|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.
SYS-CON Events announced today that Pulzze Systems 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. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Sep. 25, 2016 06:30 PM EDT Reads: 1,800
SYS-CON Events announced today that Commvault, a global leader in enterprise data protection and information management, has been named “Bronze Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Commvault is a leading provider of data protection and information management solutions, helping companies worldwide activate their data to drive more value and business insight and to transform moder...
Sep. 25, 2016 06:15 PM EDT Reads: 2,401
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Sep. 25, 2016 05:30 PM EDT Reads: 1,535
SYS-CON Events announced today that Secure Channels 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 bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Sep. 25, 2016 05:15 PM EDT Reads: 1,518
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 ...
Sep. 25, 2016 05:00 PM EDT Reads: 1,745
SYS-CON Events announced today that Bsquare has been named “Silver Sponsor” of SYS-CON's @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes.
Sep. 25, 2016 04:15 PM EDT Reads: 2,552
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Sep. 25, 2016 03:15 PM EDT Reads: 4,384
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Sep. 25, 2016 03:00 PM EDT Reads: 1,574
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
Sep. 25, 2016 02:30 PM EDT Reads: 1,511
SYS-CON Events announced today the Kubernetes and Google Container Engine Workshop, being held November 3, 2016, in conjunction with @DevOpsSummit at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA. This workshop led by Sebastian Scheele introduces participants to Kubernetes and Google Container Engine (GKE). Through a combination of instructor-led presentations, demonstrations, and hands-on labs, students learn the key concepts and practices for deploying and maintainin...
Sep. 25, 2016 02:00 PM EDT Reads: 2,602
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Sep. 25, 2016 02:00 PM EDT Reads: 1,515
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
Sep. 25, 2016 01:00 PM EDT Reads: 828
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
Sep. 25, 2016 12:45 PM EDT Reads: 2,458
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Sep. 25, 2016 12:15 PM EDT Reads: 1,113
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Sep. 25, 2016 12:15 PM EDT Reads: 3,380