Business
Excellon Resources Announces Q1 2020 Production Results
TORONTO, April 30, 2020 /CNW/ - Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1) ("Excellon" or the "Company") is pleased to announce first qua
About this update from Excellon Resources Inc.
[{"type":"text","content":" TORONTO, April 30, 2020 /CNW/ - Excellon Resources Inc. (TSX:EXN, EXN.WT, OTC:EXLLF and FRA:E4X1) (\"Excellon\" or the \"Company\") is pleased to announce first quarter 2020 production results from the Platosa Mine in Durango, Mexico. Q1 2020 Production (compared to Q1 2019) Silver equivalent (\"AgEq\") production of 523,742 oz (Q1 2019 – 522,261 AgEq oz) Silver production increased 14% to 296,281 oz (Q1 2019 – 260,445 oz) Lead production increased 37% to 1.9 million lb (Q1 2019 – 1.4 million lb) Zinc production decreased 4% to 2.1 million lb (Q1 2019 – 2.2 million lb) \"We had a strong start to the year with production improving from previous quarters,\" stated Brendan Cahill, President and CEO. \"Silver and lead production, in particular, were significantly higher than recent quarters. Unfortunately, our base metal production contributed fewer silver equivalent ounces due to current prices. During the ongoing suspension of operations mandated by the government of Mexico, we are implementing a number of business improvement initiatives including preparing for the switch to a private electrical energy provider, reviewing maintenance programs, designing an underground communications system to optimize the dewatering system and implementation of a new ERP system. We expect these initiatives will drive further cost efficiencies on the restart of operations.\" Production Results Q1 2020* Q1 2019* Tonnes Mined from Platosa 19,899 19,496 Ore processed (t) 19,042 16,769 Historical stockpile processed (t) - 1,450 Platosa ore processed (t) 19,042 18,219 Ore grades Silver (g/t) 542 534 Lead (%) 5.44 5.01 Zinc (%) 6.78 8.00 Historical stockpile grades Silver (g/t) - 123 Lead (%) - 1.22 Zinc (%) - 1.44 Blended head grades Silver (g/t) - 502 Lead (%) - 4.71 Zinc (%) - 7.48 Recoveries Silver (%) 89.3 89.7 Lead (%) 82.8 74.6 Zinc (%) 74.9 78.1 Metal Production* Silver (oz) 296,281 260,445 Lead (lb) 1,890,456 1,376,423 Zinc (lb) 2,131,034 2,209,624 AgEq (oz)** 523,742 522,261 Average Realized Prices Silver $15.04 $15.45 Lead $0.79 $0.92 Zinc $0.90 $1.26 San Sebastián ore processed (t) 4,785 - * Subject to adjustment following settlement with concentrate purchaser, 2019 tonnes mined in DMT. ** AgEq ounces established using average realized metal prices during the period indicated applied to the recovered metal content...