Torex Gold Resources Inc. (TSX: TXG) has released strong third-quarter 2026 drilling and exploration results from its Morelos Property in Mexico, highlighting high-grade intercepts across multiple zones including the newly identified San Miguel corridor. The company has raised its 2026 Morelos exploration budget to a record $51 million and is operating 15 rigs across the property. The disclosure supports Torex's stated strategy of growing reserves and resources and extending mine life at its flagship asset.

Key Points

  • Torex Gold Resources Inc. (TSX: TXG / OTCQX: TORXF)
  • Q3 2026 drilling at Morelos delivers high-grade intercepts, including 11.28 gpt AuEq over 31.2 m in the San Miguel corridor and 21.30 gpt AuEq over 9.6 m at Media Luna
  • 2026 Morelos exploration budget raised to a record $51 million; 15 rigs currently operating across the property
  • Investors may be watching the year-end reserve and resource update, expected in March 2027

San Miguel Corridor Emerges as a New High-Grade Target at Media Luna

The release identifies the San Miguel corridor as a newly defined area of interest spanning from Media Luna West to southeast of the Media Luna mine. Through September 14, 15,799 m had been drilled across the corridor, representing 58% of the 27,100 m planned for 2026. Standout intercepts include 11.28 gpt AuEq over 31.2 m in drill hole MLE26-025 and 10.75 gpt AuEq over 20.2 m in MLE26-035D. The company states that the entire corridor shows potential for continuous mineralisation, and a systematic follow-up program of approximately 30,000 m is being considered for the 2027 budget.

Media Luna and Media Luna North Drilling Supports Resource Conversion and Mine Planning

At the Media Luna mine, 17,264 m had been drilled through September 14, representing 59% of the 29,300 m planned for the year. Drilling is focused on converting Inferred Resources to the Indicated category, with notable intercepts of 18.37 gpt AuEq over 18.2 m in MLUI-005 and 21.30 gpt AuEq over 9.6 m in MLUI-013. At Media Luna North, 6,854 m of drilling — 60% of the 11,500 m target — continues to confirm the geological model and de-risk stopes planned for the first year of production, with the project tracking toward first ore by year-end.

ELG Underground Results Highlight New Mineralisation Zones and Depth Extensions

At ELG Underground, 24,070 m had been drilled year-to-date through September 14, representing 67% of the 36,000 m annual target. Drilling along the Del Medio fault returned 19.93 gpt AuEq over 7.0 m in SST-484, while a previously undrilled portion of the Z71 fault yielded 14.32 gpt AuEq over 35.0 m in SST-491. Mineralisation at the Z71 fault area remains open in all directions, and the company has indicated this zone will be a focus of follow-up drilling in 2027. Regional programmes at Atzcala and El Naranjo have confirmed shallow epithermal-style mineralised systems at both targets.