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Excellon Resources Begins Drilling at Silver City Project in Saxony, Germany
TORONTO, July 9, 2020 /CNW/ - Excellon Resources Inc. (TSX:EXN) (TSX: EXN.WT) (OTC:EXLLF) and (FRA:E4X1) ("Excellon" or the "Company") is pleased to announce th
About this update from Excellon Resources Inc.
[{"type":"text","content":" TORONTO, July 9, 2020 /CNW/ - Excellon Resources Inc. (TSX:EXN) (TSX: EXN.WT) (OTC:EXLLF) and (FRA:E4X1) (\"Excellon\" or the \"Company\") is pleased to announce that an initial 15-hole diamond drilling program has commenced on the 164 km2 Silver City Project in Saxony, Germany. \"We are targeting significant widths of high-grade silver in an epithermal silver district that was mined for over 750 years, but has never seen modern day exploration for precious metals,\" stated Ben Pullinger, SVP Geology. \"Our initial program utilizes a multi-disciplinary approach to demonstrate that the historically prolific Freiberg silver district remains exceptionally prospective. This milestone has been achieved through collaboration with our partners and stakeholders and we are grateful for their support.\" The Silver City Project was mined for high-grade silver from the 11th until the late 19th century, when Germany left the silver standard in 1873 and the gold:silver ratio collapsed. Records from the project indicate high-grade silver production over substantial widths throughout the district. Excellon is embarking on the first modern day exploration program focussed on precious metals. Excellon has entered a research and development agreement with the Helmholtz Institute Freiberg (\"HIF\") to provide HIF with data and drill core samples from the Silver City Project through which HIF can test exploration technologies in real time, including hyperspectral analysis of drill core. The Company additionally has various collaborations with the Mineral Systems Analysis Group of the TU Bergakademie Freiberg (the Freiberg University) to develop further analyses of the project. Excellon holds an option to acquire a 100% interest in the Silver City Project from Globex Mining Enterprises Inc. (TSX: GMX) (OTCQX: GLBXF) and (FRA: G1MN). Annual Meeting of Shareholders In response to the unprecedented public health impact of COVID-19 and to mitigate risks to the health and safety of its shareholders, employees and local communities, the Company will hold its annual meeting of shareholders (the \"Meeting\") on August 13, 2020. The Company is relying on the exemption provided in the Ontario Instrument 51-504 – Temporary Exemptions from Certain Requirements to File or Send Securityholder Materials and similar exemptions granted by th...