Torex Gold Resources Inc. (the "Company" or "Torex")
(TSX:TXG)(TSX:TXG.WT.A) is pleased to report the last batch of
results from its resource drilling program at its Media Luna target
in Mexico. The program has continued to intersect high grade
Au-Ag-Cu mineralization over significant widths, and remains open
to the north, west and south of the Media Luna magnetic anomaly.
Highlight intercepts include, in the West Zone, 11.56 g/t Au eq.
over 19.9m in borehole WZML-47; 10.55 g/t Au eq. over 17.3m in
borehole WZML-52; 5.34 g/t Au eq. over 24.0m in borehole WZML-08
and 7.98 g/t Au eq. over 8.6m in borehole WZML-48.
Fred Stanford, President & CEO of Torex stated: "This is a
significant milestone for Torex and a major achievement by our
exploration team. Together with Western Mining Services, and AMEC,
they have executed through a process that has taken us from
discovery hole to, what promises to be a significant maiden
resource, in just 18 months. Through disciplined execution of this
process they have now advanced the expected time of completion of
the first inferred resource estimate at Media Luna to
mid-September." He added, "With the mineralization open in several
directions, the focus of the on-going exploration is to drill test
the untested portions of the Media Luna, Media Luna West, and Todos
Santos magnetic anomalies. In addition, a ZTEM survey has recently
been flown over the entire property. As results of this survey are
interpreted, which includes new magnetic information from upgraded
technology, additional targets will be generated, both north and
south of the Balsas River."
Highlights from this release of resource drilling results at
Media Luna
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Intersection
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Core Au
BH I.D. From To Length Au Ag Cu equivalent Lithology
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(m) (m) (m) (g/t) (g/t) (%) (g/t)
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WZML-47 790.1 810.0 19.9 8.17 24.53 1.96 11.56 Skarn
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WZML-52 772.3 789.7 17.3 10.06 6.34 0.25 10.55 Skarn
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WZML-08 456.6 467.6 11.0 2.92 36.33 1.67 6.10 Skarn
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WZML-08 470.1 494.2 24.0 2.15 31.95 1.73 5.34 Skarn
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WZML-48 544.9 550.6 5.7 9.39 4.79 0.32 9.95 Skarn
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WZML-48 584.4 593.0 8.6 5.71 32.16 1.11 7.98 Skarn
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WZML-20 343.1 354.0 10.9 1.66 76.86 1.87 5.88 Skarn
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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 1-5 for borehole locations. Resource drilling
at Media Luna has been divided into three sectors (West Zone (WZ),
Central Zone (CZ) and Northeast Zone (NEZ) for logistical reasons.
Figures 1-3 refer to these sectors.
The three 'resource' sectors, noted above, have a combined area
of approximately 127 hectares. This 127 ha area of the pending
resource estimate represents approximately 42% of the area of the
Media Luna magnetic anomaly, or approximately 25% of combined areas
of the Media Luna, Media Luna West and Todos Santos magnetic
anomalies. Within the 127 ha resource area, 150 boreholes have been
completed through a drill program of 92,442 meters.
Gold-copper-silver mineralization is associated with skarn
alteration (pyroxene-garnet-magnetite) and later sulfides
(pyrrhotite-chalcopyrite-pyrite), which developed at the contact of
granodiorite with marble. Sulfidation of skarn assemblages is
closely related to retrograde alteration.
Within the sectors covered by the 'resource area', 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. The resource boreholes on the western
and southern margins of the West Zone show that mineralization
continues to the southwest beyond the sharp SW boundary of the
Media Luna magnetic anomaly (see Figure 2). Outside of the magnetic
anomaly, magnetite content decreases significantly while pyrrhotite
remains abundant.
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 Guerrero 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.
To view Table 1, please visit the following link:
http://media3.marketwire.com/docs/txg0821table.pdf.
To view Figures 1-5, please visit the following link:
http://media3.marketwire.com/docs/txg0821figures.pdf.
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 www.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
