Click here to close now.

SYS-CON MEDIA Authors: Blue Box Blog, Carmen Gonzalez, Lori MacVittie, Plutora Blog, Roger Strukhoff

News Feed Item

Excellon produces 2.1 million silver equivalent ounces in 2013

TORONTO, Jan. 16, 2014 /CNW/ - Excellon Resources Inc. (TSX:EXN) (OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce fourth quarter and annual 2013 production results from the La Platosa Mine in Durango, Mexico.

Q4 and 2013 Production Highlights

  • 2.1 million silver equivalent ounces ("Ag Eq Oz") produced during 2013 (Q4 - 545,000 Ag Eq Oz), including:
    • 1.4 million oz Ag (Q4 - 411,000 oz Ag)
    • 7.3 million lb Pb (Q4 - 1.7 million lb Pb)
    • 9.9 million lb Zn (Q4 - 1.9 million lb Zn)
  • Record annual produced and milled tonnage of ~70,000 tonnes, including record quarterly produced tonnes of ~20,000 tonnes in Q4

"During the latter half of 2013 we began to see the results of our continuing efforts to improve and optimize La Platosa production," stated Brendan Cahill, President and Chief Executive Officer. "Of particular note, during the last two quarters of the year we milled almost 38,000 tonnes of ore grading 812 g/t silver for 866,000 silver ounces, demonstrating the potential to increase tonnage while maintaining an industry leading grade and cost profile."

"Our teams at La Platosa and Miguel Auza deserve great credit for the significant improvements in production that were realized in the second half of the year.  We aim to continue increasing our production profile and reducing costs into 2014, while further enhancing the foundation of our business - the health and safety of our workers."

Q4 and 2013 Production Results

  Q4 2013 Q4 2012 2013 2012
Tonnes Mined 20,481 11,139 70,490 46,495
Tonnes Milled 21,186 11,452 69,862 48,199
Grades:        
Silver (g/t) 684 751 718 846
Silver (oz/T) 19.96 21.89 20.94 24.67
Lead (%) 5.27 6.59 6.14 6.75
Zinc (%) 5.08 11.21 8.00 11.81
Recoveries:        
Silver (%) 89.9 94.4 92.6 93.4
Lead (%) 71.2 85.7 79.4 82.1
Zinc (%) 75.8 83.7 80.2 84.8
Metal Production:        
Silver (oz) 411,277 251,065 1,409,852 1,081,165
Lead (lb) 1,720,303 1,393,067 7,342,108 5,731,160
Zinc (lb) 1,857,066 2,387,785 9,876,955 10,450,813
Ag Eq (oz) 545,428 360,831 2,055,567 1,550,964

Subject to adjustment following settlement with concentrate purchaser.
Silver equivalent ounces established using prices of US$24 per oz Ag, US$0.90 per lb Pb, and US$0.90 per lb Zn
applied to the recovered metal content of the concentrates. 


Production of over 1.4 million ounces of silver was the Company's highest annual production at La Platosa since 2009.  The Company realized a significant improvement in tonnes per day ("tpd") of production during the latter half of the year from ~175 tpd during Q1/Q2 to ~210 tpd in Q3/Q4 (including 223 tpd in Q4) as the benefits of underground development work during the first half of the year were realized and the Company began identifying further operational efficiencies and improving water management.  Production of 2.1 million Aq Eq Oz during the year was in line with the Company's revised target (announced September 17, 2013) and silver grades were generally in line with budget (718 g/t Ag versus 728 g/t Ag budgeted).

Ore production during the fourth quarter was primarily from the 5A, 6A and Guadalupe North mantos. Tonnes milled represented a 27% increase on the previous quarter for a total of 21,186 tonnes. Grades were in line with estimates for the La Platosa resources mined during the period. As in the third quarter, recoveries were slightly lower due to (i) significant remnant grouting from historical water management measures in certain areas mined, (ii) oxide mineralization in the 5A manto, and (iii) similar lead and zinc grades affecting the mill's differential separation of each metal.  Silver recoveries improved in the latter part of the quarter to approximately 92%.

Outlook

The Platosa operation is working to incrementally increase daily production throughout 2014, with an initial target of 210 tpd, a 9% increase over 2013.  This target will be assessed and adjusted by management on an ongoing basis as the Company continues to focus on improving and strengthening operational efficiencies at the mine site, including further enhancing grouting techniques and water management. The Miguel Auza mill had approximately 55% spare capacity during 2013, leaving significant availability for increased tonnage.

The Company is currently targeting production of approximately 1.5 million ounces of silver or 2.2 million Ag Eq oz (at US$24 per oz Ag, US$0.90 per lb Pb, and US$0.90 per lb Zn).  Net cash costs and all-in costs per Ag Eq Oz for 2013 and forecast for 2014 will be provided in the Company's 2013 annual financial results, scheduled for release prior to market open on March 26, 2014.

In light of the tragic accident that occurred on January 9, 2014, the Company continues to review and enhance safety protocols and training at the La Platosa mine, with a particular focus on improved safety awareness amongst all of its employees and management.

About Excellon

Excellon's 100%-owned La Platosa Mine in Durango is Mexico's highest grade silver mine, with lead and zinc by-products making it one of the lowest cash cost silver mines in the country.  The Company is positioning itself to capitalize on undervalued projects by focusing on increasing La Platosa's profitable silver production and near-term mineable resources.

Additional details on the La Platosa Mine and the rest of Excellon's exploration properties are available at www.excellonresources.com.

Forward-Looking Statements

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced [particularly silver], the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties, and particularly the November 22, 2011 NI 43-101-compliant technical report prepared by Roscoe Postle Associates Inc. with respect to the Platosa Property. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States. 

 

SOURCE Excellon Resources Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
Chuck Piluso will present a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. Speaker Bio: Prior to Data Storage Corporation (DSC), Mr. Piluso founded North American Telecommunication Corporation, a facilities-based Competitive Local Exchange Carrier licensed by the Public Service Commission in 10 states, serving as the company's chairman and president from 1997 to 2000. Between 1990 and 1997, Mr. Piluso served as chairman & founder of ...
There are lots of challenges in IoT around secure, scalable and business friendly infrastructure for enterprises. For large corporations, IoT implementations are one of the top priorities of the decade. All industries are seeing a competitive need to sustain by investing in IoT initiatives. The value addition comes from improved customer service, innovative product and additional revenue streams. The data from these IP-connected devices can be leveraged for a variety of business applica...
To manage complex web services with lots of calls to the cloud, many businesses have invested in Application Performance Management (APM) and Network Performance Management (NPM) tools. Together APM and NPM tools are essential aids in improving a business's infrastructure required to support an effective web experience... but they are missing a critical component - Internet visibility. Internet connectivity has always played a role in customer access to web presence, but in the past few years u...
Working with Big Data is challenging, especially when decision makers depend on market insights and intelligence from your data but don't have quick access to it or find it unusable. In their session at 6th Big Data Expo, Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia; Zel Bianco, President, CEO and Co-Founder of Interactive Edge of Solgenia; and Ermanno Bonifazi, CEO & Founder at Solgenia, discussed how a revolutionary cloud-based BI along with mobile analytics is already c...
The WebRTC Summit 2015 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
In this session we look at creating interactive communications via the web by adding messaging, file transfer, and group communication (group chat and audio/video conferencing) into the web experience. We will also discuss potential applications of this technology in areas including B2B, B2C, P2P, and gaming. Peter is Technical Director at Acision. He graduated from The University of Edinburgh in 2000 with a BSc (Hons) in Computer Science. After graduation Peter worked on a PSTN switch dev...
Recent technology advances in miniaturization has positioned the wearables as the pinnacle of technology convergence with the human body. We inquire if wearables are mere standard miniaturized devices extended with the connectivity and present our views on considerations like design, applications, performance, efficiency, interoperability, usage scenarios, human device interaction and consequent trade-offs enabling wearables to impart optimal value.
The Internet of Things Maturity Model (IoTMM) is a qualitative method to gauge the growth and increasing impact of IoT capabilities in an IT environment from both a business and technology perspective. In his session at @ThingsExpo, Tony Shan will first scan the IoT landscape and investigate the major challenges and barriers. The key areas of consideration are identified to get started with IoT journey. He will then pinpoint the need of a tool for effective IoT adoption and implementation, whic...
Shipping daily, injecting faults, and keeping an extremely high availability "without Ops"? Understand why NoOps does not mean no operations. Agile development methodologies require evolved operations to be successful. In his keynote at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how Microsoft teams who have made huge progress with a DevOps transformation effectively utilize operations staff and how challenges were overcome. Regardless ...
Software is eating the world. Companies that were not previously in the technology space now find themselves competing with Google and Amazon on speed of innovation. As the innovation cycle accelerates, companies must embrace rapid and constant change to both applications and their infrastructure, and find a way to deliver speed and agility of development without sacrificing reliability or efficiency of operations. In her Day 2 Keynote DevOps Summit, Victoria Livschitz, CEO of Qubell, discussed...
Cloud computing started a technology revolution; now DevOps is driving that revolution forward. By enabling new approaches to service delivery, cloud and DevOps together are delivering even greater speed, agility, and efficiency. No wonder leading innovators are adopting DevOps and cloud together! In his session at DevOps Summit, Andi Mann, Vice President of Strategic Solutions at CA Technologies, explored the synergies in these two approaches, with practical tips, techniques, research data, wa...
SYS-CON Events announced today that AIC, a leading provider of OEM/ODM server and storage solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. AIC is a leading provider of both standard OTS, off-the-shelf, and OEM/ODM server and storage solutions. With expert in-house design capabilities, validation, manufacturing and production, AIC's broad selection of products are highly flexible and are conf...
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements...
SYS-CON Events announced today that Blue Box has been named “Bronze Sponsor” of SYS-CON's DevOps Summit New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. Blue Box delivers Private Cloud as a Service (PCaaS) to a worldwide customer base. Built on a technology platform leveraging decades of operational expertise in cloud and distributed systems, Blue Box Cloud is a managed private cloud product available in both hosted and on-prem versions. Each Blue Box ...