Shares of Torex Gold Resources (TSX: TXG) jumped 3.1% by midday Friday following the latest drill results from its El Limón Guajes (ELG) underground mine in Mexico, where it is conducting a 27,000-metre drill program.
ELG underground is part of the El Limón Guajes mine complex that also includes three open pits and a processing plant. The mine complex, which began commercial production in 2016, is hosted within Torex’s 100% owned Morelos property located 180 km southwest of Mexico City.
Also within this 290-sq.-km property is the Media Luna deposit, an advanced-stage development project located 7 km from ELG. The current drill program is targeting resource upgrades and extensions at the Sub-Sill and El Limón Deep (ELD) deposits.
At ELD, infill drilling cut high-grade mineralization 110 metres below the current reserve envelope, which Torex believes bodes well for reserve replacement and ongoing reserve growth. Key intercepts include 16.96 grams gold per tonne over 17.5 metres; 16.87 grams gold over 9.7 metres; 10.39 grams gold over 11.7 metres; and 13.49 grams gold over 5.5 metres.
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