Platosa is one of the highest-grade silver mines in Mexico and is 100% owned by Excellon Resources Inc. Initially acquired in 1996, the property now encompasses 11,000 ha in the State of Durango, north-central Mexico.
The Platosa mine is an underground operation accessed by ramp. Most of the mining at Platosa has occurred from flat-lying massive sulphide bodies (mantos) and has been carried out using a modified room and pillar method. Ore produced from the mine is crushed on site and transported 200 km south for processing at the Miguel Auza mill located in the State of Zacatecas.
The project is subject to (a) 1.25% net smelter royalty in respect of manto or mineralization other than skarn mineralization or (b) 0.50% NSR in respect of skarn or “Source” mineralization.
Geology and Mineralization
The Platosa Mine exploits a series of typical, though very high‐grade, massive sulphide, distal CRD silver, lead, zinc manto deposits located strategically in the middle of the prolific Mexican CRD Belt. Diamond drilling results in 2013 and 2014 continued to confirm that the Platosa property holds considerable potential for the discovery of additional high‐grade manto mineralization and for the discovery of large‐tonnage, though lower grade, proximal skarn mineralization.
CRDs are epigenetic, intrusion‐related, high‐temperature, sulphide‐dominant, lead‐zinc‐silver‐copper‐gold‐rich deposits that commonly occur in clusters associated with major regional geologic features. The Mexican CRD Belt is perhaps the world's best developed CRD cluster with typical deposit sizes within the belt ranging from 10-15 million tonnes. Platosa lies in the centre of the northwest‐southeast‐trending axis of the largest deposits of the belt.
The Company believes that significant potential remains for further new manto discoveries as the deposit area is open to the north, northeast, east and southeast of the known mantos, with smaller areas closer to the known mantos potentially hosting additional massive sulphides easily accessible from existing underground infrastructure.
For more information on the Company’s current drill program, please see the Corporate Presentation.