Torex Gold Resources Inc. [TXG-TSX; TORXF-OTC] has released an updated technical report, including a life-of-mine plan for its producing El Limon Guajes open pits and Sub-sill underground mines in Guerrero State, Mexico.
The report, which was released after the close of trading on September 4, 2018, envisages a 22% increase in the average production to 430,000 ounces through to 2023. Torex reacted Wednesday September 5 by falling 2.28% or 20 cents to $8.58.
El Limon Guajes is located on the Morelos property, a group of seven mineral claims, which hosts four deposits, El Limon (including El Limon Sur), Sub-Sill, Guajes, and Media Luna. Each has a resource estimate prepared in according with NI 43-101 standards of disclosure.
The Morelos property is a 29,000-hectare mineral claim, approximately 200 km southwest of Mexico City. The property is in the Guerrero Gold Belt. The entire mineral claim is considered to have significant exploration potential.
The El Limon-Guajes Mine (ELG), located north of the Balsas River, includes three open pits and an underground mine. While operating the ELG Mine complex, Torex is carrying out work on the Media Luna deposit to support the development of this mineral resource.
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