Toronto, Ontario – October 19, 2021 – Excellon Resources Inc. (TSX:EXN; NYSE:EXN; and FRA:E4X2) ("Excellon" or the “Company") is pleased to announce Q3 2021 production results from the Platosa Mine in Durango, Mexico.
Q3 2021 Production (compared to Q3 2020)
- Silver equivalent (“AgEq”) production of 521,160 oz (Q3 2020 – 524,312 AgEq oz), including:
- Silver production of 326,706 oz (Q3 2020 – 326,909 oz)
- Lead production of 1.9 million lb (Q3 2020 – 2.2 million lb)
- Zinc production of 2.0 million lb (Q3 2020 – 2.7 million lb)
- Fifth consecutive quarter of over 21,000 tonnes mined and milled and strongest nine-months of silver production since 2014
“We have had another solid quarter of production from Platosa at the higher productivity rates that we have realized since Q3 2020,” stated Brendan Cahill, President and CEO. “We realized good improvements in mill recoveries late in Q3, which we continue to see as Q4 processing has commenced.”
“As importantly, our team in Mexico has committed to achieving full vaccination, with over 99% now partially vaccinated and over 80% fully vaccinated. Like all, we have faced challenges over the past 18 months and I’m humbled by our team’s dedication to each other’s wellness and drive to always put health and safety first.”
Production Results
| | Q3 2021 | Q3 2020 | 9-mos 2021 | 9-mos 2020 |
| Tonnes Mined | 21,592 | 21,877 | 64,576 | 45,046 |
| Tonnes Milled | 21,302 | 22,612 | 64,712 | 42,941 |
| Ore grades |
| Silver (g/t) | 526 | 483 | 513 | 510 |
| Lead (%) | 4.89 | 5.26 | 5.13 | 5.34 |
| Zinc (%) | 5.38 | 6.81 | 6.20 | 6.80 |
| Recoveries |
| Silver (%) | 90.9 | 93.0 | 89.2 | 91.4 |
| Lead (%) | 81.2 | 85.0 | 80.5 | 84.0 |
| Zinc (%) | 78.3 | 80.9 | 77.5 | 78.3 |
| Metal Production(1) |
| Silver (oz) | 326,706 | 326,909 | 951,466 | 642,109 |
| Lead (lb) | 1,868,018 | 2,227,511 | 5,894,807 | 4,247,172 |
| Zinc (lb) | 1,977,593 | 2,746,328 | 6,846,188 | 5,036,098 |
| AgEq (oz)(2) | 521,160 | 524,312 | 1,527,287 | 1,082,978 |
| Average Realized Prices |
| Silver (US$/oz) | 24.11 | 24.82 | 25.71 | 20.18 |
| Lead (US$/lb) | 1.07 | 0.84 | 0.99 | 0.80 |
| Zinc (US$/lb) | 1.36 | 1.10 | 1.31 | 0.99 |
- Subject to adjustment following settlement with concentrate purchaser.
- AgEq ounces established using average realized metal prices during the period indicated applied to the recovered metal content of concentrates.
Consistent metal production continued in Q3 2021, with higher silver head grades and lower lead and zinc grades in Q3 2021 compared to Q3 2020. Recoveries were lower in Q3 2021 compared to the comparative period but were higher than in preceding quarters in 2021. Modifications to the operating scheme of the flotation circuit in September brought recoveries back in line with Q3 2020 performance for silver and lead, with zinc recoveries improving to above 80%. Seasonal weather conditions in late September resulted in higher ore and unsold concentrate inventories at quarter end, which were processed and/or delivered in early October.
Comparative results for the nine-month period ended September 30, 2020 were impacted by the suspension of operations in Mexico from April 2, 2020 to June 1, 2020 pursuant to the Mexican presidential order to mitigate the spread of COVID-19.