Torex Gold Resources Inc. said Oct. 17 that it kicked off a US$15 million infill drill program at its Media Luna gold project in southwest Mexico.
The program consists of 175 holes, averaging 600 meters in depth, for a total of 105,000 meters of drilling, scheduled for completion by the end of 2018.
Torex aims to upgrade 25% of the current inferred Media Luna resource of 7.4 million gold equivalent ounces to the indicated category.
Following the completion of the program, a measured and indicated resource estimate will be prepared, which will form the basis for a feasibility study, expected for completion in the second half of 2019.
The company, meanwhile, expects to start construction of the Media Luna mine in early 2020, with gold production slated to begin in early 2022.