Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) is
pleased to provide an update on the Company’s ongoing drilling
program at ELG Underground. The ELG Underground exploration
strategy is focused on expanding resources as well as extending and
optimizing the life of ELG Underground well beyond 2026.
Jody Kuzenko, President & CEO of Torex,
stated:
“We are excited about the latest assays from the
drilling program at ELG Underground as the high grade intercepts
continue to validate the long-term potential of this evolving
orebody. Importantly, as our understanding of the structural
controls matures, so does our confidence in our ability to continue
to replace reserves and resources and to significantly grow the
overall mineral endowment of the ELG Cluster. Our approach is to
systematically drill and demonstrate the expansion of known ore
shoots and target new mineralization through future exploration,
all with a view to extending and enhancing the mine plan and
further unlocking the significant cash generation capability of the
Morelos asset.”
HIGHLIGHTS
Infill drilling within ELG Underground continues
to deliver outstanding results which support upgrading Inferred
resources to the Indicated category. Additionally, advanced
exploration drilling following up on high grade intercepts
previously identified yielded impressive results that highlight the
potential to expand resources. The results reported confirm the
associated structural corridors of the ELG Underground, including
north-northwest (“NNW”) trends referred to as Sub-Sill, El Limón
Sur, and El Limón West as well as a northeast (“NE”)
trend referred to as El Limón Deep.
El Limón Sur Trend
-
Drill hole LS-293 returned 20.74 grams per tonne gold
equivalent (“gpt AuEq”) over 4.6 metres (“m”), being the
first subsequent hole of a program at the El Limón Sur Deep zone
post the previously reported high grade intercept from drill hole
LS-220 (88.92 gpt AuEq over 14.5 m). LS-293 confirms the continuity
and extension of the high-grade gold mineralization at El Limón Sur
Deep for another 100 m at depth.
-
Advanced exploration drilling where the El Limón Sur Trend
intersects the La Flaca fault returned multiple economic intercepts
including 11.75 gpt AuEq over 22.9 m in LDUG-239,
11.55 gpt AuEq over 14.9 m in LDUG-290,
10.03 gpt AuEq over 14.4 m in LDUG-296,
11.71 gpt AuEq over 8.9 m in LDUG-277,
11.36 gpt AuEq over 8.7 m in LDUG-308, and
8.13 gpt AuEq over 12.4 m in LDUG-280. Given the
results to date, this area represents a potential new mining front
within ELG Underground.
-
Resource delineation drilling below the northern wall of El Limón
Sur open pit was successful in confirming and extending high grade
mineralization outside of the current resource block model. Several
holes returned notable intercepts, including 44.93 gpt AuEq
over 8.2 m in LS-152, 28.50 gpt AuEq over 4.5
m in LS-149, 14.45 gpt AuEq over 14.0
m in LS-234, 11.38 gpt AuEq over 12.4
m in LS-272, and 11.37 gpt AuEq over 10.5
m in LS-276.
El Limón Deep Trend
-
Infill and step-out drilling continues to extend mineralization at
depth, with notable high grade intercepts including 33.91
gpt AuEq over 9.1 m in LDUG-256 and 35.81 gpt AuEq
over 4.8 m in LDUG-268. High grade mineralization appears
to be related to the intersection of the La Flaca fault with the
Sub-Sill Trend, highlighting the possibility to encounter
higher-grade mineralization where the La Flaca fault intersects the
other NNW-trending structural corridors.
Sub-Sill Trend
-
Infill drilling returned high grade intercepts within the extension
of the Sub-Sill zone including 19.45 gpt AuEq over
12.1 m and 21.32 gpt AuEq over 4.0
m in SST-312, and 23.32 gpt AuEq over 4.7
m in SST-313. Additionally, two holes drilled 250 m north
of the La Flaca fault encountered mineralization, opening the
exploration potential for additional mineralization to the
north.
El Limón West Trend
-
Three drill intercepts encountered mineralization along the El
Limón West Trend, indicating the potential for another new mining
front within ELG Underground. Notable results included LS-287 with
17.74 gpt AuEq over 5.4 m and 10.04 gpt
AuEq over 13.4 m as well as LS-229 with 6.90 gpt
AuEq over 3.4 m. These drill holes have extended the
continuity of mineralization 100 m to the south as well as 100 m
below the deepest hole drilled to date within this zone.
2023 ELG UNDERGROUND DRILLING PROGRAM
As of the end of September, approximately 54,600
m across 235 holes had been drilled as part of the 2023 ELG
brownfield and near-mine exploration and drilling programs,
representing 96% of the planned metres for the year. Year to date,
assay results have been received for 55% of the total holes
drilled.
Figure 1: Plan view of ELG Underground
including key structural trends (corridors)
With the additional drilling and evolving
interpretation of the geology of ELG Underground, it is believed
that there will be greater structural control of the mineralization
as the deposits get deeper. To date, at least three main NNW
structural corridors have been recognized and are assumed to be the
main feeders of the system. The intersection of these NNW
structures with the previously identified NE-trending faults (La
Flaca and Z71) appear to be responsible for the high grade ore
shoots identified to date.
During Q4, the priority will be to
systematically drill the El Limón Sur Trend, where the greatest
contribution of new ounces is expected. A geometric delineation
program will be carried out, aimed at defining the full extent of
the mineralization, which will be subject to resource
categorization at the end of 2024.
Assay results reported in this press release
include drill holes completed under the 2023 underground drilling
program for which assays were received post the cut-off date for
the July 11, 2023 press release (except drill hole LS-220 which was
previously reported). Detailed drill results are reported in Table
7 (El Limón Sur Trend), Table 8 (Sub-Sill Trend), Table 9 (El Limón
Deep Trend), and Table 10 (El Limón West Trend).
Drill hole intercepts are core lengths and not
true widths. AuEq grades use the same metal prices ($1,550/oz gold
(“Au”), $20/oz silver (“Ag”), and $3.50/lb copper (“Cu”)) and
metallurgical recoveries (90% Au, 86% Ag, and 93% Cu) used in the
year-end 2022 mineral resource estimate for ELG Underground (AuEq
(gpt) = Au (gpt) + Ag (gpt) * 0.0123 + Cu (%) * 1.6000).
EL LIMÓN SUR TREND (FIGURE 2)
The El Limón Sur Trend is a NNW-trending
structural corridor which hosts the El Limón Sur Deep and Sub-Sill
South zones as well as a developing new zone located where the
Trend intersects the La Flaca fault. Drilling along the El Limón
Sur Trend during 2023 has been focused on three key areas, with the
aim of extending the mineralized footprint to the northwest, the
southeast, and at depth, directions in which mineralization remains
open.
The first area of focus was follow-up drilling
around the high grade mineralization encountered at El Limón Sur
Deep which was outlined in the July 11, 2023 press release. The
most notable intercept from the latest round of drilling was
LS-293, which extended higher-grade mineralization 100 m below
LS-220, a previously-reported drill hole that returned 88.92 gpt
AuEq over 14.5 m. This area is a key focus given the potential to
extend higher-grade gold and copper mineralization at depth and to
the southeast (Figure 1, sector I).
Table 1: Highlights from the 2023
follow-up drilling program along the El Limón Sur
Trend
|
Drill Hole |
From(m) |
To(m) |
Core Length1(m) |
Au(gpt) |
Ag(gpt) |
Cu(%) |
AuEq2(gpt) |
|
LS-234 |
52.00 |
66.00 |
14.00 |
13.69 |
16.4 |
0.35 |
14.45 |
|
LS-293 |
270.75 |
275.38 |
4.63 |
20.10 |
44.9 |
0.06 |
20.74 |
Notes to Table:1) Intercepts are reported as core length (not
true width/thickness). Core lengths reflect drilling core
recovery.2) The gold equivalent grade calculation used is as
follows: AuEq (gpt) = Au (gpt) + Ag (gpt) * 0.0123 + Cu (%) *
1.6000 and use the same metal prices ($1,550/oz Au, $20/oz Ag, and
$3.50/lb Cu) and metallurgical recoveries (90% Au, 86% Ag, and 93%
Cu) used in the Mineral Resource estimate for ELG Underground.
The second area of focus along the El Limón Sur
Trend was a cluster of high-grade intercepts at the intersection of
the Trend and the La Flaca fault. Drilling within this area
returned multiple drill intercepts in excess of 10 gpt AuEq and
widths in excess of 10 m, which is encouraging for future resource
expansion. Several holes also returned impressive levels of copper
mineralization, indicating the potential to sweeten future copper
production once upgrades to the processing plant are completed as
part of the Media Luna Project in late 2024
(Figure 1, sector II).
This particular section of the El Limón Sur
Trend presents evidence of potentially being a main feeder of the
mineralized system. Previous drilling intersected high grade
mineralization at the 400 m level, indicating the potential for
continuous mineralization 250 m below where the majority of
drilling in this rapidly developing zone has been focused.
Table 2: Highlights from the 2023
advanced exploration program along the El Limón Sur
Trend
|
Drill Hole |
From(m) |
To(m) |
Core Length1(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
AuEq2(g/t) |
|
LDUG-239 |
177.16 |
200.07 |
22.91 |
10.94 |
12.0 |
0.41 |
11.75 |
|
LDUG-271 |
191.94 |
197.50 |
5.56 |
10.86 |
80.2 |
1.13 |
13.65 |
|
LDUG-277 |
226.27 |
235.14 |
8.87 |
10.86 |
10.8 |
0.45 |
11.71 |
|
LDUG-280 |
262.56 |
274.99 |
12.43 |
5.26 |
30.9 |
1.56 |
8.13 |
|
LDUG-281 |
177.27 |
183.35 |
6.08 |
5.48 |
11.0 |
0.32 |
6.13 |
|
LDUG-290 |
250.17 |
265.10 |
14.93 |
9.97 |
7.9 |
0.93 |
11.55 |
|
LDUG-296 |
190.61 |
204.96 |
14.35 |
9.17 |
9.3 |
0.47 |
10.03 |
|
LDUG-308 |
241.04 |
249.72 |
8.68 |
10.44 |
21.9 |
0.41 |
11.36 |
|
LS-267 |
55.70 |
65.00 |
9.30 |
3.48 |
58.7 |
3.90 |
10.44 |
Notes to Table:1) Intercepts are reported as core length (not
true width/thickness). Core lengths reflect drilling core
recovery.2) The gold equivalent grade calculation used is as
follows: AuEq (gpt) = Au (gpt) + Ag (gpt) * 0.0123 + Cu (%) *
1.6000 and use the same metal prices ($1,550/oz Au, $20/oz Ag, and
$3.50/lb Cu) and metallurgical recoveries (90% Au, 86% Ag, and 93%
Cu) used in the Mineral Resource estimate for ELG Underground.
The third area of focus was infill drilling with
the aim of upgrading and expanding resources within Sub-Sill South,
specifically below the El Limón Sur open pit. Drill results within
this area were better than anticipated with several holes returning
intercepts in excess of 10 gpt AuEq and widths in excess of 10 m.
This mineralization could be accessed via a subsequent expansion of
the El Limón Sur open pit or potentially through an expansion of
Sub-Sill South (Figure 1, sector III).
Table 3: Highlights from the 2023
resource delineation program along the El Limón Sur
Trend
|
Drill Hole |
From(m) |
To(m) |
Core Length1(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
AuEq2(g/t) |
|
LS-134 |
126.71 |
133.11 |
6.40 |
14.60 |
3.1 |
0.05 |
14.72 |
|
LS-137 |
112.54 |
119.25 |
6.71 |
21.24 |
5.8 |
0.08 |
21.44 |
|
LS-141 |
119.00 |
131.72 |
12.72 |
9.14 |
1.1 |
0.02 |
9.18 |
|
LS-149 |
10.00 |
14.45 |
4.45 |
28.34 |
4.4 |
0.07 |
28.50 |
|
LS-150 |
261.72 |
266.66 |
4.94 |
13.61 |
5.8 |
0.11 |
13.86 |
|
LS-151 |
7.30 |
20.00 |
12.70 |
15.45 |
5.5 |
0.01 |
15.54 |
|
LS-152 |
6.68 |
14.84 |
8.16 |
44.69 |
11.6 |
0.06 |
44.93 |
|
LS-153 |
213.00 |
220.18 |
7.18 |
9.60 |
4.3 |
0.08 |
9.79 |
|
LS-246 |
59.80 |
69.95 |
10.15 |
10.00 |
2.8 |
0.06 |
10.13 |
|
LS-248 |
39.06 |
50.00 |
10.94 |
10.54 |
4.1 |
0.06 |
10.69 |
|
LS-249 |
99.75 |
107.30 |
7.55 |
9.48 |
2.5 |
0.00 |
9.51 |
|
LS-269 |
35.60 |
47.80 |
12.20 |
7.59 |
5.0 |
0.26 |
8.07 |
|
LS-272 |
36.00 |
48.44 |
12.44 |
11.30 |
2.8 |
0.03 |
11.38 |
|
LS-274 |
56.14 |
71.57 |
15.43 |
4.98 |
10.9 |
0.25 |
5.51 |
|
LS-276 |
53.18 |
63.65 |
10.47 |
10.61 |
13.3 |
0.37 |
11.37 |
Notes to Table:1) Intercepts are reported as core length (not
true width/thickness). Core lengths reflect drilling core
recovery.2) The gold equivalent grade calculation used is as
follows: AuEq (gpt) = Au (gpt) + Ag (gpt) * 0.0123 + Cu (%) *
1.6000 and use the same metal prices ($1,550/oz Au, $20/oz Ag, and
$3.50/lb Cu) and metallurgical recoveries (90% Au, 86% Ag, and 93%
Cu) used in the Mineral Resource estimate for ELG Underground.
A key drilling focus for the remainder of 2023
is to test the continuity of mineralization across the El Limón
Sur Trend down to the 600 m level, which is approximately 300
m below the current level of mineralization at the Sub-Sill South
zone. If the continuity of the mineralization is confirmed, the
geological concept of the NNW-trending structural corridors will be
validated, and further drilling will be carried out to replicate
the results along the Sub-Sill Trend and El Limón West Trend as
well as at depth along the El Limón Sur Trend.
EL LIMÓN DEEP TREND (FIGURE 3)
The El Limón Deep Trend is a NE-trending
structural corridor, closely related to the La Flaca fault. Infill
and step-out drilling along the northeast corridor near the
intersection with the Sub-Sill Trend returned several impressive
intercepts, which indicate the potential to expand resources at
depth while upgrading Inferred resources to the Indicated category.
Notable holes include LDUG-256 and LDUG-268, which returned
intercepts with AuEq grades in excess of an ounce per tonne (Figure
1, sector IV).
Table 4: Highlights from the 2023
resource delineation program along the El Limón Deep
Trend
|
Drill Hole |
From(m) |
To(m) |
Core Length1(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
AuEq2(g/t) |
|
LDUG-250 |
117.44 |
125.00 |
7.56 |
5.29 |
2.0 |
0.01 |
5.32 |
|
LDUG-256 |
116.05 |
125.13 |
9.08 |
32.95 |
7.4 |
0.54 |
33.91 |
|
LDUG-259 |
82.19 |
87.52 |
5.33 |
3.39 |
19.2 |
1.45 |
5.95 |
|
LDUG-260 |
161.40 |
169.86 |
8.46 |
5.28 |
2.4 |
0.06 |
5.41 |
|
LDUG-262 |
78.00 |
83.00 |
5.00 |
7.17 |
8.6 |
0.46 |
8.01 |
|
LDUG-268 |
100.17 |
105.00 |
4.83 |
35.41 |
11.7 |
0.16 |
35.81 |
|
|
114.14 |
119.53 |
5.39 |
6.58 |
4.3 |
0.15 |
6.87 |
|
LDUG-276 |
189.74 |
198.00 |
8.26 |
1.17 |
51.0 |
1.45 |
4.11 |
Notes to Table:1) Intercepts are reported as core length (not
true width/thickness). Core lengths reflect drilling core
recovery.2) The gold equivalent grade calculation used is as
follows: AuEq (gpt) = Au (gpt) + Ag (gpt) * 0.0123 + Cu (%) *
1.6000 and use the same metal prices ($1,550/oz Au, $20/oz Ag, and
$3.50/lb Cu) and metallurgical recoveries (90% Au, 86% Ag, and 93%
Cu) used in the Mineral Resource estimate for ELG Underground.
The intersection of the NNW structural corridors
with the La Flaca fault will be a key area of focus for our 2024
brownfield exploration program.
SUB-SILL TREND (FIGURE 4)
The Sub-Sill Trend is a NNW-trending structural
corridor. Exploration drilling along the Sub-Sill Trend has been
limited by mining operations in the area. However, the resource
categorization drilling that has been conducted continues to
confirm the continuity of mineralization at depth and to the north
of the current mining areas (Figure 1, sector V).
Table 5: Highlights from the 2023
resource delineation program along the Sub-Sill Trend
|
Drill Hole |
From(m) |
To(m) |
Core Length1(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
AuEq2(g/t) |
|
LDUG-234 |
142.13 |
152.00 |
9.87 |
3.23 |
5.8 |
0.38 |
3.92 |
|
LDUG-241 |
156.73 |
159.76 |
3.03 |
2.49 |
5.8 |
0.50 |
3.35 |
|
SST-312 |
84.33 |
88.28 |
3.95 |
11.25 |
61.9 |
5.82 |
21.32 |
|
|
133.12 |
145.23 |
12.11 |
14.90 |
45.1 |
2.50 |
19.45 |
|
SST-313 |
151.27 |
155.96 |
4.69 |
23.18 |
9.3 |
0.01 |
23.32 |
Notes to Table:1) Intercepts are reported as core length (not
true width/thickness). Core lengths reflect drilling core
recovery.2) The gold equivalent grade calculation used is as
follows: AuEq (gpt) = Au (gpt) + Ag (gpt) * 0.0123 + Cu (%) *
1.6000 and use the same metal prices ($1,550/oz Au, $20/oz Ag, and
$3.50/lb Cu) and metallurgical recoveries (90% Au, 86% Ag, and 93%
Cu) used in the Mineral Resource estimate for ELG Underground.
Additionally, drilling at the northern end of
the Sub-Sill Trend (LDUG-234 and LDUG-241), 250 m from the
La Flaca fault, encountered mineralization above the resource
cut-off grade, which suggests the potential for a new zone of
mineralization. This zone is close to existing mine infrastructure
and could be developed quickly if the zone can be expanded through
future drilling and proven to be economic (Figure 1, sector
VI).
EL LIMÓN WEST TREND (FIGURE
5)
The El Limón West Trend is a NNW-trending
structural corridor that hosts a potential new underground mining
front below the El Limón Sur open pit. Drilling in this area has
been extremely successful in expanding the mineralized potential of
this evolving area of ELG Underground. Drill hole LS-229 was
successful in extending the known mineralized footprint more than
100 m at depth while drill hole LS-287 returned two high grade
intercepts which have extended the mineralized footprint 100 m to
the south, directions in which mineralization remains open (Figure
1, sector VII).
Table 6: Highlights from the 2023 drill
testing program along the El Limón West Trend
|
Drill Hole |
From(m) |
To(m) |
Core Length1(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
AuEq2(g/t) |
|
LS-229 |
338.00 |
341.38 |
3.38 |
2.36 |
65.2 |
2.33 |
6.90 |
|
LS-287 |
164.00 |
169.40 |
5.40 |
14.98 |
73.1 |
1.16 |
17.74 |
|
|
198.65 |
212.05 |
13.40 |
9.16 |
10.1 |
0.47 |
10.04 |
Notes to Table:1) Intercepts are reported as core length (not
true width/thickness). Core lengths reflect drilling core
recovery.2) The gold equivalent grade calculation used is as
follows: AuEq (gpt) = Au (gpt) + Ag (gpt) * 0.0123 + Cu (%) *
1.6000 and use the same metal prices ($1,550/oz Au, $20/oz Ag, and
$3.50/lb Cu) and metallurgical recoveries (90% Au, 86% Ag, and 93%
Cu) used in the Mineral Resource estimate for ELG Underground.
Development of a new mining front at El Limón
West could be accessed via future underground infrastructure at El
Limón Sur Deep, potentially via the bottom of the El Limón Sur open
pit or through the Guajes Tunnel, which passes approximately 300 m
to the south.
GEOLOGY OF THE ELG MINE
COMPLEX
The ELG Mine Complex, located in the central
part of the Guerrero Gold Belt in southwest Mexico, is hosted in
the Mesozoic carbonate-rich Morelos Platform, which has been
intruded by Paleocene granodiorite stocks, sills, dikes and
afterwards uplifted close to surface by maar-diatreme
complexes.
Skarn-hosted gold mineralization develops along
contacts of the intrusive rocks and carbonate-rich sedimentary
rocks of the Cuautla and Morelos formations, as well as along the
footwall contact of the Mezcala Formation. At depth, the
mineralization has a strong structural control related to the main
stages of deformation, with the collision of allochthonous terrain
being responsible for the major north-south faults, while the
almost east-west faulting is associated with the beginning of the
subduction process.
Gold mineralization at ELG occurs in special
association with a skarn body that was developed along a
2-kilometre-long corridor following the northeast contact of the
ELG granodiorite stock. The skarn zone that occurs at the marble
stratigraphic level of the Morelos Formation is in contact with
hornfels developed in the Mezcala Formation. At El Limón, skarn
mineralization is also structurally controlled by north-south and
north-east trending faults. Early-stage deposition corresponds to
skarn alteration and mineralization at ELG and is fairly typical of
calcic gold-skarn systems. Zones of coarse, massive,
garnet-dominant skarn appear within and along the stock margin,
with fine-grained pyroxene-dominant skarn more common at greater
distances from the contact with the stock. Significant gold
mineralization at ELG is spatially associated with the skarn,
preferentially occurring in pyroxene-rich exoskarn but also hosted
in garnet-rich endoskarn that has been affected by retrograde
alteration, which suggests that the most important gold event is
late stage and of epithermal origin.
Dykes and sills are found to crosscut the
hornfels and marble, along the structural trends mentioned above,
and are spatially associated with the skarn formation and in some
cases these are the ore controls of the main gold mineralization
stage at depth.
The style of mineralization at El Limón Deep, El
Limón Sur, Sub-Sill, and El Limón West trends is characterized by
gold with locally high silver and copper grades. Given that gold
precipitates due to the buffer exerted by the early stage of
calc-silicate alteration and sulfide mineralization, it is free and
generally dissociated from the previous copper event mainly related
to chalcopyrite.
QA/QC AND QUALIFIED PERSON
Torex maintains an industry-standard analytical
quality assurance and quality control (QA/QC) and data verification
program to monitor laboratory performance and ensure high-quality
assays. Results from this program confirm reliability of the assay
results. All sampling and analytical work for the mine exploration
program is performed by SGS de Mexico S.A. de C.V. (“SGS”) in
Durango, and by SGS at Minera Media Luna site facilities in Mexico.
Gold analyses comprise fire assays with atomic absorption or
gravimetric finish. External check assays for QA/QC purposes are
performed at ALS Chemex de Mexico S.A. de C.V.
The analytical QA/QC program is currently
overseen by Carlo Nasi, Chief Mine Geologist for Minera Media Luna,
S.A. de C.V.
Scientific and technical data contained in this
news release has been reviewed and approved by Carolina Milla,
P.Eng. Ms. Milla is a member of the Association of Professional
Engineers and Geoscientists of Alberta (Member ID #168350), has
experience relevant to the style of mineralization under
consideration, is a qualified person under NI 43-101, and is an
employee of Torex. Ms. Milla has verified the data disclosed,
including sampling, analytical, and test data underlying the drill
results; verification included visually reviewing the drill holes
in three dimensions, comparing the assay results to the original
assay certificates, reviewing the drilling database, and reviewing
core photography consistent with standard practice. Ms. Milla
consents to the inclusion in this release of said data in the form
and context in which they appear.
Additional information on the ELG Underground,
sampling and analyses, analytical labs, and methods used for data
verification is available in the Company’s technical report
entitled the “Morelos Property, NI 43-101 Technical Report, ELG
Mine Complex Life of Mine Plan and Media Luna Feasibility Study,
Guerrero State, Mexico”, dated effective March 16, 2022 filed on
March 31, 2022 (the “2022 Technical Report”) and in the annual
information form ("AIF") dated March 30, 2023, each filed on SEDAR
at www.sedar.com and the Company’s website at
www.torexgold.com.
ABOUT TOREX GOLD RESOURCES
INC.
Torex is an intermediate gold producer based in
Canada, engaged in the exploration, development, and operation of
its 100% owned Morelos Property, an area of 29,000 hectares in the
highly prospective Guerrero Gold Belt located 180 kilometres
southwest of Mexico City. The Company’s principal asset is the
Morelos Complex, which includes the El Limón Guajes (“ELG”) Mine
Complex, the Media Luna Project, a processing plant, and related
infrastructure. Commercial production from the Morelos Complex
commenced on April 1, 2016 and an updated Technical Report for the
Morelos Complex was released in March 2022. Torex’s key strategic
objectives are to optimize and extend production from the ELG Mine
Complex, de-risk and advance Media Luna to commercial production,
build on ESG excellence, and to grow through ongoing exploration
across the entire Morelos Property.
FOR FURTHER INFORMATION, PLEASE
CONTACT:
|
TOREX GOLD RESOURCES INC. |
|
| Jody
Kuzenko |
Dan Rollins |
| President and CEO |
Senior Vice President, Corporate
Development & Investor Relations |
| Direct: (647) 725-9982 |
Direct: (647) 260-1503 |
| jody.kuzenko@torexgold.com |
dan.rollins@torexgold.com |
| |
|
CAUTIONARY NOTES ON FORWARD LOOKING
STATEMENTSThis press release contains "forward-looking
statements" and "forward-looking information" within the meaning of
applicable Canadian securities legislation. Forward-looking
information also includes, but is not limited to, statements about:
the high grade intercepts from the drill program at ELG Underground
continue to validate the long-term potential of this evolving
orebody; as the Company’s understanding of the structural controls
matures, so does our confidence in our ability to continue to
replace reserves and resources and to significantly grow the
overall mineral endowment of the ELG Cluster; the Company’s view to
extending and enhancing the mine plan and further unlocking the
significant cash generation capability of the Morelos asset; infill
drilling within ELG Underground continues to deliver outstanding
results which support upgrading Inferred resources to the Indicated
category; advanced exploration drilling following up on high grade
intercepts previously identified yielded impressive results that
highlight the potential to expand Inferred resources; high grade
mineralization of the El Limón Deep Trend appears to be related to
the intersection of the La Flaca fault with the Sub-Sill Trend,
highlighting the possibility to encounter higher-grade
mineralization where the La Flaca fault intersects the other
north-northwest (NNW) trending structural corridors; two holes
drilled 250 m north of the La Flaca fault encountered
mineralization, opening the exploration potential for additional
mineralization to the north; three drill intercepts encountered
mineralization along the El Limón West Trend, indicating the
potential for another new mining front within ELG Underground; El
Limón Sur Deep is a key area of focus given the potential to extend
higher-grade gold and copper mineralization at depth and to the
southeast; the second area of focus along the El Limón Sur Trend
was a cluster of high-grade intercepts at the intersection of the
Trend and the La Flaca fault; drilling within this area returned
multiple drill intercepts in excess of 10 gpt AuEq and widths in
excess of 10 m, which is encouraging for future resource expansion;
several holes also returned impressive levels of copper
mineralization, indicating the potential to sweeten future copper
production once upgrades to the processing plant are completed as
part of the Media Luna Project in late 2024; previous drilling
intersected high grade mineralization at the 400 m level,
indicating the potential for continuous mineralization 250 m below
where the majority of drilling in this rapidly developing zone has
been focused; the third area of focus was infill drilling with the
aim of upgrading and expanding resources within Sub-Sill South,
specifically below the El Limón Sur open pit; infill and step-out
drilling along the northeast corridor near the intersection with
the Sub-Sill Trend returned several impressive intercepts, which
indicate the potential to expand resources at depth while upgrading
Inferred resources to the Indicated category; drilling at the
northern end of the Sub-Sill Trend (LDUG-234 and LDUG-241), 250 m
from the La Flaca fault, encountered mineralization above the
resource cut-off grade, which suggests the potential for a new zone
of mineralization; this zone is close to existing mine
infrastructure and should be able to be developed quickly if the
zone can be expanded through future drilling and proven to be
economic; the El Limón West Trend is a NNW-trending structural
corridor that hosts a potential new underground mining front below
the El Limón Sur open pit; drill hole LS-229 was successful in
extending the known mineralized footprint more than 100 m at depth
while drill hole LS-287 returned two high grade intercepts which
have extended the mineralized footprint 100 m to the south,
directions in which mineralization remains open; development of a
new mining front at El Limón West could be accessed via future
underground infrastructure at El Limón Sur Deep zone, potentially
via the bottom of the El Limón Sur open pit or through the Guajes
Tunnel, which passes approximately 300 m to the south; and the
Company’s key strategic objectives to extend and optimize
production from the ELG Mining Complex, de-risk and advance Media
Luna to commercial production, build on ESG excellence, and to grow
through ongoing exploration across the entire Morelos Property.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as “objective”, “strategy”,
“target”, “continue”, “potential”, “focus”, “demonstrate”, “aim” or
variations of such words and phrases or statements that certain
actions, events or results “will”, “would”, or “is expected to"
occur. Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the
Company to be materially different from those expressed or implied
by such forward-looking information, including, without limitation,
risks and uncertainties associated with: the ability to upgrade
mineral resources categories of mineral resources with greater
confidence levels or to mineral reserves; risks associated with
mineral reserve and mineral resource estimation; uncertainty
involving skarn deposits; and those risk factors identified in the
Technical Report and the Company’s annual information form and
management’s discussion and analysis or other unknown but
potentially significant impacts. Forward-looking information is
based on the assumptions discussed in the Technical Report and such
other reasonable assumptions, estimates, analysis and opinions of
management made in light of its experience and perception of
trends, current conditions and expected developments, and other
factors that management believes are relevant and reasonable in the
circumstances at the date such statements are made. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially from those contained in
the forward-looking information, there may be other factors that
cause results not to be as anticipated. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update any forward-looking information, whether as a
result of new information or future events or otherwise, except as
may be required by applicable securities laws.
Figure 2: Drilling along the El Limón
Sur Trend highlights the potential to extend mineralization at
depth at El Limón Sur Deep, expand resources at Sub-Sill South, and
highlights a potential new mining front along trend to the
northwest
Figure 3: Step-out and infill drilling
continue to extend mineralization at depth at ELD
Figure 4: Infill drilling returned high
grade intercepts within the extension of Sub-Sill and encountered
mineralization 250 m north of the La Flaca fault
Figure 5: Three new drill holes
encountered mineralization along the El Limón West Trend, expanding
the exploration potential for another new mining front within ELG
Underground
Table 7: Drill results testing mineralization extensions
along the El Limón Sur Trend
|
|
|
|
|
|
|
|
Final |
Intercept |
|
|
Drill Hole |
Program |
UTM-E |
UTM-N |
Elevation |
Azimuth |
Dip |
Depth |
From |
To |
Core Length |
Au |
Ag |
Cu |
AuEq |
Lithology |
|
|
|
(m) |
(m) |
(m) |
(°) |
(°) |
(m) |
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
(g/t) |
|
|
LS-133 |
Step-Out |
422137.63 |
1989681.25 |
1085.17 |
260.0 |
-86.0 |
180.00 |
166.00 |
169.00 |
3.00 |
0.85 |
1.5 |
0.06 |
0.96 |
Skarn/MSO |
|
LS-134 |
Infill |
422176.41 |
1989597.30 |
1074.32 |
260.0 |
-66.0 |
149.00 |
77.71 |
81.46 |
3.75 |
13.50 |
2.6 |
0.01 |
13.55 |
Skarn |
|
|
|
|
|
|
|
|
|
126.71 |
133.11 |
6.40 |
14.60 |
3.1 |
0.05 |
14.72 |
Skarn |
|
LS-135 |
Step-Out |
422176.72 |
1989597.30 |
1074.29 |
260.0 |
-77.0 |
188.00 |
32.42 |
41.63 |
9.21 |
7.95 |
1.7 |
0.01 |
7.99 |
Skarn |
|
|
|
|
|
|
|
|
|
54.87 |
58.76 |
3.89 |
8.74 |
2.7 |
0.01 |
8.79 |
Skarn |
|
LS-136 |
Infill |
422144.88 |
1989651.18 |
1080.80 |
260.0 |
-86.0 |
189.00 |
139.46 |
144.00 |
4.54 |
2.60 |
2.6 |
0.00 |
2.64 |
Skarn |
|
LS-137 |
Infill |
422150.13 |
1989622.43 |
1077.54 |
260.0 |
-80.0 |
203.00 |
112.54 |
119.25 |
6.71 |
21.24 |
5.8 |
0.08 |
21.44 |
Skarn |
|
|
|
|
|
|
|
|
|
139.22 |
146.68 |
7.46 |
4.33 |
1.4 |
0.04 |
4.41 |
Skarn |
|
LS-138 |
Step-Out |
422150.91 |
1989623.02 |
1077.57 |
80.0 |
-45.0 |
203.00 |
61.78 |
67.08 |
5.30 |
0.16 |
0.5 |
0.01 |
0.18 |
Skarn |
|
|
|
|
|
|
|
|
|
152.46 |
155.35 |
2.89 |
0.25 |
12.2 |
0.66 |
1.46 |
Skarn |
|
LS-139 |
Step-Out |
422149.51 |
1989622.77 |
1077.65 |
80.0 |
-67.0 |
101.00 |
89.15 |
92.00 |
2.85 |
2.12 |
0.5 |
0.00 |
2.13 |
Skarn |
|
LS-140 |
Step-Out |
422148.76 |
1989622.63 |
1077.67 |
80.0 |
-88.0 |
155.50 |
105.03 |
109.14 |
4.11 |
6.46 |
5.8 |
0.00 |
6.53 |
Skarn |
|
LS-141 |
Infill |
422150.08 |
1989622.01 |
1077.59 |
260.0 |
-73.0 |
218.00 |
119.00 |
131.72 |
12.72 |
9.14 |
1.1 |
0.02 |
9.18 |
Skarn |
|
|
|
|
|
|
|
|
|
144.94 |
152.07 |
7.13 |
7.96 |
7.8 |
0.11 |
8.22 |
Skarn |
|
LS-142 |
Infill |
422137.95 |
1989681.18 |
1085.11 |
80.0 |
-84.0 |
229.00 |
153.31 |
157.80 |
4.49 |
5.44 |
2.7 |
0.06 |
5.57 |
Skarn |
|
LS-143 |
Step-Out |
422144.69 |
1989652.49 |
1080.79 |
260.0 |
-78.0 |
207.00 |
146.33 |
149.78 |
3.45 |
1.03 |
3.5 |
0.08 |
1.19 |
Skarn |
|
LS-144 |
Step-Out |
422139.25 |
1989682.58 |
1085.52 |
260.0 |
-76.0 |
198.00 |
137.08 |
141.29 |
4.21 |
2.47 |
0.5 |
0.01 |
2.49 |
Skarn |
|
LS-145 |
Infill |
422176.41 |
1989597.78 |
1074.35 |
260.0 |
-56.0 |
219.00 |
165.09 |
171.20 |
6.11 |
3.87 |
1.4 |
0.06 |
3.99 |
Skarn |
| |
|
|
|
|
|
|
|
177.18 |
182.08 |
4.90 |
10.52 |
4.4 |
0.02 |
10.61 |
Skarn |
|
|
|
|
|
|
|
|
|
204.50 |
209.65 |
5.15 |
3.98 |
3.9 |
0.01 |
4.05 |
Skarn |
|
LS-146 |
Infill |
422149.99 |
1989623.49 |
1077.64 |
260.0 |
-64.0 |
210.00 |
122.57 |
136.03 |
13.46 |
5.10 |
1.2 |
0.00 |
5.12 |
Skarn |
|
|
|
|
|
|
|
|
|
156.94 |
160.00 |
3.06 |
4.59 |
2.0 |
0.07 |
4.73 |
Skarn |
|
LS-147 |
Infill |
422140.74 |
1989670.39 |
1083.92 |
260.0 |
-82.0 |
180.00 |
150.13 |
155.63 |
5.50 |
4.63 |
1.2 |
0.03 |
4.69 |
Skarn |
|
LS-148 |
Step-Out |
422139.96 |
1989666.50 |
1083.00 |
260.0 |
-73.0 |
193.00 |
167.05 |
171.64 |
4.59 |
1.17 |
4.2 |
0.03 |
1.27 |
Skarn |
|
LS-149 |
Step-Out |
422238.35 |
1989576.83 |
1067.52 |
260.0 |
-61.0 |
189.00 |
10.00 |
14.45 |
4.45 |
28.34 |
4.4 |
0.07 |
28.50 |
Skarn |
|
|
|
|
|
|
|
|
|
93.00 |
98.86 |
5.86 |
4.75 |
0.5 |
0.01 |
4.77 |
Skarn |
|
LS-150 |
Infill |
422123.97 |
1989739.17 |
1090.99 |
260.0 |
-84.0 |
290.00 |
209.00 |
216.00 |
7.00 |
4.29 |
3.3 |
0.41 |
4.99 |
Skarn |
| |
|
|
|
|
|
|
|
220.38 |
244.42 |
24.04 |
3.66 |
1.5 |
0.04 |
3.75 |
Skarn |
|
|
|
|
|
|
|
|
|
261.72 |
266.66 |
4.94 |
13.61 |
5.8 |
0.11 |
13.86 |
Skarn |
|
LS-151 |
Infill |
422215.25 |
1989587.95 |
1069.90 |
260.0 |
-49.0 |
189.00 |
7.30 |
20.00 |
12.70 |
15.45 |
5.5 |
0.01 |
15.54 |
Skarn |
|
|
|
|
|
|
|
|
|
148.00 |
151.39 |
3.39 |
35.74 |
8.0 |
0.06 |
35.94 |
Skarn |
|
LS-152 |
Step-Out |
422215.66 |
1989588.07 |
1069.54 |
260.0 |
-59.0 |
177.00 |
6.68 |
14.84 |
8.16 |
44.69 |
11.6 |
0.06 |
44.93 |
Skarn |
|
LS-153 |
Infill |
422139.60 |
1989681.35 |
1085.47 |
260.0 |
-68.0 |
231.00 |
178.62 |
188.00 |
9.38 |
4.53 |
6.1 |
0.15 |
4.85 |
Skarn |
| |
|
|
|
|
|
|
|
194.38 |
199.86 |
5.48 |
9.44 |
6.4 |
0.14 |
9.74 |
Skarn |
| |
|
|
|
|
|
|
|
213.00 |
220.18 |
7.18 |
9.60 |
4.3 |
0.08 |
9.79 |
Skarn |
|
|
|
|
|
|
|
|
|
227.32 |
231.00 |
3.68 |
5.72 |
1.1 |
0.00 |
5.74 |
Veinlets GDI |
|
LS-154 |
Infill |
422143.81 |
1989652.29 |
1080.60 |
260.0 |
-79.0 |
203.50 |
129.76 |
136.52 |
6.76 |
5.12 |
0.9 |
0.02 |
5.16 |
Skarn |
|
LS-155 |
Infill |
422161.81 |
1989609.76 |
1076.44 |
260.0 |
-76.0 |
213.00 |
135.79 |
140.50 |
4.71 |
6.68 |
1.6 |
0.04 |
6.77 |
Skarn |
|
LS-156 |
Infill |
422161.33 |
1989609.55 |
1076.33 |
260.0 |
-66.0 |
197.00 |
84.16 |
88.39 |
4.23 |
9.04 |
1.8 |
0.03 |
9.12 |
Skarn |
| |
|
|
|
|
|
|
|
111.55 |
119.09 |
7.54 |
2.57 |
0.8 |
0.02 |
2.61 |
Skarn |
|
|
|
|
|
|
|
|
|
146.66 |
154.69 |
8.03 |
6.69 |
2.1 |
0.07 |
6.83 |
Skarn |
|
LS-157 |
Step-Out |
422161.79 |
1989609.11 |
1076.05 |
80.0 |
-78.0 |
111.00 |
81.78 |
85.83 |
4.05 |
0.44 |
0.5 |
0.01 |
0.46 |
Skarn |
|
LS-158 |
Infill |
422162.00 |
1989609.54 |
1076.01 |
260.0 |
-86.0 |
222.00 |
119.50 |
123.26 |
3.76 |
3.59 |
0.7 |
0.00 |
3.60 |
Skarn |
|
LS-159 |
Step-Out |
422147.81 |
1989637.07 |
1079.12 |
260.0 |
-73.0 |
176.00 |
98.44 |
102.00 |
3.56 |
1.81 |
0.5 |
0.00 |
1.82 |
Skarn |
|
LS-234 |
Infill |
422176.83 |
1989292.14 |
959.85 |
80.0 |
-45.0 |
99.00 |
52.00 |
66.00 |
14.00 |
13.69 |
16.4 |
0.35 |
14.45 |
Skarn |
|
|
|
|
|
|
|
|
|
58.00 |
62.00 |
4.00 |
27.00 |
31.3 |
0.66 |
28.43 |
Skarn |
|
LS-235 |
Infill |
422195.44 |
1989340.99 |
956.38 |
80.0 |
-47.0 |
60.00 |
22.35 |
29.00 |
6.65 |
2.69 |
0.5 |
0.01 |
2.71 |
Skarn/ veinlets GDI |
|
LS-236 |
Infill |
422193.35 |
1989355.55 |
956.08 |
80.0 |
-46.0 |
51.00 |
22.00 |
27.00 |
5.00 |
0.35 |
1.1 |
0.03 |
0.41 |
Skarn |
|
LS-237 |
Infill |
422192.88 |
1989371.73 |
956.15 |
80.0 |
-48.0 |
42.00 |
16.42 |
20.78 |
4.36 |
1.04 |
2.9 |
0.08 |
1.20 |
Skarn |
|
LS-238 |
Infill |
422180.53 |
1989384.52 |
955.92 |
80.0 |
-45.0 |
48.00 |
27.07 |
32.45 |
5.38 |
0.32 |
1.1 |
0.03 |
0.38 |
Skarn |
|
LS-239 |
Infill |
422165.02 |
1989323.92 |
954.80 |
83.0 |
-61.0 |
126.00 |
84.05 |
90.00 |
5.95 |
2.56 |
3.1 |
0.08 |
2.73 |
Skarn |
|
|
|
|
|
|
|
|
|
97.00 |
104.00 |
7.00 |
3.05 |
2.4 |
0.06 |
3.18 |
Skarn |
|
LS-240 |
Infill |
422160.99 |
1989609.85 |
1076.14 |
260.0 |
-59.5 |
168.00 |
115.52 |
123.49 |
7.97 |
1.30 |
0.5 |
0.01 |
1.32 |
Skarn |
|
LS-241 |
Infill |
422148.45 |
1989637.89 |
1079.00 |
260.0 |
-65.5 |
162.00 |
117.47 |
120.66 |
3.19 |
2.46 |
0.5 |
0.00 |
2.47 |
Skarn |
|
LS-243 |
Infill |
422146.98 |
1989637.70 |
1079.06 |
80.0 |
-84.0 |
123.00 |
106.00 |
111.68 |
5.68 |
5.39 |
2.6 |
0.04 |
5.49 |
Skarn |
|
LS-244 |
Infill |
422146.97 |
1989637.86 |
1079.17 |
80.0 |
-86.5 |
165.00 |
108.00 |
116.00 |
8.00 |
1.09 |
0.9 |
0.03 |
1.15 |
Skarn |
|
LS-245 |
Infill |
422159.07 |
1989609.72 |
1076.27 |
80.0 |
-66.0 |
90.00 |
70.44 |
75.00 |
4.56 |
1.32 |
3.2 |
0.13 |
1.57 |
Skarn |
|
LS-246 |
Infill |
422162.84 |
1989610.29 |
1075.97 |
80.0 |
-45.0 |
78.00 |
59.80 |
69.95 |
10.15 |
10.00 |
2.8 |
0.06 |
10.13 |
Skarn |
|
LS-248 |
Infill |
422190.10 |
1989599.41 |
1073.14 |
80.0 |
-45.0 |
70.00 |
39.06 |
50.00 |
10.94 |
10.54 |
4.1 |
0.06 |
10.69 |
Skarn |
|
LS-249 |
Infill |
422148.97 |
1989622.34 |
1077.61 |
80.0 |
-79.0 |
147.00 |
99.75 |
107.30 |
7.55 |
9.48 |
2.5 |
0.00 |
9.51 |
Skarn |
|
LS-250 |
Infill |
422216.27 |
1989588.65 |
1069.54 |
0.0 |
-90.0 |
78.00 |
33.82 |
42.09 |
8.27 |
3.79 |
3.8 |
0.23 |
4.20 |
Skarn |
|
LS-251 |
Infill |
422217.19 |
1989589.14 |
1069.33 |
80.0 |
-45.0 |
45.00 |
19.15 |
29.78 |
10.63 |
4.06 |
1.0 |
0.01 |
4.09 |
Skarn |
|
|
|
|
|
|
|
|
|
37.49 |
41.08 |
3.59 |
7.87 |
11.6 |
0.67 |
9.08 |
Skarn |
|
LS-252 |
Infill |
422149.95 |
1989622.50 |
1077.63 |
80.0 |
-56.5 |
87.00 |
69.58 |
72.95 |
3.37 |
0.85 |
0.5 |
0.01 |
0.87 |
Skarn |
|
LS-255 |
Infill |
422149.57 |
1989623.57 |
1077.64 |
260.0 |
-60.0 |
162.00 |
132.00 |
138.55 |
6.55 |
3.53 |
1.0 |
0.02 |
3.57 |
Skarn |
|
LS-256 |
Infill |
422133.59 |
1989543.41 |
1033.31 |
80.0 |
-75.0 |
72.00 |
25.00 |
29.91 |
4.91 |
3.07 |
0.8 |
0.02 |
3.11 |
Skarn |
|
LS-257 |
Infill |
422166.59 |
1989553.19 |
1036.38 |
87.0 |
-55.0 |
75.00 |
52.73 |
57.00 |
4.27 |
12.45 |
6.8 |
0.28 |
12.98 |
Skarn |
|
LS-260 |
Infill |
422176.08 |
1989530.37 |
1028.93 |
125.0 |
-59.0 |
79.00 |
55.00 |
59.00 |
4.00 |
2.20 |
16.8 |
0.57 |
3.32 |
Skarn |
|
|
|
|
|
|
|
|
|
67.00 |
73.00 |
6.00 |
2.95 |
10.8 |
0.80 |
4.36 |
Skarn |
|
LS-263 |
Infill |
422214.34 |
1989511.64 |
1023.83 |
260.0 |
-82.0 |
52.00 |
0.00 |
6.78 |
6.78 |
2.05 |
12.5 |
0.48 |
2.97 |
Skarn |
| |
|
|
|
|
|
|
|
14.84 |
19.20 |
4.36 |
5.62 |
69.3 |
2.98 |
11.24 |
Skarn |
|
|
|
|
|
|
|
|
|
43.00 |
50.39 |
7.39 |
1.97 |
15.8 |
0.65 |
3.20 |
Skarn |
|
LS-265 |
Infill |
422215.88 |
1989512.21 |
1023.61 |
80.0 |
-60.0 |
36.00 |
6.82 |
13.08 |
6.26 |
1.80 |
1.4 |
0.05 |
1.90 |
Skarn |
|
LS-267 |
Infill |
422179.49 |
1989535.79 |
1028.62 |
80.0 |
-64.0 |
72.00 |
41.70 |
47.00 |
5.30 |
2.76 |
7.7 |
0.27 |
3.29 |
Skarn |
|
|
|
|
|
|
|
|
|
55.70 |
65.00 |
9.30 |
3.48 |
58.7 |
3.90 |
10.44 |
Skarn / Breccia |
|
LS-268 |
Infill |
422160.56 |
1989471.72 |
986.28 |
80.0 |
-48.0 |
50.00 |
4.00 |
15.00 |
11.00 |
2.74 |
7.2 |
0.33 |
3.36 |
Skarn |
|
|
|
|
|
|
|
|
|
35.13 |
41.63 |
6.50 |
5.44 |
2.4 |
0.03 |
5.52 |
Skarn |
|
LS-269 |
Infill |
422182.27 |
1989536.37 |
1028.53 |
80.0 |
-43.0 |
60.00 |
35.60 |
47.80 |
12.20 |
7.59 |
5.0 |
0.26 |
8.07 |
Skarn |
|
LS-270 |
Infill |
422165.58 |
1989461.67 |
984.94 |
110.0 |
-60.0 |
81.00 |
40.08 |
53.00 |
12.92 |
2.67 |
2.7 |
0.05 |
2.78 |
Skarn |
|
LS-271 |
Infill |
422120.10 |
1989457.00 |
991.02 |
90.0 |
-56.0 |
78.00 |
52.00 |
58.67 |
6.67 |
5.94 |
5.8 |
0.12 |
6.20 |
Skarn |
|
LS-272 |
Infill |
422221.60 |
1989423.00 |
976.91 |
260.0 |
-60.0 |
71.00 |
36.00 |
48.44 |
12.44 |
11.30 |
2.8 |
0.03 |
11.38 |
Skarn |
|
LS-273 |
Infill |
422227.60 |
1989409.00 |
975.14 |
260.0 |
-68.0 |
66.00 |
53.30 |
57.30 |
4.00 |
0.23 |
8.5 |
0.16 |
0.59 |
Skarn |
|
LS-274 |
Infill |
422119.90 |
1989456.00 |
990.90 |
114.0 |
-54.0 |
78.00 |
56.14 |
71.57 |
15.43 |
4.98 |
10.9 |
0.25 |
5.51 |
Skarn |
|
|
|
|
|
|
|
|
|
56.14 |
60.16 |
4.02 |
16.89 |
30.1 |
0.66 |
18.32 |
Skarn |
|
LS-275 |
Infill |
422226.92 |
1989408.58 |
975.38 |
260.0 |
-54.0 |
72.00 |
38.50 |
46.97 |
8.47 |
1.62 |
25.1 |
0.55 |
2.81 |
Skarn |
|
LS-276 |
Infill |
422119.30 |
1989457.00 |
990.96 |
104.0 |
-62.5 |
105.00 |
53.18 |
63.65 |
10.47 |
10.61 |
13.3 |
0.37 |
11.37 |
Skarn |
|
|
|
|
|
|
|
|
|
55.00 |
60.00 |
5.00 |
21.14 |
21.0 |
0.64 |
22.43 |
Skarn |
|
LS-280 |
Infill |
422256.26 |
1989634.37 |
1113.38 |
55.0 |
-75.0 |
58.70 |
18.28 |
22.16 |
3.88 |
0.88 |
0.5 |
0.00 |
0.89 |
Skarn |
|
LS-282 |
Infill |
422252.79 |
1989632.85 |
1113.03 |
271.5 |
-66.0 |
102.00 |
43.49 |
47.05 |
3.56 |
1.78 |
0.5 |
0.00 |
1.79 |
Skarn |
|
LS-283 |
Infill |
422191.77 |
1989660.90 |
1105.13 |
112.5 |
-71.0 |
111.00 |
70.81 |
74.03 |
3.22 |
0.16 |
0.5 |
0.00 |
0.17 |
Skarn |
|
LS-293 |
Step-Out |
422115.00 |
1989265.80 |
927.20 |
80.0 |
-66.0 |
285.00 |
270.75 |
275.38 |
4.63 |
20.10 |
44.9 |
0.06 |
20.74 |
Skarn |
|
LDUG-236 |
Step-Out |
421951.89 |
1990113.72 |
948.14 |
190.0 |
-85.5 |
315.00 |
242.90 |
246.00 |
3.10 |
0.03 |
10.9 |
1.42 |
2.44 |
MSO |
|
LDUG-239 |
Step-Out |
421953.81 |
1990114.56 |
948.28 |
141.0 |
-61.0 |
258.00 |
177.16 |
200.07 |
22.91 |
10.94 |
12.0 |
0.41 |
11.75 |
Skarn |
|
LDUG-242 |
Step-Out |
421950.81 |
1990116.56 |
948.63 |
275.0 |
-83.0 |
270.00 |
248.59 |
252.00 |
3.41 |
0.19 |
13.4 |
0.51 |
1.18 |
Skarn |
|
LDUG-266 |
Step-Out |
421980.48 |
1990161.82 |
948.32 |
137.0 |
-72.0 |
270.00 |
175.98 |
180.48 |
4.50 |
3.72 |
9.9 |
0.89 |
5.26 |
Skarn |
|
LDUG-271 |
Step-Out |
421978.83 |
1990161.32 |
947.33 |
141.0 |
-80.0 |
222.00 |
191.94 |
197.50 |
5.56 |
10.86 |
80.2 |
1.13 |
13.65 |
Skarn |
|
LDUG-273 |
Step-Out |
421977.59 |
1990161.48 |
947.41 |
185.0 |
-88.0 |
252.00 |
176.91 |
180.82 |
3.91 |
4.60 |
23.4 |
0.58 |
5.81 |
Skarn |
|
LDUG-277 |
Step-Out |
421978.07 |
1990161.36 |
947.32 |
134.0 |
-65.5 |
318.00 |
226.27 |
235.14 |
8.87 |
10.86 |
10.8 |
0.45 |
11.71 |
Skarn |
|
LDUG-279 |
Step-Out |
421994.07 |
1990231.43 |
946.89 |
190.5 |
-77.5 |
261.00 |
180.65 |
184.40 |
3.75 |
4.00 |
17.7 |
1.06 |
5.92 |
Skarn |
|
LDUG-280 |
Step-Out |
422176.56 |
1990136.75 |
676.04 |
235.0 |
0.0 |
312.00 |
192.41 |
197.11 |
4.70 |
4.48 |
1.4 |
0.02 |
4.54 |
Skarn |
|
|
|
|
|
|
|
|
|
262.56 |
274.99 |
12.43 |
5.26 |
30.9 |
1.56 |
8.13 |
Skarn |
|
LDUG-281 |
Step-Out |
421994.58 |
1990231.23 |
946.92 |
154.5 |
-67.0 |
252.00 |
177.27 |
183.35 |
6.08 |
5.48 |
11.0 |
0.32 |
6.13 |
Skarn |
|
LDUG-288 |
Step-Out |
421911.80 |
1990095.42 |
948.28 |
196.0 |
-81.0 |
393.00 |
247.50 |
252.57 |
5.07 |
3.48 |
23.1 |
1.16 |
5.63 |
Skarn |
|
LDUG-290 |
Step-Out |
421913.31 |
1990095.31 |
948.19 |
155.0 |
-69.5 |
312.00 |
250.17 |
265.10 |
14.93 |
9.97 |
7.9 |
0.93 |
11.55 |
Skarn |
|
LDUG-296 |
Step-Out |
421952.02 |
1990113.67 |
948.24 |
167.0 |
-80.0 |
222.00 |
190.61 |
204.96 |
14.35 |
9.17 |
9.3 |
0.47 |
10.03 |
Skarn |
|
LDUG-308 |
Step-Out |
421953.99 |
1990115.26 |
948.29 |
120.0 |
-62.0 |
306.00 |
241.04 |
249.72 |
8.68 |
10.44 |
21.9 |
0.41 |
11.36 |
Skarn |
|
SST-283 |
Infill |
422103.90 |
1989762.96 |
1092.19 |
66.0 |
-70.0 |
219.00 |
171.29 |
176.50 |
5.21 |
3.29 |
5.9 |
0.10 |
3.52 |
Skarn |
|
|
|
|
|
|
|
|
|
201.00 |
210.78 |
9.78 |
5.08 |
13.4 |
0.36 |
5.82 |
Skarn |
|
SST-317 |
Step-Out |
421954.35 |
1990114.67 |
948.07 |
124.0 |
-59.0 |
432.00 |
149.70 |
153.62 |
3.92 |
4.53 |
8.5 |
0.26 |
5.06 |
Skarn |
| |
|
|
|
|
|
|
|
188.80 |
196.33 |
7.53 |
3.89 |
12.6 |
0.51 |
4.86 |
Skarn |
|
|
|
|
|
|
|
|
|
216.88 |
222.82 |
5.94 |
3.33 |
8.0 |
0.14 |
3.65 |
Skarn |
Notes to Table1) Intercepts are core lengths and do not
represent true thickness of mineralized zones.2) Core lengths
subject to rounding.3) Torex is not aware of any drilling,
sampling, recovery, or other factors that could materially affect
the accuracy or reliability of the data.4) Gold equivalent (“AuEq”)
grades use the same metal prices ($1,550/oz gold (“Au”), $20/oz
silver (“Ag”) and $3.50/lb copper (“Cu”)) and metallurgical
recoveries (90% Au, 86% Ag and 93% Cu) used in the Mineral Resource
estimate for ELG Underground (AuEq (gpt) = Au (g/t) + Ag (gpt) *
0.0123 + Cu (%) * 1.6000).
Table 8: Drill results from step-out drilling at depth
and to the north along the Sub-Sill Trend
|
|
|
|
|
|
|
|
Final |
Intercept |
|
|
Drill Hole |
Program |
UTM-E |
UTM-N |
Elevation |
Azimuth |
Dip |
Depth |
From |
To |
Core Length |
Au |
Ag |
Cu |
AuEq |
Lithology |
|
|
|
(m) |
(m) |
(m) |
(°) |
(°) |
(m) |
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
(g/t) |
|
| SST-312 |
Step-Out |
422333.30 |
1990194.01 |
683.32 |
144.0 |
-15.0 |
246.00 |
84.33 |
88.28 |
3.95 |
11.25 |
61.9 |
5.82 |
21.32 |
Skarn |
| |
|
|
|
|
|
|
|
133.12 |
145.23 |
12.11 |
14.90 |
45.1 |
2.50 |
19.45 |
Skarn |
| SST-313 |
Step-Out |
422331.82 |
1990193.86 |
682.47 |
205.5 |
-37.5 |
231.00 |
151.27 |
155.96 |
4.69 |
23.18 |
9.3 |
0.01 |
23.32 |
Skarn |
Notes to Table1) Intercepts are core lengths and do not
represent true thickness of mineralized zones.2) Core lengths
subject to rounding.3) Torex is not aware of any drilling,
sampling, recovery, or other factors that could materially affect
the accuracy or reliability of the data.4) Gold equivalent (“AuEq”)
grades use the same metal prices ($1,550/oz gold (“Au”), $20/oz
silver (“Ag”) and $3.50/lb copper (“Cu”)) and metallurgical
recoveries (90% Au, 86% Ag and 93% Cu) used in the Mineral Resource
estimate for ELG Underground (AuEq (gpt) = Au (g/t) + Ag (gpt) *
0.0123 + Cu (%) * 1.6000).
Table 9: Drill results from infill and step-out drilling
at depth along the El Limón Deep Trend
|
|
|
|
|
|
|
|
Final |
Intercept |
|
|
Drill Hole |
Program |
UTM-E |
UTM-N |
Elevation |
Azimuth |
Dip |
Depth |
From |
To |
Core Length |
Au |
Ag |
Cu |
AuEq |
Lithology |
|
|
|
(m) |
(m) |
(m) |
(°) |
(°) |
(m) |
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
(g/t) |
|
|
LDUG-234 |
Step-Out |
422292.38 |
1990577.93 |
742.09 |
255.5 |
17.5 |
171.00 |
142.13 |
152.00 |
9.87 |
3.23 |
5.8 |
0.38 |
3.92 |
Skarn |
|
LDUG-235 |
Infill |
422292.37 |
1990577.64 |
740.98 |
241.0 |
-5.5 |
129.00 |
No skarn intercepted |
|
|
|
|
|
|
|
LDUG-240 |
Step-Out |
422293.07 |
1990578.77 |
741.81 |
284.0 |
15.0 |
165.00 |
96.19 |
97.85 |
1.66 |
0.08 |
5.0 |
0.53 |
0.99 |
MSO |
|
LDUG-241 |
Step-Out |
422292.39 |
1990577.88 |
743.06 |
255.5 |
30.0 |
204.00 |
156.73 |
159.76 |
3.03 |
2.49 |
5.8 |
0.50 |
3.35 |
MSO |
|
LDUG-250 |
Infill |
422028.43 |
1990285.13 |
878.53 |
105.0 |
-30.5 |
138.00 |
70.00 |
74.17 |
4.17 |
2.44 |
8.8 |
0.61 |
3.53 |
Skarn |
|
|
|
|
|
|
|
|
|
117.44 |
125.00 |
7.56 |
5.29 |
2.0 |
0.01 |
5.32 |
Skarn |
|
LDUG-252 |
Step-Out |
422188.08 |
1990257.56 |
979.41 |
211.0 |
-51.0 |
78.00 |
74.50 |
78.00 |
3.50 |
4.61 |
1.4 |
0.06 |
4.72 |
Skarn |
|
LDUG-253 |
Infill |
422028.76 |
1990284.79 |
878.42 |
114.0 |
-40.0 |
156.00 |
108.50 |
112.00 |
3.50 |
3.75 |
2.0 |
0.14 |
4.00 |
Skarn |
|
LDUG-255 |
Infill |
422027.42 |
1990284.66 |
878.31 |
121.0 |
-33.0 |
150.00 |
125.60 |
129.93 |
4.33 |
5.63 |
1.5 |
0.04 |
5.71 |
Skarn |
|
LDUG-256 |
Infill |
422027.50 |
1990284.51 |
878.31 |
105.5 |
-44.0 |
162.00 |
116.05 |
125.13 |
9.08 |
32.95 |
7.4 |
0.54 |
33.91 |
Skarn |
|
|
|
|
|
|
|
|
|
147.00 |
151.25 |
4.25 |
2.34 |
21.4 |
1.59 |
5.15 |
Skarn |
|
LDUG-259 |
Infill |
422027.94 |
1990281.13 |
878.18 |
93.0 |
-49.0 |
165.00 |
82.19 |
87.52 |
5.33 |
3.39 |
19.2 |
1.45 |
5.95 |
Skarn |
|
|
|
|
|
|
|
|
|
151.00 |
155.63 |
4.63 |
4.67 |
11.6 |
0.52 |
5.64 |
Skarn |
|
LDUG-260 |
Infill |
422027.26 |
1990284.33 |
878.32 |
99.0 |
-54.0 |
225.00 |
161.40 |
169.86 |
8.46 |
5.28 |
2.4 |
0.06 |
5.41 |
Skarn |
|
LDUG-262 |
Infill |
422027.60 |
1990285.70 |
878.90 |
78.0 |
-33.5 |
150.00 |
78.00 |
83.00 |
5.00 |
7.17 |
8.6 |
0.46 |
8.01 |
Skarn |
|
LDUG-265 |
Infill |
422027.94 |
1990281.13 |
878.18 |
148.0 |
-25.0 |
171.00 |
147.92 |
152.03 |
4.11 |
4.25 |
13.6 |
0.81 |
5.71 |
Skarn |
|
LDUG-267 |
Infill |
422027.54 |
1990282.27 |
878.29 |
143.0 |
-30.0 |
162.00 |
123.00 |
126.60 |
3.60 |
1.61 |
16.1 |
0.70 |
2.93 |
Skarn |
|
LDUG-268 |
Infill |
422027.30 |
1990282.33 |
878.25 |
148.0 |
-33.0 |
170.00 |
100.17 |
105.00 |
4.83 |
35.41 |
11.7 |
0.16 |
35.81 |
Skarn |
|
|
Infill |
422027.30 |
1990282.33 |
878.25 |
148.0 |
-33.0 |
170.00 |
114.14 |
119.53 |
5.39 |
6.58 |
4.3 |
0.15 |
6.87 |
Skarn |
|
LDUG-270 |
Infill |
421994.29 |
1990231.79 |
946.86 |
153.0 |
-83.0 |
237.00 |
190.31 |
194.70 |
4.39 |
4.10 |
19.8 |
0.39 |
4.97 |
Skarn |
|
LDUG-276 |
Infill |
421994.20 |
1990231.12 |
946.94 |
168.0 |
-72.0 |
258.00 |
189.74 |
198.00 |
8.26 |
1.17 |
51.0 |
1.45 |
4.11 |
Skarn |
Notes to Table1) Intercepts are core lengths and do not
represent true thickness of mineralized zones.2) Core lengths
subject to rounding.3) Torex is not aware of any drilling,
sampling, recovery, or other factors that could materially affect
the accuracy or reliability of the data.4) Gold equivalent (“AuEq”)
grades use the same metal prices ($1,550/oz gold (“Au”), $20/oz
silver (“Ag”) and $3.50/lb copper (“Cu”)) and metallurgical
recoveries (90% Au, 86% Ag and 93% Cu) used in the Mineral Resource
estimate for ELG Underground (AuEq (gpt) = Au (g/t) + Ag (gpt) *
0.0123 + Cu (%) * 1.6000).
Table 10: Drill results from brownfield drilling program
along the El Limón West Trend
|
|
|
|
|
|
|
|
Final |
Intercept |
|
|
Drill Hole |
Program |
UTM-E |
UTM-N |
Elevation |
Azimuth |
Dip |
Depth |
From |
To |
Core Length |
Au |
Ag |
Cu |
AuEq |
Lithology |
|
|
|
(m) |
(m) |
(m) |
(°) |
(°) |
(m) |
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
(g/t) |
|
|
LS-229 |
Brownfield |
422057.41 |
1989112.36 |
868.42 |
328.0 |
-57.0 |
426.00 |
338.00 |
341.38 |
3.38 |
2.36 |
65.2 |
2.33 |
6.90 |
Skarn |
| LS-287 |
Brownfield |
422055.50 |
1989111.20 |
868.50 |
270.0 |
-70.0 |
453.00 |
164.00 |
169.40 |
5.40 |
14.98 |
73.1 |
1.16 |
17.74 |
Breccia/Fault |
|
|
|
|
|
|
|
|
|
198.65 |
212.05 |
13.40 |
9.16 |
10.1 |
0.47 |
10.04 |
Skarn |
Notes to Table1) Intercepts are core lengths and do not
represent true thickness of mineralized zones.2) Core lengths
subject to rounding.3) Torex is not aware of any drilling,
sampling, recovery, or other factors that could materially affect
the accuracy or reliability of the data.4) Gold equivalent (“AuEq”)
grades use the same metal prices ($1,550/oz gold (“Au”), $20/oz
silver (“Ag”) and $3.50/lb copper (“Cu”)) and metallurgical
recoveries (90% Au, 86% Ag and 93% Cu) used in the Mineral Resource
estimate for ELG Underground (AuEq (gpt) = Au (g/t) + Ag (gpt) *
0.0123 + Cu (%) * 1.6000).
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/69bd4fc1-2ae2-472d-8e03-a262410f4a26https://www.globenewswire.com/NewsRoom/AttachmentNg/6676fb9a-d66c-44aa-a2d7-82647e628d8ahttps://www.globenewswire.com/NewsRoom/AttachmentNg/8b42d4d0-5d8a-40be-85b0-2c544b65ecfehttps://www.globenewswire.com/NewsRoom/AttachmentNg/eba88fc3-c958-414c-b864-14b4f0a7dacbhttps://www.globenewswire.com/NewsRoom/AttachmentNg/1f1e6fb3-b35a-400c-bbcc-c19934e0b03d
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