Torex Gold discovers new high-grade gold zones at Media Luna West in Mexico

Torex Gold has defined new high-grade gold zones at Media Luna West, near its Media Luna mine in Mexico, supporting a potential new mining front at the Morelos complex.

Torex Gold Resources (TSX: TXG; US-OTC: TORXF) has reported new drill results near its Media Luna underground mine in Mexico, confirming high-grade gold zones west of the main deposit in the area known as Media Luna West.

In results released after market close, the company highlighted:

• Hole ML25-1088D, which cut 11 metres grading 11.7 grams gold per tonne, 10.3 grams silver and 0.26% copper from 647 metres downhole.
• Hole ML25-1095D, which intersected 12.9 metres grading 17.25 grams gold, 8.7 grams silver and 0.27% copper from about 704 metres depth.

Analysts say these near-mine intercepts support a maiden inferred resource at year-end and point to opportunities to backfill and extend the Morelos complex’s production profile as drilling continues into 2026.

Media Luna West: building a new mining front for Morelos

Located about 180 km southwest of Mexico City, in the Guerrero gold belt, Media Luna is part of Torex’s 290 sq. km Morelos complex. The complex also includes:

• The ELG open-pit and underground mines
• The development-stage EPO underground deposit
• A processing plant and associated infrastructure

Commercial production at Media Luna began in the spring, and Torex is now working to compile a first inferred resource estimate for Media Luna West, with the goal of establishing a new mining front to feed the Morelos processing facilities. The resource is expected to be released in March.

The latest update covers all drilling completed during 2025 plus one previously unreported hole from last year, for a total of 24 drill holes comprising 11,303 metres. The work has outlined a 400 x 300-metre mineralized footprint adjacent to the main Media Luna deposit. The system remains open to the north and to the south.

Drill highlights: thickness and grade support resource growth

Beyond the headline high-grade intercepts, Torex reported several other notable results.

Hole ML25-1080A returned:

• Almost 50 metres grading 2.47 g/t gold, 0.9 g/t silver and 0.01% copper from 652 metres,
  including
• 20 metres grading 7.24 g/t gold, 6.2 g/t silver and 0.02% copper from 724 metres downhole.

Another drill hole, ML25-1083D, intersected:

• 7.3 metres grading 1.31 g/t gold, 9.2 g/t silver and 0.52% copper from 770 metres depth.

Together, the results highlight a combination of high-grade lenses and thicker mineralized intervals, giving Torex multiple options for future mine design and sequencing at Media Luna West.

Next steps: expanding the footprint and upgrading resources

Looking ahead, Torex plans to focus drilling on:

• Expanding the mineralized footprint along the north–south corridor
• Testing extensions towards the San Miguel fault
• Upgrading resources from the inferred to the indicated category, to support future mine planning

“These latest results build on the drilling success we have had within the Media Luna cluster and reinforce the quality of the mineralization we see on the south side of the property,” said president and CEO Jody Kuzenko. “We believe Media Luna West could be a potential new mining front should the area be evaluated as economically viable, which becomes more likely now that we can leverage the infrastructure constructed at Media Luna.”

Market reaction

Despite the strong drill results, Torex shares slipped 1.9% to $63.06 on Tuesday morning in Toronto, giving the company a market value of about $6.1 billion. Over the past 12 months, the stock has traded between $26.26 and $69.27, reflecting both the volatility in the gold sector and growing investor interest in Torex’s high-grade gold and copper exposure in Mexico.