Toronto Stock Exchange - EXN
Oct. 31, 2012
Excellon Resources Inc. (TSX: EXN) ("Excellon" or "the Company")
is pleased to announce that it has commenced a 5,000 metres ("m") diamond drilling program on its DeSantis Project in
Highlights from previous drilling on the project include:
- Hydrothermal Zone:
- 7.90 g/t gold over 5.2 m in hole DS10-02;
- 3.40 g/t gold over 9.9 m, including 13.70 g/t Au over 0.7 m in hole DS10-06;
- 3.63 g/t gold over 23.17 m, including 14.25 g/t gold over 1.17 m in hole DS10-10A;
- Albitite Zone:
- 1.74 g/t gold over 12.0 m, including 10.39 g/t Au over 1.5 m in hole DS12-004.
We are very pleased with our technical progress at DeSantis since the completion of the last drilling campaign in April. The exploration team in Timmins has done a thorough job of compiling historical data and come up with several new target areas,"
, Vice-President of Exploration.
"This regional approach has enabled the Company to see the project in a new light and we look forward to the results of this drilling program."
The DeSantis Project
which includes the past producing DeSantis Mine, covers approximately five km of strike length within the highly prospective geology of the Destor-Porcupine Deformation Zone ("DPDZ"), the main structure controlling gold deposits in the
gold camp. The DeSantis Mine produced 35,800 ounces of gold from 178,650 tonnes of ore which graded 6.2 g/t Au during its intermittent production history. The property is located approximately 11 km west of Goldcorp Inc.'s Dome Mine and 14 km east of Lake Shore Gold Corp.'s Timmins Mine. Exploration on the DeSantis Project since 2010 includes 5,888 m in 15 holes in 2010 and 27 holes (seven abandoned due to technical issues) totalling 11,039 m in 2011/2012.
In mid-October the Company completed a comprehensive program of geotechnical compilation, relogging and sampling of recent and historic drill core and reviewing the project in a regional context. Based on the results of this work the Company commenced the current 5,000 m diamond drilling program in late October. Drilling will follow up on promising recent results and will test undrilled areas east of and below the known Albitite Zone. In addition, geophysical and geological targets will be tested in a series of holes on areas of the project that have not been thoroughly explored. Map 1 shows the location of the property in the Timmins Camp, while Map 2 is a longitudinal section showing the location of recent and planned drilling near the # 2 shaft on both the Hydrothermal Alteration and Albitite zones.