Results indicate strong potential to further expand resources and continue to extend mine life
(All amounts expressed in U.S. dollars unless otherwise stated)
Toronto, Ontario--(Newsfile Corp. - June 27, 2024) - Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG) announces assay results from the Company's ongoing drilling program at El Limón Guajes ("ELG") Underground. The results to date support Torex's target of extending the mine life of ELG Underground beyond 2028 by identifying new zones of higher-grade mineralization, expanding resources, and increasing reserves.
Jody Kuzenko, President & CEO of Torex, stated:
"Building off the success of the 2023 drilling program, which resulted in a two-year mine life extension, drilling at ELG Underground continues to deliver results that bolster our ability to continue to replace mined reserves. This, combined with the potential for EPO to come into the mine plan, supports our strategy of maintaining annual gold equivalent production above 450,000 ounces through 2033. A number of the newly reported drill holes confirm mineralization beyond the boundary of known resources - to the south and at depth at the El Limón Sur Trend, to the west along the El Limón Deep Trend, and to the north along the Sub-Sill Trend. This further demonstrates that the true mineralization potential of this orebody is yet to be fully realized. We continue to see ELG Underground as a deposit that year-over-year can consistently deliver resource growth and reserve replacement, which is expected to result in significant cash flow generation that will support the growth of Torex across the Morelos Property and beyond."
HIGHLIGHTS
Initial results from the 2024 drilling program at ELG Underground continued to build off the success of the programs from prior years, demonstrating the potential to grow mineral resources, extend high-grade mineralization, and support extending the reserve life of ELG Underground beyond 2028.
El Limón Sur Trend
Drill hole LS-310 of the Advanced Exploration program in the southern ore shoot returned an intercept of 7.19 grams per tonne gold equivalent ("gpt AuEq") over 12.2 meters ("m") approximately 100 m below the high-grade intercepts reported in 2023. This indicates that mineralization at the El Limón Sur Trend may extend both to the south and at depth.
Drilling as part of the Resource Delineation program in the northern ore shoot has returned high-grade intercepts, confirming the potential to extend Inferred Resources along the 500 m above sea level ("m.a.s.l.") level. Drill hole LDUG-321 delivered two noteworthy intercepts of 10.70 gpt AuEq over 3.1 m and 3.42 gpt AuEq over 3.0 m.
El Limón Deep Trend
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