Torex Gold Resources Inc. [TSX-TXG] reported results from the 2023 exploration drilling program at Media Luna West, Mexico. The drilling results support the company’s strategy to further prove up the potential of the Media Luna Cluster and unlock additional near-mine opportunities in order to enhance the future production profile of the Morelos complex and extend the reserve life beyond 2033.
Jody Kuzenko, president and CEO, stated: “We are highly encouraged by the results of our 2023 exploration drilling program at Media Luna West, which continue to enhance our confidence in the mineralized potential of the ever-expanding Media Luna cluster. While exploration at Media Luna West is still at an early stage relative to the nearby Media Luna and EPO deposits, the latest results, when combined with historical results and a new structural model, highlight the potential for Media Luna West to become a future source of feed for the Morelos complex. Follow-up drilling at Media Luna West is planned for 2024 as we advance this zone to the next exploration stage.”
Media Luna West is an earlier stage exploration target located in close proximity to the Media Luna and EPO deposits as well as existing and planned infrastructure associated with the Media Luna project, including the Guajes Tunnel.
Several holes drilled as part of the 2023 program returned mineralized intercepts including ML23-986A which returned an impressive 29.76 g/t gold equivalent (g/t AuEq) over an interval of 14.10 metres, including 27.50 g/t gold, 27.9 g/t silver and 1.20% copper (Cu).
This hole was drilled approximately 200 metres north of historic drill hole MLW-02 (which returned intercepts of 4.11 g/t AuEq over 37.30 metres and 10.41 g/t AuEq over 9.05 metres, and 50 metres west of historic drill hole MLW-04 that returned an intercept of 7.26 g/t AuEq over 20.32 metres.
A total of seven holes (excluding three mother holes) and 9,722 metres were drilled as part of the 2023 exploration drilling program at Media Luna West. The purpose of the program was to provide continuity to historical drilling carried out at Media Luna West based on the structural architecture and orebody knowledge acquired from the comprehensive drilling at the nearby EPO deposit since 2022.
Assay results from all seven drill holes have been received. Two of the drill holes (ML23-965 and ML23-970A) intersected mineralization peripheral to the main feeder of the system where high-grade gold and copper mineralization was encountered (ML23-986A).
The current distribution of the multiple intercepts confirms a north-south extension of more than 600 metres with a width similar to the EPO deposit, which suggests Media Luna West could have a similar mineralized potential to that of EPO. The exploration potential of this structural corridor is open to the north and is likely favoured by intersecting with the swarm of east-west dikes that define the best mineralization trap within both the nearby Media Luna and EPO deposits.
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100%-owned Morelos property, an area of 29,000 hectares in the highly prospective Guerrero gold belt located 180 km southwest of Mexico City. The company’s principal asset is the Morelos complex, which includes El Limon Guajes mine complex, the Media Luna project, a processing plant and related infrastructure.
Commercial production from the Morelos complex commenced on April 1, 2016, and an updated technical report for the Morelos complex was released in March, 2022. Torex’s key strategic objectives are to optimize and extend production from the ELG mine complex, derisk and advance Media Luna to commercial production, build on environmental, social and governance excellence, and to expand through continuing exploration across the entire Morelos property.