Torex Gold Resources Inc. announced today that step-out drilling on the El Limon deposit at the Company’s Morelos Gold Project in Mexico has intersected high grade gold mineralization outside the known resource area and extended the deposit some 250 m to the east and 50 m to the west (e.g. T10-047C – 13.5 g/t Au over 7.5 m including 32.6 g/t Au over 3.0 m, T10-065C – 2.1 g/t Au over 19.5 m including 4.0 g/t over 9.5 m and T10-066C – 1.6 g/t Au over 36.8 m including 4.2 g/t over 7.1 m).
The ongoing detailed drill program at the El Limon deposit, which is open in several directions, will continue to mid 2011 and is designed to grow the resource and add significant new ounces with step out boreholes and to upgrade the known resource with in fill boreholes. Fred Stanford, President and CEO of Torex stated “We are aggressively drilling at our Morelos property and plan to complete 100,000 m by mid 2011. We currently have 9 drill rigs operating on site and expect to have 11 drill rigs running early in the new year. We are conducting step out and infill drilling on our known deposits; the El Limon, Los Guajes West and Los Guajes East deposits and are drilling to test the possibility of some of the known deposits connecting near surface and at depth. The initial drill results are very encouraging with several high grade gold intercepts over mineable widths being intersected outside the known resource boundaries.
The early drill results have already allowed us to extend the El Limon deposit at least 250 m to the east and 50 m to the west.” Mr. Stanford added, “Our aggressive 2010/2011 drill program is designed to significantly increase the number of ounces in the known deposits and has the potential to add some one million ounces to the resources and the potential to bring the total resources on the property to about five million ounces. In addition, we are also aggressively exploring to discover new gold deposits outside our known deposits and to further test the positive results we previously announced in the Los Mangos area and south of the Balsas River.” The mineralization encountered up to 250 m to the east of the existing El Limon resource indicates that the skarn alteration and gold mineralization continues up-dip a significant distance to the east.
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