RE: A little strength!Just got on to the email list. However was wondering whether the information you recieved last night was different than the below NR. If it is I'm not sure why it wouldn't have been communicated via NR so the entire market has access.
---------------------------------------------------------------------
2004-11-10 14:28 ET - News Release
Mr. A. Douglas MacKenzie reports
EXCELLON ANNOUNCES PLATOSA DRILLING RESULTS AND PROJECT PROGRESS REPORT
Excellon Resources Inc. has released a progress report with ramping, drilling and exploration results from its 100-per-cent-owned Platosa mine area within its 14,692-hectare (35,000-acre) Platosa/Saltierra property in Durango, Mexico.
As of Tuesday, Nov. 9, 2004, the four-by-4.5-metre Platosa ramp, which commenced on Sept. 1, 2004, had advanced 244 metres from the portal. The ramp is expected to reach ore at approximately 750 metres down-ramp, which should occur in late February, 2005, if the current rate of progress continues. Underground exploration drilling from the ramp is expected to begin at approximately 375 metres depth, with the drilling to be done from oversized remuck bays. Underground drilling cannot begin until the ramp has advanced 50 metres to 70 metres past the first drill station so that the remuck bay is freed for drilling. It is expected that this will occur before year-end.
Excellon has also been carrying out an aggressive surface drilling program, including (to date) 13 condemnation holes around the ramp and projected workings, five exploration holes to the northwest of the No. 5 and No. 6 mantos, and six exploration holes from atop Platosa Ridge seeking the southwestern extension of the Platosa manto zone. A further three holes (86 to 88) were drilled in the known mantos to obtain additional samples for continuing metallurgical testing. Results from selected holes (see table 1 below), coupled with previously announced results, indicate lateral extensions of known orebodies have been found and may also indicate the discovery of entirely new mineralized bodies. Once additional offset drilling has been completed, the existing indicated resource calculated by Roscoe Postle Associates Inc., independent geological and mining consultants (RPA), in their report of Sept. 26, 2002, will be re-evaluated to determine how to incorporate this new mineralization into the mine plan contained in the RPA report of Dec. 10, 2003 (both reports are available at www.sedar.com). Readers are cautioned that mineral resources that are not classified as mineral reserves do not have demonstrated economic viability.
Table 1 -- Selected drill hole results
Hole From To Rec. Ag
(m) (m) (%) (ppm)
EX04-LP75 71.07 72.46 65 736
EX04-LP77 51.50 52.00 100 <1
EX04-LP81 108.75 110.30 95 370
EX04-LP84* 103.45 108.45 93 361
including** 103.45 105.90 90 507
Hole From To Ag Pb Zn
(m) (m) (ounces (%) (%)
per ton)
EX04-LP75 71.07 72.46 23.7 5.1 28.0
EX04-LP77 51.50 52.00 0.0 0.0 0.2
EX04-LP81 108.75 110.30 11.9 1.1 0.2
EX04-LP84* 103.45 108.45 11.6 5.8 3.9
including** 103.45 105.90 16.3 11.0 7.0
Previously calculated average grades
Hole Ag Ag Pb Zn
(ppm) (ounces (%) (%)
per ton)
4A manto 766 22 5.7 7.8
5A manto 3,912 114 22.3 6.5
6A manto 1,664 49 10.4 10.4
* Hole 84 is the last hole for which
assays have been received
** Includes 0.02 gram per tonne to
0.76 gram per tonne gold and 0.02 per
cent to 0.53 per cent copper.
Assaying and check-assaying are being performed by ALS Chemex Laboratories of Vancouver, B.C., and BSI Inspectorate of Reno, Nev. Results are consistent between the two laboratories. Drilling has been done by Major Drilling of Mexico with excellent recoveries. A drill hole plan and certain cross-sections are available on the company's website at www.excellonresources.com or by request.
The 13-hole condemnation drilling program (holes 68 to 80) was primarily designed to determine ground conditions around the ramp and stopes of the Platosa mine, but all holes were continued to the projected depth of the principal manto zone. All holes were successful in reaching target depths. Several hit mineralization ranging from minable width and grade to trace, with associated strong dolomitization of the style seen around the known mantos. The recent offsets are significantly larger (20 metres to 45 metres) than the 10-metre to 15-metre offset historically taken on the property and all holes must penetrate three metres to 15 metres of soil cover before reaching bedrock.
Hole 75, drilled 23 metres off the southeastern flank of the 4A manto, cut what appears to be the 1.4-metre-thick extension of this orebody. The grades are comparable in silver and lead, but the zinc is much higher (see table 1 above).
Hole 77 was a condemnation hole drilled roughly 45 metres north of the No. 5 manto. This hole hit trace mineralization at the No. 5 manto horizon (103 metres) but, more importantly, hit 0.5 metre of sulphide-bearing laminated cavern fill sands at 51.5 metres depth. This sand contains visible sphalerite grains, which are confirmed by the strongly anomalous zinc values (see above). This material occurs 50 metres higher in the stratigraphy than the known manto host unit, indicating that it is derived from mineralization deposited in a totally separate host unit. "Stacked mantos" are common aspects of major carbonate replacement deposits (CRDs) in Mexico and elsewhere. They tend to coalesce in the source direction and tracing them becomes a first-order exploration tool.
Holes 81 to 85 were exploration holes drilled seeking a combination of this upper-sulphide body and continuations of mineralization in the known manto host bed. No significant additional examples of the higher mineralization have been found yet. However, hole 81 hit significant mineralization in the known host unit at 108 metres to 110 metres depth. Hole 84 lies more than 25 metres to the east of hole 81 and more than 65 metres from the known northern limits of the No. 5 and No. 6 mantos. It may have cut the continuation of the No. 6 manto as it lies along the projection of the northwest-trending structure that controls the No. 6 manto and contains celestite and distinctive fluorescent fluorite like hole 67 on the northwest extreme end of the No. 6 manto. However, there are significant differences in grade between the No. 6 manto and the hole 84 intercept, suggesting that hole 84 may have cut a separate and new manto. Drilling of hole 95 to trace the continuation of this mineralization is currently under way.
Holes 89 to 94 were exploration holes drilled from atop Platosa Ridge, some 500 metres to the southeast of the historic Platosa mine, seeking the southwest continuation of the Platosa manto trend. These holes offset 1999 drill hole LP-27 (which cut four grams per tonne Ag, 0.1 per cent Pb and 0.2 per cent Zn in strongly dolomitized limestone) by 25 metres to 300 metres. These holes cut very strong dolomitization, with sparse visible sulphides in some holes. Assays are pending for all these holes. Drill roads built during this effort revealed outcrops of postmineral faults with significant lateral offset, indicating that more than direct projection of the Platosa manto trend is needed to find the potential mineralization to the southwest. Detailed mapping and sampling of the area are planned prior to further drilling, and will begin once the thick vegetation that grew in response to an exceptionally wet rainy season dies back from the onset of cool weather.
Drilling will continue to test offsets of known mineralization, areas indicated by the phase II biogeochemical survey and IP, gravity and NSAMT (natural source audio magneto telluric) geophysical surveys in progress or slated to begin soon, and areas indicated by initial geological mapping around the Platosa mine. Structural analysis of high-resolution orthophotos flown last spring revealed that a major structural intersection lies just north of the known mineralized area, and biogeochemical and soil sampling in the adjoining valley have identified several strong coherent silver, lead, copper and arsenic anomalies believed to be related to this intersection. Geologic mapping of the area is under way to refine targets for near-term drilling.
The continuing exploration program is designed and supervised by A.D. MacKenzie, PEng, Excellon's president, and Dr. Peter Megaw, the company's consulting geologist and exploration manager of its Mexican subsidiary.
Qualified person and quality assurance and control
Dr. Megaw, PhD, CPG, has acted as the qualified person as defined in National Instrument 43-101 for this disclosure and supervised the preparation of the technical information on which this release is based. Dr. Megaw has a PhD in geology and more than 20 years of relevant experience focused on silver and gold mineralization, and exploration and drilling in Mexico. He is a certified professional geologist (CPG 10227) by the American Institute of Professional Geologists and a registered geologist in Arizona (ARG 21613). Dr. Megaw is not independent of Excellon as he is a shareholder and his company receives a finder's fee with respect to the Platosa/Saltierra property.