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Torex Gold Resources Inc.
Summary
| Project: | Morelos | |
|---|---|---|
| Deposit: | El Limon Sub-Sill | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 3/29/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Active Mining & Production | |
| Report details: | 29-3-2017: Torex Gold Resources Inc. announces a Resource Estimation report for its El Limon Sub-Sill deposit at the Morelos project. Mineral resource estimate for the Sub-sill deposit. Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is ple | |
| Resources: | (Resource): 0.35Mt @ 7.82g/t Au (Ind.) and 1.33Mt @ 7.58g/t Au (Inf.) at Sub-Sill Underground | |
| CP/QP: | [Resources]: Mark P. Hertel (MPH Consulting Ltd.) | |
| ABSTRACT: | Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce a, CIM Definition Standards compliant, mineral resource estimate for its Sub-Sill deposit of 324,000 Inferred gold ounces and 89,000 Indicated gold ounces, at a cut-off grade of 2.5g/t Au. The Inferred resource is contained in 1.33 million tonnes at an average Au grade of 7.58 g/t. The Indicated resource is contained in 353,000 tonnes at an average Au grade of 7.82 g/t. The Sub-Sill deposit is located in close proximity to the Company’s ELG processing plant in Southwest Mexico and remains open in several directions. Fred Stanford, President and CEO of Torex stated: “The Sub-Sill provides the potential to offer a material increase in the near-term ounces produced through the ELG processing plant as a result of the high grade and the rapid advance of the planned 600 meter access ramp. The ramp is now less than 170 meters (4 m/d advance rate) from the anticipated contact with the skarn rocks that host the Sub-Sill deposit. Mine planning is underway and the mine design effort will seek to pull production of the highest-grade tonnes to as early in the mine plan as possible. It is worth noting that in the resource estimate there are 147,000 Au ounces in 260,000 Inferred tonnes averaging 17.45 g/t Au, and 45,000 Au ounces in 90,000 Indicated tonnes averaging 15.98 g/t Au.” He added, “The Sub-Sill deposit also has the potential to increase in size. It remains open in all directions, including at depth. The deposit, as currently defined, covers an area of approximately 22,000 m2. The prospective area to test for expansions of the deposit covers an area of approximately 1,000,000 m2, with additional potential at depth.” | |
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