The Guerrero gold belt (GGB) has grown to one of Mexico’s biggest yellow metal mining zones following less than 30 years of exploration – and it probably holds at least 10Moz yet to be found, David Jones, a geologist and renowned GGB expert, tells BNamericas.
The belt, a roughly 80km strip of mineralization, has established Guerrero as one of Mexico’s top four gold producing states, rivaling Chihuahua and only trailing Sonora and Zacatecas – all of which have far longer mining histories.
“You have still got production at [Equinox Gold’s] Los Filos, and Torex [Gold] is in full production [at El Limón-Guajes or ELG],” says Jones, who discovered Los Filos in 1995 and served as chief technical adviser in the formation of Torex. Aside from Newmont’s Peñasquito mine – Mexico’s biggest gold producer in Zacatecas state – there are few if any assets in the country that can match combined output from the GGB’s two principal operations, according to Jones.
Torex is forecasting 430,000-470,000oz gold at ELG this year, making the company Mexico’s third biggest gold producer, while Equinox has lowered guidance for Los Filos by around 50,000oz to 120,000-140,000oz, following a blockade, which has been resolved.
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