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Excellon Resources Inc T.EXN

Alternate Symbol(s):  EXNRF

Excellon Resources Inc. is engaged in the acquisition of advanced development or producing assets. The Company is advancing a portfolio of gold, silver and base metals assets including Kilgore, an advanced gold exploration project in Idaho, and Silver City, a high-grade epithermal silver district in Saxony, Germany. The Kilgore project is a caldera-related epithermal gold deposit which covers over 6,788 hectares, located in Clark County, Southeastern Idaho. The Silver City Project is comprised of four mineral licenses totaling over 340 square kilometers (km2).


TSX:EXN - Post by User

Comment by Thales42on May 09, 2021 2:56pm
142 Views
Post# 33162245

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Dafuq

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:DafuqYou may be right and after one season of  explorationd Exn could come up with a number of  high grade hits. To begin with we are only talking about prospective deep drills as oposed to  marginal open pit reserves.  Exn will need many years of exploration before the company reaches the point of declaring UG zone to be economically vialable for mining.  And that is just the beginning.  North Gold was a Red Lake miner that develop their Red Lake, Ontario project to PFS.   The horror story  became when  Rubicon Minerals, the former name of North Gold, after building an underground mine, announced that company geologists  'miscalculated" mine reserves from 430,000 ozs of gold an the new reserves were found to contain only 100,000  au ozs.  So, realistically Exn needs not only to hit high grades ore, but it has to do it on continuous basis and to come up with at least 400,000 oz of gold to justify LOM and building the mine and the processing plant.  The lesson learnt from this mining disaster is to move slowly with the exploration so that the future reserve base after its conversion from resources is independently verified and validated.  If that were the case with Kilgore, then we are talking about late 2020s here.



    

 
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