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Torex Gold Resources Inc.
Summary
| Project: | Morelos | |
|---|---|---|
| Deposit: | El Limon Guajes | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 4/28/2020 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 28-4-2020: Torex Gold Resources Inc. announces a Resource Estimation report for its El Limon Guajes deposit at the Morelos project. Updated Mineral Resource Estimate for Project. TORONTO, Ontario, April 28, 2020 – Torex Gold Resources Inc. (the “Company” | |
| Resources: | (Reserves, P+P): 23.12Mt @ 3.04g/t Au | |
| CP/QP: | [Overall Report]: Lars Weiershauser (Internal) | |
| ABSTRACT: | TORONTO, Ontario, April 28, 2020 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) reports that in 2019, for the Company’s El Limón Guajes (ELG) Complex, total gold reserves declined 9% (approximately 0.22 million ounces). Open pit gold reserves declined 19% year-over-year, primarily due to depletion. Exploration success resulted in underground gold reserves increasing 140%, net of depletion. The gold price used to estimate the 2019 year-end gold reserves is unchanged at US$1,200 per ounce. The Company also announces that it is continuing to rely on an exemption provided under Ontario securities law and plans to file the annual information form (the “AIF”) on or around May 6, 2020. Fred Stanford, President & CEO of Torex, stated: “By the beginning of 2024, the open pit portion of ELG will be mined out and Torex expects to be mining exclusively from underground resources, primarily from Media Luna. Between now and 2024, we have lots of time to continue the process of upgrading underground resources to reserves. In 2019 we completed the first infill drill program at Media Luna and upgraded 2.24 million gold equivalent ounces to the Indicated resource category | |
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