Excellon Resources Inc. (TSXV: EXN) has completed the acquisition of Minera CRC S.A.C., securing 100% ownership of the fully permitted, past-producing Mallay Silver Mine and the adjacent Tres Cerros Gold/Silver Exploration Property in central Peru. The acquisition aligns with Excellon’s growth strategy and marks a decisive move toward restarting silver production.
The Mallay Mine, which produced over 18Moz AgEq between 2012 and 2018 under Buenaventura, includes significant existing infrastructure such as a flotation plant, underground development, tailings facilities, and grid power, representing over US$115M in historical investment.
Excellon intends to initiate underground rehabilitation, technical studies, and near-mine drilling, aiming for a potential restart decision within three to six months.
The 2,000ha Tres Cerros Property hosts high-sulphidation gold-silver mineralization and coincident geophysical anomalies, offering a promising bulk-tonnage exploration target. Excellon will conduct surface mapping and explore nearby targets, including the underexplored Pierina vein system.
The acquisition was completed through a series of agreements involving Adar Mining Corp. and Premier Silver Corp., including US$2.2M in cash payments and the issuance of over 17.8Mshares. A back-in rights agreement, royalty arrangements, and a metals stream agreement were also established as part of the transaction.
For more information, visit www.excellonresources.com
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