Torex Gold produces 112,440 ounces of gold in Q1 2022, Mexico

Torex Gold Resources Inc. [TXG-TSX; TORXF-OTC] reported Q1 2022 gold production was 112,440 ounces; gold sold was 108,010 ounces. The differential between production and sales during the quarter reflects the timing of the last gold pour at the end of March and subsequent sale in early April.

Average plant throughput was 12,600 tonnes/day. Average underground ore mined was 1,260 tonnes/day. Average open pit ore mined was 11,780 tonnes/day.

Jody Kuzenko, President and CEO, stated: “We had a solid start to the year with Q1 gold production of 112,440 ounces, slightly ahead of budget given higher than anticipated processed grades. The operational performance was equally matched by excellent safety performance, with the Company exiting March with no lost time injuries and achieving more than 8 million hours worked without a lost time injury.

“Recoveries during the quarter were modestly impacted by lower recovery ore in the Guajes open pit, similar to levels encountered during the previous quarter. Recoveries are forecast to improve through the remainder of the year as the proportion of higher recovery ore is expected to increase as mining transitions to different areas of the Guajes open pit.

“With a solid start to the year, and the expectation that production will further increase in the back half of 2022, we are well on track to deliver full year production guidance of 430,000 to 470,000 ounces of gold.”

Torex is an intermediate gold producer engaged in the exploration, development, and operation of its 100%-owned Morelos property, an area of 29,000 hectares in the prospective Guerrero Gold Belt located 180 km southwest of Mexico City, Mexico.

The company’s principal asset is the Morelos Complex, which includes the El Limon Guajes (ELG) Mining Complex, Media Luna Project, processing plant and related infrastructure. Commercial production from the Morelos Complex commenced on April 1, 2016.