Torex continues toward 5 million ounces GOLD!
Torex Continues to Expand the El Limon Deposit
TORONTO, ONTARIO–(Marketwire – Nov. 1, 2011) – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) continues to encounter high grade gold mineralization as it defines and expands its El Limon deposit in Mexico. Drilling results suggest the continued eastern extension of the southern end of the deposit, and a new opportunity with a south-western extension. These results indicate the potential to add significant ounces to the upcoming resource estimate scheduled for March of 2012.
Significant mineralized intervals at the eastern end of the deposit include 18.01g/t over 8.0m including 29.23g/t over 3.20m in borehole TMP-1241, 5.08g/t over 23.3m including 31.75g/t over 3.0m in borehole TMP-1222 and 6.38g/t over 10.6m including 36.97g/t over 1.4m in borehole TMP-1228.
“These excellent results from our largest deposit continue to give us the confidence that we will attain the 5.0 million ounces of gold (M&I) in our new resource estimate” said Fred Stanford, President & CEO of Torex. “We are also paying particular attention to the results from borehole TMP-1138 to the southwest of the deposit. The results from this borehole, support our model that the mineralization ‘rings around’ the intrusion and provides initial indication that the mineralization may continue towards the south in the direction of the Balsas River, similar to previously reported results at our Guajes West deposit,” he added.
Highlights for step-out drilling southwest and southeast of El Limon deposit:
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Interval (m)
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Interval
BH ID Area From To Length (m) Au (g/t) Lithology
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TMP-1138 El Limon 84.95 88.45 3.50 4.65 Porphyry
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TMP-1222 El Limon 28.24 51.50 23.26 5.08 Skarn
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Including 41.50 44.50 3.00 31.71 Skarn
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69.50 78.00 8.50 2.87 Skarn
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TMP-1224 El Limon 18.45 22.75 4.30 3.31 Hornfels
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TMP-1225 El Limon 34.35 49.70 15.35 3.63 Hornfels, Skarn
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Including 42.35 48.25 5.90 5.76 Skarn
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72.12 79.50 7.38 3.06 Skarn
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TMP-1227 El Limon 57.00 70.80 13.80 2.45 Skarn
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TMP-1228 El Limon 22.10 32.65 10.55 6.38 Skarn
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Including 23.60 25.00 1.40 36.97 Skarn
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TMP-1241 El Limon 30.00 37.95 7.95 18.01 Skarn
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Including 33.00 36.20 3.20 29.23 Skarn
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TMP-1242 El Limon 43.20 48.10 4.90 5.04 Skarn
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Please refer to Table 1 for a full list of significant intercepts and Figure 1 and Figure 2 for borehole locations. Figure 2 includes previously released boreholes to emphasize the continuity and widening of the mineralized area to the east of the southern end of the El Limon deposit.
Quality Assurance/Quality Control
At the Morelos Gold Project, all of the analytical work is performed by SGS de Mexico S.A. de C.V. (“SGS”) in Mexico. Sample preparation is done at a dedicated sample preparation laboratory operated by SGS at the project site in Nuevo Balsas, Guerrero, Mexico. The Au analyses (fire assay with an atomic absorption or gravimetric finish) and multi-element geochemical analyses are completed by SGS at their analytical facilities in Durango, Durango, Mexico. Torex has a Quality Assurance/Quality Control (“QA/QC”) program in place that includes 5% each of the Certified Reference Materials, blanks, field duplicates and preparation duplicates. The QA/QC program as designed has been approved by AMEC E&C Services, Inc. and is overseen by Alejandro Kakarieka, Vice President of Exploration for Torex.
The Company follows strict QA/QC protocol measures in keeping with industry standards and regulatory reporting requirements. Mr. Jerry E. Snider, B.Sc. Mining Engineering, MBA, Project Manager of Torex, is the Qualified Person who has reviewed this news release, and is responsible for the technical information reported herein, including verification of the data disclosed, the sampling, analytical and test data underlying the technical information.
Further information regarding the Morelos Gold Project is contained in the Technical Report effective October 6, 2009 and entitled “Gleichen Resources Ltd., Morelos Gold Project, Guerrero, Mexico, NI 43-101 Technical Report”.
Torex Gold Resources Inc. is a well funded, growth-oriented, Canadian mining company engaged in the exploration and development of precious metal resources with a focus on gold. It owns 100% of the Morelos Gold Project, an advanced stage gold exploration property, located 180km southwest of Mexico City in the highly prospective Morelos Gold Belt. The project covers an area of 29,000ha of which more than 75% remains unexplored.
To view Table 1, please visit the following link: http://media3.marketwire.com/docs/limon31.pdf
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/limonfig131.pdf
To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/limonfig231.pdf
