Click here to close now.

Welcome!

News Feed Item

Torex Completes In-Fill Drilling Program at El Limon Sur

TORONTO, ONTARIO -- (Marketwired) -- 06/26/14 -- Torex Gold Resources Inc. (the "Company" or "Torex") (TSX: TXG)(TSX: TXG.WT) is pleased to announce completion of its in-fill drilling program covering the near-surface portion of the El Limon Sur area at its El Limon-Guajes Gold Project in Mexico. Highlighted intercepts from the in-fill drilling include 22.2 g/t Au over 12.3m in borehole LS-02, 7.2 g/t Au over 34.1m in borehole LS-20, 4.8 g/t Au over 23.5m in borehole LS-33, and 8.0 g/t Au over 15.2m in borehole LS-41. The El Limon Sur area is located on the south face of El Limon hill.

Fred Stanford, President & CEO of Torex stated: "The intent of this drilling program is to upgrade the inferred resources at El Limon Sur to the indicated category. The drill program results have been submitted to AMEC for resource modelling and we expect to have an updated resource estimate available in early August. With that upgraded information our teams can then put together a mine plan with the objective of taking advantage of the processing plant capacity that is available during the ramp up of the Guajes and El Limon pits in 2016. The proximity of El Limon Sur to the El Limon access road and the near surface nature of the mineralization, make El Limon Sur an excellent potential source of additional feed for the processing plant during the ramp-up period." He added, "In order to minimize risks to the schedule, the process for developing the permit applications is already underway."


---------------------------------------------------------------------------
                      Interval (m)
---------------------------------------------------------------------------
BH ID   Area            From      To Interval Length (m) Au (g/t) Lithology
---------------------------------------------------------------------------
LS-02   EL Limon Sur    20.6    32.9                12.3    22.23   Breccia
---------------------------------------------------------------------------
LS-20   EL Limon Sur    45.0    79.1                34.1     7.19     Skarn
---------------------------------------------------------------------------
LS-33   EL Limon Sur    58.3    81.8                23.5     4.80   Breccia
---------------------------------------------------------------------------
LS-41   EL Limon Sur    88.5   103.7                15.2     8.05     Skarn
---------------------------------------------------------------------------

Notes: True thickness of the mineralized zone is unknown and is reported as drill-hole length.

Please refer to Table 1 for a complete list and expanded description of the borehole intercepts reported in this press release. Refer to Figures 1-4 for borehole locations.

To see Table 1, please click on the following link: http://media3.marketwire.com/docs/TorexTable1.pdf

To see Figures 1-4, please click on the following link: http://media3.marketwire.com/docs/TorexFigures1-4.pdf

The El Limon Sur area is located on the south face of El Limon hill. Mineralization is situated along a southwest-trending ridge and extends approximately 725 m. In this program, thirty-eight diamond drill holes were completed over selected portions of the El Limon Sur area. These holes, in-fill portions of inferred resources that were estimated from 42 previous holes (see Guajes and El Limon Open Pit Deposits, Updated Mineral Resource Statement, NI 43-101 Technical Report dated June 18, 2012). The current program had the objective of delineating the boundaries of the near-surface; easily-accessible portions of the inferred resources and to in-fill the drill-spacing within these areas to potentially allow for upgrading of the resources to a minable class. Mineralization at El Limon Sur remains partially open at depth, however the objective of the current drilling is to test only near-surface areas.

The El Limon Sur area is underlain by a similar stratigraphic succession as the southeastern portion of the El Limon deposit. In general, marbleized and hornfelsed sedimentary rocks are in contact with the El Limon granodiorite intrusive. Post mineralization, felsic dikes and sills are also common. Pyroxene-garnet skarn occurs along the contact between hornfels or marble and granodiorite.

There are two main areas of near-surface gold mineralization at El Limon Sur that are separated by a zone of mostly barren granodiorite. The northernmost mineralized area is characterized by retrograde-altered exoskarn. The exoskarn contains sulfides and local argillic alteration. The southern mineralized area is smaller in extent and consists of dominantly endoskarn along with hydrothermal breccias. The hydrothermal breccias are developed within skarn and often display thin laminations and size-graded layering. The mineralized zones are strongly oxidized in the near-surface.

QA/QC and Qualified Persons

All of the El Limon Sur project 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 in 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 being 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 MML.

The scientific and technical data contained in this news release 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 its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. Within this property, Torex has two projects: the El Limon and Guajes Project, currently under development, and the Media Luna Project, at an advanced stage of exploration. Torex intends to identify a pipeline of future economic deposits within its property, which remains 75% 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 future exploration and development plans of the Company and the timing of a future resource calculation. 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 the risk factors identified in the Company's annual information form and management's discussion and analysis. 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. 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. 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
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the ...
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, will explore the IoT cloud-based platform technologies drivi...
DevOps Summit, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th 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 development...
WebRTC converts the entire network into a ubiquitous communications cloud thereby connecting anytime, anywhere through any point. In his session at WebRTC Summit,, Mark Castleman, EIR at Bell Labs and Head of Future X Labs, will discuss how the transformational nature of communications is achieved through the democratizing force of WebRTC. WebRTC is doing for voice what HTML did for web content.
To many people, IoT is a buzzword whose value is not understood. Many people think IoT is all about wearables and home automation. In his session at @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, discussed some incredible game-changing use cases and how they are transforming industries like agriculture, manufacturing, health care, and smart cities. He will discuss cool technologies like smart dust, robotics, smart labels, and much more. Prepare...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Overgrown applications have given way to modular applications, driven by the need to break larger problems into smaller problems. Similarly large monolithic development processes have been forced to be broken into smaller agile development cycles. Looking at trends in software development, microservices architectures meet the same demands. Additional benefits of microservices architectures are compartmentalization and a limited impact of service failure versus a complete software malfunction. ...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises ar...
SYS-CON Events announced today that Secure Infrastructure & Services will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Secure Infrastructure & Services (SIAS) is a managed services provider of cloud computing solutions for the IBM Power Systems market. The company helps mid-market firms built on IBM hardware platforms to deploy new levels of reliable and cost-effective computing and hig...
IT data is typically silo'd by the various tools in place. Unifying all the log, metric and event data in one analytics platform stops finger pointing and provides the end-to-end correlation. Logs, metrics and custom event data can be joined to tell the holistic story of your software and operations. For example, users can correlate code deploys to system performance to application error codes. In his session at DevOps Summit, Michael Demmer, VP of Engineering at Jut, will discuss how this can...
"AgilData is the next generation of dbShards. It just adds a whole bunch more functionality to improve the developer experience," noted Dan Lynn, CEO of AgilData, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
The basic integration architecture, as defined by ESBs, hasn’t changed for more than a decade. Most cloud integration providers still rely on an ESB architecture and their proprietary connectors. As a result, enterprise integration projects suffer from constraints of availability and reliability of these connectors that are not re-usable across other integration vendors. However, the rapid adoption of APIs and almost ubiquitous availability of APIs amongst most SaaS and Cloud applications are ra...