Torex Sub-Sill Growth Potential Confirmed BY Step-Out Drilling
Corporate Office: 130 King St. West, Suite 1502, Toronto, ON M5X 2A2, Canada – Tel. (647) 260 1500 Fax (416) 304-4000
www.torexgold.com
TOREX SUB-SILL GROWTH POTENTIAL CONFIRMED BY STEP-OUT DRILLING
TORONTO, Ontario, September 19, 2017 – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce
high grade intercepts in the step-out drilling in the quadrant to the northwest of the current Sub-Sill resource area, associat ed with its El
Limon-Guajes Mine (ELG) in Southwest Mexico. Highlighted intercepts from this step-out program include 41.4 g/t Au over 19.3m in a
40-meter step-out to the north, in borehole SST-71. To the northwest, in a 130-meter step-out, borehole SST-91 intercepted 35.9m of
5.7 g/t Au , including 3.5m of 32.2 g/t Au, and another 3.5m of 14.1 g/t Au . In a more westerly direction, in a 240-meter step-out,
borehole SST-88 intercepted 11.6 g/t Au over 3.6 meters. The Company also announced results of an additional 15 holes of the in-fill
program that will contribute to the next resource estimate, including 32.2 g/t Au over 29.3m in borehole SST-72.
Fred Stanford, President & CEO of Torex stated: “The current Sub-Sill resource estimate area is approximately 250m x 150m. The high
grade results from the step-out drilling in the quadrant to the NW of the resource area, including a 240m step-out borehole, ce rtainly
confirm the potential for additional resources in this direction. Step-out drilling near the resource in the NE quadrant inter cepted
granodiorite in the target area. Longer range step-out drilling is planned to determine whether the intrusive rocks continue in this direction,
or if skarn exists on the ‘other side’ of a localized intrusion. To the SW, several boreholes have been drilled and we are wai ting for
assays. To the SE, we will wait until after the rainy season to drill in this area.” He added – “These are exciting times for the Sub-Sill
program, we look forward to the upcoming update to the resource and the subsequent mine plan to convert those resources to reserves.
Both are expected before year end 2017. In the meantime, step-out drilling will continue, as will underground mining activitie s to install
infrastructure and extract mineral for processing.”
Highlights from the step-out drilling at the Sub-Sill
BH ID Interval (m) Interval
Length (m) Au (g/t) Ag (g/t) Cu (%) Lithology From To
SST-71 287.90 307.20 19.3 41.4 43.4 2.1 Skarn
Including 291.07 296.66 5.6 69.8 56.8 1.7 Skarn
SST-91 420.18 456.06 35.9 5.7 1.2 0.0 Skarn
Including 433.59 437.09 3.5 32.2 3.7 0.0 Skarn
Including 452.56 456.06 3.5 14.1 3.5 0.0 Skarn
SST-67 171.30 176.15 4.8 8.5 20.3 1.2 Skarn
299.46 305.51 6.1 15.7 1.7 0.0 Skarn
SST-88 236.00 239.60 3.6 2.9 3.8 0.2 Skarn
319.04 322.64 3.6 2.6 6.6 0.2 Skarn
416.29 419.89 3.6 11.6 0.5 0.0 Skarn
Note:
True thickness of the mineralized zone is unknown and is reported as drill hole length.
Interval lengths have been selected to represent a minimum mining height of 3.5 meters.
Highlights from the in-fill drilling at the Sub-Sill
BH ID Interval (m) Interval
Length (m) Au (g/t) Ag (g/t) Cu (%) Lithology From To
SST-72 43.47 47.07 3.6 9.0 2.6 0.0 Skarn
84.51 113.80 29.3 32.2 33.1 1.6 Skarn
Including 84.51 90.44 5.9 103.5 62.4 3.9 Skarn
117.63 121.87 4.2 15.4 16.2 0.6 Skarn
SST-61 186.34 191.64 5.3 52.9 15.1 0.5 Skarn
Including 188.17 191.64 3.5 77.3 22.5 0.7 Skarn
Torex Gold Resources Inc. Page 2
Corporate Office: 130 King St. West, Suite 740, Toronto, ON M5X 2A2, Canada – Tel. (647) 260 1500 Fax (416) 304-4000
www.torexgold.com
SST-69 30.94 35.78 4.8 4.9 7.0 0.3 Skarn
51.93 61.64 9.7 16.5 31.3 3.3 Skarn
Including 54.75 58.63 3.9 31.4 44.7 5.0 Skarn
SST-42 53.38 60.00 6.6 8.5 2.5 0.0 Skarn
83.50 108.00 24.5 10.7 5.8 0.2 Skarn
Including 102.00 108.00 6.0 18.1 9.9 0.4 Skarn
N o t e :
True thickness of the mineralized zone is unknown and is reported as drill hole length.
Interval lengths have been selected to represent a minimum mining height of 3.5 meters.
Please refer to Tables 1 and 2 for complete lists and expanded description of the borehole intercepts reported in this press release. Refer
to Figure 1 and 2 for general borehole location. Refer to Figures 3-5 for cross sections.
The Company’s Sub-Sill in-fill diamond drilling program comprises a total of 47 holes (7,295m). The purpose of the program, at a 17.5m
x 17.5m drill pattern, is to upgrade 1,000,000 tonnes, over an ar ea of 250m x 150m, to the Indicated category, which will suppo rt the
development of a mine plan. The positive results to date confirm the geological continuity of the skarn zones as well as the c ontinuity
and the strength of the mineralization system. The results to-date of the drilling program also demonstrates the existence and continuity
of other mantos underneath the main resource zone, that were not included in the resource estimate due to the insufficient drilling at the
time.
The Sub-Sill area is located between the El Limon and El Limon Sur ore deposits and under the El Limon Sill. The Sub-Sill area occurs
in the Mesozoic carbonate-rich Morelos Pla tform, which has been intruded by Paleocene granodiorite stocks, sills and dikes. Ska rn-
hosted gold mineralization is developed alo ng the contacts of the intrusive rocks and the enclosing carbonat e-rich sedimentary rocks.
Structurally, the Sub-Sill target area as well as El Limon and El Limon Sur ore deposits are hosted in a graben bounded by La Flaca fault
to the west and the Antena fault to the east, and both are cons idered to be potential feeders for the mineralization. At the Su b-Sill area,
several skarn zones have been identified along the contacts of the carbonate rich sediments and marbles of the Cuautla and More los
formations and sills fingering out from granodiorite stocks. High grade gold mineralization has been intercepted in all the different skarn
horizons. Within the skarn zones individual shoots of mineralization vary in strike length from approximately 50 meters up to 200 meters,
with apparent thickness varying from 2 meters to 36 meters.
Mineralization of the Sub-Sill area is primarily gold, with variable amounts of silver and copper. Gold occurs in low and high sulfidized
pyrrhotite rich skarns, while silver and copper mineralization is primarily determined by the degree of sulfidation of the host skarn.
Mineralization is strongly associated with a late stage retrograde alteration characterized by amphiboles, chlorite, calcite ± quartz ±
epidote, affecting pyroxene-garnet marble related exoskarn and granodiorite porphyry related endoskarn. Locally mineralization occurs
in narrow lenses of massive sulfides.
QA/QC and Qualified Person
At the Morelos Gold Project, all of the Sub-Sill target analytical work is performed by SGS de Mexico S.A. de C.V. ("SGS") in Durango,
Mexico and at SGS Mineral Services in Vancouver, British Columbia, Canada and ALS Chemex de Mexico S.A. de C.V.
Sample preparation is done at the SGS sample preparation laboratory in Durango, Mexico. The gold analysis (fire assay with an atomic
absorption or gravimetric finish) is completed at the SGS analytic al laboratory in Durango, Mexico and multi-element geochemica l
analysis and Copper Sequential Leaching is completed at their analytical facilities in Vancouver, British Columbia, Canada. Check assays
samples are analyzed at ALS Chemex Vancouver, BC, Canada. SGS and ALS Chemex, are independent of the Company.
The Company has a Quality Assurance/Quality Control (“QA/QC”) program in place that includes 5% of each of the certified refere nce
materials, blanks and field duplicates. 10% of pulp samples are analyzed at a second laboratory as part of the QA/QC program to ensure
the batch to batch relative bias remains constant and that absol ute accuracy at anomalous to near cut-off grades is measured an d
acceptable. The QA/QC program as designed, has been approved by Bureau Veritas and is currently overseen by Carlo Nasi, Chief Mine
Geologist for the Morelos Gold Project.
The scientific and technical data contained in this news release pertaining to the Morelos Project has been reviewed and approv ed by
Mr. Mark P. Hertel as a Qualified Person under NI 43-101. Mr. Hertel is a Registered Member of the Society for Mining, Metallurgy &
Exploration, has experience relevant to the style of mineralization under consideration and is an independent consultant. Mr. Hertel has
Torex Gold Resources Inc. Page 3
Corporate Office: 130 King St. West, Suite 740, Toronto, ON M5X 2A2, Canada – Tel. (647) 260 1500 Fax (416) 304-4000
www.torexgold.com
verified the data disclosed, including sampling, analytical, and test data underlying the drill results and he consents to the inclusion in this
release of said data in the form and context in which it appears.
Additional information on the El Limon-Guajes deposit, the mineral resource estimate for the Sub-Sill deposit and analytical la bs is
available in the Company’s most recent annual information form filed on SEDAR at www.sedar.com and the Company’s website at
www.torexgold.com.
Torex is an emerging intermediate gold producer based in Canada , engaged in the exploration, development and operation of its 1 00%
owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest
of Mexico City. Within this property, Torex has the El Limón Guajes Mine, which announced commercial production in March of 2016 and
the Media Luna Project, which is in an advanced stage of explor ation, and for which the Company issued a preliminary economic
assessment (PEA) in 2015. The property remains 75% unexplored.
For further information, please contact:
TOREX GOLD RESOURCES INC.
Fred Stanford Gabriela Sanchez
President and CEO Vice President Investor Relations
Tel. (647) 260-1502 Tel. (647) 260-1503
Email: [email protected] E m a i l : [email protected]
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This press release contains “forward-looking statements” and “for ward-looking information” within the meaning of applicable Can adian securities
legislation. Notwithstanding the Company’s efforts, there c an be no guarantee that the Company will not face unforeseen delays or disruptions.
Forward-looking information includes, but is not limited to, information with respect to the drill program for the Sub-Sill area and the results of the drill
program contained herein, including the continuity of the hi gh grade gold mineralization and potential for additional mineral r esources in the area to
the Northwest of Sub-Sill resource, the assessment of the geological continuity of the skarn zones, the continuity and the strength of the mineralization
system and the existence and continuity of other mantos underneath the main resource zone, the expectation of upgrading the Sub-Sill miner al
resource, plans for mine planning, determining a mineral rese rve and completing additional step-out drilling to the Southeast a nd longer range step-
out drilling to the Northeast of the Sub-Sill resource, the potential for expanding the Sub-Sill resource area, future exploration and development plans
of the Company and the potential for mining the Sub-Sill area. Generally, forward-looking information can be identified by the use of forward-looking
terminology such as “plans”, “indicates”, “expects”, “estimates”, “intends”, “anticipates”, “believes”, “upcoming”, or “subsequent” or variations of such
words and phrases or state that certain actions, events or resu lts “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur”, or “be
achieved”. 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 from those expressed or implied by such forward-looking information,
including, without limitation, the risk associated with the variability of skarn deposits, the risk that actual results of current exploration and development
activities will not achieve expectations and other risk factors identified in the Company’s annual information form and management’s discussion and
analysis. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management ma de in light of its
experience and its perception of trends, current conditions and expec ted developments, as well as other factors that management believes to be
relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. Although the Company
believes that the assumptions and expectations reflected in such forward-looking information are reasonable, undue reliance should not be placed on
forward-looking information because the Company can give no assurance that such expectations will prove to be correct. There can be no assurance
that such information will prove to be accurate, as actual re sults and future events could differ materially from those anticip ated in such information.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
From To
(m) (m) (m) g/t g/t %
171.30 176.15 4.8 8.5 20.3 1.2 Skarn
299.46 305.51 6.1 15.7 1.7 0.0 Skarn
287.90 307.20 19.3 41.4 43.4 2.1 Skarn
Including 291.07 296.66 5.6 69.8 56.8 1.7 Skarn
SST-78 Sub-Sill 422517.73 1989933.43 1183.80 0 -90 140.40 GDI - FB
SST-79 Sub-Sill 422397.92 1989899.92 1196.41 270 -80 342.80 313.40 316.93 3.5 1.6 22.4 1.4 Skarn
SST-80 Sub Sill 422448.00 1989934.88 1191.02 0 -90 363.10 GDI
SST-85 Sub-Sill 422287.53 1989758.67 1168.94 0 -90 367.00 294.40 297.90 3.5 0.8 15.3 0.9 Skarn
SST-86 Sub-Sill 422274.67 1989845.80 1225.16 0 -90 321.60 177.90 181.40 3.5 3.0 0.8 0.0 Skarn
SST-87 Sub-Sill 422619.91 1989864.95 1166.28 90 -60 228.00 GDI - FB
236.00 239.60 3.6 2.9 3.8 0.2 Skarn
319.04 322.64 3.6 2.6 6.6 0.2 Skarn
416.29 419.89 3.6 11.6 0.5 0.0 Skarn
528.59 534.92 6.3 5.8 0.7 0.0 Skarn
including 531.00 534.60 3.6 8.7 0.7 0.0 Skarn
420.18 456.06 35.9 5.7 1.2 0.0 Skarn
including 433.59 437.09 3.5 32.2 3.7 0.0 Skarn
including 452.56 456.06 3.5 14.1 3.5 0.0 Skarn
Note
The gold values used to calculate the intercept composite are uncapped
Interval lengths have been selected to represent a minimum mining height of 3.5 meters
270 -85 371.70SST-67 Sub-Sill 422343.80 1989899.65 1231.61
No Intercepts. Granodiorite (GDI) and Porphyry (FP) intercepted in target zone
No Intercepts. Granodiorite (GDI) and Porphyry (FP) intercepted in target zone
-74 618.50
SST-91 Sub Sill 422286.92 1989970.22 1285.10 0 -90 605.40
SST-89 Sub Sill 422272.91 1989892.98 1245.28 270
No Intercepts. Granodiorite (GDI) intercepted in target zone
SST-88 Sub Sill 422102.167 1989787.231 1090.985 359 -74 445.00
-90 331.20SST-71 Sub-Sill 422398.00 1989900.00 1196.00 0
Ag Cu
LithologyDip (°)
Total
Length
(m)
Intersection
Core Length
AuAzimuth
(°)Drill-Hole Target Area UTM-E (m) UTM-N (m) Elevation
(m)
From To
(m) (m) (m) g/t g/t %
95.66 105.00 9.3 7.4 1.7 0.0 Skarn
114.00 117.50 3.5 18.9 2.2 0.0 Skarn
167.63 173.77 6.1 9.7 26.3 1.0 Skarn
53.38 60.00 6.6 8.5 2.5 0.0 Skarn
83.50 108.00 24.5 10.7 5.8 0.2 Skarn
Including 102.00 108.00 6.0 18.1 9.9 0.4 Skarn
36.00 40.13 4.1 5.2 21.2 1.1 Skarn
60.56 76.00 15.4 7.7 50.3 4.4 Skarn
186.34 191.64 5.3 52.9 15.1 0.5 Skarn
Including 188.17 191.64 3.5 77.3 22.5 0.7 Skarn
17.00 20.50 3.5 7.9 3.5 0.1 Skarn
175.17 178.67 3.5 14.2 39.7 1.5 Skarn
185.50 189.74 4.2 6.2 22.2 0.5 Skarn
33.00 48.86 15.9 9.4 8.3 0.6 Skarn
Including 43.54 47.04 3.5 15.6 13.7 1.0 Skarn
30.94 35.78 4.8 4.9 7.0 0.3 Skarn
51.93 61.64 9.7 16.5 31.3 3.3 Skarn
Including 54.75 58.63 3.9 31.4 44.7 5.0 Skarn
59.32 62.85 3.5 3.0 94.2 9.8 Skarn
103.00 106.50 3.5 8.0 2.6 0.1 Skarn
132.93 136.44 3.5 7.6 27.0 0.7 Skarn
43.47 47.07 3.6 9.0 2.6 0.0 Skarn
84.51 113.80 29.3 32.2 33.1 1.6 Skarn
Including 84.51 90.44 5.9 103.5 62.4 3.9 Skarn
117.63 121.87 4.2 15.4 16.2 0.6 Skarn
SST-73 Sub-Sill 422466.07 1989900.14 1174.64 0 -90 300.00 226.24 229.74 3.5 2.3 2.2 0.1 Skarn
90.35 96.76 6.4 17.2 5.9 0.1 Skarn
Including 93.26 96.76 3.5 25.9 9.0 0.1 Skarn
114.37 118.36 4.0 16.4 11.6 0.7 Skarn
SST-75 Sub-Sill 422398.00 1989900.00 1196.00 90 -83 332.70 71.34 75.78 4.4 3.6 2.7 0.0 Skarn
52.84 56.69 3.8 4.6 1.2 0.0 Skarn
65.02 69.45 4.4 5.8 1.1 0.0 Skarn
89.27 102.75 13.5 8.3 15.0 0.6 Skarn
SST-77 Sub-Sill 422460.01 1989812.07 1134.35 0 -90 150.30 30.00 36.33 6.3 7.3 1.2 0.0 Skarn
SST-81 Sub Sill 422618.57 1989795.27 1154.59 90 -58 234.7 FBHQ
Note
The gold values used to calculate the intercept composite are uncapped
Interval lengths have been selected to represent a minimum mining height of 3.5 meters
No Intercepts (post mineral dyke FBHQ intercepted in target zone)
-83 138.65
SST-76 Sub-Sill 422414.92 1989795.04 1144.20 90 -64 179.15
SST-74 Sub-Sill 422428.49 1989812.70 1146.98 90
SST-72 Sub-Sill 422449.48 1989829.98 1150.69 90 -78 146.95
-90 120.00
SST-70 Sub-Sill 422477.70 1989811.85 1134.69 0 -90 141.00
SST-69 Sub-Sill 422496.28 1989811.93 1133.39 0
-90 316.00
SST-68 Sub-Sill 422514.21 1989811.87 1135.04 0 -90 105.00
SST-66 Sub-Sill 422501.30 1989900.46 1161.12 0
SST-61 Sub-Sill 422353.85 1989824.03 1191.49 0 -90 271.50
SST-46 Sub-Sill 422503.20 1989829.81 1143.73 0
SST-42 Sub-Sill 422398.63 1989776.99 1140.82 90 -78 170.00
-90 109.05
Ag Cu
Lithology
SST-40 Sub-Sill 422400.62 1989846.67 1175.16 0 -90
Dip (°)
Total
Length
(m)
Intersection
Core Length
Au
Drill-Hole Target Area UTM-E (m) UTM-N (m) Elevation
(m)
Azimuth
(°)
190.30
Figure 1
Figure 2
Figure 3