Jul 21, 2021
 in 
Precious Metals

Q2 Moves: Excellon Resources (NYSE/TSX: EXN) Produces 487,009 ounces of Silver Equivalent

Excellon Resources Inc. (NYSE/TSX: EXN) has released Q2 2021 production results from the Platosa mine in Durango, Mexico.

Q2 2021 Silver equivalent ("AgEq") production of 487,009 oz (Q2 2020 - 34,924 AgEq oz), including:

  • Silver production of 296,013 oz (Q2 2020 - 18,919 oz)
  • Lead production of 1.9 million lb (Q2 2020 - 0.1 million lb)
  • Zinc production of 2.5 million lb (Q2 2020 - 0.2 million lb)

Fourth consecutive quarter of over 21,000 tonnes mined and milled, with record tonnes mined (86,316) and milled (88,648) over trailing twelve months

"Platosa delivered a fourth consecutive quarter of production at historically high productivity rates," stated Brendan Cahill, President & CEO. "We continue to see room for improvement, with our ongoing work to improve recoveries at Miguel Auza and, additionally, a sizeable inventory of ore and concentrate at quarter-end due to mill maintenance and weather conditions in late June."

Strong and consistent production continued in Q2 2021 with continued focus on improving maintenance practices at both sites and enhancing the geological and engineering teams at Platosa. Head grades were lower in Q2 2021 compared to Q2 2020 due to higher mining dilution in narrower sections of the ore body. The Miguel Auza plant continues to focus on improving metal recoveries. Zinc recoveries improved relative to Q1 2021 following plant upgrades in the zinc flotation circuit. More generally, metal recoveries were impacted by weather conditions, power outages and metallurgical variances. The combination of mill maintenance in early June and weather conditions in late June resulted in sizeable stockpiles of ore (1,634 tonnes) and concentrate (154 tonnes of lead and 134 tonnes of zinc) at quarter-end, which were processed and/or delivered in early July.

Comparative results for the three- and six-month periods ended June 30, 2020 were impacted by the suspension of operations in Mexico from April 2, 2020 to June 1, 2020 in response to the outbreak of COVID-19.

The Company expects to file Q2 2021 financial results after close of market on July 29, 2021.

COVID-19 Update

Excellon (NYSE/TSX: EXN) continues to benefit from robust measures to prevent COVID-19 among the workforce and local communities and to monitor the effectiveness of these measures in mitigating any potential impact on business activities. The Company's actions have been successful to date and the pandemic has not had any material impact on production or shipment of concentrate. Vaccination programs are progressing in Mexico.

Disclaimer: Excellon Resources is a paid marketing client*
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