TOREX GOLD REPORTS RESULTS FROM THE 2021 DRILL PROGRAM AT ELG UNDERGROUND Infill Drilling Reinforces Potential to Extend Underground Mine Life Beyond Current Reserves
For Immediate Release
TOREX GOLD REPORTS RESULTS FROM THE 2021 DRILL PROGRAM
AT ELG UNDERGROUND
Infill Drilling Reinforces Potential to Extend Underground Mine Life Beyond Current Reserves
TORONTO, Ontario, December 14, 2021 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG)
announces initial results from the 202 1 drilling program at the El Limón Guajes underground mine , including
zones referred to as Sub-Sill and El Limón Deep (“ELD”) (collectively the “ELG Underground”).
Jody Kuzenko, President & CEO stated:
“A key pillar of the Torex strategy moving forward includes a fresh focus on exploration and we are pleased with
the results from the 2021 drill program at the ELG Underground. Infill drilling conducted under the first phase of
the 2021 program reinforces our positive outlook on the ability to extend the mine life of the ELG Underground
beyond current reserves and complement future production from Media Luna, which remains on track to begin
in Q1 2024.
“The 2021 ELG Underground drill program is divided into two phases. The first phase, for which final assays
are still being received , was focused on upgrading Inferred mineral resources to the Measured and Indicated
categories with a view to extending the m ine life of the ELG Underground. The second phase, which
commenced this summer, is focused on step -out drilling to grow the overall resource base. Initial results from
step-out holes targeting a previously identified area under the El Limón Sur open pit are encouraging. Further
drilling is required to better understand the geology and potential of this area, which is located approximately
300 metres southwest of Sub-Sill.
“Overall, the ELG Underground has been a key value driver for Torex as reserves have been expanded and the
mining rate has increased to well over 1,200 tonnes per day – substantially higher than the 830 tonnes per day
originally anticipated from the Sub -Sill deposit. Based on the drill results seen to date, we believe we are well
positioned to unlock further value from the ELG Underground.”
Key highlights from the 2021 ELG underground drill program are outlined in Table 1.
TABLE 1: HIGHLIGHTS FROM 2021 ELG UNDERGROUND DRILL PROGRAM
Drill-Hole Deposit
(purpose)
From
(m)
To
(m)
Core Length
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
LDUG-149 ELD (infill) 36.0 70.0 34.0 15.04 14.7 0.66
LDUG-152 ELD (infill) 40.2 62.7 22.5 21.52 12.7 0.53
LDUG-148 ELD (infill) 33.0 76.5 43.5 9.65 4.4 0.18
LDUG-164 ELD (infill) 52.0 80.9 28.9 13.53 16.2 0.86
LDUG-166 ELD (infill) 91.0 132.0 41.0 8.92 4.0 0.21
LDUG-139 ELD (infill) 133.4 158.5 25.1 9.21 19.4 0.40
LDUG-165 ELD (infill) 126.0 154.7 28.7 6.95 6.2 0.27
LDUG-126 ELD (infill) 40.5 44.0 3.5 56.25 9.4 0.18
LDUG-146 ELD (infill) 28.0 54.4 26.4 7.02 4.4 0.16
LDUG-159 ELD (infill) 29.2 47.0 17.8 10.10 1.7 0.12
LDUG-153 ELD (infill) 70.3 78.0 7.7 19.79 4.8 0.52
SST-244 Sub-Sill (infill) 275.2 300.0 24.8 5.72 1.6 0.16
SST-216 Sub-Sill (infill) 190.0 194.0 4.0 30.02 2.8 0.00
SST-232 Sub-Sill (step-out) 75.2 86.5 11.3 10.21 156.2 1.82
SST-226 Sub-Sill (infill) 328.5 336.3 7.8 10.71 10.7 0.44
Notes to Table 1:
1. Intersections do not represent true thickness of mineralized zones
2. Core lengths subject to rounding
3. Interval lengths for holes dipping between -45 to -90º have been selected to represent a minimum mining height of 3.5 m
4. Interval lengths for holes dipping between 0 and -45º have been selected to represent a minimum horizontal length of 3.5 m
5. Torex is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data
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Torex Gold Resources Inc.
2021 ELG UNDERGROUND DRILL PROGRAM
Torex is expecting to conclude a 25,000 metres (“m”) drill program at the ELG Underground in 2021 (excluding
9,000 m of definition drilling and approximately 2,000 m of drilling related to the El Limón pushback), with most
of the program focused on infill drilling (Phase 1) and the remainder on step -out drilling (Phase 2). The greater
focus on infill drilling is aimed at upgrading Inferred mineral resources to the Measured and Indicated categories,
so that a greater level of mineral resources can be included in a new mine plan for the ELG Underground. The
new mine plan will be included in an updated Technical Report scheduled for release in Q1 2022.
To date, the Company has drilled and received assay results for 69 drill holes associated with the 2021 program
representing approximately 14,200 m of drilling. Of the assay results received to date, approximately 5,800 m
(43 drill holes) have been drilled at ELD with an additional 8,400 m (26 holes) drilled at Sub-Sill. Infill drilling at
Sub-Sill has ramped up through the back half of the year. There are currently 8 rigs actively drilling off the ELG
Underground, including 3 rigs from surface and 5 rigs underground.
Assay results for the initial drill holes under the 2021 drill program are outlined in Table 2 (ELD deposit) and
Table 3 (Sub-Sill deposit).
Drilling at ELD is focused on upgrading mineral resources, primarily within the southern portion of the deposit
(Figure 3). Assay results received to date have been positive and increase our confidence in extending reserves
within ELD.
At Sub -Sill, infill drilling is targeting to upgrade mineral resources in order to further extend reserves both
vertically and laterally (Figure 4 and 5). Step-out drilling completed to date has been focused on a previously
identified area of mineralization below the El Lim ón Sur open pit , approximately 300 m southwest of Sub -Sill.
Further study is required to understand the geology and underlying potential of this area .
Exploration drilling at the ELG Underground is expected to remain a key focus for Torex as the Company looks
to test the lateral and vertical extents of both Sub-Sill and ELD. Completion of Portal # 3 in mid-2022 is expected
to support the Company’s effort s to test the vertical extent of both deposits and determine if Sub -Sill and ELD
meet up at depth. While the primary role of Portal #3 is to reduce haul distances and improve ventilation,
development of the portal will allow for the construction of drill p latforms to target deeper extensions of the
deposits more efficiently than is currently achievable from current underground and surface-based drilling.
Intersections reported in this press release are not reported as true thickness. Interval lengths for holes dipping
between 45º and -90º have been selected to represent a minimum mining height of 3.5 m. Interval lengths for
holes dipping between 0º and -45º have been selected to represent a minimum horizontal length of 3.5 m.
Currently, reported intersections from ELD and Sub-Sill also demonstrate the continuity of potentially economic
gold mineralization for at least 350 m along strike at ELD and 300 m down-dip below current development levels
at Sub-Sill; apparent widths vary from 3.5 m to 46 m.
ELG UNDERGROUND MINE
The ELG Underground consists of the higher-grade Sub-Sill and ELD deposits. At year-end 2020, the combined
Proven & Probable Reserve for the two deposits was estimated at 413,000 ounces of gold (2.03 million tonnes
at an average grade of 6.32 g/t gold). The 2020 year-end reserve update reflected a 15% year -over-year
increase in reserves (50% after accounting for depletion).
Since underground mining commenced in late -2017, the ELG Underground has prod uced approximately
196,000 ounces of gold ( 222,400 ounces mined prior to process plant recoveries at an average gold grade of
7.64 g/t) through year-end 2020. Cumulative gold mined plus year-end 2020 reserves is more than 3-fold the
initial underground gold reserves of 183,000 ounces as estimated as of December 31, 2017.
The ELG Underground is on track for another strong year of production in 2021 with 74,000 ounces of gold
produced (83,500 ounces of gold mined prior to process recoveries at 7.10 g/t gold) through the third quarter.
Annual production from the ELG Underground averaged approximately 82,000 ounces between 2019 and 2020
(92,700 ounces prior to process recoveries at an average gold grade of 7.53 g/t).
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Torex Gold Resources Inc.
ELG UNDERGROUND GEOLOGY
The ELD and Sub -Sill deposits are distinct portions of the larger El Limón Guajes mineralized skarn system.
The two deposits occur in different locations relative to a granodiorite sill prevalent in the deposit area and are
approximately 300 m apart.
The El Limón Guajes mining complex, located in the central part of the Guerrero Gold Belt in Southwest Mexico,
is hosted in the Mesozoic carbonate-rich Morelos Platform, which has been intruded by Paleocene granodiorite
stocks, sills, and dikes. Skarn-hosted gold mineralization is developed along the contacts of the intrusive rocks
and the enclosing carbonate-rich sedimentary rocks of the Cuautla and Morelos formations as well as along the
footwall contact of the Mezcala Formation.
ELD represents the down -dip extension of the skarn that hosts the gold mineralization at El Limón open pit,
where the skarn is developed immediately above a large granodiorite sill intruded along the contact of the
Cuautla and the Mezcala formations. The mineralized skarn forms a single and continuous package that strikes
approximately 25° to the north-northeast and dips between 20° and 40° to the northwest. To the northwest, the
strike of the skarn package changes to approximately 30° to the north -northwest and the dip steepens to
approximately 60°. The change in the geometry of the skarn package is interpreted to be related to the northeast
striking and southeast dipping La Flaca Fault; parallel structures are locally represented by post mineral dykes.
Mineralization in the Su b-Sill area formed along contacts between marbles of the Morelos formation and
granodiorite sills, which is interpreted as late -stage porphyritic intrusions that branch off the main body of
granodiorite. The best developed skarn zones at the Sub -Sill area strikes approximately 40° northeast and dip
between 35° and 45° to the northwest. Deep drilling has identified a steeply dipping, 65° to 75° northwest,
extension of the Sub -Sill skarn zone with high grade mineralization. This zone is currently interpreted as the
structurally controlled feeder of the mineralization that developed along the lithological contacts between the
hornfels, the marbles, and the sills. The skarn zone hosts multiple horizons with high-grade gold mineralization
that vary in strike length from 50 m up to 240 m, with apparent widths varying from 2 m to 46 m. The trend of
the overall skarn body in the Sub-Sill area is north-south to northeast-southwest.
The style of mineralization at both deposits is characterized by gold, which is strongly associated with bismuth
and variable amounts of silver and copper. Gold occurs in variably sulfidized, pyrrhotite -rich skarn, while silver
and copper mineralization is controlled primarily by the degree of sulfidation of the host skarn. Mineralization is
associated with retrograde alteration characterized by the occurrence of phlogopite, amphibole, chlorite, calcite
and lesser amounts of quartz and epidote, and local magnetite.
QA/QC AND QUALIFIED PERSON
Torex maintains an industry -standard analytical quality assurance and quality control (QA/QC) and data
verification program to monitor laboratory performance and ensure high quality assays. Results from this
program confirm reliability of the assay results. All sampling and analytical work for the mine exploration program
is performed by SGS de Mexico S.A. de C.V. (“SGS”) in Durango, and by SGS in Nuevo Balsas, Mexico. Gold
analyses comprise fire assays with atomic absorption or gravimetric finish. External check assays for QA/QC
purposes are performed at ALS Chemex de Mexico S.A. de C.V.
The analytical QA/QC program is currently overseen by Carlo Nasi, Chief Mine Geologist for Minera Media
Luna, S.A. de C.V.
The scientific and technical data contained in this news release pertaining to the ELG underground exploration
program have been reviewed and approved by John Makin, MAIG. Mr. Makin is a member of the Australian
Institute of Geos cientists (#7313), has experience relevant to the style of mineralization under consideration,
and is a Consultant Geologist employed by SLR (Canada) Consulting Ltd. Mr. Makin has verified the data
disclosed, including sampling, analytical, and test data u nderlying the drill results, and he consents to the
inclusion in this release of said data in the form and context in which they appear.
Additional information on the Sub-Sill and ELD deposits, sampling and analyses, analytical labs, and methods
used for data verification is available in the Company’s most recent annual information form and the technical
report (the “Technical Report”) entitled “Morelos Property, NI 43-101 Technical Report, ELG Mine Complex, Life
of Mine Plan and Media Luna Preliminary Ec onomic Assessment, Guerrero State, Mexico ” with an effective
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Torex Gold Resources Inc.
date of March 31, 2018 (filing date September 4, 2018) filed on SEDAR at www.sedar.com and the Company’s
website at www.torexgold.com.
ABOUT TOREX
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and
operation of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective
Guerrero Gold Belt located 180 kilometres southwest of Mexico City. The Company’s principal assets are the
El Limón Guajes mining complex (“ELG” or the “ELG Mine Complex”), comprising the El Limón, Guajes and El
Limón Sur open pits, the El Limón Guajes underground mine including zones referred to as Sub -Sill and ELD,
and the processing plant and related infrastructure, which commenced commercial production as of April 1,
2016, and the Media Luna deposit, which is an advanced stage development project, and for which the
Company issued the updated PEA in September 2018 (see the 2018 Technical Report). The property remains
75% unexplored.
FOR FURTHER INFORMATION, PLEASE CONTACT:
TOREX GOLD RESOURCES INC.
Jody Kuzenko Dan Rollins
President and CEO Vice President, Corporate Development & Investor Relations
Direct: (647) 725-9982 Direct: (647) 260-1503
[email protected] [email protected]
CAUTIONARY NOTES
FORWARD LOOKING INFORMATION
This press release contains "forward -looking statements" and "forward -looking information" within the meaning of applicable Canadian
securities legislation. Forward-looking information also includes, but is not limited to, statements that:. infill drilling conducted under the first
phase of the 2021 program reinforces our positive outlook on the ability to extend the mine life of the ELG Underground beyon d current
reserves and complement future production fro m Media Luna, which remains on track to begin in Q1 2024; the first phase of the drill
program was focused on upgrading Inferred mineral resources to the Measured and Indicated categories with a view to extending the mine
life of the ELG Underground; the s econd phase is focused on step-out drilling to grow the overall resource base; initial results from step -
out holes targeting a previously identified area under the El Limón Sur open pit are encouraging; based on the drill results seen to date,
we believe we are well positioned to unlock further value from the ELG Underground; Torex is expecting to conclude a 25,000 metres (“m”)
drill program at the ELG Underground in 2021 (excluding 9,000 m of definition drilling and approximately 2,000 m of drilling related to the
El Limón pushback), with most of the program focused on infill drilling (Phase 1) and the remainder on step -out drilling (Phase 2); the
greater focus on infill drilling is aimed at upgrading Inferred mineral resources to the Measured and Indicated categories, so that a greater
level of mineral resources can be included in a new mine plan for the ELG Underground; the new mine plan will be included in an updated
Technical Report scheduled for release in Q1 2022; exploration drilling at the ELG Underground is expected to remain a key focus for Torex
as the Company looks to test the lateral and vertical extents of both Sub -Sill and ELD; and the ELG Underground is on track for another
strong year of production in 2021. Generally, forward-looking information can be identified by the use of forward-looking terminology such
as “schedule”, “continue”, and "expects" or variations of such words and phrases or statements that certain actions, events, or results “will”,
“will result”, or “is expected to" occur. Forward-looking information is subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or achievements of the Company to be materially different f rom those
expressed or implied by such forward-looking information, including, without limitation, risks and uncertainties associated with: uncertainty
involving skarns deposits; and those risk factors identified in the Technical Report and the Company’s annual information for m and
management’s discussion and analysis or other unknown but potentially significant impacts. Forward-looking information are based on the
assumptions discussed in the Technical Report and such other reasonable assumptions, estimates, analysis, and opinions of management
made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management
believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted
to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there
may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate,
as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place
undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, whether as a
result of new information or future events or otherwise, except as may be required by applicable securities laws.
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Torex Gold Resources Inc.
TABLE 2: ASSAY RESULTS FROM 2021 ELG UNDERGROUND DRILL PROGRAM – ELD DEPOSIT
Total Intersection
Drill-Hole Program UTM-E UTM-N Elevation Azimuth Dip Length From To Core Length Au Ag Cu Lithology
(m) (m) (m) (°) (°) (m) (m) (m) (m) (g/t) (g/t) (%)
LDUG-121 Step-out 422,087.1 1,990,337.5 1,010.7 170 -73 331.5 263.3 267.0 3.7 1.19 1.1 0.06 Breccia
LDUG-122 Infill 422,114.3 1,990,459.3 1,011.8 65 -32 114.0 81.2 85.2 4.0 4.33 14.7 0.56 Skarn
LDUG-126 Infill 422,227.2 1,990,302.1 969.8 136 -15 102.0 40.5 44.0 3.5 56.25 9.4 0.18 Skarn
56.0 65.0 9.0 9.87 8.1 0.29 Skarn
LDUG-127 Infill 422,114.0 1,990,424.7 1,011.2 65 -26 111.0 101.0 104.7 3.7 1.43 50.9 1.39 Skarn
LDUG-129 Infill 422,200.9 1,990,432.1 980.6 34 -81 60.0 23.5 30.0 6.5 12.87 9.9 0.26 Skarn
LDUG-131 Infill 422,114.3 1,990,402.9 1,011.2 61 -24 117.0 112.0 115.8 3.8 1.69 23.4 0.56 Skarn
LDUG-133 Infill 422,226.8 1,990,301.8 969.3 139 -28 93.0 32.9 37.8 5.0 10.21 5.1 0.18 Skarn
72.8 77.8 5.0 3.52 19.5 0.45 Skarn
LDUG-134 Infill 422,100.0 1,990,354.7 1,011.1 63 -33 255.0 140.6 144.2 3.6 6.16 5.2 0.14 Skarn
244.0 248.0 4.0 3.10 8.8 0.13 Skarn
LDUG-135 Infill 422,114.1 1,990,402.4 1,010.4 61 -51 264.0 183.5 200.6 17.1 0.38 23.4 1.06 Skarn
LDUG-136 Infill 422,114.5 1,990,393.1 1,011.0 65 -36 150.0 115.2 121.7 6.4 8.17 21.9 0.66 Skarn/Gdi
LDUG-137 Infill 422,226.6 1,990,301.6 969.3 140 -41 63.0 35.0 40.8 5.8 4.19 3.3 0.06 Skarn
LDUG-138 Infill 422,225.7 1,990,301.4 970.0 166 -10 96.0 82.1 89.2 7.1 6.40 1.3 0.06 Skarn
LDUG-139 Infill 422,088.7 1,990,338.1 1,010.7 130 -62 201.0 133.4 158.5 25.1 9.21 19.4 0.40 Skarn
including 143.5 149.4 5.9 14.27 64.1 0.80 Skarn
& including 153.9 157.9 4.0 17.76 3.3 0.05 Skarn
LDUG-140 Infill 422,114.5 1,990,393.1 1,011.0 70 -39 171.0 107.0 110.5 3.5 5.31 0.9 0.01 Skarn
120.2 129.3 9.1 0.28 29.6 1.07 Skarn
LDUG-141 Infill 422,226.5 1,990,304.1 969.0 0 -90 45.0 18.3 21.8 3.5 2.01 4.0 0.11 Skarn
LDUG-142 Infill 422,227.4 1,990,302.8 969.9 116 -16 102.0 50.9 55.0 4.1 10.97 19.7 0.42 Skarn
61.0 74.0 13.0 7.29 38.2 2.34 Skarn
LDUG-143 Infill 422,131.5 1,990,321.9 922.1 134 -8 129.0 32.4 36.9 4.5 18.08 3.3 0.12 Skarn
53.8 59.2 5.3 5.65 2.4 0.04 Skarn
66.4 72.2 5.8 4.76 4.0 0.14 Skarn
85.0 93.5 8.5 6.00 8.2 0.42 Skarn
LDUG-145 Infill 422,227.2 1,990,302.3 969.9 127 -16 93.0 48.0 60.1 12.1 9.72 5.0 0.14 Skarn
66.0 79.7 13.7 5.14 31.9 1.11 Skarn
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Torex Gold Resources Inc.
TABLE 2: ASSAY RESULTS FROM 2021 ELG UNDERGROUND DRILL PROGRAM – ELD DEPOSIT (CONTINUED)
Total Intersection
Drill-Hole Program UTM-E UTM-N Elevation Azimuth Dip Length From To Core Length Au Ag Cu Lithology
(m) (m) (m) (°) (°) (m) (m) (m) (m) (g/t) (g/t) (%)
LDUG-146 Infill 422,131.5 1,990,322.0 921.8 134 -20 90.0 28.0 54.4 26.4 7.02 4.4 0.16 Skarn
LDUG-147 Infill 422,227.0 1,990,302.5 969.4 123 -43 63.0 47.8 55.7 7.9 9.95 22.8 0.29 Skarn
LDUG-148 Infill 422,131.5 1,990,322.0 921.6 134 -33 93.0 33.0 76.5 43.5 9.65 4.4 0.18 Skarn
including 39.4 45.0 5.7 36.75 22.2 1.07 Skarn
LDUG-149 Infill 422,131.5 1,990,321.9 921.4 135 -45 96.0 36.0 70.0 34.0 15.04 14.7 0.66 Skarn
including 46.6 52.9 6.3 46.95 12.5 0.49 Skarn
LDUG-150 Infill 422,114.0 1,990,507.0 1,012.0 62 -40 111.0 98.0 101.7 3.7 9.05 17.9 0.45 Skarn
LDUG-151 Infill 422,113.9 1,990,492.6 1,012.0 63 -33 142.0 62.8 69.4 6.6 6.18 3.9 0.26 Skarn
LDUG-152 Infill 422,131.4 1,990,322.0 920.8 133 -57 189.0 40.2 62.7 22.5 21.52 12.7 0.53 Skarn
including 40.2 47.2 7.0 31.56 13.8 0.60 Skarn
67.0 74.0 7.0 6.81 14.2 0.42 Skarn
LDUG-153 Infill 422,113.9 1,990,492.6 1,011.5 63 -49 102.0 70.3 78.0 7.7 19.79 4.8 0.52 Skarn
LDUG-155 Infill 422,160.0 1,990,259.1 929.3 115 -27 63.0 11.8 27.0 15.2 8.11 1.3 0.10 Skarn
LDUG-158 Infill 422,159.7 1,990,258.5 929.0 131 -37 60.0 13.7 17.5 3.7 2.99 1.1 0.01 Skarn
LDUG-159 Infill 422,159.4 1,990,258.7 928.4 131 -75 60.0 29.2 47.0 17.8 10.10 1.7 0.12 Skarn
including 40.5 44.8 4.3 26.25 33.7 1.04 Skarn
LDUG-160 Infill 422,159.1 1,990,257.5 928.5 157 -50 60.0 8.9 14.5 5.6 5.04 2.3 0.11 Skarn
22.5 32.0 9.6 6.77 1.9 0.08 Skarn
43.5 48.2 4.7 4.18 3.4 0.15 Skarn
54.0 60.0 6.0 4.44 1.8 0.04 Gdi
LDUG-162 Infill 422,126.6 1,990,319.2 920.7 139 -25 102.0 32.0 42.7 10.7 7.77 2.4 0.12 Skarn
53.3 62.0 8.7 5.38 0.9 0.02 Skarn
LDUG-164 Infill 422,125.0 1,990,317.3 922.3 165 -40 105.0 52.0 80.9 28.9 13.53 16.2 0.86 Skarn
including 57.8 62.0 4.2 19.23 18.6 1.04 Skarn
LDUG-165 Infill 422,128.7 1,990,319.8 920.9 170 -13 162.0 83.0 89.0 6.0 4.99 6.3 0.20 Skarn
104.0 113.8 9.8 7.02 5.1 0.28 Skarn
126.0 154.7 28.7 6.95 6.2 0.27 Skarn
LDUG-166 Infill 422,128.7 1,990,319.8 921.0 170 -20 162.0 91.0 132.0 41.0 8.92 4.0 0.21 Skarn
including 112.4 125.0 12.6 15.98 8.8 0.52 Skarn
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Torex Gold Resources Inc.
TABLE 2: ASSAY RESULTS FROM 2021 ELG UNDERGROUND DRILL PROGRAM – ELD DEPOSIT (CONTINUED)
Notes to Table 2:
1. Intersections do not represent true thickness of mineralized zones
2. Interval lengths for holes dipping between -45 to -90º have been selected to represent a minimum mining height of 3.5 m
3. Interval lengths for holes dipping between 0 and -45º have been selected to represent a minimum horizontal length of 3.5 m
4. Torex is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliabi lity of the data
5. Gdi stands for granodiorite
Total Intersection
Drill-Hole Program UTM-E UTM-N Elevation Azimuth Dip Length From To Core Length Au Ag Cu Lithology
(m) (m) (m) (°) (°) (m) (m) (m) (m) (g/t) (g/t) (%)
LDUG-168 Infill 422,128.7 1,990,319.4 921.0 170 -28 150.0 65.0 71.4 6.4 4.66 5.4 0.24 Skarn
111.2 117.6 6.4 12.90 2.3 0.26 Skarn/Gdi
LDUG-169 Infill 422,125.4 1,990,317.0 921.7 174 -17 171.0 106.0 110.0 4.0 5.70 1.8 0.07 Skarn
LDUG-171 Infill 422,125.3 1,990,317.0 921.5 177 -24 180.0 111.6 117.0 5.4 4.16 3.5 0.14 Skarn
124.0 128.0 4.0 4.20 3.7 0.33 Skarn
157.6 161.8 4.2 4.47 8.3 0.57 Skarn
LDUG-173 Infill 422,125.1 1,990,316.8 921.5 185 -20 243.0 129.6 134.1 4.5 6.62 10.9 0.69 Skarn
143.0 153.0 10.0 8.14 13.1 0.63 Skarn
159.0 165.8 6.8 9.40 5.7 0.26 Skarn
171.1 179.6 8.5 9.76 12.0 0.53 Skarn
195.0 199.9 4.9 9.06 13.1 0.41 Skarn
LDUG-176 Infill 422,125.1 1,990,316.9 921.3 185 -27 198.0 90.9 95.4 4.5 4.58 14.6 2.13 Skarn
LDUG-178 Infill 422,124.6 1,990,317.5 921.4 194 -26 150.0 91.6 97.2 5.6 0.36 0.5 0.01 Skarn
LDUG-179 Infill 422,124.8 1,990,316.9 921.0 194 -35 207.0 117.7 123.0 5.3 8.37 2.3 0.08 Skarn
LDUG-180 Infill 422,124.9 1,990,317.1 920.8 191 -43 162.0 87.0 91.7 4.7 3.49 3.7 0.18 Skarn
LDUG-181 Infill 422,125.1 1,990,317.1 921.0 185 -35 165.0 93.0 102.4 9.4 8.59 9.4 0.46 Skarn
110.9 139.0 28.1 6.03 11.5 0.65 Skarn
Including 132.7 137.0 4.3 14.97 60.7 4.08 Skarn
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Torex Gold Resources Inc.
TABLE 3: ASSAY RESULTS FROM 2021 ELG UNDERGROUND DRILL PROGRAM – SUB-SILL DEPOSIT
Notes to Table 3:
1. Intersections do not represent true thickness of mineralized zones
2. Interval lengths for holes dipping between -45 to -90º have been selected to represent a minimum mining height of 3.5 m
3. Interval lengths for holes dipping between 0 and -45º have been selected to represent a minimum horizontal length of 3.5 m
4. Torex is not aware of any drilling, sampling, recovery, or other factors that could materially affect the accuracy or reliability of the data
5. Gdi stands for granodiorite
Total Intersection
Drill-Hole Program UTM-E UTM-N Elevation Azimuth Dip Length From To Core Length Au Ag Cu Lithology
(m) (m) (m) (°) (°) (m) (m) (m) (m) (g/t) (g/t) (%)
SST-213 Infill 422,325.8 1,990,064.4 986.7 119 -70 360.0 343.9 349.4 5.5 9.54 5.1 0.14 Skarn
SST-214 Infill 422,167.0 1,990,095.5 955.0 136 -51 303.0 134.5 138.0 3.5 1.06 22.6 1.70 Skarn
SST-215 Infill 422,166.9 1,990,095.6 955.1 139 -39 282.0 177.8 183.2 5.5 3.78 0.5 0.01 Skarn
SST-216 Infill 422,166.8 1,990,095.2 955.5 137 -26 222.0 190.0 194.0 4.0 30.02 2.8 0.00 Skarn
202.0 206.0 4.0 7.21 1.0 0.00 Skarn
SST-217 Infill 422,167.0 1,990,095.7 955.1 136 -46 169.3 132.7 137.5 4.8 1.16 23.7 0.49 Skarn
SST-218 Infill 422,167.2 1,990,096.0 955.1 119 -59 336.0 280.0 284.5 4.5 6.54 2.7 0.01 Skarn
295.3 299.5 4.1 4.52 1.0 0.00 Gdi
SST-219 Infill 422,323.0 1,990,067.0 986.0 98 -72 364.0 346.7 352.5 5.8 0.16 1.4 0.07 Skarn
SST-220 Infill 422,323.0 1,990,067.0 986.0 299 -81 330.0 No skarn intercepted in the target zone
SST-221 Infill 422,366.0 1,989,980.0 1,007.0 131 -6 180.0 153.0 159.8 6.8 10.64 30.2 1.24 Skarn
SST-222 Infill 422,323.0 1,990,067.0 986.0 216 -87 464.7 258.0 265.7 7.7 4.74 4.3 0.10 Skarn
SST-223 Infill 422,366.0 1,989,980.0 1,007.0 131 -14 180.0 151.0 155.1 4.1 1.49 5.1 0.17 Skarn
SST-224 Infill 422,323.0 1,990,067.0 986.0 134 -78 312.0 293.0 297.5 4.5 1.66 3.5 0.13 Skarn
SST-225 Infill 422,366.3 1,989,980.7 1,007.4 126 -19 153.0 No skarn intercepted in the target zone
SST-226 Infill 422,323.0 1,990,067.0 986.0 112 -71 384.0 328.5 336.3 7.8 10.71 10.7 0.44 Skarn
SST-227 Step-Out 422,190.6 1,989,393.6 956.9 131 -61 150.0 No skarn intercepted in the target zone
SST-228 Step-Out 422,138.7 1,989,355.6 953.0 128 -54 207.0 163.7 167.7 4.0 1.53 5.6 0.07 Skarn
SST-229 Infill 422,323.0 1,990,067.0 986.0 118 -73 360.0 291.8 296.0 4.2 1.99 23.6 1.58 Skarn
SST-231 Step-Out 422,139.4 1,989,355.1 953.1 128 -70 305.0 188.8 194.4 5.6 4.15 38.8 2.35 Skarn
SST-232 Step-Out 422,141.4 1,989,394.5 955.0 136 -71 405.0 75.2 86.5 11.3 10.21 156.2 1.82 Skarn
105.5 112.7 7.2 7.53 19.9 0.05 Skarn
SST-233 Infill 422,325.0 1,990,067.0 986.7 111 -74 363.0 307.2 311.7 4.4 3.64 11.2 0.58 Skarn
320.9 327.0 6.1 4.83 12.2 0.74 Skarn
350.7 355.2 4.5 6.78 0.8 0.02 Skarn
SST-234 Step-Out 422,141.8 1,989,465.7 987.9 124 -57 573.0 97.5 101.8 4.3 4.18 5.9 0.17 Skarn
SST-235 Step-Out 422,086.2 1,989,397.5 944.4 150 -70 501.0 336.0 340.3 4.2 2.54 2.5 0.15 Skarn
SST-237 Step-Out 422,012.3 1,989,300.7 875.2 120 -60 435.0 29.0 34.0 5.0 0.04 0.8 0.12 Skarn
SST-238 Infill 422,332.7 1,990,014.5 1,007.5 89 -84 312.0 279.4 287.4 7.9 4.12 0.6 0.01 Skarn
SST-241 Infill 422,324.9 1,990,067.1 986.6 107 -76 396.0 294.0 303.0 9.0 4.63 2.5 0.07 Skarn
SST-244 Infill 422,330.1 1,990,018.8 1,007.8 58 -88 330.0 275.2 300.0 24.8 5.72 1.6 0.16 Skarn