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Torex Gold Resources Inc.
Summary
| Project: | Morelos | |
|---|---|---|
| Deposit: | Morelos | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper | |
| Date: | 9/4/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Active Mining & Production | |
| Report details: | 4-9-2018: Torex Gold Resources Inc. announces a PEA report for its Morelos deposit at the Morelos project. PEA results incl. post-tax NPV of US $582M (5%), IRR of 27.3% at Morelos project . Torex Gold Resources Inc. (Torex) wholly-owns the Morelos Propert | |
| Resources: | (Reserve, P+P): 33.33Mt @ 2.69g/t Au, 3.64g/t Ag at El Limon Guajes Mine | |
| CP/QP: | [Resources]: Mark Hertel (MPH Consulting Ltd.) | |
| ABSTRACT: | Torex Gold Resources Inc. (Torex) wholly-owns the Morelos Property (the “Morelos Property” or the “Property”), a group of seven mineral claims which hosts four deposits, El Limón (which includes El Limón Sur), Sub-Sill, Guajes, and Media Luna, each of which has a mineral resource estimate prepared in accordance with National Instrument 43- 101 (NI 43-101). The Morelos Property is a 29,000 ha mineral claim in the Mexican State of Guerrero, approximately 200 kilometers southwest of Mexico City. The property is in the Guerrero Gold Belt and the entire 29,000 ha mineral claim is considered to have significant exploration potential. Torex is currently operating the El Limón Guajes Mine Complex (ELG Mine Complex) which includes three open pits (ELG Open Pits) and an underground mine (ELG UG). While operating the ELG Mine Complex, Torex is carrying out work on the Media Luna deposit to support the development of this mineral resource. This technical report (the Report) provides a life of mine plan for the ELG Mine Complex. In addition, Section 24 of this Report presents the results of a Preliminary Economic Assessment (PEA) for exploitation of the Media Luna mineral resource using the ELG Mine Complex infrastructure and is referred to as the Media Luna Project (the ML Project). The PEA economics for the ML Project in Section 24 are based on conventional mining methods. In addition, the Muckahi Mining System (Muckahi), a Torex proprietary mining method, is introduced and described in Section 24.24. Section 24.24 uses the ML Project as a platform for comparison to demonstrate to the reader the potential benefits that could be possible if the Muckahi method is proven and ultimately applied to the ML Project, or any other deposit that does not employ caving methods. However, it is important to note that Muckahi is experimental in nature and has not been tested in an operating mine. Many aspects of the system are conceptual, and proof of concept has not been demonstrated | |
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