|By PR Newswire||
|January 16, 2014 05:59 AM EST||
TORONTO, Jan. 16, 2014 /CNW/ - Excellon Resources Inc. (TSX:EXN) (OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce fourth quarter and annual 2013 production results from the La Platosa Mine in Durango, Mexico.
Q4 and 2013 Production Highlights
- 2.1 million silver equivalent ounces ("Ag Eq Oz") produced during 2013 (Q4 - 545,000 Ag Eq Oz), including:
- 1.4 million oz Ag (Q4 - 411,000 oz Ag)
- 7.3 million lb Pb (Q4 - 1.7 million lb Pb)
- 9.9 million lb Zn (Q4 - 1.9 million lb Zn)
- Record annual produced and milled tonnage of ~70,000 tonnes, including record quarterly produced tonnes of ~20,000 tonnes in Q4
"During the latter half of 2013 we began to see the results of our continuing efforts to improve and optimize La Platosa production," stated Brendan Cahill, President and Chief Executive Officer. "Of particular note, during the last two quarters of the year we milled almost 38,000 tonnes of ore grading 812 g/t silver for 866,000 silver ounces, demonstrating the potential to increase tonnage while maintaining an industry leading grade and cost profile."
"Our teams at La Platosa and Miguel Auza deserve great credit for the significant improvements in production that were realized in the second half of the year. We aim to continue increasing our production profile and reducing costs into 2014, while further enhancing the foundation of our business - the health and safety of our workers."
Q4 and 2013 Production Results
|Q4 2013||Q4 2012||2013||2012|
|Ag Eq (oz)||545,428||360,831||2,055,567||1,550,964|
|Subject to adjustment following settlement with concentrate purchaser.|
Silver equivalent ounces established using prices of US$24 per oz Ag,
US$0.90 per lb Pb, and US$0.90 per lb Zn
applied to the recovered metal content of the concentrates.
Production of over 1.4 million ounces of silver was the Company's highest annual production at La Platosa since 2009. The Company realized a significant improvement in tonnes per day ("tpd") of production during the latter half of the year from ~175 tpd during Q1/Q2 to ~210 tpd in Q3/Q4 (including 223 tpd in Q4) as the benefits of underground development work during the first half of the year were realized and the Company began identifying further operational efficiencies and improving water management. Production of 2.1 million Aq Eq Oz during the year was in line with the Company's revised target (announced September 17, 2013) and silver grades were generally in line with budget (718 g/t Ag versus 728 g/t Ag budgeted).
Ore production during the fourth quarter was primarily from the 5A, 6A and Guadalupe North mantos. Tonnes milled represented a 27% increase on the previous quarter for a total of 21,186 tonnes. Grades were in line with estimates for the La Platosa resources mined during the period. As in the third quarter, recoveries were slightly lower due to (i) significant remnant grouting from historical water management measures in certain areas mined, (ii) oxide mineralization in the 5A manto, and (iii) similar lead and zinc grades affecting the mill's differential separation of each metal. Silver recoveries improved in the latter part of the quarter to approximately 92%.
The Platosa operation is working to incrementally increase daily production throughout 2014, with an initial target of 210 tpd, a 9% increase over 2013. This target will be assessed and adjusted by management on an ongoing basis as the Company continues to focus on improving and strengthening operational efficiencies at the mine site, including further enhancing grouting techniques and water management. The Miguel Auza mill had approximately 55% spare capacity during 2013, leaving significant availability for increased tonnage.
The Company is currently targeting production of approximately 1.5 million ounces of silver or 2.2 million Ag Eq oz (at US$24 per oz Ag, US$0.90 per lb Pb, and US$0.90 per lb Zn). Net cash costs and all-in costs per Ag Eq Oz for 2013 and forecast for 2014 will be provided in the Company's 2013 annual financial results, scheduled for release prior to market open on March 26, 2014.
In light of the tragic accident that occurred on January 9, 2014, the Company continues to review and enhance safety protocols and training at the La Platosa mine, with a particular focus on improved safety awareness amongst all of its employees and management.
Excellon's 100%-owned La Platosa Mine in Durango is Mexico's highest grade silver mine, with lead and zinc by-products making it one of the lowest cash cost silver mines in the country. The Company is positioning itself to capitalize on undervalued projects by focusing on increasing La Platosa's profitable silver production and near-term mineable resources.
Additional details on the La Platosa Mine and the rest of Excellon's exploration properties are available at www.excellonresources.com.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this Press Release, which has been prepared by management. This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including potential property acquisitions, the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/reserves, geological interpretations, proposed production rates, potential mineral recovery processes and rates, business and financing plans, business trends and future operating revenues. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located, significant downward variations in the market price of any minerals produced [particularly silver], the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, to produce minerals from its properties successfully or profitably, to continue its projected growth, to raise the necessary capital or to be fully able to implement its business strategies. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company's mineral properties, and particularly the November 22, 2011 NI 43-101-compliant technical report prepared by Roscoe Postle Associates Inc. with respect to the Platosa Property. This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.
SOURCE Excellon Resources Inc.
Successful digital transformation requires new organizational competencies and capabilities. Research tells us that the biggest impediment to successful transformation is human; consequently, the biggest enabler is a properly skilled and empowered workforce. In the digital age, new individual and collective competencies are required. In his session at 19th Cloud Expo, Bob Newhouse, CEO and founder of Agilitiv, will draw together recent research and lessons learned from emerging and established ...
Oct. 24, 2016 09:45 PM EDT Reads: 1,354
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
Oct. 24, 2016 08:45 PM EDT Reads: 1,024
SYS-CON Events announced today that Enzu will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to focus on the core of their online busine...
Oct. 24, 2016 08:30 PM EDT Reads: 1,323
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
Oct. 24, 2016 08:15 PM EDT Reads: 2,583
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
Oct. 24, 2016 07:30 PM EDT Reads: 3,196
Established in 1998, Calsoft is a leading software product engineering Services Company specializing in Storage, Networking, Virtualization and Cloud business verticals. Calsoft provides End-to-End Product Development, Quality Assurance Sustenance, Solution Engineering and Professional Services expertise to assist customers in achieving their product development and business goals. The company's deep domain knowledge of Storage, Virtualization, Networking and Cloud verticals helps in delivering ...
Oct. 24, 2016 07:15 PM EDT Reads: 1,047
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Oct. 24, 2016 07:15 PM EDT Reads: 1,162
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
Oct. 24, 2016 06:15 PM EDT Reads: 4,750
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Oct. 24, 2016 05:45 PM EDT Reads: 1,498
SYS-CON Events announced today that 910Telecom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Housed in the classic Denver Gas & Electric Building, 910 15th St., 910Telecom is a carrier-neutral telecom hotel located in the heart of Denver. Adjacent to CenturyLink, AT&T, and Denver Main, 910Telecom offers connectivity to all major carriers, Internet service providers, Internet backbones and ...
Oct. 24, 2016 05:00 PM EDT Reads: 3,634
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Oct. 24, 2016 05:00 PM EDT Reads: 3,902
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
Oct. 24, 2016 04:45 PM EDT Reads: 1,568
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
Oct. 24, 2016 04:30 PM EDT Reads: 1,591
SYS-CON Events announced today that Transparent Cloud Computing (T-Cloud) Consortium will exhibit at the 19th International Cloud Expo®, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The Transparent Cloud Computing Consortium (T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data proces...
Oct. 24, 2016 04:30 PM EDT Reads: 1,367
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 24, 2016 04:15 PM EDT Reads: 2,606