Excellon Resources Produces 487,009 Silver Equivalent Ounces In Q2 2021

Excellon Resources Inc. (TSX: EXN) provided this morning the production results for Q2 2021 at its Platosa Mine in Durango, Mexico. The results highlighted producing 487,009 silver equivalent ounces for the quarter, down from Q1 2021’s production of 516,715 silver equivalent ounces.

The quarterly production results breakdown consists of 296,013 silver ounces, 1.9 million lead pounds, and 2.5 million zinc pounds.

The mining firm also mined a total of 21,772 tonnes and milled 21,646 tonnes of material for the quarter, compared to Q2 2021’s performance of 21,212 tonnes mined and 21,764 tonnes milled.

Ore grades also fell on a quarter-on-quarter basis with silver grade down to 489 g/t from 524 g/t, lead grade down to 5.14% from 5.35%, and zinc grade down to 6.48% from 6.73%. The company attributes this decline to higher mining dilution in narrower sections of the ore body.

Recovery rates for this quarter are at 87.0% for silver, 78.6% for lead, and 79.4% for zinc, compared to last quarter’s 89.7% for silver, 81.8% for lead, and 74.7% for zinc.

However, the company notes that the production results this quarter have improved from last year, which only produced 34,924 silver equivalent ounces. The company relayed that the performance last year was impacted by the suspension of operations in Mexico from April 2, 2020 to June 1, 2020 due to COVID-19.

The company expects to release full financial results for the quarter on July 29, 2021.

Excellon Resources last traded at $2.39 on the TSX.

Information for this briefing was found via Sedar and Excellon Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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