NEWS Release....drilling assaysTorex Gold drills 20.1 m of 15.22 g/t Au at Morelos
Torex Gold Resources Inc (C:TXG)
Shares Issued 350,195,122
Last Close 10/7/2011 $1.28
Tuesday October 11 2011 - News Release
Mr. Fred Stanford reports
TOREX CONTINUES TO EXPAND THE STRIKE LENGTH OF THE GUAJES WEST DEPOSIT
Torex Gold Resources Inc.'s continuing drill program continues to verify the geological model of mineralization adjacent to the granodiorite intrusion at its Morelos gold project in Mexico. Step out drilling results, at its Guajes West deposit, further confirm the continuation of high grade mineralization along the intrusion to the northwest, in the direction of the Guajes East deposit. Main intercepts include 21.4 g/t Au over 3.4 m in borehole TMP-1146, 15.22 g/t over 20.1 m in borehole TMP-1213 and 3.01 g/t over 15.2 m in borehole TMP-1150. Step out drilling to the southwest of the Guajes West deposit in the direction of the Balsas River, returned intercepts that suggest for the first time a possible continuation of the deposit and that extend the known mineralized zone of the deposit by approximately 150m to the southwest.
"We are excited to see that the gap between Guajes West and Guajes East deposits is rapidly closing," said Fred Stanford, President & CEO of Torex. "In addition, we are seeing for the first time, results that suggest the possible extension of the Guajes West deposit to the southwest, in the direction of the Balsas River. This adds to the evidence that the mineralization continues along the main intrusion. We expect to continue our resource drilling program north of the Balsas River until the end of this year and look forward to meeting our internal goal of 5 million ounces of gold in the measured and indicated category by the time we announce our new resource estimate by the end of Q1/2012," he added.
Highlights for step-out drilling to the northeast of the Guajes West deposit:
---------------------------------------------------------------------------- Interval Au BH ID Area Interval (m) Length (m) (g/t) Lithology ---------------- From To ----------------------------------------------------------------------------TMP-1146 Guajes West 85.76 89.12 3.36 21.38 Skarn---------------------------------------------------------------------------- 136.10 139.10 3.00 1.80 Skarn----------------------------------------------------------------------------TMP-1147 Guajes West 135.20 151.00 15.80 1.02 Skarn, Hornfels---------------------------------------------------------------------------- With 142.72 146.95 4.23 2.49 Hornfels, Skarn----------------------------------------------------------------------------TMP-1150 Guajes West 124.28 139.50 15.22 3.01 Skarn---------------------------------------------------------------------------- With 128.78 138.00 9.22 4.22 Skarn----------------------------------------------------------------------------TPM-1198 Guajes West 101.84 138.55 36.71 1.34 Skarn---------------------------------------------------------------------------- With 114.53 137.05 22.52 1.93 Skarn---------------------------------------------------------------------------- 152.27 159.00 6.73 2.49 Skarn---------------------------------------------------------------------------- With 152.27 156.00 3.73 4.42 Skarn----------------------------------------------------------------------------TMP-1205 Guajes West 131.00 164.65 33.65 1.17 Skarn---------------------------------------------------------------------------- With 133.60 154.60 21.00 1.73 Skarn---------------------------------------------------------------------------- With 151.60 154.60 3.00 4.84 Skarn----------------------------------------------------------------------------TMP-1213 Guajes West 27.00 47.11 20.11 15.22 Skarn----------------------------------------------------------------------------
Highlights for step-out drilling to the southwest of the Guajes West deposit:
---------------------------------------------------------------------------- Interval Au BH ID Area Interval (m) Length (m) (g/t) Lithology ---------------- From To ----------------------------------------------------------------------------TMP-1156 Guajes West 67.15 70.15 3.00 0.61 Hornfels----------------------------------------------------------------------------TMP-1171 Guajes West 24.08 75.50 51.42 0.77 Hornfels---------------------------------------------------------------------------- With 27.95 51.75 23.80 1.14 Hornfels, Breccia----------------------------------------------------------------------------
Quality Assurance/Quality Control
At the Morelos Gold Project, all of the analytical work is performed by SGS de Mexico S.A. de C.V. ("SGS") in Mexico. Sample preparation is done at a dedicated sample preparation laboratory operated by SGS at the project site in Nuevo Balsas, Guerrero, Mexico. The Au analyses (fire assay with an atomic absorption or gravimetric finish) and multi-element geochemical analyses are completed by SGS at their analytical facilities in Durango, Durango, Mexico. Torex has a Quality Assurance/Quality Control ("QA/QC") program in place that includes 5% each of the Certified Reference Materials, blanks, field duplicates and preparation duplicates. The QA/QC program as designed has been approved by AMEC E&C Services, Inc. and is overseen by Alejandro Kakarieka, Vice President of Exploration for Torex.
The Company follows strict QA/QC protocol measures in keeping with industry standards and regulatory reporting requirements. Mr. Jerry E. Snider, B.Sc. Mining Engineering, MBA, Project Manager of Torex, is the Qualified Person who has reviewed this news release, and is responsible for the technical information reported herein, including verification of the data disclosed, the sampling, analytical and test data underlying the technical information.
Further information regarding the Morelos Gold Project is contained in the Technical Report effective October 6, 2009 and entitled "Gleichen Resources Ltd., Morelos Gold Project, Guerrero, Mexico, NI 43-101 Technical Report".