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Torex Gold Resources Inc.
Summary
| Project: | Morelos | |
|---|---|---|
| Deposit: | El Limon Deep zone (ELD) | |
| Location: | Mexico | |
| Commodities: | Gold-Silver | |
| Date: | 6/20/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 20-6-2019: Torex Gold Resources Inc. announces a Resource Estimation report for its El Limon Deep zone (ELD) deposit at the Morelos project. Resource and reserve estimate for the El Limon Deep zone. TORONTO, Ontario, June 20, 2019 – Torex Gold Resources I | |
| Resources: | (Reserve, P+P): 487Kt @ 5.50g/t Au, 6.44g/t Ag | |
| CP/QP: | [Resources]: Clifford Lafleur (Internal) | |
| ABSTRACT: | TORONTO, Ontario, June 20, 2019 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces a maiden underground mineral reserve estimate and resource estimate for the El Limón Deep zone (“ELD”) at its El Limón Guajes mining complex (“ELG”), located in Southwest Mexico. The estimates were prepared in accordance with National Instrument 43-101 (“NI 43-101”) and CIM Standards (defined below). Fred Stanford, President and CEO of Torex, stated: “This addition of the ELD mineral reserves, while small in comparison to the open pit mineral reserves, provides a nice sweetener to the open pit production. It is also indicative of the potential to add further underground mineral resources. With ELD open in three directions, the Sub-Sill underground deposit still open at depth, and the potential for down dip extensions of Guajes, we are upbeat about the potential to further expand underground reserves and resources through multiple sources. “The mineral reserves for the ELD deposit have been estimated using conventional mining techniques and costs. The intention is to mine the deposit with the Muckahi mining system. If as expected, the costs associated with Muckahi mining are lower than conventional mining costs, we may be able to lower the cut-off grade and increase the size of the mineral reserve. Excavation of the 30-degree down ramp to access the lower parts of the ELD deposit is underway, with 4 rounds taken. In the upper portions of the deposit, the excavations are nearly completed for the initial long hole stopes that will be mined utilizing the production aspects of the Muckahi system. To date the Muckahi system has performed as expected, we are all eager to progress through the next stages of the testing program, and if proven, then move forward with the strategic options it has the potential to unlock.” | |
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