Excellon Resources (NYSE/TSX: EXN) has provided an update on the ongoing drill program at the Silver City project in Saxony, Germany.

Highlights

• Drilling commenced smoothly at the first of four priority targets of the 12,000 metre diamond drilling program planned for 2021
• Second drill rig added to the program, with drilling now underway at the Peter Vein (Neue Hoffnung Gottes) and Bräunsdorf (Christbescherung) targets
• Drilling at Reichenbach and Grauer Wolf scheduled to commence in August

"We have had another smooth startup of drilling at Silver City this year," stated Ben Pullinger, senior vice-president, geology and corporate development. "We continue to appreciate the support of the local community and benefit from the excellent work of the TU Bergakademie Freiberg and the Helmholtz Institute of Freiberg. This year's program builds on discoveries made last year in the first modern-day drilling for precious metals on the Braunsdorf licence. Our current drilling focuses on the historically productive gneiss-schist contact running through the Braunsdorf and Peter Vein mines. In the coming weeks we will move up to the mafic-schist contact intersected last year at Reichenbach and Grauer Wolf, both of which yielded some of the most interesting results from drilling to date."

Preparatory work for this year's program included reprocessing and interpretation of historical airborne data, interpretation of geochemical data from 2020 drilling and continued compilation of historical data. Interpretation of high-resolution SWIR-LWIR hyperspectral acquired from 2020 drill core is supported by ongoing multidisciplinary research studies at the TU Bergakademie Freiberg and the Helmholtz Institute of Freiberg. The upcoming Grauer Wolf and Reichenbach targets are located along the newly drilled mafic volcanic and schist contact, with the geology and alteration intersected to date indicative of a compelling high-grade silver system.

The Silver City project was mined for high-grade silver from the 11th 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.

Excellon (NYSE/TSX: EXN) holds an option to acquire a 100% interest in the Silver City Project from Globex Mining Enterprises Inc. (TSX:GMX; OTCQX:GLBXF; and FRA: G1MN).

Samples from the drill campaign are being shipped for analysis to an ALS Global laboratory in Galway, Ireland, an ISO/IEC17025:2017 accredited facility. This facility was selected to accelerate and better manage sample-processing times in the context of the COVID-19 logistical challenges and strong demand for drill assaying globally.

Disclaimer: Excellon Resources is a paid marketing client*

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