TORONTO, ONTARIO–(Marketwired – Jan. 9, 2017) – Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX:TXG) is pleased to announce that 279,937 ounces of gold were poured and 275,613 ounces of gold were sold in 2016, the first year of operations at its El Limon-Guajes Mine located in southwest Mexico.
Fred Stanford, President & CEO of Torex stated: “A goal of 275,000 ounces sold, during the first year of operations, was always an ambitious target. In achieving that target, the team did an excellent job of managing the complexities of the ramp up, on budget, with no environmental spills, and with well managed safety systems. Mother Nature also threw in a few challenges with 67% more rain than normal and soluble copper in the ore-body. The team dealt with those challenges as well, and a hearty Thank You goes out to all.” He added, “Looking forward, 2017 promises to be another transitional year for the company. El Limon pit is ramping up nicely and will contribute a much larger share to the mining production. The team will finish the heavy lifting on de-bottlenecking the tailings filtration plant, and to deal with the soluble copper, a SART plant is scheduled to be built and commissioned by year end. While these final stages of the ramp up are being completed, growth initiatives will be advancing as well. The access ramp into the recently discovered ‘Under the Sill’ zone is scheduled for completion by mid-year, and initial tonnes from this zone are expected in the processing plant before year end. Media Luna is also expected to achieve a major milestone with the commencement, in the latter half of the year, of an underground exploration tunnel to access the deposit. These are exciting times and we thank all of our shareholders and stakeholders who have supported us and made so many of the contributions that have helped the company develop into the profitable and responsible intermediate producer that it has become.”