Excellon Resources Inc (E4X2)
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Excellon Resources eyes Mallay restart pending Q4 drilling, updated resource estimate
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) has provided an update on its efforts to restart the past-producing Mallay silver-lead-zinc mine in Peru, along with reporting its third quarter financial results. Excellon highlighted the completion of Phase One rehabilitation at Mallay, which included more than 2,800 metres of underground access restoration across the 4090 and 4150 levels.
Excellon moves closer to restarting Peru's Mallay mine after rehabilitation work
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) is preparing for a possible restart of operations at its Mallay silver-lead-zinc mine in Peru after completing the first stage of rehabilitation work and beginning preparations for definition drilling. The company said more than 2,800 metres of mine access have been rehabilitated across the 4090 and 4150 levels, while dewatering below the 4090 level is underway to support additional drilling and operations restart planning.
Excellon Resources launches C$8M private placement to advance Mallay Mine
Excellon Resources Inc (TSX:EXN, OTCQB:EXNRF) has announced a brokered private placement of up to 40 million common shares at C$0.20 per share, targeting gross proceeds of up to C$8 million. The financing is being led by Red Cloud Securities and Velocity Trade Capital as co-lead agents and joint bookrunners.
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Excellon Resources Inc Profile
| Metals & Mining Industry | Materials Sector | Paul David Keller P. CEO | XDUS Exchange | CA30069C8016 ISIN |
| CA Country | 257 Employees | - Last Dividend | 10 Sep 2020 Last Split | - IPO Date |
Overview
Excellon Resources Inc. is a dynamic mining company with a focus on the acquisition, exploration, and development of precious and base metal properties across the United States, Germany, and Mexico. Founded in 1987, this Toronto-based corporation has developed a diverse portfolio that includes significant silver, lead, zinc, and gold deposits. Excellon Resources holds a 100% interest in three major projects: the Kilgore project in Idaho, United States; the Silver City project in Saxony, Germany; and the Evolución property in Durango and Zacatecas, Mexico. These projects showcase the company's commitment to exploiting valuable mineral resources while adhering to sustainable and responsible mining practices.
Products and Services
- Silver Exploration and Mining
Excellon Resources Inc. prioritizes silver as one of its primary products, given its extensive exploration and mining activities, particularly in the Silver City project in Germany and the Evolución property in Mexico. These locations are rich in silver deposits, allowing the company to leverage its expertise in silver extraction and processing to meet global demand.
- Lead and Zinc Mining
The company also focuses on the extraction and sale of lead and zinc, valuable base metals found in conjunction with its silver mining operations. Excellon's strategic approach to mining these metals involves leveraging the synergies between their extraction processes and markets, maximizing resource utilization and economic returns.
- Gold Exploration
Gold exploration is another integral component of Excellon's product portfolio. The company's investments in the Kilgore project in Idaho represent its commitment to expanding its gold exploration efforts. Through rigorous geological surveys and advanced exploration techniques, Excellon aims to uncover significant gold deposits, contributing to its diversification and growth in the precious metals sector.
- Base Metals
In addition to precious metals, Excellon Resources explores for base metals, which include commodities like copper and nickel, though these are not as prominently featured as silver, lead, zinc, and gold. This exploration is indicative of the company’s interest in diversifying its mining operations and tapping into various segments of the metals market.
