Torex Receives Required Environmental Permits for the Morelos Gold Project
13 Junho 2013 - 7:00AM
Marketwired
Torex Gold Resources Inc. (the "Company" or "Torex")
(TSX:TXG)(TSX:TXG.WT.A) announced today that it has received final
acceptance of the Environmental Impact Assessment (MIA) and The
Change of Land Use (ETJ) Permits for its Morelos Gold Project in
southwestern Mexico. The environmental protection programs,
required during construction, have been requested by the regulator
(SEMARNAT) and have been submitted by Torex. Upon acceptance of
these submissions, construction is anticipated to start in July of
this year.
Permits were previously granted for the upgrading of the
existing portions of the east service road from the site to Highway
I95, and for the construction of roads that will allow drill access
to high priority targets in the Media Luna Exploration Area,
including Media Luna, Media Luna West and Todos Santos. The Company
is also in receipt of water usage concessions for all the water
needs of the processing plant and other infrastructure.
Fred Stanford, President & CEO of Torex stated: "Our special
recognition goes to the Torex teams, and supporting consultants,
for their respectful and professional handling of the permitting
process, to the local communities for their continuing support, and
to the regulators for making the permitting process a timely,
efficient and transparent exercise."
Mr. Stanford also stated: "In anticipation of the receipt of the
construction and operation permits, the Company pre-ordered
approximately US$90 million of long lead-time equipment. In
addition, the mobilization of mining equipment is well advanced
with purchased equipment at an assembly location near the project
site. Contractor selection for early works is also well advanced.
With the previous receipt of permits for portions of the east
service road and the water well fields, construction activities in
those areas have already begun." He added: "With these significant
de-risking milestones behind us, we look forward to building a high
quality, and environmentally sound project that will deliver
significant economic benefit to our shareholders and which all of
our stakeholders will be proud to be a part of."
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%
remains 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
acceptance of environmental protection programs and construction of
the Company's Morelos Gold Project. 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
Torex Gold Resources (TSX:TXG)
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