Excellon Defines Targets at Tres Cerros; Grab Sampling Returns up to 14 g/t Gold and 9,050 g/t Silver
Excellon Resources Inc. (EXN) has provided an update on its 2026 exploration program at the Tres Cerros property, located adjacent to its Mallay Mine in Peru. The company has defined seven new target areas based on district-scale mapping and geochemical sampling, highlighting significant surface grab sample results that support the potential for intermediate sulfidation epithermal gold-silver deposits and porphyry copper centers.
The Tres Cerros property covers approximately 11,000 hectares contiguous to the Mallay Mine and is prospective for epithermal gold-silver and porphyry copper mineralization. Exploration highlights include the definition of seven target areas across roughly 40% of the license. At the Xica target, breccias have been mapped over an area of 400m by 200m, with grab samples returning up to 14 g/t gold and 9,050 g/t silver. The width of these breccias is typically 2 meters.
At the Alpaquitay target, structures outcrop over an area of 1,000m by 500m, with grab samples up to 4.30 g/t gold and 156 g/t silver. The Xica East target features a north-south trending breccia mapped over a 100m strike with approximately 10m thickness, yielding grab samples up to 2.75 g/t gold and 512 g/t silver.
Other defined targets include the Vicuña target, a 500m by 400m area with grab samples up to 0.60 g/t gold, 135 g/t silver, and 3,683 ppm copper. The Tete target consists of breccia bodies averaging approximately 2m thickness over a 400m strike, with grab samples up to 0.13 g/t gold and 43 g/t silver. The Alpaquitay West target features quartz-epidote-pyrite veinlets with anomalies up to 1,647 ppm lead and 3,455 ppm zinc, interpreted as a distal porphyry copper expression. Additionally, the Diatrema Norte target contains veinlets in a subvolcanic dacite dome with anomalies up to 7,000 ppm zinc and 173 ppm lead.
Samples were collected as selective grab samples from outcrop and are not representative of grade over width. They were analyzed by Certimin S.A. in Lima, Peru, which is accredited to ISO/IEC 17025. The assay method involved fire assay with an AAS finish for gold and silver, and four-acid digestion with an AAS finish for 35 other elements. Due to the reconnaissance nature of the sampling, the company relied on Certimin’s internal QA/QC, and no independent check assaying was performed. A full QA/QC program is intended for future drilling.
Shawn Howarth, President and CEO of Excellon Resources Inc., stated, "The results from Tres Cerros are beginning to demonstrate the scale of the opportunity immediately adjacent to Mallay. Across roughly 40% of the license, we have now defined seven target areas, including surface grab samples of up to 14 g/t gold and 9,050 g/t silver."
The company has completed environmental baseline and archaeological studies. The Environmental Impact Declaration (DIA) is expected to be submitted to Peru's Ministry of Energy and Mines by the end of 2026, with an initial drill program targeted for the first half of 2027.
Excellon Resources Inc. also announced the appointment of Dorian L. ("Dusty") Nicol, P.Geo., as Exploration Advisor. Nicol led the current mapping and target identification program.
In corporate news, the company issued 1,400,000 common shares at a deemed price of C$0.495 per share to settle a termination payment with a former employee. These securities are subject to TSX Venture Exchange acceptance and are subject to a four-month hold period.