Excellon expands Platosa (March 17, 2005)

Surface drilling by Excellon Resources (EXN-V) has cut a new zone of sulphide mineralization on the Platosa property in Durango, Mexico.

Dubbed NE-1, the new zone is situated 450 metres to the north along the projection of the structural trend that hosts the property’s known manto-style sulphide mineralization.

So far, the new zone is defined by three holes, including hole 114, which returned 0.52 metre of sphalerite-rich mineralization averaging 27% zinc and 1% lead, plus 19 grams silver per tonne, beginning at a depth of 219 metres. Some 10 metres to the northeast, hole 115 encountered 2 metres of galena and fluorite hosted by dolomite breccia; a 0.77-metre interval runs 88 grams silver and 2.8% lead at a depth of 224 metres. Hole 119, 10 metres to the north of hole 114, yielded a narrow interval of similar galena and fluorite mineralization; assay results are pending.

Excellon says the holes suggest a deepening and thickening of the mineralization; additional drilling is planned. The latest drilling targeted coincident natural source audio magneto telluric geophysical and biogeochemical anomalies.

Meanwhile, drilling on the N-1 manto discovered earlier this year encountered galena- and sphalerite-rich massive and brecciated sulphides. Hole 116 cut 1 metre grading 1,120 grams silver, 8.8% lead, and 15% zinc. Hole 117 returned a 0.6-metre interval of 506 grams silver, 6.1% lead, and 6.2% zinc.

Drilling on N-1 earlier this year was highlighted by hole 105, which returned 5.2 metres running 2,082 grams silver, 17.1% zinc, and 22% lead, beginning at a depth of 94.3 metres. The zone also returned up to 1.8 grams gold over 1 metre.

The N-1 manto sits about 85 metres northwest of the known resource at Platosa. At last count, indicated resources contained in six of Platosa’s mantos totalled 63,400 tonnes grading 2,346 grams silver per tonne (68.5 oz. per ton), plus 15.2% lead and 11.9% zinc.

Roscoe Postle Associates is currently working to incorporate the new resource into the mine plan at Platosa.

The latest round of drilling also included a single hole collared 25 metres to the northeast of manto 6 of the known resource. The hole returned only trace sulphides from the targeted induced polarization anomaly.

Mantos NE-1 and N-1 remain open in several directions. Excellon plans to test N-1 mostly from underground via the Platosa ramp. Since the beginning of September, Excellon has pushed its 4-by-4.5-metre main ramp some 611 metres from the portal. It is expected to reach mineralization in April. Underground exploration drilling will begin once ongoing construction of a ventilation raise wraps up.

Excellon has also begun a campaign of geologic mapping of the entire Sierra Bermejillo area. Some 15 line-km of geophysical surveying is also focussing on the covered flanks of the Platosa mine area and other more remote targets. Follow up drilling is planned.