Torex Gold Resources Inc TXG:CA announced assay results from the El Limon Deposit of its Morelos Gold Project in Mexico. Highlights include 0.6 g/t gold over 45.3 metres, 13.5 g/t over 7.5 metres (including 32.55 g/t over 3 metres), 1.37 g/t over 10 metres, 2.24 g/t over 9.8 metres, 2.05 g/t over 19.5 metres and 1.64 g/t over 36.8 metres (including 4.16 g/t over 7.1 metres).
President/CEO Fred Stanford tells ResourceClips.com, “It’s a project that Teck Resources Limited TCK.B:CA worked on for 10 years before they sold all their gold assets in 2009. It’s got three million ounces measured and indicated now and another 900,000 inferred. There are three deposits that are identified, El Limon, Los Guajes East and Los Guajes West. This press release dealt with El Limon, which has two thirds of the resource, and it’s been untouched for the last three years, so this was the first opportunity to get back in there and start exploring. We only started in mid-September, and it’s already starting to show signs of expanding up dip and down dip.
“We’re absolutely pleased with the results. We expected to grow it, and our first line of step-out holes did exactly that.
“There is about 50,000 metres of drilling in and around those three deposits, and we have two objectives. The first is to upgrade the inferred ounces to indicated, and the second is to grow it. I’d like to get five million ounces around those deposits in the measured and indicated categories. That would make a beautiful mine.”
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or Gabriela Sanchez
VP Investor Relations
by Ted Niles