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Torex Gold Resources Inc
(TORXF)
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Torex Gold Resources Inc incorporated on November 13, is a Canadian-based resource company engaged in the exploration and development of its wholly-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-Guajes Project, currently under development, and the Media Luna Project, at an advanced stage of exploration. El Limon-Guajes Projectis located north of the Balsas River, constitutes one of the richest open pit gold deposits at a resource grade of 2.79 g/t. The Media Luna Project is located south of the Balsas River and is comprised of three main magnetic anomalies covering an area of approximately 630 hectares. It was discovered in March of 2012 and, after an aggressive 18-month drilling program, the maiden inferred resource was completed in September of 2013. The deposit has current inferred resources of 5.8 million gold equivalent ounces at a grade of 4.55 g/t. The Company's mineral property and equipment is substantially located in Mexico. The Company operates one segment, being exploration and development of mineral properties in Mexico.