) 364-6745 (FAX)
mknowles@excellonresources.com
www.excellonresources.com
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