In a report raising their target for Torex Gold Resources Inc., analysts at Dundee Securities stated that exploration at the Morelos Project in the Guerrero Gold Belt will be the value driver.
“We believe there is no shortage of attractive targets to test at Morelos, including the strike and depth extensions of the known deposits along with multiple early stage prospects that have seen only limited work to this point.”
Torex’s Morelos Project, together with Goldcorp’s 300,000 ounces per year Los Filos deposit, from part of the Guerrero Gold Belt, host to over 15 million NI43-101 ounces of gold in all categories.
Newstrike Capital holds the largest and most strategic mineral claims in the Guerrero Gold Belt, covering over 88,000 hectares.
Newstrike has recently commenced its drilling program at the Ana Paula. The scope of the drill program provides for a minimum 5,000 meters within a mineralized area previously drill tested by Goldcorp in 2005. This initial drill program is the first step in testing the 2km by 1km wide area that remains open along a northeasterly strike and at depth.