Torex Gold Resources poured the first gold-silver doré bars at its El Limón-Guajes open-pit gold-silver project in Guerrero state, Mexico, in late December. Contained metal totaled about 350 ounces (oz) of gold and 350 oz of silver. The project will continue to ramp up throughout 2016.

Beginning in 2017, production is scheduled to average 369,000 oz/y of gold and 214,000 oz/y of silver over a period of nine years.

The El Limón-Guajes project is based on two independent open pits. The pits will feed a centrally located cyanide leach/carbon-in-pulp processing plant, with dry stack tailings deposited just to the west of the plant.

The processing plant has designed throughput capacity of 14,000 mt/d. Life-of-mine all-in sustaining costs are estimated at $637/oz of gold. Capital cost to complete the project is coming in at about $800 million.

Proven and probable reserves for the El Limón-Guajes deposits, including stockpiles, currently total 47.9 million mt at grades of 2.69 g/mt gold and 4.36 g/mt silver. Contained metal is estimated at 4.15 million oz of gold and 6.72 million oz of silver. Mill gold recovery is estimated at 87.1% and mill silver recovery is estimated at 32.5%.

The El Limón-Guajes project is located on Torex Gold’s 29,000-ha Morelos property approximately 200 km southwest of Mexico City.

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