# Excellon Defines Multi-Stage Gold-Silver System Linking Pierina, Shafra and Mallay Deeps at Mallay Mine Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/excellon-defines-multi-stage-gold-silver-system-linking-pierina-shafra-and-malla--586c912a-f2dc-4d95-a2b3-ff08962cfd7a 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: 2026-09-12 04:55:01 UTC Narrative sentiment: 0.60 · Bullish ## Minestarters Atlas summary Excellon Resources has reported updated geological interpretations at the Mallay Silver Mine in Peru, identifying a multi-stage gold-silver system. 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 the Pierina Vein extension and the 'Mallay Deeps' target. Reasoning: The release reports significant high-grade surface gold anomalies and provides a compelling geological model linking existing workings to new deep targets, though it relies partly on unverified historical data. - Positive factor: High-grade surface gold intercepts \(62.38 g/t Au\) - Positive factor: Widespread gold anomaly \(96% of samples\) - Positive factor: Structural continuity identified linking multiple targets - Positive factor: QA/QC protocols and accredited lab mentioned - Negative factor: Surface sampling is not necessarily representative - Negative factor: Historical data from Buenaventura 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: 62.38 g/t Au is exceptionally high for surface sampling. 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 accredited laboratory \(Certimin\) and specific QA/QC methods \(blanks, standards, duplicates\). Evidence · text > chain of custody was maintained to Certimin Laboratories, Lima \(accredited\). Excellon inserts blanks, certified reference materials and duplicates **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: The strategy relies on the structural link between Pierina, Shafra, and the Mallay Deeps targets. Evidence · text > The integration of Pierina, Shafra, and Mallay Deeps provides a more complete picture of Mallay's multi-phase mineralizing system. ## 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-extractions.minestarters.com/news/excellon-defines-multi-stage-gold-silver-system-linking-pierina-shafra-and-malla--586c912a-f2dc-4d95-a2b3-ff08962cfd7a#fact-drill-facts-0) Mallay Silver Mine · gold #### Identity - Project: Mallay Silver Mine - Commodity: gold - Region: peru - Reported Region: central Peru - Ticker: EXN #### Geometry - Grade: 62.38 - Grade Unit: g/t #### Classification - Program: exploration - Sample Type: surface #### Location - Location: Shafra Zone - Loc. Source: document #### QA/QC - Laboratory: Certimin Laboratories - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: blanks, standards, duplicates #### 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 grade for surface sampling, though representativeness is cautioned. - Positive factor: Exceptional grade for surface sampling - Negative factor: Surface grab samples are not necessarily representative Evidence · text > maximum value of 62.38 g/t Au #### Tags used in scoring **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: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### Fact 2 [Link to this fact](https://atlas-extractions.minestarters.com/news/excellon-defines-multi-stage-gold-silver-system-linking-pierina-shafra-and-malla--586c912a-f2dc-4d95-a2b3-ff08962cfd7a#fact-drill-facts-1) Mallay Silver Mine · gold #### Identity - Project: Mallay Silver Mine - Commodity: gold - Region: peru - Reported Region: central Peru - Ticker: EXN #### Geometry - Grade: 0.4 - Grade Unit: g/t #### Classification - Program: exploration - Sample Type: surface #### Location - Location: Shafra Zone - Loc. Source: document #### QA/QC - Laboratory: Certimin Laboratories - QA/QC Disclosed: Yes - Lab Certified: Yes - QP Signed: Yes - QA/QC Methods: blanks, standards, duplicates #### Review - Needs Review: No - Interp. Status: scored - Historical: No #### Dates - Event date: 2025-11-26T00:00:00.000Z Reasoning: Indicates widespread low-grade gold enrichment across the sampling area. - Positive factor: High percentage of anomalous samples Evidence · text > 22 % > 0.40 g/t Au #### Tags used in scoring **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: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ## 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.