By Cecilia Jamasmie
MINING.com
Mexico, the world’s main silver producer, is quickly becoming a key player in the gold market driven mainly by an exploration boom at the Guerrero Gold Belt (GGB), an emerging gold mining district in the south of the country.
Relatively high gold prices during 2012 compelled companies to start mining more aggressively in the challenging terrain of Mexico’s mountainous areas.
To date there are several gold deposits along the 55km mineral belt, including Goldcorp’s (TSX:G, NYSE:GG) Los Filos Mine; Torex Gold’s (TSX:TXG) Morelos deposit, Newstrike Capital’s Ana Paula Project, and Esperanza Resources’ Cerro Jumil deposit.
Current compliant gold resources in the area are estimated to exceed 15 million ounces and keep steadily growing.