Torex Gold: Record Production
of +100,000 Gold Ounces
for the Third Quarter of 2018
Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) reported record production in the third quarter of 2018 of 101,400 gold ounces, and revenues of US$126.3 million, from its ELG Mine Complex in Southwest Mexico.
Fred Stanford, President and CEO of Torex stated: “Our teams have worked very well together to achieve a number of common goals in the quarter. Safety performance has been strong. Record gold production speaks for itself. Mining output rates have ramped up to meet and exceed the increasing plant throughput rates. The SART plant is ramping up well and is now removing approximately 80% of the soluble copper in the process water, with associated reagent use savings. Sub-Sill production is approximately 500 t/d and on track to complete the ramp up to 850 t/d by year end. (Q4/18 will be a busy one for Sub-Sill infrastructure.) The diamond drills are active on Sub-Sill, ELD, and Media Luna, results are expected to be available in Q4/18. The updated technical report was completed. Our Muckahi technology was introduced to the industry, and excavations are underway for the proof of concept test site in ELD, where testing will start in Q1/19. In summary, it has been another productive quarter, with the teams integrating all aspects of business performance very well. The upper end of gold production guidance is within reach and we all look forward to continuing the trend of accelerating performance.”
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development and operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The Company’s principal assets are the El Limón Guajes mining complex (the “ELG Mine Complex”), comprised of the El Limón, Guajes and El Limón Sur open pits, the El Limón Guajes underground mine including zones referred to as Sub-Sill and El Limón Deep (“ELD”), and the processing plant and related infrastructure, which is in the commercial production stage as of April 1, 2016, and the Media Luna deposit, which is an early stage development project, and for which the Company issued an updated preliminary economic assessment in September 2018. The property remains 75% unexplored.
For further information on Torex Gold Resources contact Gabriella Sanchez, Vice President Investor Relations at (647) 260-1503 or visit www.torexgold.com.
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