Business
Excellon Resources Delivers Strong August Production and Resumes Surface Exploration at Platosa
TORONTO, Sept. 18, 2020 /CNW/ - Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (OTC: EXLLD) (FRA: E4X2) ("Excellon" or the "Company") is pleased to provide Au
About this update from Excellon Resources Inc.
[{"type":"text","content":" TORONTO, Sept. 18, 2020 /CNW/ - Excellon Resources Inc. (TSX: EXN) (TSX: EXN.WT) (OTC: EXLLD) (FRA: E4X2) (\"Excellon\" or the \"Company\") is pleased to provide August production results following its successful restart of operations in mid-June 2020. \"We continued to realize strong production in August, delivering record monthly tonnage from both the mine and mill,\" stated Brendan Cahill, President & CEO. \"Changes to mine shift scheduling and mining method continued to deliver improved productivity and lower costs and we expect to transition to a lower cost energy supplier in early Q4. Electricity remains the largest cost centre at Platosa and the best opportunity to reduce cost further.\" August 2020 Production Results Production in Dry Metric Tonnes (DMT) August 2020 Tonnes Mined from Platosa 7,635 Tonnes Processed 8,477 Ore Grades Silver (g/t) 451 Lead (%) 4.95 Zinc (%) 6.76 Recoveries Silver (%) 86.8 Lead (%) 78.8 Zinc (%) 78.9 Metal Production* Silver (oz) 106,662 Lead (lb) 729,081 Zinc (lb) 997,157 AgEq (oz)* 169,473 Average August 2020 Commodity Prices Silver ($) 26.89 Lead ($) 0.88 Zinc ($) 1.09 * Subject to final settlement prices and assays with concentrate purchaser/AgEq ounces calculated using average August 2020 metal prices The operation realized ordinary-course variations in metal grade during August. Recoveries were lower than planned as additional process optimizations were implemented, but recoveries have returned to plan in September. Realized cost reductions at Platosa include reductions to the workforce and renegotiation of treatment charges on concentrate. Pending cost reductions include the transition to a new energy supplier, upgrades to underground communications and various processing optimizations to better control reagent and consumables usage. The Company expects Platosa to deliver positive cashflow at current metal prices, particularly with these realized and pending cost reductions. Surface Drilling Resumes at Platosa Mine and Nearby Targets The Company has recommenced underground and surface drilling at the Platosa Mine and broader Platosa Property, respectively. Underground exploration is focused on expanding and further defining known mineralization. Surface exploration is focused on near mine targets around the Platosa deposit and the Jaboncillo and PD...