Update On Montagne d‚Or Gold Project in French Guiana VANCOUVER - Columbus Gold…
Torex Announces High Grade Sub-Sill Resource
Torex Announces High Grade Sub-Sill Resource
TORONTO, ON – Torex Gold Resources Inc. reported a, CIM Definition Standards compliant, mineral resource estimate for its Sub-Sill deposit of 324,000 Inferred gold ounces and 89,000 Indicated gold ounces, at a cut-off grade of 2.5g/t Au. The Inferred resource is contained in 1.33 million tonnes at an average Au grade of 7.58 g/t. The Indicated resource is contained in 353,000 tonnes at an average Au grade of 7.82 g/t. The Sub-Sill deposit is located in close proximity to the Company’s ELG processing plant in Southwest Mexico and remains open in several directions.
Fred Stanford, President and CEO said, "The Sub-Sill provides the potential to offer a material increase in the near-term ounces produced through the ELG processing plant as a result of the high grade and the rapid advance of the planned 600 meter access ramp. The ramp is now less than 170 meters (4 m/d advance rate) from the anticipated contact with the skarn rocks that host the Sub-Sill deposit. Mine planning is underway and the mine design effort will seek to pull production of the highest-grade tonnes to as early in the mine plan as possible. It is worth noting that in the resource estimate there are 147,000 Au ounces in 260,000 Inferred tonnes averaging 17.45 g/t Au, and 45,000 Au ounces in 90,000 Indicated tonnes averaging 15.98 g/t Au." He added, "The Sub-Sill deposit also has the potential to increase in size. It remains open in all directions, including at depth. The deposit, as currently defined, covers an area of approximately 22,000 m2. The prospective area to test for expansions of the deposit covers an area of approximately 1,000,000 m2, with additional potential at depth. In early Q2/17, the next phase of the Sub-Sill exploration diamond drill program will begin. 15,000 meters of drilling are included in the program with an expectation that it will be completed over the following 6 months. One objective of the drill program is increasing the drill density in 1,000,000 of the Inferred tonnes to that required for the potential to upgrade to the Indicated confidence level. The drill program will also test the deeper magnetic target, a patterned step-out drilling of an area of 90,000 m2, and a few distant step-out holes to test the extents of the prospective area. Results from this program will be released as they are received and interpreted."
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