Excellon Resources: Sample Results From The Oakley Project In Brief

Silver producer Excellon Resources (TSX EXN / MRS E4X1) is back with news from its Oakley project in Idaho, USA. The company has secured new, promising areas there.

Excellon is exploring the Oakley project in collaboration with Centerra (US) Inc., which has acquired the option to earn a 70% interest in the project, including by conducting exploration activities equivalent to $ 7 million prior to May 2026 As just reported, Excellon has now staked a further 1,012 hectares of land, so the Oakley property now spans 2,833 hectares.

At the same time, the approval process is continuing for another 388 hectares of land administered by the state of Idaho, for which one wants to obtain the right to exploitation. So far, Excellon has over 129.5 hectares of mineral leases on Oakley.

At the same time, the company has carried out an extensive soil sampling program in the newly defined area and has already submitted the samples for analysis for gold and other elements. In addition, an airborne magnetic survey across the entire project area covering approximately 1,330 line kilometers – including the new areas – has been completed and a detailed geological mapping program has been completed over the Cold Creek prospect

The results of the soil samples are expected shortly. The company plans to integrate the results of the magnetic survey into the existing database in order to generate targets for geophysical surveys. These should follow in the beginning or middle of the fall season.

In addition, the company hired the experts from Geoterra from Oregon to conduct a lidar (laser illuminated detection and ranging) and orthophoto scan of the Oakley project – at the beginning of August. Both techniques will provide high quality images that you want to use to improve the structural geology of the geological model. Excelon wants to identify large and medium-sized faults by determining trends and orientations. This and all other exploration data will then be integrated into the existing model so that test drilling can begin at the end of 2020.

It is easy to see that Excellon is now pushing ahead with the Oakley gold project – in collaboration with Centerra. We are curious to see what the soil samples show, which could give a first positive indication of the potential of the project.

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