Torex is a well-funded, 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 construction, and the Media Luna Project, at an advanced stage of exploration.
The 21-month construction at El Limon-Guajes started on November 1st, 2013. 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 in full production, 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. Scoping work into a preliminary economic assessment for Media Luna is expected to be completed by Q3/2015.
Torex intends to identify a pipeline of future economic deposits within its property, which remains 75% unexplored.
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