Excellon Resources: Rises on approval for drilling at Germany project

Excellon Resources

16/06/2020 15:46

** Shares of Canadian miner  EXN.TO  up 2.1% at 74 cents
    ** Co's drilling operation plan for the Silver City Project
in Saxony, Germany has been approved by the Mining Authority of
Saxony  urn:newsml:reuters.com:*:nCNWKYwKva
    ** Approval received for initial drill program of 15 holes
totaling 2,500 meters; drilling expected to commence before the
end of June
    ** The project is a 164 square km high-grade epithermal
silver district that was mined for over 750 years but has seen
no modern day exploration for precious metals
    ** Co says preparations are underway for an early start of
field operations 
    ** Avg. rating of 3 analysts on stock is "buy"; median PT is
C$1.20 - Refinitiv data
    ** Stock down 30% this year, as of last close

 (Reporting by Arundhati Sarkar in Bengaluru)
 ((Arundhati.Sarkar@thomsonreuters.com; +1 646 223 8780 Ext:
2776; Reuters Messaging:
arundhati.sarkar.thomsonreuters.com@reuters.net))