Things are running smoothly again for Excellon Resources (EXN-T).
The water inflow that shut down its Platosa test mine in Mexico’s Durango state back on May 20th has been dealt with and ore deliveries have resumed to the Penoles’ Naica mill.
After the initial flooding of the mine Excellon was able to maintain shipments to Naica into the first week of June from stockpiles.
The mine returned to normal operations on June 19th after the region below the active mining area was fully dewatered.
The initial water inflow was triggered when the drilling of a larger ventilation raise hit an unexpected fault containing water. No miners were injured by the mishap.
By June 10th the company announced it had sealed the water inflow and installed a concrete safety barrier in the access drift to the raise. It says drill testing has verified the integrity of the plug in the raise and the barrier in the drift.
Toronto-based Excellon is producing silver, lead and zinc from high grade manto deposits on the Platosa property.
The project has an indicated resource of 396,000 tonnes grading 986 grams silver per tonne, 9% silver, and 10.1% zinc. Inferred resources stand at 72,700 tonnes grading 742 grams silver per tonne 9.1% lead and 9.7% zinc.
Excellon will be looking to add to its tonnage via an $11 million exploration program for 2008.
In Toronto on June 25, the company’s shares were flat at $1.17 on roughly 70,000 shares traded. Its shares have traded between 90 and $1.98 over the last 52-week period and it has roughly 159 million shares outstanding.
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