Excellon Resources announces exploration progress at the Mallay silver mine in central Peru and its continued commitment to the development of its assets. Following the most recent geological work, the continuity of the Pierina vein below the current workings has been confirmed, supporting a deep intrusive target below the Shafra and Isguiz zones.
Exploration of the Mallay silver mine
The latest geological analysis has revealed an extension of the Pierina gold and silver vein and silver vein below the 4090 level, making this area a prime target for near-term exploration. In addition, surveys at the Shafra zone in 2025 have confirmed a footprint of gold and silver mineralization, with a circular anomaly 500 meters in diameter.
Surface sampling revealed that 96 % of the samples showed anomalous gold concentrations, with maximum values up to 62.38 g/t Au, supporting the interpretation that Shafra represents a surface extension of the mineralized system that forms the Pierina vein.
On the other hand, recent structural interpretations indicate that the Pierina, Shafra and Isguiz structures may merge at depth within the Santa Formation, a regionally important geological unit that hosts polymetallic mineralization in the area.
This geometry, together with the presence of breccias and marbleization, suggests that Mallay Deeps could be a skarn-type mineralization system, formed by the interaction of fluids with carbonate rocks and proximal intrusives.
To test the continuity of the Pierina vein at depth, Excellon has planned subway drilling of approximately 3,500 meters from the 4090 level. In addition, downhole geophysical surveys(DHEM) will be conducted beginning in the first quarter of 2026 to optimize drilling towards the Shafra and Mallay Deeps zones. In conjunction with these actions, additional drilling will be carried out at the Shafra zone to evaluate its gold potential at depth, totaling approximately 3,500 meters of drilling.
Excellon maintains strict quality and control protocols in the sampling process. All samples have been collected under documented procedures, and the chain of custody was maintained until analysis at
“The integration of Pierina, Shafra and Mallay Deeps provides a more complete view of the Mallay multiphase mineralized system.
The continuity of the Pierina vein, the strong gold potential at Shafra near surface, and possible feeder zones related to intrusives at depth provide us with a promising exploration portfolio.
This approach aligns with our broader strategy of restarting and growing within a strong silver and gold environment.”
Shawn Howarth, Excellon’s president and chief executive officer. Resources.
Excellon will continue its exploration work through additional drilling and 3D modeling to refine the geological framework at Shafra, Pierina and Isguiz. Diamond drilling will also be carried out at the Shafra zone to further evaluate the gold, silver and base metal mineralization to confirm the large gold potential of the area.
Source and photo: Excellon