Torex Gold Resources reports breakthrough of Guajes Tunnel

Torex Gold Resources announced the breakthrough of the Guajes Tunnel was completed last night. Breakthrough of the Guajes Tunnel represents a key de-risking milestone in the development of the Media Luna Project as the tunnel unifies the Morelos Complex by connecting the existing operations on the north side of the Balsas River with the growing resource base of the Media Luna Cluster on the south side. Jody Kuzenko, President and CEO of Torex, stated: “Breakthrough of the Guajes Tunnel is a critical milestone in the development of the Media Luna Project, which remains on track for first concentrate production in late 2024. The Guajes Tunnel will be the primary conduit for transporting ore and waste from the Media Luna deposit on the south side of the Balsas River to the processing plant on the north side and will materially improve efficiencies associated with the movement of employees, contractors, equipment, services, and supplies between both locations. Breakthrough of the Guajes Tunnel was achieved three months earlier than scheduled in the March 2022 Technical Report, primarily driven by the world-class advance rates achieved by our team. Rates north to south have averaged 7.1 metres per day since the start of the year, including a record average advance rate of 8.0 metres per day in November. The advance rates are truly impressive considering the dimensions of the tunnel are 6.5 metres high by 6.0 metres wide and that secondary development and installation of services have kept pace with overall tunnel progress. We expect to commence anchor bolting for the seven-kilometre overhead conveyor in early 2024, which will pave the way for the installation and then commissioning of the conveyor in August 2024 well ahead of completing the necessary upgrades to the processing plant.”