Torex Gold's ELG Underground: A Golden Opportunity in 2024

Torex Gold Resources Inc. (TSX: TXG) has announced compelling new results from its 2024 ELG Underground drilling program, signaling a promising future for the company and its investors. The program has delivered impressive grades and ongoing potential to expand resources, replacing mined reserves and extending the mine life of the El Limón Guajes ("ELG") Underground beyond 2028.

The latest drilling results have demonstrated the long-term potential of the deposit, with notable intercepts and trends supporting the company's target of maintaining annual gold equivalent production above 450,000 ounces through 2033. The ongoing drilling success highlights the ability to upgrade Inferred Resources to Indicated Resources and expand Inferred Resources in each mineralized trend.



Torex Gold's 2024 ELG Underground drilling program has yielded impressive results across multiple trends, including El Limón Sur, El Limón Deep, El Limón West, and Sub-Sill. The El Limón Sur Trend has shown high-grade intercepts, such as LDUG-356's 94.30 gpt AuEq over 6.1m, indicating the potential for upgrading Inferred Resources to Indicated Resources. The El Limón Deep Trend has confirmed the continuity of high-grade mineralization along a southwest plunge, with intercepts like LDUG-382's 8.41 gpt AuEq over 4.6m and 18.34 gpt AuEq over 11.2m. The Sub-Sill Trend has also shown potential for resource expansion, with high-grade intercepts like SST-349's 19.17 gpt AuEq over 13.0m.



The estimated reserve replacement rates for each mineralized trend suggest a significant increase in reserves, supporting Torex Gold's strategy of maintaining high production levels. The company's target of annual gold equivalent production above 450,000 ounces through 2033 appears achievable, given the impressive results from the 2024 ELG Underground drilling program.

In conclusion, Torex Gold's recent drilling results at ELG Underground indicate strong potential for resource growth and reserve replacement. The company's ability to upgrade Inferred Resources to Indicated Resources and expand Inferred Resources in each mineralized trend suggests a promising future for the project. As the company continues to explore and develop the deposit, investors can expect ongoing growth and potential returns.