For thousands of other reports visit RSC's Mineral Intellingence Map
Torex Gold Resources Inc.
Summary
| Project: | Morelos | |
|---|---|---|
| Deposit: | Media Luna | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 10/25/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Active Mining & Production | |
| Report details: | 25-10-2018: Torex Gold Resources Inc. announces an Exploration/Drilling Update report for its Media Luna deposit at the Morelos project. Drilling results incl. 39.15m @ 5.24g/t Au, 92.75g/t Ag, 2.27% Cu from 447.35m. TORONTO, Ontario, October 25, 2018 – T | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dawson Proudfoot (Internal) | |
| ABSTRACT: | TORONTO, Ontario, October 25, 2018 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) announces the results from the first 23 holes, of a planned 175 hole, in-fill drilling program at its Media Luna Project in Southwest Mexico. Highlighted intercepts from this program include 10.5 g/t Au Eq. over 39.2 m in borehole ML18-222A; 7.0 g/t Au Eq. over 49.6 m in borehole ML18-215; 7.1 g/t Au Eq. over 45.9 m in borehole ML18-219W and 8.3 g/t Au Eq. over 22.6 m in borehole ML18-208W. Fred Stanford, President & CEO of Torex stated: “Media Luna is our next planned growth project and it is being advanced on a number of fronts. One of those fronts was the recently refreshed PEA1, which illustrated an after-tax IRR of 27% using conventional mining technologies and 46% utilizing the proprietary, but untested, Muckahi Mining System1. Engineering optimization work is ongoing after the publication of the PEA. A second front is the testing of the Muckahi Mining System at the Company’s ELG site. The first piece of Muckahi equipment is expected to ship to ELG before the end of this year, with significant testing of the system expected to be completed by year end 2019. Land lease negotiations for Media Luna have also been completed and permitting baseline work is underway. Another major package of on-going work is the diamond drilling program to upgrade 25% of the Inferred Media Luna resource to the Indicated confidence category. This upgrade in confidence category is intended to enable the declaration of Media Luna reserves in a planned upcoming feasibility study. The Inferred resource was drilled out on 100m centers. To upgrade to the Indicated confidence category, the diamond drilling is targeted on 30m centers. As of the end of September, 23 holes had assays completed and are reported today. Results can most easily be described as “as expected”. There are some high-grade holes, some average holes, and some holes that intersected a dyke in the target zone. This is consistent with the results from the earlier 100m centers program and bodes well for the potential of the deposit to live up to expectations. There are currently 5 drills active on the Media Luna Project. On average each drill completes two holes per month, which suggests completion of the program at the end of 2019. Efforts are underway to source more water so the drill count can be increased. There are several porphyry targets on the property and one of the higher priority targets is close to the Media Luna drill site. One of the drill crews will be diverted to test this target with three holes. This program is expected to get underway this quarter and be completed by the end of the first quarter of 2019.” | |
Full Report
opaxe is a smart software platform that reconfigures and redistributes information and produces business insights to help mining professionals and investors make better decisions. We utilise technology and machine learning for data collection and human intelligence for the value-added services.
Full Report