Excellon expands Platosa (March 28, 2005)

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

Dubbed NE-1, the new zone is 450 metres north of the structural trend that hosts manto-style sulphide mineralization.

So far, three holes have defined the new zone, including hole 114, which returned a 0.52-metre interval 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 graded 88 grams silver and 2.8% lead at a depth of 224 metres. Hole 119, 10 metres 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, and hole 117 returned a 0.6-metre section 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 of 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 is 85 metres northwest of Platosa’s known resource. At last count, Platosa’s six mantos contained an indicated resource of 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 incorporating the new resource into the mine plan at Platosa.

The latest drilling included a hole 25 metres northeast of manto 6 of the known resource. The hole returned only trace sulphides from the induced-polarization anomaly that was targeted.

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 extended its 4-by-4.5-metre main ramp 611 metres from the portal, and is expected to reach mineralization in April. Underground exploration drilling will begin once a ventilation raise is constructed.

Excellon is carrying out geologic mapping of the entire Sierra Bermejillo area, as well as geophysical surveys on the covered flanks of the Platosa mine area. More drilling will follow.