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 kilometres southwest of Mexico City. Within this property, Torex has two projects: the El Limon-Guajes Project, currently under development, and the Media Luna Project, at an advanced stage of exploration.
Construction at El Limon-Guajes, located north of the Balsas River, started on November 1st, 2013 and is expected to be finalized in 21 months. This high grade, open pit gold deposit has current measured and indicated resources of 4.8 million ounces of gold at a grade of 2.79 g/t plus 620,000 ounces of gold at a grade of 2.0 g/t in the inferred category. Once completed, this mine will be amongst the largest and lowest cost gold mines in the world. It will be a mine we will be proud to run.
The Media Luna deposit, hosted in a magnetic anomaly south of the Balsas River, was discovered in March of 2012 and has current inferred resources of 5.8 million gold equivalent ounces at a grade of 4.55 g/t. This resource is contained in less than 25% of the area of the targeted magnetic anomalies.
Torex intends to identify a pipeline of future economic deposits within its property, which remains 75% unexplored.
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