Torex Gold Resources Inc is a Canadian mid-tier gold production company involved in mining, production, development, and exploration of precious metals such as gold, copper, and silver.
Headquartered in Toronto, the company owns El Limón Guajes Mine Complex through Morelos Gold Property in Mexico.
Morelos Gold Property represents 29,000 hectares within the Guerrero Gold Belt, located in the southwest region of Mexico City. The company has 100 per cent ownership interest in the facility.
The ELG mine complex comprises of:
• El Limón, Guajes and El Limón Sur: three open pit mines
• ELG Underground Mine, El Limón Deep and sub-sill zones
• Processing Plant and interrelated infrastructure
The company claims its processing facility is expected to achieve a steady rate of production of 13,000 tons per day, including 1000-1200 tpd to be sourced from the ELG Underground Mine.
The mining complex commenced its commercial production in 2016.
In 2020, the ELG complex production reportedly delivered 430,480 ounces of gold.
In 2021, the company claims to invest US$13 million for exploration at ELG and US$2.5 million for regional exploration.
In addition to the ELG Mine Complex, Torex Gold Resources also has a significant interest in the Media Luna Project. It is a development-stage project located seven kilometers from ELG. The company aims to expand its mining operations in Guerrero Gold Belt.
The Media Luna deposit is an underground gold-copper-silver deposit on the Balsas River's south bank.
The company claims an initial capital infusion of US$496 million was estimated for modification of the ELG processing plant to produce gold, copper and silver concentrates.
The company aims to achieve an average annual production of 3,50,000 ounces of gold over ten years term.
Torex Gold is currently undertaking a feasibility study expected to be completed in the first quarter of 2022, with production commencing in the first quarter of 2024, it claims.
Since 2018, Torex Gold initiated an infill diamond drill program at Media Luna deposits to upgrade inferred mineral resources.
In addition, Torex Gold Resources is also focused on Muckahi Mining System at ELG underground mine. The company claims that the Muckahi mine will be an all-electric mine powered by grid equipment or battery power. The company also aims to bring down carbon emissions by up to 95 per cent.