Torex Gold Resources Inc. (TSX:TXG)(TSX:TXG.WT.A) is pleased to announce that permit conditions to start construction have been satisfied and site construction has begun at its Morelos Gold Property in Mexico.
Fred Stanford, President & CEO of Torex stated: “Contractors are being mobilized, with November 1, 2013, slated as the official start date of the 21-month build out of our first mine / mill complex.” He added, “Our collective teams have accomplished a great deal to get us to this point, and all have been waiting for this moment when they can begin turning intentions into reality. That reality is going to be a few more grey hairs and a mine that takes its place amongst the largest and lowest cost gold mines in the world. A mine that we intend to operate in a fashion that will allow all of our stakeholders to be proud of their contribution to making it happen.”
Progress on the project has continued with detailed engineering 43% complete. Procurement and contracting commitments are also advancing. Work has progressed at site within the previously permitted areas with the completion of the dozer trails to access the Guajes Pit, the building of the construction camp, and the assembly of equipment. In addition, water well drilling for the new village of El Potrerillo has started.
Torex is a growth-oriented, Canadian-based resource company engaged in the exploration and development 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. Within this property, Torex has two projects: the El Limon and Guajes Project, currently under development, and the Media Luna Project, at an advanced stage of exploration. Torex intends to identify a pipeline of future economic deposits within its property, which remains 75% unexplored.
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