Torex Gold Resources Inc. (the "Company" or "Torex")
(TSX:TXG)(TSX:TXG.W.A.) is pleased to report that two boreholes
located approximately 100 metres southwest of the Media Luna
magnetic anomaly, intersected mineralization in a non magnetic
area. Borehole WZML-30 encountered 5.4 g/t Au eq. over 11.7m and
borehole WZML-26 encountered 3.9 g/t Au eq. over 4.6m. In addition,
the inferred resource drilling program continues to intersect high
grade mineralization over significant widths within the Media Luna
magnetic anomaly target at the Company's Morelos Gold Project in
Mexico. Highlighted intercepts from the three known mineralized
zones reported today, include borehole NEZML-22, which intersected
8.81 g/t Au eq. over 38.2m; borehole WZML-31, which intersected
5.34 g/t Au eq. over 29.9m; borehole WZML-35, which intersected
4.09 g/t Au eq. over 37.3m; borehole CZML-03, which intersected
20.66 g/t Au eq. over 6.0m; and borehole NEZML-24, which
intersected 8.49 g/t Au eq. over 13.7m.
Fred Stanford, President & CEO of Torex stated: "The gold
mineralization in the known deposits north of the Balsas River are
not associated with strong magnetic anomalies so we are intrigued
by the discovery of gold-silver-copper mineralization south of the
Balsas River outside the Media Luna magnetic anomaly. However, the
significance of these new results is unknown at this time and will
be followed up as part of our ongoing exploration program. We have
12 drill rigs that are aggressively advancing a resource drilling
program that has a goal of delivering a maiden inferred level
resource in Q1/2014. The resource program is focused on three areas
in the center of the Media Luna target where we have optimal
drilling access with the current road network. The three areas are
outlined on the attached maps and are named the West, Central, and
North East zones. All of the drill results reported today are
associated with the resource drilling program and continue the
encouraging pattern of demonstrating a large mineralizing system
that now appears to extend beyond the magnetic footprint." He added
"An additional two drill rigs are testing targets outside of the
resource area, exploring for new discoveries. These rigs will
continue to operate from existing roads until we receive permits
that will allow us to build new access roads into our high priority
target area. As results become available, they will be reported
separately from the resource program."
Highlights of resource drilling at Media Luna
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Core Au
BH I.D. Intersection Length Au Ag Cu equivalent Lithology
--------------
From To
---------------------------------------------------------
(m) (m) (m) (g/t) (g/t) (%) (g/t)
----------------------------------------------------------------------------
NEZML-22 436.3 474.5 38.2 5.74 24.29 1.75 8.81 Skarn
----------------------------------------------------------------------------
WZML-31 513.6 543.5 29.9 3.45 26.24 0.94 5.34 Skarn
----------------------------------------------------------------------------
WZML-35 467.0 504.2 37.3 0.41 60.24 1.71 4.09 Skarn
----------------------------------------------------------------------------
CZML-03 319.8 325.8 6.0 12.89 121.84 3.68 20.66 Skarn
----------------------------------------------------------------------------
NEZML-24 399.0 412.7 13.7 8.45 0.72 0.02 8.49 Skarn
----------------------------------------------------------------------------
WZML-22 548.8 564.9 16.2 2.63 53.79 2.03 6.68 Skarn
----------------------------------------------------------------------------
NEZM-14 456.1 475.7 19.6 2.84 22.51 0.82 4.49 Skarn
----------------------------------------------------------------------------
WZML-32 501.0 511.8 10.8 4.24 48.95 1.56 7.49 Skarn
----------------------------------------------------------------------------
NEZML-18 393.8 413.2 19.4 4.03 2.25 0.02 4.10 Skarn
----------------------------------------------------------------------------
WZML-30 570.4 582.1 11.7 1.76 44.68 1.88 5.40 Skarn
----------------------------------------------------------------------------
CZML-19 306.3 312.0 5.7 4.40 25.46 0.84 6.12 Skarn
----------------------------------------------------------------------------
Notes:
True thickness of the mineralized zone is unknown and is reported as drill
hole length
The gold equivalent grade, including copper and silver values, is based on
100% metal recoveries. The gold grade equivalent calculation used is as
follows: Au g/t (EQ) = Au g/t + (Cu grade x ((Cu price per lb/Au price per
oz) x 0.06857 lbs per oz x 10000 g per%)) + (Ag grade x (Ag price per oz/Au
price per oz)). The metal prices used were: Gold - $1600/oz, Copper -
$3.50/lb, Silver - $29.59/oz
Media Luna (IF) = Infill Hole - Media Luna
Please refer to Table 1 for a complete list and expanded
description of the borehole intercepts reported in this press
release and Figures 1-8 for borehole locations. In-fill drilling at
Media Luna has been divided into three sectors (West Zone (WZ),
Central Zone (CZ) and Northeast Zone (NEZ) for logistical reasons.
Figures 1-4 refer to these sectors.
To view Table 1 for a complete list and expanded description of
the intercepts, please visit the following link:
http://media3.marketwire.com/docs/Table_1TXG.pdf.
To view Figures 1-8 for borehole locations, please visit the
following link:
http://media3.marketwire.com/docs/FiguresTXG.pdf.
One hundred one drill holes have been completed at Media Luna
over a strike length of approximately 1.85 km and a width of 1 km.
Gold-copper-silver mineralization is associated with skarn
alteration (pyroxene-garnet-magnetite) and later sulfides, which
developed at the contact of granodiorite with marble. There is a
clear association of gold, copper and silver with retrograde
amphibole, phlogopite, chlorite, calcite +/- quartz +/- epidote
alteration of exoskarn. This mineral assemblage can occur as
pervasive replacement of skarn minerals, sometimes preserving
garnet and pyroxene outlines, or as veinlets with black chlorite or
phlogopite halos cutting across massive skarn bands. Sulfidation of
skarn assemblages is closely related to retrograde alteration and
is extensively developed at Media Luna.
Within the sectors currently undergoing in-fill drilling, the
granodiorite-marble contact dips at roughly 35 degrees to the
southwest and is locally disrupted by apparent structural zones.
The skarn is thicker and the grade and thickness of
gold-copper-silver mineralization appears to increase in proximity
to these irregular contact zones, especially where the contact
steepens or forms a trough. A ZTEM survey is planned to help
highlight significant structural zones that may have been critical
mineralizing fluid conduits.
The focus of on-going exploration is to complete a resource
drill program focused on the three sectors in the central portion
of Media Luna, continue to drill test the length and width of the
Media Luna and Media Luna West magnetic anomalies, and advance
testing of additional highly prospective magnetic anomalies in the
area. Additional target generation work is planned when ZTEM survey
results and interpretation are received.
The potential quantity and grade of the exploration targets are
conceptual in nature and there has been insufficient exploration to
define a mineral resource and it is uncertain if further
exploration will result in the determination of a mineral
resource.
QA/QC and Qualified Person
At the Morelos Gold Project, all of the Media Luna target
analytical work is performed by SGS de Mexico S.A. de C.V. ("SGS")
in Mexico and/or Acme Analytical Laboratories Mexico S.A. de C.V.
("ACME").
Sample preparation is done at a dedicated sample preparation
laboratory operated by SGS at the project site in Nuevo Balsas,
Guerrero, Mexico, and/or at a dedicated sample preparation
laboratory operated by ACME at Guadalajara, Mexico. The gold
analyses (fire assay with an atomic absorption or gravimetric
finish) and multi-element geochemical analyses are completed at an
analytical laboratory operated by SGS at the project site in Nuevo
Balsas, Guerrero, Mexico and at their analytical facilities in
Vancouver, British Columbia, Canada, respectively. The gold
analyses (fire assay with an atomic absorption or gravimetric
finish) and multi-element geochemical analyses are completed by
ACME at their analytical facilities Vancouver, British Columbia,
Canada.
The Company has a Quality Assurance/Quality Control ("QA/QC")
program in place that includes 5% of each of the certified
reference materials, blanks, field duplicates and preparation
duplicates for the grassroots exploration drilling program, with
the objective of the QA/QC program to ensure the batch to batch
relative bias remains constant and that absolute accuracy at
anomalous to near cut-off grades is measured and acceptable. The
QA/QC program as designed has been approved by AMEC and is
currently overseen by Cristian Puentes, Chief Exploration Geologist
for the Morelos Gold Project.
The scientific and technical data contained in this news release
pertaining to the Morelos Project has been reviewed and approved by
Mr. Barton Suchomel as a Qualified Person under NI 43-101. Mr.
Suchomel is a Fellow of the Australasian Institute of Mining and
Metallurgy and has experience relevant to the style of
mineralization under consideration. Mr. Suchomel consents to the
inclusion in this release of said data in the form and context in
which it appears.
Torex is a growth-oriented, Canadian-based resource company
engaged in the exploration and development of precious metal
resources with a focus on gold. It owns 100% of the Morelos Gold
Project, a development stage project, located 180 kilometres
southwest of Mexico City in the highly prospective Morelos Gold
Belt. Torex is aggressively exploring within its property to
identify a pipeline of additional future economic deposits. The
project covers an area of 29,000 hectares of which more than 75%
remain unexplored.
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This press release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information
includes, but is not limited to, information with respect to the
initial drill program at the Company's Media Luna target and the
results of the program contained herein. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as "plans", "expects", "estimates", "intends",
"anticipates" or "believes" or variations of such words and phrases
or state that certain actions, events or results "may", "could",
"would", "might", or "will be taken", "occur", or "be achieved".
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including those risk factors
identified in the Company's current annual information form.
Forward-looking information is based on the reasonable assumptions,
estimates, analysis and opinions of management made in light of its
experience and its perception of trends, current conditions and
expected developments, as well as other factors that management
believes to be relevant and reasonable in the circumstances at the
date that such statements are made, but which may prove to be
incorrect. Although the Company believes that the assumptions and
expectations reflected in such forward-looking information are
reasonable, undue reliance should not be placed on forward-looking
information because the Company can give no assurance that such
expectations will prove to be correct. The forward-looking
information contained herein is presented for the purposes of
assisting investors in understanding the Company's exploration
results and the Company's plans and objectives and may not be
appropriate for other purposes. The Company does not undertake to
update any forward-looking information, except in accordance with
applicable securities laws.
Contacts: Torex Gold Resources Inc. Fred Stanford President and
CEO (647) 260-1502fred.stanford@torexgold.com Torex Gold Resources
Inc. Gabriela Sanchez Vice President Investor Relations (647)
260-1503gabriela.sanchez@torexgold.com
Grafico Azioni Torex Gold Resources (TSX:TXG)
Storico
Da Dic 2024 a Gen 2025
Grafico Azioni Torex Gold Resources (TSX:TXG)
Storico
Da Gen 2024 a Gen 2025
