Torex Sub-Sill Infill Drilling Demonstrates the Continuity of High Grade GOLD Mineralization
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 INFILL DRILLING DEMONSTRATES THE
CONTINUITY OF HIGH GRADE GOLD MINERALIZATION
TORONTO, Ontario, June 19, 2017 – Torex Gold Resources Inc. (t he “Company” or “Torex”) (TSX:TXG) is pleased to announce high
grade intercepts for the first 25 holes of its infill drilling program at the Sub-Sill deposit, associated with its El Limon-Gu ajes Mine (ELG)
in Southwest Mexico. Highlighted intercepts from this program include 39.1 g/t Au over 9.7m, including 114.1 g/t Au over 2.9m, in
borehole SST-49; 107.3 g/t Au over 3.1m in borehole SST-50; 32.1 g/t Au over 13.0m, including 68.9 g/t Au over 4.0m in borehole
SST-54; and 27.3 g/t Au over 14.8m, including 62.1 g/t Au over 4.9m in borehole SST-47.
Fred Stanford, President & CEO of Torex stated: “The purpose of this infill diamond drill program is to upgrade a million tonne s of
Inferred Sub-Sill resource to the Measured and Indicated categories, to facilitate mine planning and the determination of a mai den
mineral reserve. Of the 50 planned infill diamond drill holes, 41 have been completed to date, and assays have been received for 25
of those holes. To date, the ‘hit ratio’ has been 96%, with 24 holes intercepting high grade gold mineralization. This except ional
demonstration of the continuity of the gold mineralization has he ld true across the current resource area, including at the per iphery.
This bodes well for the mine planning efforts and indicates the potential for resource expansion with step-out drilling. The t iming is
excellent as the access ramp is now through the sill and progressed 40 meters into the less prospective endoskarn, and is less than 10
meters from intersecting the highly prospective exoskarn.” He added, - “The step-out diamond drill program is getting underway as the
infill program is completed. The step-out program comprises approximately 7,500 meters in 31 holes that test the area adjacent to the
current resource and then out to the periphery of the prospective area for Sub-Sill expansion. This drill program is expected to be
completed through the second half of the year and we look forward to sharing those results.”
Highlights from the infill drilling at the El Limon Sub-Sill
BH ID Interval (m) Interval
Length (m) Au (g/t) Ag (g/t) Cu (%) Lithology From To
SST-47 91.91 94.25 2.3 11.8 16.9 0.5 Skarn
97.89 102.05 4.2 8.2 1.5 0.0 Skarn
105.26 120.09 14.8 27.3 19.0 0.9 Skarn
Including 111.87 116.78 4.9 62.1 50.4 2.2 Skarn
133.52 135.54 2.0 21.2 10.2 0.3 Skarn
SST-49 79.63 89.32 9.7 39.1 8.2 0.1 Skarn
Including 82.93 85.78 2.9 114.4 14.6 0.1 Skarn
153.00 159.17 6.2 16.1 49.3 2.1 Skarn
SST-50 142.33 154.87 12.5 3.7 1.9 0.0 Skarn
171.88 174.97 3.1 107.3 53.5 2.1 Skarn
SST-54 54.50 62.92 8.4 13.3 48.7 3.6 Skarn
72.00 83.85 11.9 9.2 76.8 3.1 Skarn
100.40 113.40 13.0 32.1 25.7 0.4 Skarn
Including 106.40 110.40 4.0 68.9 19.4 0.5 Skarn
SST-59 105.92 117.27 11.4 23.2 7.0 0.2 Skarn
Including 105.92 108.76 2.8 43.9 7.0 0.1 Skarn
139.17 140.77 1.6 32.4 36.0 2.5 Skarn
Note:
True thickness of the mineralized zone is unknown and is reported as drill hole length
Please refer to Table 1 for a complete list and expanded description of the borehole intercepts reported in this press release. Refer to
Figure 1 for general borehole location.
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
The Company’s Sub-Sill in-fill diamond drilling program comprises a total of 50 holes (7455m). The purpose of the program, at a
17.5m x 17.5m drill pattern, is to upgrade 1,000,000 tonnes, over an area of 250m x 150m, to the Indicated category, which will support
the development of a mine plan. The positive results to date co nfirm the geological continuity of the skarn zones as well as t he
continuity and the strength of the mineralization system. The drill ing program also demonstrates the existence and continuity o f other
mantos underneath the main ore zone explored that were not included in the resource estimate due to the insufficient drilling a t 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 El Limon Sill area
occurs in the Mesozoic carbonate-rich Morelos Platform, which ha s been intruded by Paleocene granodiorite stocks, sills and dik es.
Skarn-hosted gold mineralization is developed along the contacts of the intrus ive rocks and the enclosing carbonate-rich sedime ntary
rocks. Structurally, the El Limon Sill target area as well as El Limon and El Limon Sur ore deposits are hosted in a graben bou nded by
La Flaca fault to the west and the Antena fault to the east, and both are considered to be potential feeders for the mineraliza tion. At the
El Limon Sill area, several skarn zones have been identified along the contacts of the carbonate rich sediments and marbles of the
Cuautla and Morelos formations and sills fingering out from the main granodiorite stock. High grade gold mineralization have be en
intercepted in all the different skarn horizons. Within the skarn zones individual ore shoots vary in strike length from approx imately 50
meters up to 200 meters, with apparent widths varying from 2 meters to 27 meters.
Mineralization at the El Limon Sill area is primarily gold, associ ated with variable contents 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 sulfida tion 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 El Limon 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 SGS sample preparation laboratory in Durango, Mexico. The gold analyses (fire assay with an atomi c
absorption or gravimetric finish) are completed at SGS analytical laboratory in Durango, Mexico and multi-element geochemical
analyses are Copper Sequential Leaching are completed at their analytical facilities in Vancouver, British Columbia, Canada. Ch eck
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 t hat absolute accuracy at anomalous to near cut-off grades is meas ured
and 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
verified the data disclosed, including sampling, analytical, an d 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 deposit, the mineral resource estimate for the Sub-Sill deposit and analytical labs is a vailable 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 Ma rch
of 2016 and the Media Luna Project, which is in an advanced stage of exploration, and for which the Company issued a preliminar y
economic assessment (PEA) in 2015. The property remains 75% unexplored.
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
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, info rmation with respect to the drill program for the El Limon Sub -Sill area and the results
of the drill program contained herein, including the continuity of the high grade gold mineralization, the expectation of upgrading the El Limon Sub-Sill
mineral resource, plans for mine planning, determining a miner al reserve and an additional step out drilling program, the poten tial for expanding the
Sub-Sill resource area, future exploration and development plans of the Company, completion of the ramp access to the targets as described herein,
and the potential for mining the El Limon Sub-Sill area. Generally , forward-looking information can be identified by the use o f forward-looking
terminology such as “plans”, “indicates”, “expects”, “estimates”, “intends”, “anticipates” or “believes” or variations of such words and phrases or state
that certain actions, events or results “may”, “could”, “would”, “might”, 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, witho ut limitation, the risk
associated with the variability of skarn deposits, the risk that actual results of current exploration and development activiti es 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 made in light of its experie nce and its
perception of trends, current conditions and expected developments, as well as other factors that management believes to be rel evant and
reasonable in the circumstances at the date that such statement s are made, but which may prove to be incorrect. Although the Co mpany believes
that the assumptions and expectations reflected in such forw ard-looking information are reasonable, undue reliance should not b e placed on
forward-looking information because the Company can give no assur ance that such expectations will prove to be correct. There c an be no
assurance that such information will prove to be accurate, as actual results and future events could differ materially from tho se anticipated 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 %
SST-37 Sub-Sill 422504.93 1989887.58 1160.68 90 -81 195.50 118.78 121.61 2.8 29.6 38.7 0.7 Skarn
70.62 72.70 2.1 42.5 9.5 0.1 Skarn
83.06 88.50 5.4 7.9 1.0 0.0 Skarn
96.50 101.28 4.8 8.9 2.0 0.0 Skarn
101.60 107.95 6.4 3.7 5.8 0.2 Skarn
152.50 154.40 1.9 7.5 26.0 1.0 Skarn
SST-41 Sub-Sill 422365.73 1989759.91 1136.06 90 -83 179.80 120.16 130.96 10.8 10.3 13.0 0.5 Skarn
93.07 97.65 4.6 3.9 21.4 0.4 Skarn
128.24 136.28 8.0 3.4 5.6 1.1 Skarn
172.24 176.80 4.6 7.2 26.9 0.6 Skarn
SST-44A Sub-Sill 422424.30 1989811.61 1146.56 0 -90 120.00 89.35 104.26 14.9 14.5 5.2 0.1 Skarn
94.00 104.50 10.5 8.4 2.0 0.0 Skarn
134.10 146.56 12.5 6.1 11.9 0.3 Skarn
91.91 94.25 2.3 11.8 16.9 0.5 Skarn
97.89 102.05 4.2 8.2 1.5 0.0 Skarn
105.26 120.09 14.8 27.3 19.0 0.9 Skarn
Including 111.87 116.78 4.9 62.1 50.4 2.2 Skarn
133.52 135.54 2.0 21.2 10.2 0.3 Skarn
SST-48 Sub-Sill 422398.61 1989846.46 1175.41 270 -80 189.30 116.52 119.30 2.8 39.8 4.8 0.0 Skarn
79.63 89.32 9.7 39.1 8.2 0.1 Skarn
Including 82.93 85.78 2.9 114.4 14.6 0.1 Skarn
153.00 159.17 6.2 16.1 49.3 2.1 Skarn
142.33 154.87 12.5 3.7 1.9 0.0 Skarn
171.88 174.97 3.1 107.3 53.5 2.1 Skarn
58.01 72.94 14.9 5.4 2.4 0.0 Skarn
102.90 112.80 9.9 9.1 20.1 0.6 Skarn
73.88 76.22 2.3 7.9 10.2 0.2 Skarn
97.44 114.40 17.0 10.1 6.8 0.2 Skarn
63.17 65.60 2.4 45.6 5.4 0.0 Skarn
77.06 81.87 4.8 23.4 4.5 0.1 Skarn
95.00 108.91 13.9 8.7 7.0 0.3 Skarn
54.50 62.92 8.4 13.3 48.7 3.6 Skarn
72.00 83.85 11.9 9.2 76.8 3.1 Skarn
100.40 113.40 13.0 32.1 25.7 0.4 Skarn
Including 106.40 110.40 4.0 68.9 19.4 0.5 Skarn
75.57 87.09 11.5 12.7 22.5 0.1 Skarn
Including 75.57 77.73 2.2 45.8 77.5 0.3 Skarn
64.87 69.31 4.4 20.5 54.4 3.4 Skarn
77.34 94.67 17.3 5.1 29.0 0.9 Skarn
109.66 112.88 3.2 8.1 12.7 0.3 Skarn
119.70 125.97 6.3 4.1 12.2 0.4 Skarn
147.56 154.92 7.4 7.8 10.6 0.4 Skarn
Cu Lithology
SST-38 Sub-Sill 422432.5 1989826.94 1148.29 0 -90 132.00
Dip (°)
Total
Length
(m)
Intersection Core
Length Au AgDrill-Hole Target
Area UTM-E (m) UTM-N (m) Elevation
(m)
Azimuth
(°)
-90 190.50
SST-43 Sub-Sill 422399.14 1989845.44 1175.23 90 -79 182.50
SST-39 Sub-Sill 422480.3 1989865.16 1157.00 0
-84 208.00
SST-47 Sub-Sill 422382.35 1989777.07 1138.9 0 -90 140.50
SST-45A Sub-Sill 422398.72 1989845.89 1175.25 100
-90 200.65
SST-50 Sub-Sill 422337.36 1989795.04 1183.54 90 -83 240.00
SST-49 Sub-Sill 422466.05 1989865.01 1155.42 0
-82 134.60
SST-52 Sub-Sill 422411.05 1989812.04 1145.50 0 -90 176.40
SST-51 Sub-Sill 422431.69 1989830.03 1148.25 270
-87 257.60
SST-54 Sub-Sill 422523.82 1989864.96 1159.82 0 -90 161.40
SST-53 Sub-Sill 422397.77 1989776.89 1141.22 270
-90 122.80
SST-56 Sub-Sill 422525.96 1989847.00 1153.24 0 -90 119.40
SST-55 Sub-Sill 422508.03 1989847.34 1149.43 0
-90 272.70SST-57 Sub-Sill 422478.30 1989881.86 1159.29 0
167.32 179.38 12.1 14.0 13.5 0.5 Skarn
Including 176.10 179.38 3.3 35.3 19.7 0.8 Skarn
76.68 84.00 7.3 5.4 1.1 0.0 Skarn
134.13 146.01 11.9 22.8 12.9 0.4 Skarn
Including 141.00 144.42 3.4 48.2 14.9 0.3 Skarn
105.92 117.27 11.4 23.2 7.0 0.2 Skarn
Including 105.92 108.76 2.8 43.9 7.0 0.1 Skarn
139.17 140.77 1.6 32.4 36.0 2.5 Skarn
75.00 88.50 13.5 5.0 0.7 0.0 Skarn
95.00 115.17 20.2 9.0 11.7 0.4 Skarn
Including 104.69 112.41 7.7 17.5 24.4 1.0 Skarn
SST-62 Sub-Sill 422471.05 1989846.97 1154.50 0 -90 112.80 52.17 65.00 12.8 8.9 2.8 0.1 Skarn
83.79 87.94 4.15 17.2 66.3 2.3 Skarn
94.40 104.41 10.0 18.3 19.8 0.6 Skarn
Including 96.26 99.13 2.9 53.4 34.7 1.1 Skarn
131.27 135.34 4.1 21.1 46.2 2.3 Skarn
60.23 69.66 9.4 5.4 0.7 0.0 Skarn
79.89 106.05 26.2 5.9 3.2 0.1 Skarn
Including 94.50 98.60 4.1 13.4 10.1 0.4 Skarn
SST-65 Sub-Sill 422426.03 1989882.26 1183.97 90 -88 167.00 142.24 143.33 1.1 1.1 11.0 0.4 Skarn
Notes:
True thickness of the mineralized zone is unknown and is reported as drill hole length
The gold values used to calculate the intercept compoasite are uncapped
SST-58 Sub-Sill 422432.09 1989829.78 1148.64 270 -71 160.75
-83 157.40
SST-60 Sub-Sill 422399.744 1989794.96 1142.36 270 -84 149.6
SST-59 Sub-Sill 422,411.03 1989812.01 1145.58 270
SST-64 Sub-Sill 422381.19 1989759.84 1137.64 90 -74 227.55
-90 180.7SST-63 Sub-Sill 422496.47 1989865.24 1158.79 0