Torex Gold Announces Plans to Resume Full Operations at El Limón Guajes Complex
May 14 2020 - 06:00AM
Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG)
announces that following the designation of mining as an essential
activity by the Government of Mexico, Torex plans to resume full
production at its El Limón Guajes mining complex by the end of this
month. Enhanced health protection protocols will remain in place.
At risk employees and others that can work from home will continue
to so.
Fred Stanford, President & CEO of Torex,
stated:
“We have continued our active engagement with
local communities during the national suspension of non-essential
businesses. The members of these communities have encouraged
us to restart operations as quickly as possible. With the
Government lifting the suspension decree for mining as of May 18th,
mobilization for a full restart of operations will begin
immediately. The processing plant will continue to treat low grade
stockpile material for the remainder of May. By that time, the
crews will have ramped up the mining operations, and the plant will
begin processing regular mine grade material. June is expected to
be a routine production month. We are glad to be back.”
About Torex Gold Resources
Inc.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 early stage
development project, and for which the Company issued an updated
preliminary economic assessment in September 2018. The property
remains 75% unexplored.
For further information, please contact:
TOREX GOLD RESOURCES INC. |
Fred Stanford President and CEO Direct: (647) 260-1502 Email:
fred.stanford@torexgold.com |
Dan Rollins Vice President, Corporate Development & Investor
Relations Direct: (647) 260-1503 Email:
dan.rollins@torexgold.com |
CAUTIONARY NOTES
Forward Looking StatementsThis
press release contains "forward-looking statements" and
"forward-looking information" within the meaning of applicable
Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements that the Company plans
to resume full production at its El Limón Guajes (“ELG”) mining
complex by the end of May 2020, enhanced health protection
protocols will remain in place, at risk employees and others that
can work from home will continue to so, with the Government lifting
the suspension decree for mining as of May 18, 2020, mobilization
for a full restart of operations will begin immediately, the
processing plant will continue to treat low grade stockpile
material for the remainder of May 2020, by the end of May 2020, the
crews will have ramped up the mining operations, the plant will
begin processing regular mine grade material, and June 2020 is
expected to be a routine production month. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects", "believes",
“future”, or variations of such words and phrases or state that
certain actions, events or results “can”, "may", "could", "would",
"might", "be achieved", “appears” or “focus on”. 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
continued support of the communities of the ramp up and full
operations and the travel of employees, contractors and products
through their communities to the ELG complex, the inability
of the Company’s mining and exploration operations to operate as
intended due to shortage of skilled employees, shortages in supply
chains, inability of employees to access sufficient healthcare,
significant social upheavals, government or regulatory actions or
inactions, decreased demand or the inability to sell precious
metals or declines in the price of precious metals, capital market
volatility, or other unknown but potentially significant
impacts. Notwithstanding the Company's efforts, there can be
no guarantee that the Company does not have employees who have the
COVID-19 infection or that the Company’s measures to protect
employees and surrounding communities from COVID-19 during this
period will be effective. 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. For a discussion of risks and other factors that
might impact forward-looking information, see the Company’s most
recent Annual Information Form filed on SEDAR at
www.sedar.com. 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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