(All amounts expressed in U.S. dollars unless otherwise stated)Toronto, Ontario--(Newsfile Corp. - September 4, 2024) - Torex Gold Resources Inc. (the 'Company' or 'Torex') (TSX: TXG) reports an updated
Toronto, Ontario-- - Torex Gold Resources Inc. reports an updated life-of-mine plan for the Morelos Complex which incorporates the EPO underground deposit following completion of an internal pre-feasibility study on the deposit. The Company will be hosting an Analyst & Investor Day tomorrow morning at 10:00 AM ET to discuss the results of the study along with an update on the wider business, including the Company's multi-year exploration strategy.
Annual payable production under the reserve scenario is expected to average 473 koz AuEq through 2030 before declining as the proportion of lower-grade stockpiles processed increases. Supporting annual production rates above 450 koz AuEq beyond 2030 will require displacing lower-grade stockpiles by delineating additional reserves from ELG Underground, EPO, Media Luna, and/or other potential sources within the Media Luna Cluster.
Figure 2: Annual production at least 450 koz AuEq could be maintained through 2033 should Inferred Resources at EPO and ELG Underground be upgraded to mineral reserves https://images.newsfilecorp.com/files/1863/222100_980122f9d43c4b75_002full.
Underground mining costs at EPO are expected to average approximately $51 per tonne mined over the life of the mine, with unit costs during initial years expected to be elevated given higher levels of lateral development during 2027 and 2028.
Processing costs for the Morelos Complex are forecast to average approximately $37 per tonne of ore over the life of the operation. Processing costs are based on an average Mexican peso of 20.0 per U.S. dollar.
Figure 4: Focus of future drilling will be on upgrading Inferred Resources located near planned infrastructure and development at EPO in order to upgrade and convert to mineral reserveshttps://images.newsfilecorp.com/files/1863/222100_980122f9d43c4b75_004full.jpg EPO is located to the east of the major Cuajiote fault, within a structural block characterized by multiple second-order structures. These structures are recognized at surface and in drill core, and exhibit north-south, north-northeast, and subordinate northwest orientations. The north-south oriented Copalillo and Todos Santos faults control the main alteration - mineralization event.
The Analyst & Investor Day will be held tomorrow at 10:00 AM ET. Those who wish to participate in the event virtually can register for the webcast via the following link: https://vantagevenues.zoom.us/webinar/register/WN_ieoX0VNwRuq3rqe98Ahjjg#/registration
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