# Excellon Defines Multi-Stage Gold-Silver System Linking Pierina, Shafra and Mallay Deeps at Mallay Mine

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/excellon-defines-multi-stage-gold-silver-system-linking-pierina-shafra-and-malla--b3044baf-8f22-4a2e-82ed-ffa2a6a98d81

Original source: https://money.tmx.com/en/quote/EXN/news/8557437094288708/excellon-defines-multi-stage-gold-silver-system-linking-pierina-shafra-and-malla

Publisher: tmx

Original announcement: 2025-11-26T11:13:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Excellon Resources Inc.

- Ticker: EXN

- Exchange: TSX

- Region: central Peru

- Primary commodity: Gold

- Secondary commodities: Silver, Copper, Zinc, Lead

- Document categories: Drill results, Other

- Extracted: 2026-08-23 10:52:29 UTC

Narrative sentiment: 0.60 · Bullish

## Minestarters Atlas summary

Excellon has defined a multi-stage gold-silver system at the Mallay Mine in Peru, linking the Pierina, Shafra, and Mallay Deeps targets. Surface sampling at the Shafra zone returned gold up to 62.38 g/t, and the company plans 3,500 metres of underground drilling to test extensions at depth.

Reasoning: The release identifies significant gold potential via surface sampling and provides a structural framework for new deep exploration targets, though it relies partly on unverified historical data.

- Positive factor: High-grade surface gold intercepts

- Positive factor: Structural continuity identified

- Positive factor: New conceptual deep target

- Negative factor: Surface samples not necessarily representative

- Negative factor: Historical data not verified by QP

Facts used in scoring: 2

## Classification and evidence

**Bonanza Intercept**

Polarity: positive

Definition: Exceptionally high-grade zone, well above the deposit-type norm.

Why it applies: Surface sample returned 62.38 g/t Au, which is exceptionally high.

Evidence · text

> maximum value of 62.38 g/t Au

**QA/QC Disclosed**

Polarity: positive

Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\).

Why it applies: The release mentions use of blanks, certified reference materials, and duplicates, and names an accredited laboratory.

Evidence · text

> Excellon inserts blanks, certified reference materials and duplicates

## Extracted facts

Stored fact records: 2. Some facts used in scoring do not have a stored record.

## Drill Results (2)

### Fact 1

[Link to this fact](https://atlas-staging.minestarters.com/news/excellon-defines-multi-stage-gold-silver-system-linking-pierina-shafra-and-malla--b3044baf-8f22-4a2e-82ed-ffa2a6a98d81#fact-drill-facts-0)

Mallay Mine · gold

#### Identity

- Project: Mallay Mine
- Commodity: gold
- Region: peru
- Reported Region: central Peru
- Ticker: EXN

#### Geometry

- Grade: 62.38
- Grade Unit: g/t

#### Classification

- Sample Type: surface

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-11-26T00:00:00.000Z

Reasoning: 62.38 g/t Au is an exceptional surface grade for this system.

- Positive factor: Bonanza grade surface intercept

- Negative factor: Surface grab samples not necessarily representative

Evidence · text

> maximum value of 62.38 g/t Au

### Fact 2

[Link to this fact](https://atlas-staging.minestarters.com/news/excellon-defines-multi-stage-gold-silver-system-linking-pierina-shafra-and-malla--b3044baf-8f22-4a2e-82ed-ffa2a6a98d81#fact-drill-facts-1)

Mallay Mine · gold

#### Identity

- Project: Mallay Mine
- Commodity: gold
- Region: peru
- Reported Region: central Peru
- Ticker: EXN

#### Geometry

- Grade: 0.4
- Grade Unit: g/t

#### Classification

- Sample Type: surface

#### Review

- Needs Review: No
- Interp. Status: scored
- Historical: No

#### Dates

- Event date: 2025-11-26T00:00:00.000Z

Reasoning: 96% of samples were anomalous, showing widespread mineralization.

- Positive factor: Widespread anomalous gold

Evidence · text

> 22 % > 0.40 g/t Au

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.