Torex Gold Resources Inc. (the "Company" or "Torex")
(TSX:TXG)(TSX:TXG.WT.A) is pleased to report that the resource
drilling program at its Media Luna target in Mexico continues to
intersect high grade Au-Ag-Cu mineralization over significant
widths, including, in the West Zone, 27.02 g/t Au eq. over 5.2m in
borehole WZML-28 located outside the magnetic anomaly, and 17.54
g/t Au eq. over 5.2m in borehole WZML-24. Highlighted intercepts in
the North East Zone include, 7.68 g/t Au eq. over 16.7m in borehole
NEZML-04A; 3.91 g/t Au eq. over 49.5m in borehole NEZML-20 and
13.61 g/t Au eq. over 8.4m in borehole NEZML-27.
In addition, the Company reports that AMEC E&C Services Inc.
has completed a study to determine the borehole spacing required
for a mineral resource estimate for Media Luna. The report
concluded that a spacing of 100m by 100m is sufficient for an
Inferred resource classification; 30m by 30m for an Indicated
classification, and 15m by 15m is required for a measured
classification. The company has been drilling on a 100m by 100m
grid and expects to complete the resource drilling program in the
next few weeks and be in receipt of a maiden inferred resource
estimate by early Q4/13.
Fred Stanford, President & CEO of Torex stated: "We continue
to be encouraged by the results of the in-fill resource drilling
program which has demonstrated the continuity of the
mineralization, within the area of the Media Luna magnetic anomaly.
Equally encouraging results have come from the step-out resource
drilling program, which has demonstrated that in at least one area,
the mineralization continues beyond the boundaries of the zone of
high magnetic intensity. The results from approximately 80,000
meters drilled to date in the resource drilling program, and from
the approximately 10,000 meters that remain in the program, will
underpin the maiden inferred resource estimate that is expected in
early Q4/13. The resource estimate will represent an area of
approximately 120 hectares or about 40% of the Media Luna magnetic
anomaly. If the area of Media Luna West and Todos Santos are
included in the total area calculation, then the resource estimate
will represent approximately 25% of the area of the magnetic
anomalies in the Media Luna Area." He added, "As the resource
drilling program wraps up, a few drill rigs will continue to test
the magnetic anomalies to extend the strike length and will
continue searching for new discoveries by testing targets outside
of the Media Luna Area."
Highlights of resource drilling at Media Luna
----------------------------------------------------------------------------
Intersection
--------------
Core Au
From To Length Au Ag Cu equivalent Lithology
----------------------------------------------------------------------------
BH I.D. (m) (m) (m) (g/t) (g/t) (%) (g/t)
----------------------------------------------------------------------------
NEZML-04A 642.0 658.7 16.7 4.55 35.38 1.65 7.68 Skarn
----------------------------------------------------------------------------
NEZML-20 457.7 507.2 49.5 3.48 5.38 0.22 3.91 Skarn
----------------------------------------------------------------------------
WZML-24 469.5 475.1 5.6 5.13 4.52 0.46 5.90 Skarn
----------------------------------------------------------------------------
WZML-24 500.6 505.8 5.2 16.55 15.51 0.47 17.54 Skarn
----------------------------------------------------------------------------
WZML-36 507.6 550.9 43.4 1.39 33.60 1.30 3.96 Skarn
----------------------------------------------------------------------------
WZML-34 468.6 488.1 19.5 1.27 76.82 3.26 7.58 Skarn
----------------------------------------------------------------------------
CZML-24 343.4 351.2 7.8 8.17 18.35 1.05 10.08 Skarn
----------------------------------------------------------------------------
NEZML-27 428.2 436.6 8.4 6.64 75.52 3.42 13.16 Skarn
----------------------------------------------------------------------------
WZML-28 503.3 508.5 5.2 26.90 3.13 0.04 27.02 Skarn
----------------------------------------------------------------------------
WZML-06 532.7 542.0 9.3 3.28 90.94 4.54 11.78 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 1-5 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 1-3 refer to these sectors.
A total of 128 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 geophysical survey has recently
been completed to help highlight significant structural zones that
may have been critical mineralizing fluid conduits. The ZTEM data
is in the process of being interpreted.
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. Further target generation work is planned for areas both
south and north of the Balsas River when ZTEM survey
interpretations are received.
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 the table associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/txg0618table.pdf.
To view the figures associated with this press release, please
visit the following link:
http://media3.marketwire.com/docs/txg0618figs1to5.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
Torex Gold Resources (TSX:TXG)
Gráfico Histórico do Ativo
De Dez 2024 até Jan 2025
Torex Gold Resources (TSX:TXG)
Gráfico Histórico do Ativo
De Jan 2024 até Jan 2025
