Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG)
announces initial results from the 2021 drilling program at the El
Limón Guajes underground mine, including zones referred to as
Sub-Sill and El Limón Deep (“ELD”) (collectively the “ELG
Underground”).
Jody Kuzenko, President & CEO stated:
“A key pillar of the Torex strategy moving
forward includes a fresh focus on exploration and we are pleased
with the results from the 2021 drill program at the ELG
Underground. Infill drilling conducted under the first phase of the
2021 program reinforces our positive outlook on the ability to
extend the mine life of the ELG Underground beyond current reserves
and complement future production from Media Luna, which remains on
track to begin in Q1 2024.
“The 2021 ELG Underground drill program is
divided into two phases. The first phase, for which final assays
are still being received, was focused on upgrading Inferred mineral
resources to the Measured and Indicated categories with a view to
extending the mine life of the ELG Underground. The second phase,
which commenced this summer, is focused on step-out drilling to
grow the overall resource base. Initial results from step-out holes
targeting a previously identified area under the El Limón Sur open
pit are encouraging. Further drilling is required to better
understand the geology and potential of this area, which is located
approximately 300 metres southwest of Sub-Sill.
“Overall, the ELG Underground has been a key
value driver for Torex as reserves have been expanded and the
mining rate has increased to well over 1,200 tonnes per day –
substantially higher than the 830 tonnes per day originally
anticipated from the Sub-Sill deposit. Based on the drill results
seen to date, we believe we are well positioned to unlock further
value from the ELG Underground.”
Key highlights from the 2021 ELG underground
drill program are outlined in Table 1.
TABLE 1: HIGHLIGHTS FROM 2021 ELG UNDERGROUND DRILL
PROGRAM
|
Drill-Hole |
Deposit(purpose) |
From(m) |
To(m) |
Core Length(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
|
LDUG-149 |
ELD (infill) |
36.0 |
70.0 |
34.0 |
15.04 |
14.7 |
0.66 |
|
LDUG-152 |
ELD (infill) |
40.2 |
62.7 |
22.5 |
21.52 |
12.7 |
0.53 |
|
LDUG-148 |
ELD (infill) |
33.0 |
76.5 |
43.5 |
9.65 |
4.4 |
0.18 |
|
LDUG-164 |
ELD (infill) |
52.0 |
80.9 |
28.9 |
13.53 |
16.2 |
0.86 |
|
LDUG-166 |
ELD (infill) |
91.0 |
132.0 |
41.0 |
8.92 |
4.0 |
0.21 |
|
LDUG-139 |
ELD (infill) |
133.4 |
158.5 |
25.1 |
9.21 |
19.4 |
0.40 |
|
LDUG-165 |
ELD (infill) |
126.0 |
154.7 |
28.7 |
6.95 |
6.2 |
0.27 |
|
LDUG-126 |
ELD (infill) |
40.5 |
44.0 |
3.5 |
56.25 |
9.4 |
0.18 |
|
LDUG-146 |
ELD (infill) |
28.0 |
54.4 |
26.4 |
7.02 |
4.4 |
0.16 |
|
LDUG-159 |
ELD (infill) |
29.2 |
47.0 |
17.8 |
10.10 |
1.7 |
0.12 |
|
LDUG-153 |
ELD (infill) |
70.3 |
78.0 |
7.7 |
19.79 |
4.8 |
0.52 |
|
SST-244 |
Sub-Sill (infill) |
275.2 |
300.0 |
24.8 |
5.72 |
1.6 |
0.16 |
|
SST-216 |
Sub-Sill (infill) |
190.0 |
194.0 |
4.0 |
30.02 |
2.8 |
0.00 |
|
SST-232 |
Sub-Sill (step-out) |
75.2 |
86.5 |
11.3 |
10.21 |
156.2 |
1.82 |
|
SST-226 |
Sub-Sill (infill) |
328.5 |
336.3 |
7.8 |
10.71 |
10.7 |
0.44 |
Notes to Table 1:
- Intersections do not represent true thickness of mineralized
zones
- Core lengths subject to rounding
- Interval lengths for holes dipping between -45 to -90º have
been selected to represent a minimum mining height of 3.5 m
- Interval lengths for holes dipping between 0 and -45º have been
selected to represent a minimum horizontal length of 3.5 m
- Torex is not aware of any drilling, sampling, recovery, or
other factors that could materially affect the accuracy or
reliability of the data
2021 ELG UNDERGROUND DRILL PROGRAM
Torex is expecting to conclude a 25,000 metres
(“m”) drill program at the ELG Underground in 2021 (excluding 9,000
m of definition drilling and approximately 2,000 m of drilling
related to the El Limón pushback), with most of the program focused
on infill drilling (Phase 1) and the remainder on step-out drilling
(Phase 2). The greater focus on infill drilling is aimed at
upgrading Inferred mineral resources to the Measured and Indicated
categories, so that a greater level of mineral resources can be
included in a new mine plan for the ELG Underground. The new mine
plan will be included in an updated Technical Report scheduled for
release in Q1 2022.
To date, the Company has drilled and received
assay results for 69 drill holes associated with the 2021 program
representing approximately 14,200 m of drilling. Of the assay
results received to date, approximately 5,800 m (43 drill holes)
have been drilled at ELD with an additional 8,400 m (26 holes)
drilled at Sub-Sill. Infill drilling at Sub-Sill has ramped up
through the back half of the year. There are currently 8 rigs
actively drilling off the ELG Underground, including 3 rigs from
surface and 5 rigs underground.
Assay results for the initial drill holes under
the 2021 drill program are outlined in Table 2 (ELD deposit) and
Table 3 (Sub-Sill deposit).
Drilling at ELD is focused on upgrading mineral
resources, primarily within the southern portion of the deposit
(Figure 3). Assay results received to date have been positive and
increase our confidence in extending reserves within ELD.
At Sub-Sill, infill drilling is targeting to
upgrade mineral resources in order to further extend reserves both
vertically and laterally (Figure 4 and 5). Step-out drilling
completed to date has been focused on a previously identified area
of mineralization below the El Limón Sur open pit, approximately
300 m southwest of Sub-Sill. Further study is required to
understand the geology and underlying potential of this area.
Exploration drilling at the ELG Underground is
expected to remain a key focus for Torex as the Company looks to
test the lateral and vertical extents of both Sub-Sill and ELD.
Completion of Portal # 3 in mid-2022 is expected to support the
Company’s efforts to test the vertical extent of both deposits and
determine if Sub-Sill and ELD meet up at depth. While the primary
role of Portal #3 is to reduce haul distances and improve
ventilation, development of the portal will allow for the
construction of drill platforms to target deeper extensions of the
deposits more efficiently than is currently achievable from current
underground and surface-based drilling.
Intersections reported in this press release are
not reported as true thickness. Interval lengths for holes dipping
between 45º and -90º have been selected to represent a minimum
mining height of 3.5 m. Interval lengths for holes dipping between
0º and -45º have been selected to represent a minimum horizontal
length of 3.5 m.
Currently, reported intersections from ELD and
Sub-Sill also demonstrate the continuity of potentially economic
gold mineralization for at least 350 m along strike at ELD and 300
m down-dip below current development levels at Sub-Sill; apparent
widths vary from 3.5 m to 46 m.
ELG UNDERGROUND MINE
The ELG Underground consists of the higher-grade
Sub-Sill and ELD deposits. At year-end 2020, the combined Proven
& Probable Reserve for the two deposits was estimated at
413,000 ounces of gold (2.03 million tonnes at an average grade of
6.32 g/t gold). The 2020 year-end reserve update reflected a 15%
year-over-year increase in reserves (50% after accounting for
depletion).
Since underground mining commenced in late-2017,
the ELG Underground has produced approximately 196,000 ounces of
gold (222,400 ounces mined prior to process plant recoveries at an
average gold grade of 7.64 g/t) through year-end 2020. Cumulative
gold mined plus year-end 2020 reserves is more than 3-fold the
initial underground gold reserves of 183,000 ounces as estimated as
of December 31, 2017.
The ELG Underground is on track for another
strong year of production in 2021 with 74,000 ounces of gold
produced (83,500 ounces of gold mined prior to process recoveries
at 7.10 g/t gold) through the third quarter. Annual production from
the ELG Underground averaged approximately 82,000 ounces between
2019 and 2020 (92,700 ounces prior to process recoveries at an
average gold grade of 7.53 g/t).
ELG UNDERGROUND GEOLOGY
The ELD and Sub-Sill deposits are distinct
portions of the larger El Limón Guajes mineralized skarn system.
The two deposits occur in different locations relative to a
granodiorite sill prevalent in the deposit area and are
approximately 300 m apart.
The El Limón Guajes mining complex, located in
the central part of the Guerrero Gold Belt in Southwest Mexico, is
hosted in the Mesozoic carbonate-rich Morelos Platform, which has
been intruded by Paleocene granodiorite stocks, sills, and dikes.
Skarn-hosted gold mineralization is developed along the contacts of
the intrusive rocks and the enclosing carbonate-rich sedimentary
rocks of the Cuautla and Morelos formations as well as along the
footwall contact of the Mezcala Formation.
ELD represents the down-dip extension of the
skarn that hosts the gold mineralization at El Limón open pit,
where the skarn is developed immediately above a large granodiorite
sill intruded along the contact of the Cuautla and the Mezcala
formations. The mineralized skarn forms a single and continuous
package that strikes approximately 25° to the north-northeast and
dips between 20° and 40° to the northwest. To the northwest, the
strike of the skarn package changes to approximately 30° to the
north-northwest and the dip steepens to approximately 60°. The
change in the geometry of the skarn package is interpreted to be
related to the northeast striking and southeast dipping La Flaca
Fault; parallel structures are locally represented by post mineral
dykes.
Mineralization in the Sub-Sill area formed along
contacts between marbles of the Morelos formation and granodiorite
sills, which is interpreted as late-stage porphyritic intrusions
that branch off the main body of granodiorite. The best developed
skarn zones at the Sub-Sill area strikes approximately 40°
northeast and dip between 35° and 45° to the northwest. Deep
drilling has identified a steeply dipping, 65° to 75° northwest,
extension of the Sub-Sill skarn zone with high grade
mineralization. This zone is currently interpreted as the
structurally controlled feeder of the mineralization that developed
along the lithological contacts between the hornfels, the marbles,
and the sills. The skarn zone hosts multiple horizons with
high-grade gold mineralization that vary in strike length from 50 m
up to 240 m, with apparent widths varying from 2 m to 46 m. The
trend of the overall skarn body in the Sub-Sill area is north-south
to northeast-southwest.
The style of mineralization at both deposits is
characterized by gold, which is strongly associated with bismuth
and variable amounts of silver and copper. Gold occurs in variably
sulfidized, pyrrhotite-rich skarn, while silver and copper
mineralization is controlled primarily by the degree of sulfidation
of the host skarn. Mineralization is associated with retrograde
alteration characterized by the occurrence of phlogopite,
amphibole, chlorite, calcite and lesser amounts of quartz and
epidote, and local magnetite.
QA/QC AND QUALIFIED PERSONTorex
maintains an industry-standard analytical quality assurance and
quality control (QA/QC) and data verification program to monitor
laboratory performance and ensure high quality assays. Results from
this program confirm reliability of the assay results. All sampling
and analytical work for the mine exploration program is performed
by SGS de Mexico S.A. de C.V. (“SGS”) in Durango, and by SGS in
Nuevo Balsas, Mexico. Gold analyses comprise fire assays with
atomic absorption or gravimetric finish. External check assays for
QA/QC purposes are performed at ALS Chemex de Mexico S.A. de
C.V.
The analytical QA/QC program is currently
overseen by Carlo Nasi, Chief Mine Geologist for Minera Media Luna,
S.A. de C.V.
The scientific and technical data contained in
this news release pertaining to the ELG underground exploration
program have been reviewed and approved by John Makin, MAIG. Mr.
Makin is a member of the Australian Institute of Geoscientists
(#7313), has experience relevant to the style of mineralization
under consideration, and is a Consultant Geologist employed by SLR
(Canada) Consulting Ltd. Mr. Makin has verified the data disclosed,
including sampling, analytical, and test data underlying the drill
results, and he consents to the inclusion in this release of said
data in the form and context in which they appear.
Additional information on the Sub-Sill and ELD
deposits, sampling and analyses, analytical labs, and methods used
for data verification is available in the Company’s most recent
annual information form and the technical report (the “Technical
Report”) entitled “Morelos Property, NI 43-101 Technical Report,
ELG Mine Complex, Life of Mine Plan and Media Luna Preliminary
Economic Assessment, Guerrero State, Mexico ” with an effective
date of March 31, 2018 (filing date September 4, 2018) filed on
SEDAR at www.sedar.com and the Company’s website at
www.torexgold.com.
ABOUT TOREXTorex 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 kilometres southwest of Mexico City.
The Company’s principal assets are the El Limón Guajes mining
complex (“ELG” or the “ELG Mine Complex”), comprising the El Limón,
Guajes and El Limón Sur open pits, the El Limón Guajes underground
mine including zones referred to as Sub-Sill and ELD, and the
processing plant and related infrastructure, which commenced
commercial production as of April 1, 2016, and the Media Luna
deposit, which is an advanced stage development project, and for
which the Company issued the updated PEA in September 2018 (see the
2018 Technical Report). The property remains 75% unexplored.
FOR FURTHER INFORMATION, PLEASE
CONTACT:
| TOREX GOLD RESOURCES INC. |
| Jody
Kuzenko |
Dan
Rollins |
| President and CEO |
Vice President, Corporate Development & Investor
Relations |
| Direct: (647) 725-9982 |
Direct: (647) 260-1503 |
| jody.kuzenko@torexgold.com |
dan.rollins@torexgold.com |
CAUTIONARY NOTESFORWARD
LOOKING INFORMATIONThis press release contains
"forward-looking statements" and "forward-looking information"
within the meaning of applicable Canadian securities legislation.
Forward-looking information also includes, but is not limited to,
statements that:. infill drilling conducted under the first phase
of the 2021 program reinforces our positive outlook on the ability
to extend the mine life of the ELG Underground beyond current
reserves and complement future production from Media Luna, which
remains on track to begin in Q1 2024; the first phase of the drill
program was focused on upgrading Inferred mineral resources to the
Measured and Indicated categories with a view to extending the mine
life of the ELG Underground; the second phase is focused on
step-out drilling to grow the overall resource base; initial
results from step-out holes targeting a previously identified area
under the El Limón Sur open pit are encouraging; based on the drill
results seen to date, we believe we are well positioned to unlock
further value from the ELG Underground; Torex is expecting to
conclude a 25,000 metres (“m”) drill program at the ELG Underground
in 2021 (excluding 9,000 m of definition drilling and approximately
2,000 m of drilling related to the El Limón pushback), with most of
the program focused on infill drilling (Phase 1) and the remainder
on step-out drilling (Phase 2); the greater focus on infill
drilling is aimed at upgrading Inferred mineral resources to the
Measured and Indicated categories, so that a greater level of
mineral resources can be included in a new mine plan for the ELG
Underground; the new mine plan will be included in an updated
Technical Report scheduled for release in Q1 2022; exploration
drilling at the ELG Underground is expected to remain a key focus
for Torex as the Company looks to test the lateral and vertical
extents of both Sub-Sill and ELD; and the ELG Underground is on
track for another strong year of production in 2021. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as “schedule”, “continue”, and
"expects" or variations of such words and phrases or statements
that certain actions, events, or results “will”, “will result”, or
“is expected to" occur. 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, without limitation, risks and uncertainties associated
with: uncertainty involving skarns deposits; and those risk factors
identified in the Technical Report and the Company’s annual
information form and management’s discussion and analysis or other
unknown but potentially significant impacts. Forward-looking
information are based on the assumptions discussed in the Technical
Report and such other reasonable assumptions, estimates, analysis,
and opinions of management made in light of its experience and
perception of trends, current conditions and expected developments,
and other factors that management believes are relevant and
reasonable in the circumstances at the date such statements are
made. Although the Company has attempted to identify important
factors that could cause actual results to differ materially from
those contained in the forward-looking information, there may be
other factors that cause results not to be as anticipated. 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. Accordingly,
readers should not place undue reliance on forward-looking
information. The Company does not undertake to update any
forward-looking information, whether as a result of new information
or future events or otherwise, except as may be required by
applicable securities laws.
TABLE 2: ASSAY RESULTS FROM 2021 ELG
UNDERGROUND DRILL PROGRAM – ELD DEPOSIT
|
|
|
|
|
|
|
|
Total |
|
|
|
Intersection |
|
|
|
|
Drill-Hole |
Program |
UTM-E |
UTM-N |
Elevation |
Azimuth |
Dip |
Length |
|
From |
To |
Core Length |
Au |
Ag |
Cu |
Lithology |
|
|
|
(m) |
(m) |
(m) |
(°) |
(°) |
(m) |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
|
|
LDUG-121 |
Step-out |
422,087.1 |
1,990,337.5 |
1,010.7 |
170 |
-73 |
331.5 |
|
263.3 |
267.0 |
3.7 |
1.19 |
1.1 |
0.06 |
Breccia |
|
LDUG-122 |
Infill |
422,114.3 |
1,990,459.3 |
1,011.8 |
65 |
-32 |
114.0 |
|
81.2 |
85.2 |
4.0 |
4.33 |
14.7 |
0.56 |
Skarn |
|
LDUG-126 |
Infill |
422,227.2 |
1,990,302.1 |
969.8 |
136 |
-15 |
102.0 |
|
40.5 |
44.0 |
3.5 |
56.25 |
9.4 |
0.18 |
Skarn |
|
|
|
|
|
|
|
|
|
|
56.0 |
65.0 |
9.0 |
9.87 |
8.1 |
0.29 |
Skarn |
|
LDUG-127 |
Infill |
422,114.0 |
1,990,424.7 |
1,011.2 |
65 |
-26 |
111.0 |
|
101.0 |
104.7 |
3.7 |
1.43 |
50.9 |
1.39 |
Skarn |
|
LDUG-129 |
Infill |
422,200.9 |
1,990,432.1 |
980.6 |
34 |
-81 |
60.0 |
|
23.5 |
30.0 |
6.5 |
12.87 |
9.9 |
0.26 |
Skarn |
|
LDUG-131 |
Infill |
422,114.3 |
1,990,402.9 |
1,011.2 |
61 |
-24 |
117.0 |
|
112.0 |
115.8 |
3.8 |
1.69 |
23.4 |
0.56 |
Skarn |
|
LDUG-133 |
Infill |
422,226.8 |
1,990,301.8 |
969.3 |
139 |
-28 |
93.0 |
|
32.9 |
37.8 |
5.0 |
10.21 |
5.1 |
0.18 |
Skarn |
|
|
|
|
|
|
|
|
|
|
72.8 |
77.8 |
5.0 |
3.52 |
19.5 |
0.45 |
Skarn |
|
LDUG-134 |
Infill |
422,100.0 |
1,990,354.7 |
1,011.1 |
63 |
-33 |
255.0 |
|
140.6 |
144.2 |
3.6 |
6.16 |
5.2 |
0.14 |
Skarn |
|
|
|
|
|
|
|
|
|
|
244.0 |
248.0 |
4.0 |
3.10 |
8.8 |
0.13 |
Skarn |
|
LDUG-135 |
Infill |
422,114.1 |
1,990,402.4 |
1,010.4 |
61 |
-51 |
264.0 |
|
183.5 |
200.6 |
17.1 |
0.38 |
23.4 |
1.06 |
Skarn |
|
LDUG-136 |
Infill |
422,114.5 |
1,990,393.1 |
1,011.0 |
65 |
-36 |
150.0 |
|
115.2 |
121.7 |
6.4 |
8.17 |
21.9 |
0.66 |
Skarn/Gdi |
|
LDUG-137 |
Infill |
422,226.6 |
1,990,301.6 |
969.3 |
140 |
-41 |
63.0 |
|
35.0 |
40.8 |
5.8 |
4.19 |
3.3 |
0.06 |
Skarn |
|
LDUG-138 |
Infill |
422,225.7 |
1,990,301.4 |
970.0 |
166 |
-10 |
96.0 |
|
82.1 |
89.2 |
7.1 |
6.40 |
1.3 |
0.06 |
Skarn |
|
LDUG-139 |
Infill |
422,088.7 |
1,990,338.1 |
1,010.7 |
130 |
-62 |
201.0 |
|
133.4 |
158.5 |
25.1 |
9.21 |
19.4 |
0.40 |
Skarn |
|
|
|
|
|
|
|
|
|
including |
143.5 |
149.4 |
5.9 |
14.27 |
64.1 |
0.80 |
Skarn |
|
|
|
|
|
|
|
|
|
& including |
153.9 |
157.9 |
4.0 |
17.76 |
3.3 |
0.05 |
Skarn |
|
LDUG-140 |
Infill |
422,114.5 |
1,990,393.1 |
1,011.0 |
70 |
-39 |
171.0 |
|
107.0 |
110.5 |
3.5 |
5.31 |
0.9 |
0.01 |
Skarn |
|
|
|
|
|
|
|
|
|
|
120.2 |
129.3 |
9.1 |
0.28 |
29.6 |
1.07 |
Skarn |
|
LDUG-141 |
Infill |
422,226.5 |
1,990,304.1 |
969.0 |
0 |
-90 |
45.0 |
|
18.3 |
21.8 |
3.5 |
2.01 |
4.0 |
0.11 |
Skarn |
|
LDUG-142 |
Infill |
422,227.4 |
1,990,302.8 |
969.9 |
116 |
-16 |
102.0 |
|
50.9 |
55.0 |
4.1 |
10.97 |
19.7 |
0.42 |
Skarn |
|
|
|
|
|
|
|
|
|
|
61.0 |
74.0 |
13.0 |
7.29 |
38.2 |
2.34 |
Skarn |
|
LDUG-143 |
Infill |
422,131.5 |
1,990,321.9 |
922.1 |
134 |
-8 |
129.0 |
|
32.4 |
36.9 |
4.5 |
18.08 |
3.3 |
0.12 |
Skarn |
|
|
|
|
|
|
|
|
|
|
53.8 |
59.2 |
5.3 |
5.65 |
2.4 |
0.04 |
Skarn |
|
|
|
|
|
|
|
|
|
|
66.4 |
72.2 |
5.8 |
4.76 |
4.0 |
0.14 |
Skarn |
|
|
|
|
|
|
|
|
|
|
85.0 |
93.5 |
8.5 |
6.00 |
8.2 |
0.42 |
Skarn |
|
LDUG-145 |
Infill |
422,227.2 |
1,990,302.3 |
969.9 |
127 |
-16 |
93.0 |
|
48.0 |
60.1 |
12.1 |
9.72 |
5.0 |
0.14 |
Skarn |
|
|
|
|
|
|
|
|
|
|
66.0 |
79.7 |
13.7 |
5.14 |
31.9 |
1.11 |
Skarn |
|
LDUG-146 |
Infill |
422,131.5 |
1,990,322.0 |
921.8 |
134 |
-20 |
90.0 |
|
28.0 |
54.4 |
26.4 |
7.02 |
4.4 |
0.16 |
Skarn |
|
LDUG-147 |
Infill |
422,227.0 |
1,990,302.5 |
969.4 |
123 |
-43 |
63.0 |
|
47.8 |
55.7 |
7.9 |
9.95 |
22.8 |
0.29 |
Skarn |
|
LDUG-148 |
Infill |
422,131.5 |
1,990,322.0 |
921.6 |
134 |
-33 |
93.0 |
|
33.0 |
76.5 |
43.5 |
9.65 |
4.4 |
0.18 |
Skarn |
|
|
|
|
|
|
|
|
|
including |
39.4 |
45.0 |
5.7 |
36.75 |
22.2 |
1.07 |
Skarn |
|
LDUG-149 |
Infill |
422,131.5 |
1,990,321.9 |
921.4 |
135 |
-45 |
96.0 |
|
36.0 |
70.0 |
34.0 |
15.04 |
14.7 |
0.66 |
Skarn |
|
|
|
|
|
|
|
|
|
including |
46.6 |
52.9 |
6.3 |
46.95 |
12.5 |
0.49 |
Skarn |
|
LDUG-150 |
Infill |
422,114.0 |
1,990,507.0 |
1,012.0 |
62 |
-40 |
111.0 |
|
98.0 |
101.7 |
3.7 |
9.05 |
17.9 |
0.45 |
Skarn |
|
LDUG-151 |
Infill |
422,113.9 |
1,990,492.6 |
1,012.0 |
63 |
-33 |
142.0 |
|
62.8 |
69.4 |
6.6 |
6.18 |
3.9 |
0.26 |
Skarn |
|
LDUG-152 |
Infill |
422,131.4 |
1,990,322.0 |
920.8 |
133 |
-57 |
189.0 |
|
40.2 |
62.7 |
22.5 |
21.52 |
12.7 |
0.53 |
Skarn |
|
|
|
|
|
|
|
|
|
including |
40.2 |
47.2 |
7.0 |
31.56 |
13.8 |
0.60 |
Skarn |
|
|
|
|
|
|
|
|
|
|
67.0 |
74.0 |
7.0 |
6.81 |
14.2 |
0.42 |
Skarn |
|
LDUG-153 |
Infill |
422,113.9 |
1,990,492.6 |
1,011.5 |
63 |
-49 |
102.0 |
|
70.3 |
78.0 |
7.7 |
19.79 |
4.8 |
0.52 |
Skarn |
|
LDUG-155 |
Infill |
422,160.0 |
1,990,259.1 |
929.3 |
115 |
-27 |
63.0 |
|
11.8 |
27.0 |
15.2 |
8.11 |
1.3 |
0.10 |
Skarn |
|
LDUG-158 |
Infill |
422,159.7 |
1,990,258.5 |
929.0 |
131 |
-37 |
60.0 |
|
13.7 |
17.5 |
3.7 |
2.99 |
1.1 |
0.01 |
Skarn |
|
LDUG-159 |
Infill |
422,159.4 |
1,990,258.7 |
928.4 |
131 |
-75 |
60.0 |
|
29.2 |
47.0 |
17.8 |
10.10 |
1.7 |
0.12 |
Skarn |
|
|
|
|
|
|
|
|
|
including |
40.5 |
44.8 |
4.3 |
26.25 |
33.7 |
1.04 |
Skarn |
|
LDUG-160 |
Infill |
422,159.1 |
1,990,257.5 |
928.5 |
157 |
-50 |
60.0 |
|
8.9 |
14.5 |
5.6 |
5.04 |
2.3 |
0.11 |
Skarn |
|
|
|
|
|
|
|
|
|
|
22.5 |
32.0 |
9.6 |
6.77 |
1.9 |
0.08 |
Skarn |
|
|
|
|
|
|
|
|
|
|
43.5 |
48.2 |
4.7 |
4.18 |
3.4 |
0.15 |
Skarn |
|
|
|
|
|
|
|
|
|
|
54.0 |
60.0 |
6.0 |
4.44 |
1.8 |
0.04 |
Gdi |
|
LDUG-162 |
Infill |
422,126.6 |
1,990,319.2 |
920.7 |
139 |
-25 |
102.0 |
|
32.0 |
42.7 |
10.7 |
7.77 |
2.4 |
0.12 |
Skarn |
|
|
|
|
|
|
|
|
|
|
53.3 |
62.0 |
8.7 |
5.38 |
0.9 |
0.02 |
Skarn |
|
LDUG-164 |
Infill |
422,125.0 |
1,990,317.3 |
922.3 |
165 |
-40 |
105.0 |
|
52.0 |
80.9 |
28.9 |
13.53 |
16.2 |
0.86 |
Skarn |
|
|
|
|
|
|
|
|
|
including |
57.8 |
62.0 |
4.2 |
19.23 |
18.6 |
1.04 |
Skarn |
|
LDUG-165 |
Infill |
422,128.7 |
1,990,319.8 |
920.9 |
170 |
-13 |
162.0 |
|
83.0 |
89.0 |
6.0 |
4.99 |
6.3 |
0.20 |
Skarn |
|
|
|
|
|
|
|
|
|
|
104.0 |
113.8 |
9.8 |
7.02 |
5.1 |
0.28 |
Skarn |
|
|
|
|
|
|
|
|
|
|
126.0 |
154.7 |
28.7 |
6.95 |
6.2 |
0.27 |
Skarn |
|
LDUG-166 |
Infill |
422,128.7 |
1,990,319.8 |
921.0 |
170 |
-20 |
162.0 |
|
91.0 |
132.0 |
41.0 |
8.92 |
4.0 |
0.21 |
Skarn |
|
|
|
|
|
|
|
|
|
including |
112.4 |
125.0 |
12.6 |
15.98 |
8.8 |
0.52 |
Skarn |
|
LDUG-168 |
Infill |
422,128.7 |
1,990,319.4 |
921.0 |
170 |
-28 |
150.0 |
|
65.0 |
71.4 |
6.4 |
4.66 |
5.4 |
0.24 |
Skarn |
|
|
|
|
|
|
|
|
|
|
111.2 |
117.6 |
6.4 |
12.90 |
2.3 |
0.26 |
Skarn/Gdi |
|
LDUG-169 |
Infill |
422,125.4 |
1,990,317.0 |
921.7 |
174 |
-17 |
171.0 |
|
106.0 |
110.0 |
4.0 |
5.70 |
1.8 |
0.07 |
Skarn |
|
LDUG-171 |
Infill |
422,125.3 |
1,990,317.0 |
921.5 |
177 |
-24 |
180.0 |
|
111.6 |
117.0 |
5.4 |
4.16 |
3.5 |
0.14 |
Skarn |
|
|
|
|
|
|
|
|
|
|
124.0 |
128.0 |
4.0 |
4.20 |
3.7 |
0.33 |
Skarn |
|
|
|
|
|
|
|
|
|
|
157.6 |
161.8 |
4.2 |
4.47 |
8.3 |
0.57 |
Skarn |
|
LDUG-173 |
Infill |
422,125.1 |
1,990,316.8 |
921.5 |
185 |
-20 |
243.0 |
|
129.6 |
134.1 |
4.5 |
6.62 |
10.9 |
0.69 |
Skarn |
|
|
|
|
|
|
|
|
|
|
143.0 |
153.0 |
10.0 |
8.14 |
13.1 |
0.63 |
Skarn |
|
|
|
|
|
|
|
|
|
|
159.0 |
165.8 |
6.8 |
9.40 |
5.7 |
0.26 |
Skarn |
|
|
|
|
|
|
|
|
|
|
171.1 |
179.6 |
8.5 |
9.76 |
12.0 |
0.53 |
Skarn |
|
|
|
|
|
|
|
|
|
|
195.0 |
199.9 |
4.9 |
9.06 |
13.1 |
0.41 |
Skarn |
|
LDUG-176 |
Infill |
422,125.1 |
1,990,316.9 |
921.3 |
185 |
-27 |
198.0 |
|
90.9 |
95.4 |
4.5 |
4.58 |
14.6 |
2.13 |
Skarn |
|
LDUG-178 |
Infill |
422,124.6 |
1,990,317.5 |
921.4 |
194 |
-26 |
150.0 |
|
91.6 |
97.2 |
5.6 |
0.36 |
0.5 |
0.01 |
Skarn |
|
LDUG-179 |
Infill |
422,124.8 |
1,990,316.9 |
921.0 |
194 |
-35 |
207.0 |
|
117.7 |
123.0 |
5.3 |
8.37 |
2.3 |
0.08 |
Skarn |
|
LDUG-180 |
Infill |
422,124.9 |
1,990,317.1 |
920.8 |
191 |
-43 |
162.0 |
|
87.0 |
91.7 |
4.7 |
3.49 |
3.7 |
0.18 |
Skarn |
|
LDUG-181 |
Infill |
422,125.1 |
1,990,317.1 |
921.0 |
185 |
-35 |
165.0 |
|
93.0 |
102.4 |
9.4 |
8.59 |
9.4 |
0.46 |
Skarn |
|
|
|
|
|
|
|
|
|
|
110.9 |
139.0 |
28.1 |
6.03 |
11.5 |
0.65 |
Skarn |
|
|
|
|
|
|
|
|
|
Including |
132.7 |
137.0 |
4.3 |
14.97 |
60.7 |
4.08 |
Skarn |
Notes to Table 2:
- Intersections do not represent true thickness of mineralized
zones
- Interval lengths for holes dipping between -45 to -90º have
been selected to represent a minimum mining height of 3.5 m
- Interval lengths for holes dipping between 0 and -45º have been
selected to represent a minimum horizontal length of 3.5 m
- Torex is not aware of any drilling, sampling, recovery, or
other factors that could materially affect the accuracy or
reliability of the data
- Gdi stands for granodiorite
TABLE 3: ASSAY RESULTS FROM 2021 ELG
UNDERGROUND DRILL PROGRAM – SUB-SILL DEPOSIT
|
|
|
|
|
|
|
|
Total |
|
|
|
Intersection |
|
|
|
|
Drill-Hole |
Program |
UTM-E |
UTM-N |
Elevation |
Azimuth |
Dip |
Length |
|
From |
To |
Core Length |
Au |
Ag |
Cu |
Lithology |
|
|
|
(m) |
(m) |
(m) |
(°) |
(°) |
(m) |
|
(m) |
(m) |
(m) |
(g/t) |
(g/t) |
(%) |
|
|
SST-213 |
Infill |
422,325.8 |
1,990,064.4 |
986.7 |
119 |
-70 |
360.0 |
|
343.9 |
349.4 |
5.5 |
9.54 |
5.1 |
0.14 |
Skarn |
|
SST-214 |
Infill |
422,167.0 |
1,990,095.5 |
955.0 |
136 |
-51 |
303.0 |
|
134.5 |
138.0 |
3.5 |
1.06 |
22.6 |
1.70 |
Skarn |
|
SST-215 |
Infill |
422,166.9 |
1,990,095.6 |
955.1 |
139 |
-39 |
282.0 |
|
177.8 |
183.2 |
5.5 |
3.78 |
0.5 |
0.01 |
Skarn |
|
SST-216 |
Infill |
422,166.8 |
1,990,095.2 |
955.5 |
137 |
-26 |
222.0 |
|
190.0 |
194.0 |
4.0 |
30.02 |
2.8 |
0.00 |
Skarn |
|
|
|
|
|
|
|
|
|
|
202.0 |
206.0 |
4.0 |
7.21 |
1.0 |
0.00 |
Skarn |
|
SST-217 |
Infill |
422,167.0 |
1,990,095.7 |
955.1 |
136 |
-46 |
169.3 |
|
132.7 |
137.5 |
4.8 |
1.16 |
23.7 |
0.49 |
Skarn |
|
SST-218 |
Infill |
422,167.2 |
1,990,096.0 |
955.1 |
119 |
-59 |
336.0 |
|
280.0 |
284.5 |
4.5 |
6.54 |
2.7 |
0.01 |
Skarn |
|
|
|
|
|
|
|
|
|
|
295.3 |
299.5 |
4.1 |
4.52 |
1.0 |
0.00 |
Gdi |
|
SST-219 |
Infill |
422,323.0 |
1,990,067.0 |
986.0 |
98 |
-72 |
364.0 |
|
346.7 |
352.5 |
5.8 |
0.16 |
1.4 |
0.07 |
Skarn |
|
SST-220 |
Infill |
422,323.0 |
1,990,067.0 |
986.0 |
299 |
-81 |
330.0 |
|
|
|
No skarn intercepted in the target zone |
|
|
SST-221 |
Infill |
422,366.0 |
1,989,980.0 |
1,007.0 |
131 |
-6 |
180.0 |
|
153.0 |
159.8 |
6.8 |
10.64 |
30.2 |
1.24 |
Skarn |
|
SST-222 |
Infill |
422,323.0 |
1,990,067.0 |
986.0 |
216 |
-87 |
464.7 |
|
258.0 |
265.7 |
7.7 |
4.74 |
4.3 |
0.10 |
Skarn |
|
SST-223 |
Infill |
422,366.0 |
1,989,980.0 |
1,007.0 |
131 |
-14 |
180.0 |
|
151.0 |
155.1 |
4.1 |
1.49 |
5.1 |
0.17 |
Skarn |
|
SST-224 |
Infill |
422,323.0 |
1,990,067.0 |
986.0 |
134 |
-78 |
312.0 |
|
293.0 |
297.5 |
4.5 |
1.66 |
3.5 |
0.13 |
Skarn |
|
SST-225 |
Infill |
422,366.3 |
1,989,980.7 |
1,007.4 |
126 |
-19 |
153.0 |
|
|
|
No skarn intercepted in the target zone |
|
|
SST-226 |
Infill |
422,323.0 |
1,990,067.0 |
986.0 |
112 |
-71 |
384.0 |
|
328.5 |
336.3 |
7.8 |
10.71 |
10.7 |
0.44 |
Skarn |
|
SST-227 |
Step-Out |
422,190.6 |
1,989,393.6 |
956.9 |
131 |
-61 |
150.0 |
|
|
|
No skarn intercepted in the target zone |
|
|
SST-228 |
Step-Out |
422,138.7 |
1,989,355.6 |
953.0 |
128 |
-54 |
207.0 |
|
163.7 |
167.7 |
4.0 |
1.53 |
5.6 |
0.07 |
Skarn |
|
SST-229 |
Infill |
422,323.0 |
1,990,067.0 |
986.0 |
118 |
-73 |
360.0 |
|
291.8 |
296.0 |
4.2 |
1.99 |
23.6 |
1.58 |
Skarn |
|
SST-231 |
Step-Out |
422,139.4 |
1,989,355.1 |
953.1 |
128 |
-70 |
305.0 |
|
188.8 |
194.4 |
5.6 |
4.15 |
38.8 |
2.35 |
Skarn |
|
SST-232 |
Step-Out |
422,141.4 |
1,989,394.5 |
955.0 |
136 |
-71 |
405.0 |
|
75.2 |
86.5 |
11.3 |
10.21 |
156.2 |
1.82 |
Skarn |
|
|
|
|
|
|
|
|
|
|
105.5 |
112.7 |
7.2 |
7.53 |
19.9 |
0.05 |
Skarn |
|
SST-233 |
Infill |
422,325.0 |
1,990,067.0 |
986.7 |
111 |
-74 |
363.0 |
|
307.2 |
311.7 |
4.4 |
3.64 |
11.2 |
0.58 |
Skarn |
|
|
|
|
|
|
|
|
|
|
320.9 |
327.0 |
6.1 |
4.83 |
12.2 |
0.74 |
Skarn |
|
|
|
|
|
|
|
|
|
|
350.7 |
355.2 |
4.5 |
6.78 |
0.8 |
0.02 |
Skarn |
|
SST-234 |
Step-Out |
422,141.8 |
1,989,465.7 |
987.9 |
124 |
-57 |
573.0 |
|
97.5 |
101.8 |
4.3 |
4.18 |
5.9 |
0.17 |
Skarn |
|
SST-235 |
Step-Out |
422,086.2 |
1,989,397.5 |
944.4 |
150 |
-70 |
501.0 |
|
336.0 |
340.3 |
4.2 |
2.54 |
2.5 |
0.15 |
Skarn |
|
SST-237 |
Step-Out |
422,012.3 |
1,989,300.7 |
875.2 |
120 |
-60 |
435.0 |
|
29.0 |
34.0 |
5.0 |
0.04 |
0.8 |
0.12 |
Skarn |
|
SST-238 |
Infill |
422,332.7 |
1,990,014.5 |
1,007.5 |
89 |
-84 |
312.0 |
|
279.4 |
287.4 |
7.9 |
4.12 |
0.6 |
0.01 |
Skarn |
|
SST-241 |
Infill |
422,324.9 |
1,990,067.1 |
986.6 |
107 |
-76 |
396.0 |
|
294.0 |
303.0 |
9.0 |
4.63 |
2.5 |
0.07 |
Skarn |
|
SST-244 |
Infill |
422,330.1 |
1,990,018.8 |
1,007.8 |
58 |
-88 |
330.0 |
|
275.2 |
300.0 |
24.8 |
5.72 |
1.6 |
0.16 |
Skarn |
Notes to Table 3:
- Intersections do not represent true thickness of mineralized
zones
- Interval lengths for holes dipping between -45 to -90º have
been selected to represent a minimum mining height of 3.5 m
- Interval lengths for holes dipping
between 0 and -45º have been selected to represent a minimum
horizontal length of 3.5 m
- Torex is not aware of any drilling,
sampling, recovery, or other factors that could materially affect
the accuracy or reliability of the data
- Gdi stands for granodiorite
FIGURE 1 – LONG-SECTION THROUGH NORTHERN
AREA OF THE ELD DEPOSITFigure 1 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/cd17a9b1-12ed-45c4-957e-3bf319658db9
FIGURE 2 – LONG-SECTION THROUGH CENTRAL
AREA OF THE ELD DEPOSITFigure 2 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/ba4ca738-6fd8-443f-916f-4cc91de68a9f
FIGURE 3 – LONG-SECTION THROUGH SOUTHERN
AREA OF THE ELD DEPOSITFigure 3 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/a63507f4-18c2-4414-b31f-8215806a514d
FIGURE 4 – LONG-SECTION THROUGH
SUB-SILLFigure 4 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/7e493f7f-de05-4c16-8d9d-1390915d7bc9
FIGURE 5 – CROSS-SECTION THROUGH SUB-SILL
DEPOSITFigure 5 is available
at https://www.globenewswire.com/NewsRoom/AttachmentNg/da30147e-ce41-42e7-8cd9-a9b214d7de46
Torex Gold Resources (TSX:TXG)
Historical Stock Chart
From Dec 2024 to Jan 2025
Torex Gold Resources (TSX:TXG)
Historical Stock Chart
From Jan 2024 to Jan 2025
