ENP Newswire -
Release date- 16052014 -
Our current exploration effort has shifted to the evaluation of the Media Luna resource, and field surveys to identify additional drill targets similar to those that host ore deposits on the property. At the end of
FIRST QUARTER 2014 REPORT HIGHLIGHTS
Advancement of the
Zero lost time accidents on the project in 497,001 hours worked in the first quarter;
No significant scope changes were approved on the project in this quarter;
Detailed engineering progress exceeded 67% for all areas at the end of the quarter and is substantially completed for the East Service road, permanent camp, and the new village of El Potrerillo. Detailed engineering progress to the end of April is 73%;
Guajes pit mining is on schedule and ore stockpiling has begun;
Mine haulage road development for Guajes East and Guajes West is on schedule;
El Limon access road development is on schedule;
Rope conveyor installation earthworks began ahead of schedule;
Site work progresses with clearing and grubbing, top soil removal, rough grading, blasting and excavation;
Permanent camp construction continues with work on the structural excavations, rebar installation and concrete placement. The first concrete pour for the permanent camp was done on
East Service road work continued during the quarter. The entire 24-kilometre length of the road is now permitted;
Construction of the new village El Potrerillo has begun. Construction permit approval was received on
Continued evaluation of the
During the quarter, initial wide-spaced reconnaissance drilling was completed in some of the anomalies in the
Engineering assessment to determine access and mining options continued.
Exploring the Morelos Gold Property
Infill drilling work was undertaken in the El Limon Sur area adjacent to the planned El Limon pit;
Target generation work is underway on several targets within the Morelos Gold Property.
A complete set of the Company's unaudited interim consolidated Financial Statements and related Notes for the three months ended
Torex is a growth-oriented, Canadian-based resource company engaged in the exploration and development of precious metal resources with a focus on gold. It owns 100% of the Morelos Gold Property, which is located 180 kilometers southwest of
President and CEO
Tel: (647) 260-1502
Tel: (647) 260-1503
CAUTIONARY NOTE REGARDING FORWARD LOOKING STATEMENTS
This 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, information with respect to future exploration and development plans concerning the Morelos Gold Property, including future mining operations, the expected timing and cost of development activities and expected drilling results and the timing within which the Company expects to receive drilling results.
Generally, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', '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 based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made, and is based on, without limitation, the results of the Company's feasibility study and other technical studies on the El Limon and Guajes project and drilling results.
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 the risk factors disclosed in the Company's annual information from under the heading 'Risk Factors', and elsewhere in the Company's public disclosure.
Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding the Company's financial and operating performance and the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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