- Excellon Resources Inc. expands its Silver City Project in Germany, doubles ground position to 34,150 hectares
- Germany and the EU have seen mining revival in attempt to enhance mineral supply security
- Excellon continues to be a first mover on silver exploration in Saxony, Germany, with an unparalleled ground position covering historical high-grade silver mines on an epithermal silver belt that has never seen modern exploration for precious metals
Excellon (TSX: EXN) (NYSE American: EXN) (FSE: E4X2), a silver and base metals producer with precious metal projects in Mexico, Idaho and Germany, zeroes in on the expansion of its Silver City Project in Saxony, Germany. Following the approval from Saxon Mining Authority, the company has added three exploration licenses to the Silver City Project: Frauenstein, Mohorn and Oederan, doubling the size of the project to 34,150 hectares (https://ibn.fm/5A0bx).
“Over the past year, Saxony has become an important jurisdiction for Excellon,” said Ben Pullinger, SVP Geology & Corporate Development for Excellon. “We permitted the first drilling program for precious metals in modern times on the Bräunsdorf license, smoothly initiated the program, struck a major epithermal silver system over 12 kilometers, confirmed high-grade silver species and discovered high-grade silver veins. Based on our ongoing review of historical archives, we have added new licenses that cover additional areas of historical high-grade silver production with no modern exploration.”
The Silver City District was mined for high-grade silver from the 11th century until the late 19th century, when Germany left the silver standard in 1873 and the gold:silver ratio collapsed. Records from the project indicate high-grade silver production over substantial widths throughout the district. Excellon has embarked on the first modern day exploration program focused on precious metals, with high-grade silver intersections from the initial holes of the first program on the Bräunsdorf license including:
- 1,043 g/t silver equivalent (“AgEq”) over 1.3 metres (954 g/t Ag, 0.1 g/t Au, 0.7% Pb and 2.0% Zn) at Grauer Wolf; and
- 1,042 g/t AgEq over 0.45 metres (911 g/t Ag, 0.4 g/t Au, 2.8% Pb and 0.9% Zn) at Peter Vein.
The Frauenstein, Mohorn and Oederan exploration licenses were granted to Excellon following applications to the Sächsisches Oberbergamt (Saxon Mining Authority). Excellon also holds an option to acquire a 100% interest in the Bräunsdorf license on the Silver City Project from Globex Mining Enterprises Inc. (TSX: GMX) (OTCQX: GLBXF) (FRA: G1MN).
For more information, visit the company’s website at www.ExcellonResources.com.
NOTE TO INVESTORS: The latest news and updates relating to EXN are available in the company’s newsroom at https://ibn.fm/EXN
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