Torex Gold has restarted drilling at its Los Reyes gold-silver project in Mexico, following its acquisition of Prime Mining. The transaction was finalized in May 2026, and drilling resumed on May 26, 2026. The project is located about 45 kilometres southeast of Cosalá in Sinaloa. It sits within the Sierra Madre Occidental mineral belt, a region known for epithermal precious metals deposits.
Epithermal systems at Los Reyes occur at relatively shallow depths under low to moderate temperatures. The geology includes both low-sulfidation and intermediate-sulfidation epithermal styles. Low-sulfidation systems are associated with free-milling gold suitable for conventional cyanide processing. Intermediate-sulfidation systems can involve more complex sulfide mineralization that requires advanced metallurgical solutions.
Acquisition timing and restart of fieldwork
Torex Gold gained control of Los Reyes through the Prime Mining acquisition, which closed in May 2026. Drilling resumed just weeks after Torex became the operator, on May 26, 2026. The source indicates that such speed is unusually fast compared with typical ownership transitions that involve integration, permitting review, and contractor mobilization. The timeline is presented as consistent with technical due diligence completed before closing.
The due diligence described includes geological validation of the deposit model. It also covers assessment of permitting and regulatory conditions. Early coordination with drilling contractors and logistics providers is listed as part of the preparation process. The program restart is linked to readiness for active drilling following the acquisition.
Exploration focus on three mineralized corridors
The current drilling campaign at Los Reyes targets three primary mineralized corridors that define the deposit structure. The Guadalupe Trend is identified as the highest-priority target due to historical drilling results and resource density. Geological continuity along strike is cited as supporting potential for infill drilling and resource expansion.
The Zapote-Tahonitas Trend is described as structurally distinct and focused on lateral resource growth. Continuity at depth or along strike is noted as a factor that could expand the known mineralized footprint. The Central Trend is described as a structural bridge between the two outer trends, helping define overall geometry and continuity.
The source states that exploration has historically been concentrated within these three corridors. It also notes that large portions of the broader concession remain underexplored. This is presented as creating potential beyond the current resource model based on where mineralization may extend under local structural control.
Regulatory framework affecting exploration in Mexico
Mexico’s mining regulatory environment is described as evolving, with implications for analysis of the Los Reyes drilling program. Proposed reforms to the General Mining Law have been under discussion since 2022. The uncertainty cited relates to mining concession terms and renewals, water usage rights, and indigenous consultation alongside environmental approval processes.
The source links this uncertainty to a slowdown in exploration investment, with companies delaying spending decisions until regulatory conditions became clearer. It also states that operations in regions such as Sinaloa require balancing technical execution with regulatory compliance and community engagement. Maintaining social license to operate is described as essential, with failures potentially leading to delays, increased costs, or operational disruptions.
Torex’s operational presence via El Limón-Guajes
Torex Gold has an established operational presence in Mexico through the El Limón-Guajes mine. The source lists several advantages associated with this footprint for advancing new projects like Los Reyes. These include deep understanding of Mexico’s regulatory system and proven experience managing community relationships.
The same section also cites established local operational infrastructure and familiarity with permitting and stakeholder processes. These capabilities are described as reducing execution risk for projects advanced by Torex in Mexico.
Drilling progression through 2026
The restart of drilling at Los Reyes is presented as more than a single project update within Mexico’s gold and silver sector. The source states that companies are moving away from consolidation toward exploration-driven growth following a period dominated by M&A activity and asset consolidation. It also notes that global demand for precious metals remains strong while supply expansion is constrained.
As drilling continues through 2026, Torex’s Los Reyes project is described as serving as a test of geological potential within Mexico’s evolving mining landscape. No additional project milestones beyond the May 26, 2026 restart date are specified in the provided material.
