Welcome!

News Feed Item

Torex Drills Highest Grade Gold Mineralization to Date at Media Luna

TORONTO, ONTARIO -- (Marketwire) -- 12/14/12 -- Torex Gold Resources Inc. (the "Company" or "Torex") (TSX:TXG)(TSX:TXG.W.A.) is pleased to report that it has recently intersected several of the highest grade gold intercepts drilled thus far at the Media Luna and Media Luna West targets at the Company's Morelos Gold Project in Mexico. At Media Luna, borehole ML-35 intersected 30.31 g/t Au over 21.0m; borehole ML-79 intersected 15.56 g/t Au over 12.2m; borehole ML-11A intersected 28.60 g/t Au over 5.2m. At Media Luna West, borehole MLW-02 intersected15.68 g/t Au over 5.9m. The gold and gold equivalent values for the 23 boreholes being reported today are shown in the Highlight Table and in Table 1.

Fred Stanford, President & CEO of Torex stated: "the Company's focus on drilling the magnetic anomalies in the Media Luna Area has been very successful in discovering both high grade gold intersections and thick intervals of potentially economic gold mineralization. The two magnetic anomalies drilled to date, which cover approximately 391 hectares, appear to represent very large gold mineralizing systems that warrant extensive additional drilling to define the size and grade of the gold zones. In addition, there are several untested magnetic anomalies that appear to have similar potential." He added, "the drilling within the magnetic anomalies has resulted in the discovery of local areas containing very high-grade gold along with significant copper and silver values. The drilling along the edges and outside of the magnetic anomalies (13 of the 23 boreholes being reported today) has allowed the Company to start to define the boundaries of the large Media Luna gold mineralized areas. The focus of the on-going exploration will continue to drill test the length and width of the Media Luna and Media Luna West magnetic anomalies and to initiate testing of additional highly prospective magnetic anomalies in the area."


                                                                            
Highlights of drill results from inside the magnetic anomalies of Media Luna
                             and Media Luna West                            
                                                                            
----------------------------------------------------------------------------
              Intersection     Core                             Au          
           ----------------                                                 
               From      To  Length     Au     Ag    Cu Equivalent          
BH I.D.         (m)     (m)     (m)  (g/t)  (g/t)   (%)      (g/t) Lithology
----------------------------------------------------------------------------
ML-35        550.45  571.42   20.97  30.31  44.21  1.14      32.84     Skarn
----------------------------------------------------------------------------
ML-79        401.86  414.10   12.24  15.56  15.56  1.99      19.19     Skarn
----------------------------------------------------------------------------
ML-11A       505.91  511.08    5.17  28.60  26.43  1.39      31.17     Skarn
----------------------------------------------------------------------------
MLW-02       675.87  726.65   50.78   3.53   1.62  0.00       3.56     Skarn
----------------------------------------------------------------------------
and          752.09  757.95    5.86  15.68   3.17  0.06      15.83     Skarn
----------------------------------------------------------------------------
ML-20        331.95  336.30    4.35  11.69 107.21  4.71      20.74     Skarn
----------------------------------------------------------------------------
ML-152       384.85  391.63    6.78   5.87  52.81  1.59       9.24     Skarn
----------------------------------------------------------------------------
                                                                            
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                                                                   

To view Table 1 for a complete list and expanded description of the intercepts, please vist the following link: http://media3.marketwire.com/docs/841805_Table_1.pdf.

To view Figures 1-4 for borehole locations, please visit the following link: http://media3.marketwire.com/docs/841805_Figures1-4.pdf.

Forty-three drill holes have been completed at Media Luna over a strike length of approximately 1.85 km and a width of 1 km. All but one of these holes has intersected significant skarn alteration, and that hole intersected a post mineralization dike at the target zone. Massive-magnetite sulfide mineralization, with associated skarn appears to correlate closely to the area of the most intense magnetic anomalism. Skarn alteration continues in drilling beyond the margins of the magnetic high, however, at this early stage, better grade gold mineralization appears to be more consistently associated with magnetic high area. Within the magnetic high area, high grade gold is often found associated with the massive-magnetite sulfide mineralization. However, high grade gold also occurs in sulfide-bearing skarn without magnetite.

Copper mineralization, with elevated silver and low but anomalous gold, and associated with pyrrhotite-bearing skarn, has been intersected outside of the magnetic anomaly.

At Media Luna West, gold is also associated with magnetite-sulfide mineralization within the area of more intense magnetic anomalism. Several additional magnetic targets occur near the Media Luna and Media Luna West areas and these targets are scheduled to be tested later in the drill program.

The potential quantity and grade of the exploration targets are conceptual in nature and there has been insufficient exploration to define a mineral resource and it is uncertain if further exploration will result in the determination of a mineral resource.

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 2% 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 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% 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Have you ever noticed how some IT people seem to lead successful, rewarding, and satisfying lives and careers, while others struggle? IT author and speaker Don Crawley uncovered the five principles that successful IT people use to build satisfying lives and careers and he shares them in this fast-paced, thought-provoking webinar. You'll learn the importance of striking a balance with technical skills and people skills, challenge your pre-existing ideas about IT customer service, and gain new in...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business. Though, IoT is far more complex than most firms expected with a majority of IoT projects having failed. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, Chief IoTologist at Wipro, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology portfolios and business models to adopt and leverage IoT. He will delve in...
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
In his session at @ThingsExpo, Steve Wilkes, CTO and founder of Striim, will delve into four enterprise-scale, business-critical case studies where streaming analytics serves as the key to enabling real-time data integration and right-time insights in hybrid cloud, IoT, and fog computing environments. As part of this discussion, he will also present a demo based on its partnership with Fujitsu, highlighting their technologies in a healthcare IoT use-case. The demo showcases the tracking of pati...
Tricky charts and visually deceptive graphs often make a case for the impact IT performance has on business. The debate isn't around the obvious; of course, IT performance metrics like website load time influence business metrics such as conversions and revenue. Rather, this presentation will explore various data analysis concepts to understand how, and how not to, assert such correlations. In his session at 20th Cloud Expo, Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Sys...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Stratoscale, the software company developing the next generation data center operating system, exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016.Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere, IT is empowered to take control of their data ce...