Torex Announces Production Results for the Second Quarter
July 09 2018 - 5:00AM
Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is
pleased to announce that during the second quarter of 2018, a total
of 80,000 ounces of gold were produced at its El Limón Guajes mine
(“ELG Mine”) in southwest Mexico.
Fred Stanford, President and CEO of Torex
stated: “The site teams continue to implement the initiatives to
ramp up production. In April, plant throughput was 9
kt/d. In May it was 11 kt/d and in June it was 13 kt/d.
In June, plant throughput was above 13 kt/d for 21 days; 9 of those
21 days were above 14 kt/d, and of those 9 days, 5 were above 15
kt/d. Guidance is maintained at 325,000 – 350,000 gold ounces
sold for the year.” He added: “The SART plant produced its
first copper precipitate, on schedule, in late June. The
operations team has taken over from the commissioning team and will
now take the SART plant to full production. Growth activities
continued through the quarter with development and exploration
drilling at the Sub-Sill. In-fill drilling in Media Luna
continues and the updated technical report on the ELG Mine and the
Media Luna project is on schedule to be completed in late July /
early August. We all look forward to the second half of 2018
and the many catalysts that are expected to demonstrate the company
building potential of the Morelos Gold Property.”
Torex is an intermediate gold producer based in
Canada, engaged in the exploration, development and operation of
its 100% owned Morelos Gold Property, an area of 29,000 hectares in
the highly prospective Guerrero Gold Belt located 180 kilometers
southwest of Mexico City. The Company’s principal assets are the El
Limón Guajes mining complex (the “ELG Mine Complex”),
comprised of the El Limón, Guajes and El Limón Sur open pits, the
El Limón Guajes underground mine including zones referred to as
Sub-Sill and El Limón Deep, and the processing plant and related
infrastructure, which is in the commercial production stage as of
April 1, 2016, and the Media Luna deposit, which is an early stage
development project, and for which the Company issued a preliminary
economic assessment in 2015. The property remains 75%
unexplored.
For further information, please contact: |
TOREX GOLD RESOURCES INC. |
Fred
Stanford |
Gabriela
Sanchez |
President
and CEO |
Vice
President Investor Relations |
Tel. (647)
260-1502 |
Tel. (647)
260-1503 |
Email:
fred.stanford@torexgold.com |
Email:
gabriela.sanchez@torexgold.com |
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. Notwithstanding the
Company’s efforts, there can be no guarantee that the Company will
not face unforeseen delays or disruptions, including delays and
disruptions. Forward-looking information includes, but is not
limited to, statements regarding completing the ramp-up of the
operations to full production, achieving the production forecast of
gold sold for the year, completing development activities on the
Subsill, the expected completion of ramp-up of the SART plant to
full production, completing development activities on the Subsill,
completing the exploration drilling programs on the Subsill and
regional target and the infill drilling program on the Media Luna
project, and the timing and completion of the technical report on
the ELG Mine and Media Luna project. Generally, forward-looking
information can be identified by the use of forward-looking
terminology such as ‘guidance”, “plans”, “expects”, “estimates”,
“intends”, “on schedule” or “potential” or variations of such words
and phrases or state that certain actions, events or results “may”,
“could”, “would”, “might”, “will” or “will be taken”, “occur”, or
“be achieved”. Forward-looking information is based on the
reasonable assumptions, estimates, analysis and opinions of
management made at the date that such statements are made.
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 annual information form and
management’s discussion and analysis. 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. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. The Company does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
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