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Torex Gold Announces Maiden Mineral Reserves for ELD Underground

Mining News - Published on Mon, 24 Jun 2019

Image Source: Yahoo Finance
Torex Gold Resources Inc announced a maiden underground mineral reserve estimate and resource estimate for the El Limon Deep zone at its El Limon Guajes mining complex, located in Southwest Mexico. The estimates were prepared in accordance with National Instrument 43-101 and CIM Standards. Mr Fred Stanford President and CEO of Torex, said that "This addition of the ELD mineral reserves, while small in comparison to the open pit mineral reserves, provides a nice sweetener to the open pit production. It is also indicative of the potential to add further underground mineral resources. With ELD open in three directions, the Sub-Sill underground deposit still open at depth, and the potential for down dip extensions of Guajes, we are upbeat about the potential to further expand underground reserves and resources through multiple sources. The mineral reserves for the ELD deposit have been estimated using conventional mining techniques and costs. The intention is to mine the deposit with the Muckahi mining system. If as expected, the costs associated with Muckahi mining are lower than conventional mining costs, we may be able to lower the cut-off grade and increase the size of the mineral reserve.”

ELD Mineral Reserves and Resources

The probable mineral reserve at ELD contains 86,000 Au ounces in 487,000 tonnes at an average Au grade of 5.50 gram per tonne, with a cut-off grade of 3.70 gram per tonne.

The mineral reserve is a subset of an indicated mineral resource at ELD that contains 141,000 Au ounces in 797,000 tonnes at an average Au grade of 5.52 gram per tonne with a 2.5 gram per tonne cutoff grade.

The conversion rate of indicated mineral resources at the reserve cut-off grade to probable mineral reserves is estimated at 72% for Au ounces and 86% for tonnes.

The mineral resource is the downdip extension of mineralization in the El Limon open pit. It is located approximately 400 meters north-northwest of the Sub-Sill deposit and is open in three directions.

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Posted By : Sanju Moirangthem on Mon, 24 Jun 2019
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