Excellon Resources Inc. (TSXV: EXN) has released results from 15 drill holes totalling approximately 4,400 metres at its 100%-owned Mallay Silver-Lead-Zinc Mine in central Peru, confirming grade and width continuity of the Isguiz vein below the 4090 Level. Highlight intercepts include 5.00 metres grading 398 g/t silver-equivalent and a 12.55-metre interval grading 178 g/t silver-equivalent, the latter providing direct depth continuity below the operating level. The release states that results will feed into an updated mine plan and schedule targeted for year-end, supporting a planned transition to mechanised mining. Investors may be watching how these results influence the company's near-term development decisions at Mallay.

Key Points

  • Excellon Resources Inc. (TSXV: EXN | OTCQB: EXNRF | FSE: E4X2)
  • 15 drill holes (~4,400 m) confirm Isguiz vein grade and width continuity below the 4090 Level at the Mallay Silver-Lead-Zinc Mine in Peru
  • Top intercept MLL26-010: 5.00 m @ 398 g/t AgEq, including 3.40 m @ 495 g/t AgEq — the highest-grade Isguiz intercept returned to date; updated mine plan targeted for year-end
  • Calc-silicate mineralisation flanking Isguiz sits outside the current Mineral Resource Estimate; step-out drilling across four priority targets is underway

Isguiz Vein Drill Results Support Deeper Development Planning at Mallay

The 15 holes reported cover Clavos 3 and 6, the two mineralised shoots central to near-term mine planning. Hole MLL26-010 returned the highest-grade Isguiz intercept to date at 5.00 metres grading 255 g/t Ag, 2.39% Zn, and 3.02% Pb (398 g/t AgEq), including 3.40 metres at 495 g/t AgEq. Hole MLL26-004 intersected 12.55 metres at 178 g/t AgEq, providing depth continuity below the 4090 Level, while MLL26-011 returned 2.3 metres at 314 g/t AgEq in the Maria vein — the deepest mineralisation in the program thus far, approximately 280 metres below the 4090 Level.

Calc-Silicate Zones Flank Isguiz Outside the Current Mallay Resource Estimate

Drilling has identified wide silver-lead-zinc mineralised zones in calc-silicate alteration on both sides of the Isguiz vein, all sitting outside Mallay's current Mineral Resource Estimate. The widest calc-silicate intercept to date, hole MLL26-006, returned 11.4 metres at 267 g/t AgEq contiguous to the Isguiz vein. The company states this material is adjacent to development planned over the next three years and will be assessed for inclusion in future geological and resource model updates, subject to grade and continuity. No assurance is given that this mineralisation will be included in any future resource estimate or prove economically mineable.

Rehabilitation of 400 Ramp Underway as Excellon Targets Mechanised Mining Transition

Rehabilitation of the 400 Ramp — the primary access route to the area below the 4090 Level — is underway, the announcement states. The company expects to incorporate the current drill results into an updated mine plan and schedule targeted for year-end 2026. The disclosure describes a planned transition to more productive, mechanised mining methods in deeper areas, though the company cautions this is not a production decision or production guidance, and no preliminary economic assessment or feasibility study has been completed for Mallay.

Four Step-Out Targets Now Underway Across a 700-Metre Strike Length

With approximately 9,000 metres drilled to date, Excellon has transitioned to four priority step-out targets to be drilled over the next six months, covering an area approximately 700 metres along strike and 400 metres down-dip. These include deep drilling with downhole electromagnetic surveying (1,500 metres planned, underway), the Rosa vein system (2,000 metres, underway), and the Pierina and Periclinal systems (2,500 metres) and Isguiz southern extensions (2,000 metres), both to commence on completion of earlier phases. The immediate share price impact was not clear from available public information.