Torex Gold Could Extend Mine Life at ELG Underground Project

Canada-based gold company Torex Gold reported significant results from its 2023 drilling program at the El Limon Guajes (ELG) underground project, suggesting the potential to extend the mine life beyond 2027.

In the El Limon Sur Trend, drill hole LS-295 returned 29.88g/t AuEq over 9.6m, confirming high-grade mineralization along the southern extension. Follow-up drilling at the 400m level encountered 5.53g/t AuEq over 3.7m, indicating potential for resource expansion. "The investment in our 2023 drilling program at ELG Underground continued to build on the positive results achieved year on year to grow the overall mineral prosperity at ELG and unlock the significant cash generation potential of the Morelos asset. Drilling was successful in identifying a new zone of mineralization where the La Flaca fault intersects the El Limon Sur Trend near existing underground infrastructure,” said Jody Kuzenko, President and CEO, Torex Gold.

The El Limon Deep Trend saw infill drilling returning high-grade intercepts, including 26.93g/t AuEq over 3.6m and 14.75g/t AuEq over 37.1m, suggesting potential upgrades from inferred to indicated resources.

Drilling in the Sub-Sill Trend north of the La Flaca fault confirmed high-grade mineralization, with one hole returning 9.65g/t AuEq over 12.3m, enhancing its economic potential due to proximity to existing infrastructure.

Follow-up drilling in the El Limón West Trend confirmed mineralization continuity to the south, with drill hole LS-290 returning 13.73g/t AuEq over 4m, supporting the potential for a new mining front. "The 2023 drilling program has reinforced our confidence in the ability to continue to grow resources and extend the reserve life of ELG Underground, all with a goal of filling the mill with higher-grade feed and maintaining annual gold equivalent production of over 450,000oz beyond 2027,” Kuzenko added.