Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) is
pleased to report positive assay results from the Company’s ongoing
drill program at the El Limón Guajes underground mine, including
zones referred to as Sub-Sill and El Limón Deep (“ELD”)
(collectively the “ELG Underground”). The latest drilling results
support the Company’s strategic priority to optimize and extend the
mine life of ELG Underground beyond current reserves.
Jody Kuzenko, President & CEO of Torex,
stated:
“ELG Underground has been a significant driver
of Mineral Reserve and Resource growth over the last several years,
and the latest results from the ongoing drill campaign continue to
validate our positive outlook. We are excited about the long-term
prospects of the ELG Underground given the potential to continue to
grow higher grade reserves and resources while steadily increasing
mining rates toward a target of 2,000 tonnes per day. The upside
reserve potential of the ELG Underground also supports our plan to
fill the mill beyond 2027, when, on the current reserve case, Media
Luna is expected to become the sole source of feed to the
processing plant.
“At ELD, infill drilling successfully
intersected high grade mineralization 110 metres (“m”) below the
current reserve envelope, which bodes well for reserve replacement
and ongoing reserve growth. Key intersects include 16.96 grams per
tonne gold (“g/t Au”) over a core length of 17.5 m, 16.87 g/t Au
over 9.7 m, 10.39 g/t Au over 11.7 m, and 13.49 g/t Au over 5.5
m.
“Step-out and infill drilling at Sub-Sill South
has also been positive with several impressive intersects,
including 7.18 g/t Au over a core length of 21.3 m, 10.01 g/t Au
over 9.7 m and 7.66 g/t Au over 8.9 m. Although further drilling is
required, results to date highlight the potential for Sub-Sill
South to be developed into a new underground mining front. Sub-Sill
South is located 120 m south of the producing Sub-Sill deposit and
470 m north of a zone of mineralization below the El Limón Sur open
pit.
“Additionally, Portal #3 ramp development to the
lower areas of ELD and Sub-Sill is now complete. Construction of
drill platforms are in progress, which will allow the Company to
more effectively carry out infill and step-out drilling at depth at
both Sub-Sill and ELD. The completion of Portal #3 will also reduce
underground haul distances, which is expected to support further
efficiencies and cost containment initiatives within the ELG
Underground.”
Table 1: Key highlights from recent
drilling at ELG Underground
|
Drill Hole1 |
Area |
Program |
From(m) |
To(m) |
Core Length(m) |
Au(g/t) |
Ag(g/t) |
Cu(%) |
|
LDUG-185 |
ELD |
Infill |
102.5 |
120.0 |
17.5 |
16.96 |
1.4 |
0.01 |
|
|
including |
|
105.5 |
114.0 |
8.5 |
29.29 |
2.1 |
0.01 |
|
LDUG-211 |
ELD |
Infill |
24.2 |
34.0 |
9.7 |
16.87 |
2.9 |
0.22 |
|
LDUG-183 |
ELD |
Infill |
142.8 |
154.5 |
11.7 |
10.39 |
2.9 |
0.05 |
|
LDUG-196 |
ELD |
Infill |
86.2 |
91.6 |
5.5 |
13.49 |
8.0 |
0.22 |
|
LDUG-197 |
ELD |
Step-out |
183.0 |
191.2 |
8.2 |
8.52 |
23.4 |
1.69 |
|
LDUG-183 |
ELD |
Infill |
65.0 |
70.0 |
5.0 |
10.37 |
10.5 |
0.51 |
|
LDUG-184 |
ELD |
Infill |
87.0 |
99.5 |
12.5 |
5.48 |
3.6 |
0.15 |
|
SST-261 |
Sub-Sill South |
Step-out |
227.8 |
249.1 |
21.3 |
7.18 |
26.4 |
0.77 |
|
SST-268 |
Sub-Sill South |
Step-out |
221.1 |
230.9 |
9.7 |
10.01 |
10.9 |
0.30 |
|
SST-263 |
Sub-Sill South |
Step-out |
234.1 |
243.0 |
8.9 |
7.66 |
5.6 |
0.12 |
|
SST-259 |
Sub-Sill |
Infill |
213.3 |
225.4 |
12.1 |
7.65 |
5.6 |
0.40 |
|
SST-245 |
Sub-Sill |
Infill |
319.0 |
324.1 |
5.1 |
9.72 |
4.9 |
0.15 |
Notes to Drill Results Highlights
Table:1) Intersections do not represent true
thickness of mineralized zones2) Core lengths
subject to rounding3) Interval lengths for holes
dipping between -45 to -90º have been selected to represent a
minimum mining height of 3.5 m4) Interval lengths
for holes dipping between 0 and -45º have been selected to
represent a minimum horizontal length of 3.5
m5) Torex is not aware of any drilling, sampling,
recovery, or other factors that could materially affect the
accuracy or reliability of the data
Detailed assay results from the most recent drilling within the
ELG Underground can be found in Table 2 (ELD), Table 3 (Sub-Sill)
and Table 4 (Sub-Sill South).
ELG UNDERGROUND – INFILL AND EXPANSION
DRILL PROGRAMS
In 2022, the Company plans to drill 27,000 m
within the ELG Underground through a mix of infill and step-out
drilling. Infill drilling is targeting to upgrade Inferred
Resources within the Sub-Sill and ELD deposits.
Step-out drilling is targeting lateral and
vertical extensions of both deposits as well as expanding other
zones such as Sub-Sill South. As of the end of June, assay results
for 11,400 m of drilling (53 holes) specific to the ELG Underground
program have been received. These results include 6,220 m (28
holes) from the 2021 drilling program, for which assay results were
received post the cut-off date for year-end 2021 Mineral Reserve
and Resource estimates.
At ELD, drilling returned several high-grade
intersects below the current reserve envelope while also testing
lateral extensions of the deposit. Drill results from ELD can be
found in Figures 2 and 3 as well as Table 2.
The 2022 program targeting extensions of the
Sub-Sill deposit commenced in July, with drilling activities
expected to ramp-up through the remainder of the year with the
completion of Portal #3, which will allow the Company to more
effectively target vertical extensions of both Sub-Sill and ELD,
while continuing to upgrade Inferred Resources to the
Measured/Indicated categories. Drilling completed as part of the
2021 program (for which assays were received post the reserve and
resource cut-off date) can be found in Figure 4 and Table 3. Given
that drilling in this area recently commenced, only a portion of
the assays from the 2022 drill program at Sub-Sill are expected to
be received prior to the cut-off date for the 2022 year-end reserve
and resource update.
Drilling targeting Sub-Sill South (a zone of
mineralization between Sub-Sill and El Limón Sur) also returned
several high-grade intersects that, when combined with previous
drilling, highlights the potential for a new mining front within
the ELG Underground. While further drilling is required to
determine the extent of the mineralization, if Sub-Sill South is
developed, underground development required to access the zone
could be leveraged to access another potential mining front below
the El Limón Sur open pit. Drill results from Sub-Sill South can be
found in Figure 5 and Table 4.
Drilling below the El Limón Sur open pit (part
of the regional and near-mine program planned in 2022) is in
progress. Results from this drilling are expected to be released
later this year.
ELG UNDERGROUND MINE – A SIGNIFICANT
VALUE DRIVER
The ELG Underground has been a key value driver
for Torex as reserves have been expanded and the mining rate has
steadily risen. Proven & Probable Reserves for the ELG
Underground were estimated at 494,000 ounces of gold (2.675 million
tonnes at an average grade of 5.74 g/t gold) at the end of 2021,
representing a 20% increase year-over-year.
Since underground mining commenced in late 2017,
the ELG Underground has produced approximately 288,000 ounces of
gold through the end of 2021 (327,000 ounces mined prior to process
plant recoveries at an average gold grade of 7.45 g/t). Cumulative
gold mined, plus reserves as at year-end 2021, is more than 3.5
times greater than the initial underground gold reserves of 183,000
ounces estimated as of December 31, 2017.
The ELG Underground is on track for another
strong year of production in 2022, with 43,000 ounces of gold
produced (50,000 ounces of gold mined prior to process recoveries
at 5.98 g/t gold) in the first half of the year. Over the last
three calendar years, annual production from the ELG Underground
has averaged approximately 85,000 ounces (97,000 ounces prior to
process recoveries at an average gold grade of 7.36 g/t).
The strong start to the year has been supported
by increased mining rates, including a quarterly record of 1,580
tonnes per day (“tpd”) during Q2 2022. The Company sees the
potential to increase mining rates in the ELG Underground to 2,000
tpd, driven by the benefit of shorter haul distances with
completion of Portal #3, the potential to leverage long-hole
stoping in portions of the deposit, and ongoing productivity
improvements.
Based on the March 2022 Technical Report,
estimated reserves within the ELG Underground were sufficient to
support mining to mid-2027. Assay results received to date support
ongoing reserve and resource growth within the ELG Underground,
which is expected to result in a longer life of mine.
MORELOS PROPERTY – 2022 EXPLORATION AND
DRILLING PROGRAM
Torex expects to invest approximately $39M in
drilling and exploration across the broader Morelos Property
(Figure 1) in 2022, including $5M of definition and grade control
drilling within the current operations.
Figure 1: Broader Morelos Property – 2022 drill
program primarily focused on Media Luna Cluster, ELG Underground
(part of ELG Complex) as well as near-mine and regional
targets: https://www.globenewswire.com/NewsRoom/AttachmentNg/2400abde-5f34-4c2d-86b3-5717efc01d3a
The Company’s exploration and drill program is
primarily focused on upgrading and expanding Mineral Resources at
Media Luna and EPO as well as continued expansion of the ELG
Underground.
- Media Luna:
Approximately $19M is budgeted for infill and step-out drilling at
Media Luna as well as an initial infill drill program at the
adjacent EPO deposit. A total of 64,000 m of drilling is budgeted
at Media Luna. Costs of the program are being classified as
non-sustaining capital expenditures.
- ELG Underground:
Approximately $6M is budgeted for infill and step-out drilling
within the ELG Underground. Drilling targeting deeper extensions of
the Sub-Sill and ELD deposits commenced in July. Drilling activity
is expected to increase with the completion of Portal #3. A total
of 27,000 m of drilling is budgeted for the ELG Underground in
2022. Infill and step-out program costs are being classified as
capital expenditures and are included in the sustaining capital
expenditure and all-in sustaining cost guidance for ELG.
- Near Mine and
Regional: Approximately $9M is budgeted to conduct
exploration across the broader land package, including drilling of
near mine targets totaling 28,500 m of drilling (including 15,000 m
for the underground potential below the El Limón Sur open pit) as
well as regional exploration north and south of the Balsas River
(6,000 m of drilling). The program expenditures are being
classified as exploration expenses.
- Definition and Grade
Control: Approximately $5M is budgeted for ore control and
definition drilling in the ELG Open Pit and Underground. The costs
associated with these programs are included in mining operating
expenses and, therefore, reflected in total cash cost and all-in
sustaining cost guidance.
ELG UNDERGROUND GEOLOGY
The ELD and Sub-Sill deposits are distinct
portions of the larger El Limón Guajes (“ELG”) 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 ELG 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.
In Sub-Sill South, the mineralization is hosted
in a skarn zone developed in the top and along the flanks of a
vertical body of marble surrounded by granodiorite, underlying ELD.
The skarn strikes approximately 10° northwest and dips between
vertical and 70° west, following the contact of the marble and the
intrusive. The skarn zone is well developed in the upper part of
the marble block, where it reaches thicknesses that exceed 55
metres and horizontal widths up to 70 meters. Information is still
lacking to better understand the geometry of this skarn zone and
its continuity at depth.
The style of mineralization at Sub-Sill South is
like Sub-Sill and ELD, and 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 PERSON
Torex 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 at Minera Media Luna site facilities, 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 has been reviewed and approved by Carolina Milla,
P.Eng. Ms. Milla is a member of the Association of Professional
Engineers and Geoscientists of Alberta (Member ID #168350), has
experience relevant to the style of mineralization under
consideration, is a qualified person under NI-43-101, and is an
employee of Torex. Ms. Milla has verified the data disclosed,
including sampling, analytical, and test data underlying the drill
results; verification included visually reviewing the drillholes in
three dimensions, comparing the assay results to the original assay
certificates, reviewing the drilling database, and reviewing core
photography consistent with standard practice. Ms. Milla 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 technical
report entitled the “Morelos Property, NI 43-101 Technical Report,
ELG Mine Complex Life of Mine Plan and Media Luna Feasibility
Study, Guerrero State, Mexico”, dated effective March 16, 2022
filed on March 31, 2022 (the “Technical Report”) on SEDAR at
www.sedar.com and the Company’s website at www.torexgold.com.
ABOUT TOREX GOLD RESOURCES
INC.
Torex is an intermediate gold producer based in
Canada, engaged in the exploration, development, and operation of
its 100% owned Morelos 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 asset is the
Morelos Complex, which includes the El Limón Guajes (“ELG”) Mining
Complex, the Media Luna Project, a processing plant and related
infrastructure. Commercial production from the Morelos Complex
commenced on April 1, 2016 and an updated Technical Report for the
Morelos Complex was released in March 2022. Torex’s key strategic
objectives are to extend and optimize production from the ELG
Mining Complex, de-risk and advance Media Luna to commercial
production, build on ESG excellence, and to grow through ongoing
exploration across the entire Morelos Property.
FOR FURTHER INFORMATION, PLEASE
CONTACT:
| TOREX GOLD RESOURCES
INC. |
|
| Jody
Kuzenko |
Dan Rollins |
| President and CEO |
Senior Vice President, Corporate
Development & Investor Relations |
| Direct: (647) 725-9982 |
Direct: (647) 260-1503 |
|
jody.kuzenko@torexgold.com |
dan.rollins@torexgold.com |
ADDITIONAL INFORMATION ON ELG
UNDERGROUND RESERVE ESTIMATESAs at December 31, 2021,
Proven Reserves for the ELG Underground were estimated at 0.11
million tonnes at an average grade of 7.23 g/t gold and Probable
Reserves for the ELG Underground were estimated at 2.566 million
tonnes at an average grade of 5.68 g/t gold. Additional information
on the ELG Underground Mineral Reserve and Resource estimates is
set out in the Technical Report.
CAUTIONARY NOTES ON FORWARD LOOKING
STATEMENTSThis 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 about:
potential for ongoing reserve growth and a new mining front at
Sub-Sill South; latest results from the ongoing drill campaign
continue to validate the Company’s positive outlook about the ELG
Underground’s Mineral Reserve and Resource growth; the long-term
prospects of the ELG Underground, given the potential to continue
to grow higher grade reserves and resources while steadily
increasing mining rates toward a target of 2,000 tonnes per day;
the upside reserve potential of the ELG Underground supporting the
Company’s plan to fill the mill beyond 2027; expectation that Media
Luna will become the sole source of feed to the processing plant
beyond 2027 based on the current mineral reserve estimate; the
drilling results at ELD bodes well for reserve replacement and
ongoing reserve growth; results to date of the step-out drilling at
Sub-Sill highlight the potential for this zone to be developed into
a new underground mining front; construction of drill platforms
will allow the Company to more effectively carry out infill and
step-out drilling at depth, at both Sub-Sill and ELD and reduce
underground haul distances, which is expected to support further
efficiencies and cost containment initiatives within the ELG
Underground; planned drill programs, timelines, budgets and
objectives/targets for 2022, including upgrading of mineral
resources; the potential for a new mining front, Sub-Sill South,
within the ELG Underground; if Sub-Sill South is developed,
underground development required to access the zone could be
leveraged to access another potential mining front below the El
Limón Sur open pit; the ELG Underground is on track for another
strong year of production in 2022; the potential to increase mining
rates in the ELG Underground to 2,000 tpd, driven by the benefit of
shorter haul distances with completion of Portal #3, the potential
to leverage long-hole stoping in portions of the deposit, and
ongoing productivity improvements; based on the March 2022
Technical Report, estimated reserves within the ELG Underground
were sufficient to support mining to mid-2027; assay results
received to date support ongoing reserve and resource growth within
the ELG Underground, which is expected to result in a longer
overall life of mine; and the Company’s key strategic objectives to
extend and optimize production from the ELG Mining Complex, de-risk
and advance Media Luna to commercial production, build on ESG
excellence, and to grow through ongoing exploration across the
entire Morelos Property. Generally, forward-looking information can
be identified by the use of forward-looking terminology such as
“strategy”, “focus”, “budget”, “continue”, “potential”, “ongoing”
or variations of such words and phrases or statements that certain
actions, events or results “will”, 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: the ability to upgrade mineral
resources categories of mineral resources with greater confidence
levels or to mineral reserves; the ability to replace mineral
reserves that have been mined; risks associated with mineral
reserve and mineral resource estimation; uncertainty involving
skarns deposits; the ability of the Company to obtain additional
permits for the Media Luna Project; the ability of the Company to
successfully construct and operate in an economically viable manner
as projected in the Media Luna Feasibility Study; the ability of
the Company to fully fund the Media Luna Project to production; the
ability of the Company’s mining and exploration operations to
operate as intended due to shortage of skilled employees or
shortages in supply chains; 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 is
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.
Figure 2: Infill and step-out drilling at ELD
(Section
A-A’): https://www.globenewswire.com/NewsRoom/AttachmentNg/aee0b599-b64d-4ae8-b13b-38b66391963c
Figure 3: Infill and step-out drilling to the north
of ELD
(B-B’): https://www.globenewswire.com/NewsRoom/AttachmentNg/efbeecb6-ce94-40b5-a238-f079579a8a38
Figure 4: Infill drilling at Sub-Sill
(C-C’): https://www.globenewswire.com/NewsRoom/AttachmentNg/83289fb1-d6c5-462d-a26d-129a4c39d70f
Figure 5: Infill and step-out drilling at Sub-Sill
South
(D-D’): https://www.globenewswire.com/NewsRoom/AttachmentNg/a79e6c0a-e3ae-47f4-a22d-0ec02a1086ea
Table 2: Drill results from infill and step-out drilling
at ELD
|
|
|
|
|
|
|
|
|
|
|
|
|
Intersection |
|
|
|
|
Drill-Hole |
Area |
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-182 |
ELD |
Infill |
422,125.2 |
1,990,317.3 |
920.8 |
181 |
-46 |
189.0 |
|
147.0 |
152.0 |
5.0 |
7.95 |
8.6 |
0.15 |
Skarn |
|
LDUG-183 |
ELD |
Infill |
422,125.2 |
1,990,317.3 |
920.8 |
182 |
-55 |
180.0 |
|
65.0 |
70.0 |
5.0 |
10.37 |
10.5 |
0.51 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
142.8 |
154.5 |
11.7 |
10.39 |
2.9 |
0.05 |
Skarn |
|
LDUG-184 |
ELD |
Infill |
422,125.3 |
1,990,317.2 |
921.1 |
177 |
-32 |
171.0 |
|
87.0 |
99.5 |
12.5 |
5.48 |
3.6 |
0.15 |
Skarn |
|
LDUG-185 |
ELD |
Infill |
422125.3 |
1990317.6 |
920.8 |
188 |
-62 |
204.0 |
|
75.7 |
80.0 |
4.3 |
4.46 |
6.2 |
0.37 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
102.5 |
120.0 |
17.5 |
16.96 |
1.4 |
0.01 |
Skarn |
|
|
|
|
|
|
|
|
|
|
Including |
105.5 |
114.0 |
8.5 |
29.29 |
2.1 |
0.01 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
129.0 |
135.0 |
6.0 |
6.33 |
1.5 |
0.01 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
151.0 |
156.2 |
5.2 |
6.14 |
1.2 |
0.05 |
Skarn |
|
LDUG-186 |
ELD |
Step-Out |
422053.3 |
1990439.0 |
1012.2 |
128 |
-78 |
741.0 |
|
136.0 |
140.0 |
4.0 |
0.17 |
1.3 |
0.07 |
Skarn |
|
LDUG-187 |
ELD |
Infill |
422249.6 |
1990442.6 |
948.1 |
290 |
-87 |
147.0 |
|
47.2 |
50.7 |
3.5 |
0.68 |
7.7 |
0.17 |
Skarn/GDI |
|
LDUG-188 |
ELD |
Step-Out |
422212.3 |
1990155.3 |
1022.8 |
146 |
-60 |
102.0 |
|
89.8 |
93.3 |
3.5 |
3.03 |
9.2 |
0.68 |
Skarn |
|
LDUG-189 |
ELD |
Step-Out |
422122.2 |
1990190.2 |
936.7 |
151 |
-20 |
111.0 |
|
75.3 |
80.1 |
4.8 |
2.42 |
1.2 |
0.05 |
Skarn |
|
LDUG-190 |
ELD |
Step-Out |
422167.2 |
1990182.4 |
1023.0 |
123 |
-70 |
130.0 |
|
77.0 |
80.9 |
3.8 |
2.62 |
2.5 |
0.07 |
Skarn |
|
LDUG-191 |
ELD |
Infill |
422248.4 |
1990441.3 |
948.0 |
254 |
-77 |
141.0 |
|
91.3 |
98.6 |
7.3 |
2.47 |
11.4 |
0.30 |
Skarn |
|
LDUG-192 |
ELD |
Infill |
422249.3 |
1990439.3 |
948.1 |
198 |
-70 |
102.0 |
|
79.1 |
85.5 |
6.4 |
0.38 |
5.0 |
0.15 |
Skarn |
|
LDUG-193 |
ELD |
Step-Out |
422121.3 |
1990191.0 |
936.4 |
170 |
-42 |
136.5 |
|
100.1 |
103.6 |
3.5 |
0.96 |
3.6 |
0.13 |
Skarn |
|
LDUG-194 |
ELD |
Infill |
422250.8 |
1990438.7 |
948.1 |
159 |
-74 |
102.0 |
|
67.3 |
71.0 |
3.7 |
1.09 |
5.2 |
0.10 |
Skarn |
|
LDUG-195 |
ELD |
Step-Out |
422167.0 |
1990181.5 |
1023.0 |
155 |
-50 |
140.0 |
|
117.5 |
121.0 |
3.5 |
2.30 |
26.4 |
1.81 |
Skarn |
|
LDUG-196 |
ELD |
Infill |
422,068.1 |
1,990,277.3 |
879.8 |
100 |
-60 |
180.0 |
|
86.2 |
91.6 |
5.5 |
13.49 |
8.0 |
0.22 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
122.9 |
127.0 |
4.1 |
9.00 |
9.1 |
0.24 |
Skarn |
|
LDUG-197 |
ELD |
Step-Out |
421,998.7 |
1,990,227.4 |
946.7 |
123 |
-52 |
249.0 |
|
155.7 |
160.5 |
4.8 |
5.52 |
6.2 |
0.36 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
183.0 |
191.2 |
8.2 |
8.52 |
23.4 |
1.69 |
Skarn |
|
LDUG-198 |
ELD |
Step-Out |
422168.6 |
1990183.1 |
1022.9 |
108 |
-49 |
120.0 |
|
98.7 |
107.5 |
8.8 |
2.39 |
9.9 |
0.62 |
Skarn |
|
LDUG-199 |
ELD |
Step-Out |
422121.3 |
1990210.8 |
1022.6 |
141 |
-46 |
162.0 |
|
142.8 |
146.5 |
3.7 |
2.31 |
0.5 |
0.04 |
Skarn |
|
LDUG-200 |
ELD |
Step-Out |
422,122.1 |
1,990,212.6 |
1,022.5 |
100 |
-48 |
150.0 |
|
128.3 |
135.0 |
6.7 |
5.88 |
8.5 |
0.41 |
Skarn |
|
|
|
|
|
|
|
|
|
|
including |
131.5 |
135.0 |
3.5 |
10.33 |
13.7 |
0.63 |
Skarn |
|
LDUG-201 |
ELD |
Step-Out |
422122.6 |
1990213.8 |
1022.6 |
84 |
-51 |
150.0 |
|
100.4 |
105.0 |
4.6 |
15.34 |
1.7 |
0.04 |
Skarn |
|
LDUG-202 |
ELD |
Step-Out |
422120.9 |
1990211.2 |
1022.6 |
142 |
-56 |
156.0 |
|
132.0 |
136.6 |
4.6 |
1.71 |
2.5 |
0.10 |
Skarn |
|
LDUG-203 |
ELD |
Infill |
422027.2 |
1990283.4 |
878.2 |
92 |
-43 |
180.0 |
|
126.0 |
133.0 |
7.0 |
6.65 |
0.6 |
0.00 |
Skarn |
|
LDUG-204 |
ELD |
Infill |
422026.7 |
1990282.3 |
878.2 |
116 |
-53 |
183.0 |
|
167.1 |
171.0 |
3.9 |
4.10 |
2.3 |
0.06 |
Skarn |
|
LDUG-205 |
ELD |
Infill |
422212.0 |
1990154.9 |
1022.9 |
174 |
-51 |
111.0 |
|
77.7 |
81.9 |
4.2 |
3.78 |
0.5 |
0.00 |
Skarn |
|
LDUG-206 |
ELD |
Infill |
422113.9 |
1990492.3 |
1012.0 |
81 |
-42 |
100.0 |
|
92.7 |
97.1 |
4.4 |
2.79 |
16.0 |
0.31 |
Skarn |
|
LDUG-208 |
ELD |
Infill |
422113.9 |
1990493.1 |
1011.9 |
67 |
-39 |
153.0 |
|
80.3 |
83.8 |
3.5 |
2.22 |
13.1 |
0.66 |
MSO/Skarn |
|
LDUG-209 |
ELD |
Infill |
422113.6 |
1990493.0 |
1011.6 |
65 |
-62 |
102.0 |
|
78.3 |
83.0 |
4.7 |
4.33 |
30.8 |
0.56 |
Skarn |
|
LDUG-210 |
ELD |
Infill |
422113.4 |
1990494.0 |
1011.5 |
46 |
-47 |
110.0 |
|
74.1 |
80.5 |
6.4 |
2.51 |
6.5 |
0.47 |
Skarn |
|
LDUG-211 |
ELD |
Infill |
422106.0 |
1990622.0 |
1015.0 |
81 |
-1 |
57.0 |
|
24.2 |
34.0 |
9.7 |
16.87 |
2.9 |
0.22 |
Skarn |
Notes to Table1) Intersections do not represent
true thickness of mineralized zones2) Core lengths
subject to rounding3) Interval lengths for holes
dipping between -45 to -90º have been selected to represent a
minimum mining height of 3.5 m4) Interval lengths
for holes dipping between 0 and -45º have been selected to
represent a minimum horizontal length of 3.5
m5) Torex is not aware of any drilling, sampling,
recovery, or other factors that could materially affect the
accuracy or reliability of the data
Table 3: Drill results from infill drilling at
Sub-Sill
|
|
|
|
|
|
|
|
|
|
|
|
|
Intersection |
|
|
|
|
Drill-Hole |
Area |
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-245 |
Sub-Sill |
Infill |
422324.8 |
1990067.0 |
986.7 |
100 |
-77 |
369.0 |
|
319.0 |
324.1 |
5.1 |
9.72 |
4.9 |
0.15 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
333.2 |
338.3 |
5.1 |
4.73 |
1.6 |
0.03 |
Skarn |
|
SST-246 |
Sub-Sill |
Infill |
422260.1 |
1990054.9 |
1024.1 |
80 |
-86 |
340.5 |
|
288.6 |
297.0 |
8.4 |
0.94 |
1.7 |
0.04 |
Skarn |
|
SST-249 |
Sub-Sill |
Infill |
422324.8 |
1990066.7 |
986.6 |
126 |
-78 |
321.0 |
|
272.5 |
277.0 |
4.5 |
3.22 |
1.8 |
0.14 |
Skarn |
|
SST-254 |
Sub-Sill |
Infill |
422330.0 |
1990016.2 |
1007.7 |
152 |
-75 |
252.0 |
|
185.0 |
190.0 |
5.0 |
8.78 |
18.4 |
1.57 |
Skarn |
|
|
Sub-Sill |
|
|
|
|
|
|
|
|
224.0 |
228.1 |
4.1 |
3.72 |
18.8 |
0.18 |
Skarn |
|
SST-259 |
Sub-Sill |
Infill |
422330.2 |
1990016.3 |
1007.8 |
190 |
-78 |
261.0 |
|
213.3 |
225.4 |
12.1 |
7.65 |
5.6 |
0.40 |
Skarn |
Notes to Table1) Intersections do not represent
true thickness of mineralized zones2) Core lengths
subject to rounding3) Interval lengths for holes
dipping between -45 to -90º have been selected to represent a
minimum mining height of 3.5 m4) Interval lengths
for holes dipping between 0 and -45º have been selected to
represent a minimum horizontal length of 3.5
m5) Torex is not aware of any drilling, sampling,
recovery, or other factors that could materially affect the
accuracy or reliability of the data
Table 4: Drill results from step-out and infill drilling
at Sub-Sill South
|
|
|
|
|
|
|
|
|
|
|
|
|
Intersection |
|
|
|
|
Drill-Hole |
Area |
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-250 |
Sub-Sill South |
Infill |
422103.3 |
1989763.3 |
1092.2 |
116 |
-68 |
254.0 |
|
194.6 |
198.6 |
4.0 |
3.52 |
15.0 |
0.45 |
Skarn |
|
SST-252 |
Sub-Sill South |
Infill |
422103.1 |
1989763.7 |
1092.2 |
88 |
-79 |
281.0 |
|
177.0 |
184.0 |
7.0 |
2.44 |
1.3 |
0.03 |
Skarn |
|
SST-255 |
Sub-Sill South |
Infill |
422103.8 |
1989763.9 |
1092.2 |
96 |
-63 |
230.0 |
|
171.0 |
176.2 |
5.2 |
0.59 |
0.7 |
0.01 |
Skarn |
|
SST-256 |
Sub-Sill South |
Infill |
422100.1 |
1989770.4 |
1092.2 |
70 |
-74 |
266.0 |
|
198.0 |
206.6 |
8.6 |
5.34 |
5.8 |
0.40 |
Skarn |
|
SST-257 |
Sub-Sill South |
Infill |
422102.4 |
1989764.7 |
1092.2 |
304 |
-78 |
338.0 |
|
200.1 |
208.0 |
7.9 |
1.47 |
2.9 |
0.04 |
Skarn |
|
SST-260 |
Sub-Sill
South |
Step-out |
422101.3 |
1989764.2 |
1092.2 |
81 |
-77 |
246.0 |
|
196.2 |
201.9 |
5.7 |
4.72 |
6.7 |
0.61 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
206.5 |
213.0 |
6.5 |
7.57 |
3.1 |
0.07 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
216.7 |
221.3 |
4.6 |
5.73 |
3.5 |
0.06 |
Skarn |
|
SST-261 |
Sub-Sill South |
Step-out |
422101.2 |
1989763.6 |
1092.2 |
40 |
-73 |
270.0 |
|
227.8 |
249.1 |
21.3 |
7.18 |
26.4 |
0.77 |
Skarn |
|
SST-262 |
Sub-Sill South |
Step-out |
422100.6 |
1989765.0 |
1092.2 |
113 |
-75 |
284.0 |
|
276.4 |
280.1 |
3.7 |
3.93 |
0.5 |
0.01 |
Skarn |
|
SST-263 |
Sub-Sill
South |
Step-out |
422098.1 |
1989768.0 |
1092.3 |
18 |
-71 |
300.0 |
|
234.1 |
243.0 |
8.9 |
7.66 |
5.6 |
0.12 |
Skarn |
|
|
|
|
|
|
|
|
|
|
|
258.8 |
268.3 |
9.5 |
5.14 |
6.9 |
0.32 |
Skarn |
|
SST-264 |
Sub-Sill South |
Step-out |
422102.9 |
1989762.3 |
1092.1 |
161 |
-68 |
210.0 |
|
114.5 |
119.1 |
4.6 |
8.73 |
21.5 |
0.06 |
Hornfels |
|
SST-265 |
Sub-Sill South |
Step-out |
422098.1 |
1989768.1 |
1092.2 |
359 |
-75 |
339.0 |
|
251.7 |
257.0 |
5.3 |
4.64 |
2.8 |
0.07 |
Skarn |
|
SST-266 |
Sub-Sill South |
Step-out |
422099.0 |
1989769.4 |
1092.1 |
345 |
-71 |
354.0 |
|
280.8 |
284.3 |
3.5 |
0.35 |
1.0 |
0.07 |
Skarn |
|
SST-267 |
Sub-Sill South |
Step-out |
422102.0 |
1989764.6 |
1092.1 |
137 |
-65 |
225.0 |
|
190.1 |
194.4 |
4.3 |
1.19 |
2.0 |
0.01 |
Skarn |
|
SST-268 |
Sub-Sill South |
Step-out |
422101.5 |
1989764.2 |
1092.1 |
56 |
-73 |
252.0 |
|
221.1 |
230.9 |
9.7 |
10.01 |
10.9 |
0.30 |
Skarn |
|
SST-269 |
Sub-Sill South |
Step-out |
422103.6 |
1989761.6 |
1092.5 |
101 |
-42 |
204.0 |
|
123.2 |
130.7 |
7.5 |
0.01 |
0.5 |
0.00 |
Skarn |
|
SST-270 |
Sub-Sill South |
Step-out |
422099.4 |
1989767.8 |
1092.1 |
14 |
-77 |
267.0 |
|
218.5 |
224.9 |
6.4 |
4.70 |
2.5 |
0.13 |
Skarn/MSO |
|
SST-271 |
Sub-Sill South |
Step-out |
422102.9 |
1989764.7 |
1092.4 |
107 |
-59 |
240.0 |
|
159.6 |
165.3 |
5.8 |
0.44 |
0.9 |
0.05 |
Skarn |
|
SST-272 |
Sub-Sill South |
Step-out |
422102.4 |
1989766.7 |
1092.3 |
76 |
-84 |
249.0 |
|
195.0 |
199.2 |
4.2 |
1.32 |
1.2 |
0.02 |
Skarn |
|
SST-273 |
Sub-Sill South |
Step-out |
422102.4 |
1989766.4 |
1093.4 |
257 |
-84 |
291.0 |
|
206.7 |
212.0 |
5.3 |
2.37 |
5.3 |
0.13 |
Skarn |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes to Table1) Intersections do not represent
true thickness of mineralized zones2) Core lengths
subject to rounding3) Interval lengths for holes
dipping between -45 to -90º have been selected to represent a
minimum mining height of 3.5 m4) Interval lengths
for holes dipping between 0 and -45º have been selected to
represent a minimum horizontal length of 3.5
m5) Torex is not aware of any drilling, sampling,
recovery, or other factors that could materially affect the
accuracy or reliability of the data
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