| Announcement Date: | 2022-02-28 |
|---|---|
| Announcement Type: | Deposit Estimation |
| Announcement Code: | NI43-101 |
| Company name: | Torex Gold Resources Inc. |
| Project name: | Media Luna |
| Location: | Mexico |
| Commodities: | Gold,Silver,Copper |
| Highlight: | Updated Resource Estimate for Project |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | TORONTO, Ontario, February 28, 2022 – Torex Gold Resources Inc. (the “Company”) (TSX: TXG) announces an updated Mineral Resource estimate for the Media Luna project, which now consists of a gold equivalent1 (“AuEq”) Indicated Resource of 4.39 million ounces (“Moz”) at an average grade of 5.38 grams per tonne (“g/t”). This reflects a 24% increase in contained AuEq metal in the Indicated Resource category compared to the April 30, 20212 resource estimate of 3.54 Moz AuEq at a grade of 5.27 g/t. Of the current Indicated Resource, 60% of the gold equivalent estimate is attributable to gold (“Au”), 33% to copper (“Cu”) and the remainder to silver (“Ag”). The updated Inferred Resource is estimated at 0.78 Moz AuEq at an average grade of 4.05 g/t AuEq. The resource estimate for Media Luna excludes EPO, a nearby deposit which hosted an Inferred Resource of 1.02 Moz AuEq at a grade of 3.97 g/t as of April 30, 20213 . Jody Kuzenko, President and CEO of Torex Gold, stated: “In line with our strategy to continue to invest in growing our reserves and resources, we had another successful infill drill program at Media Luna in 2021, resulting |
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