Excellon Files NI 43-101 Technical Report for Mallay
Original announcement by tmx on
- Company
- Excellon Resources Inc.
- Ticker
- EXN
- Exchange
- TSX
- Region
- central Peru
- Primary commodity
- Silver
- Secondary commodities
- Lead, Zinc
- Document categories
- Resource update, Other
- Extracted
- 2026-08-23 10:40:25 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Excellon Resources has filed a NI 43-101 technical report for the Mallay Silver-Lead-Zinc Mine in Peru. The report supports a Mineral Resource Estimate containing 12.01 million ounces of silver equivalent, showing material growth in silver inventory compared to historical estimates.
Reasoning: The filing of a NI 43-101 technical report supporting a materially larger silver inventory than historical levels provides significant de-risking for the restart of the Mallay mine.
Positive factors
- Material silver growth vs historical inventory
- High confidence dataset with extensive drilling and channel samples
- NI 43-101 compliant technical report filed
- QP signed off by independent SGS Canada
Negative factors
- Resource is not reserves
Facts used in scoring: 6
Classification and evidence
NI 43-101 Compliantpositive
Resource estimate prepared in compliance with NI 43-101 (Canada) — high reporting standard.
Why it applies: The company filed an independent NI 43-101 technical report for the Mallay project.
Evidence · text
“Excellon Files NI 43-101 Technical Report for Mallay”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Allan Armitage, Ph.D., P.Geo. of SGS Geological Services is named as the independent Qualified Person.
Evidence · text
“The mineral resource was estimated by Allan Armitage, Ph.D., P.Geo. of SGS Geological Services and is an independent Qualified Person”
Cut-off Gradeneutral · Story-specific tag
No canonical definition is currently available.
Why it applies: The resource is reported at a base case cut-off grade of 120 g/t AgEq.
Evidence · text
“Mineral resources are reported at a base case cut-off grade of 120 g/t AgEq.”
Extracted facts
Stored fact records: 6. Some facts used in scoring do not have a stored record.
Resource Estimates (6)
indicatedsilverTonnes: 890000Grade: 195Grade Unit: g/tContained Metal: 5570000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- EXN
Resource Data
- Category
- indicated
- Tonnes
- 890000
- Grade
- 195
- Grade Unit
- g/t
- Contained Metal
- 5570000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-08T00:00:00.000Z
Reasoning: High-grade indicated silver resource with significant contained metal.
Positive factors
- Material silver growth vs historical inventory
Evidence · text
“Indicated Mineral Resources: 890,000 tonnes grading 195 g/t silver”
indicatedleadTonnes: 890000Grade: 3.33Grade Unit: %Contained Metal: 65000000Contained Unit: lbsView all detailsHide details
Identity
- Commodity
- lead
- Ticker
- EXN
Resource Data
- Category
- indicated
- Tonnes
- 890000
- Grade
- 3.33
- Grade Unit
- %
- Contained Metal
- 65000000
- Contained Unit
- lbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-08T00:00:00.000Z
Reasoning: Significant lead component in the indicated resource.
Evidence · text
“3.33% lead”
indicatedzincTonnes: 890000Grade: 4.83Grade Unit: %Contained Metal: 95000000Contained Unit: lbsView all detailsHide details
Identity
- Commodity
- zinc
- Ticker
- EXN
Resource Data
- Category
- indicated
- Tonnes
- 890000
- Grade
- 4.83
- Grade Unit
- %
- Contained Metal
- 95000000
- Contained Unit
- lbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-08T00:00:00.000Z
Reasoning: Significant zinc component in the indicated resource.
Evidence · text
“4.83% zinc”
inferredsilverTonnes: 362000Grade: 149Grade Unit: g/tContained Metal: 1740000Contained Unit: ozView all detailsHide details
Identity
- Commodity
- silver
- Ticker
- EXN
Resource Data
- Category
- inferred
- Tonnes
- 362000
- Grade
- 149
- Grade Unit
- g/t
- Contained Metal
- 1740000
- Contained Unit
- oz
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-08T00:00:00.000Z
Reasoning: Inferred silver resource provides additional upside but carries higher risk.
Negative factors
- Inferred category implies lower geological confidence
Evidence · text
“Inferred Mineral Resources: 362,000 tonnes grading 149 g/t silver”
inferredleadTonnes: 362000Grade: 2.67Grade Unit: %Contained Metal: 21000000Contained Unit: lbsView all detailsHide details
Identity
- Commodity
- lead
- Ticker
- EXN
Resource Data
- Category
- inferred
- Tonnes
- 362000
- Grade
- 2.67
- Grade Unit
- %
- Contained Metal
- 21000000
- Contained Unit
- lbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-08T00:00:00.000Z
Reasoning: Inferred lead component.
Evidence · text
“2.67% lead”
inferredzincTonnes: 362000Grade: 4.32Grade Unit: %Contained Metal: 34000000Contained Unit: lbsView all detailsHide details
Identity
- Commodity
- zinc
- Ticker
- EXN
Resource Data
- Category
- inferred
- Tonnes
- 362000
- Grade
- 4.32
- Grade Unit
- %
- Contained Metal
- 34000000
- Contained Unit
- lbs
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-08T00:00:00.000Z
Reasoning: Inferred zinc component.
Evidence · text
“4.32% zinc”
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.