Regulus Resources Inc. ("Regulus" or the
"Company", REG TSX.V) is pleased to announce that
it has mobilized an additional two drill rigs, for a total of four,
at its AntaKori copper-gold project located in Cajamarca, Peru. The
additional drill rigs will allow the Company to advance its ~25,000
m Phase 2 drill program and continue to expand the mineralization
footprint at AntaKori. The current four holes in progress are
AK-19-033A, 34, 35 and 36. Hole AK-19-033 was lost at 340.70 m and
had to be restarted (now AK-19-033A). Hole AK-19-34, designed to
test a high-magnetic geophysical target to the north, is over 1,400
m deep and is progressing well. Hole AK-19-035 has just begun and
is designed to also test the high-magnetic geophysical target to
the north. Hole AK-19-036 has also commenced and is designed to
both infill a gap in the current resource model and extend
mineralization on the eastern portion of the claim block.
Approval for permits to explore the northern
portion of the AntaKori claim block is ongoing and expected to be
received in Q4 of this year. Once these permits are received, the
Company will have the ability to extend drilling to the north to
more directly test several promising geophysical targets.
Additionally, the Company is pleased to announce
it has promoted Joe Fernandez to the position of Vice President,
Project Development. Mr. Fernandez has held operating and
management positions at Pinto Valley, the Ray Mine, Johnson Camp,
Tintaya, and San Manuel Mine over a 35-year career. Mr. Fernandez
has been with Regulus since 2016 in the role of Manager, Project
Development. Prior to that, he served with the Company’s senior
management team in Antares as the Vice President, Project
Development of the Haquira project in Peru where he was responsible
for the completion of the PEA. Mr. Fernandez will be tasked with
overseeing the project development and future engineering and
metallurgical study-work at AntaKori.
John Black, Chief Executive Officer of
Regulus, commented as follows: “We’re very excited to
be increasing the number of drill rigs from two to four as we
continue to implement our 25,000 m Phase 2 drill program at
AntaKori. The added drill rigs will allow us to systematically test
the exciting geophysical targets to the north and continue to
infill drill where appropriate. Additionally, it will increase our
news flow over the next five to six months as we will have more
results to report. We are very happy to promote Joe to the role of
Vice President, Project Development. Joe’s background in operations
and project development will be very helpful as we continue to
advance the AntaKori project.”
The Company also announces results of the recent
drill program at the Golden Brew project located in Lander County,
Nevada, USA. The Company completed 3 holes for a total of 2,280 m
to test potential for a covered Carlin style system. The most
encouraging result from the drill program was from drill hole
GBR-19-10. Hole 10 intersected Carlin-type mineralization within
decalcified thin-bedded silty limestones from 701 m to 724 m that
had anomalous gold and arsenic, up to 163 ppb gold and 475 ppm
arsenic. The Company has the right to earn a 50% interest in the
project from Highway 50 Gold Corp. by spending US$5,000,000 on
exploration expenditures by May 2022 and assuming underlying
third-party lease payments and claim holding costs. The Company
will review these results to determine the best path forward for
the Golden Brew project. For more information on the drilling, see
Table 1.
Table 1 – Golden Brew Drill Hole Location
Information |
|
UTM Coordinates |
Elevation |
Orientation |
Total Depth |
Hole Name |
E (m) |
N (m) |
metres |
azimuth |
inclination |
metres |
GBR 19-10 |
479485 |
4341863 |
2,036 |
|
-90 |
762 |
GBR 19-11 |
479956 |
4342033 |
2,060 |
|
-90 |
762 |
GBR 19-12 |
479485 |
4341863 |
2,051 |
90 |
-60 |
765 |
|
|
|
|
|
|
|
Qualified Person
The scientific and technical data contained in
this news release pertaining to the AntaKori project has been
reviewed and approved by Dr. Kevin B. Heather, Chief Geological
Officer, who serves as the qualified person (QP) under the
definitions of National Instrument 43-101.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
For Further Information, please
contact:
Regulus Resources Inc.
John E. Black CEO / DirectorPhone:
+1 303 618-7797
mobile
+1 720 514-9036 officeEmail: john.black@regulusresources.com
Adam Greening Vice President, Corporate
DevelopmentPhone:+1 647 923 7799Email:
adam.greening@regulusresources.com
Laura BrangwinManager, Investor RelationsPhone:
+447517313833 Email: laura.brangwin@regulusresources.com
About Regulus Resources Inc. and the
AntaKori Project
Regulus Resources Inc. is an international
mineral exploration company run by an experienced technical and
management team, with a portfolio of precious and base metal
exploration properties located in North and South America. The
principal project held by Regulus is the AntaKori
copper-gold-silver project in northern Peru. The AntaKori
project currently hosts a resource with indicated mineral resources
of 250 million tonnes with a grade of 0.48 % Cu, 0.29 g/t Au and
7.5 g/t Ag and inferred mineral resources of 267 million tonnes
with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag (see press
release dated March 1, 2019). Mineralization remains open in most
directions and drilling is currently underway to confirm and
increase the size of the resource.
For further information on Regulus Resources
Inc., please consult our website at www.regulusresources.com.
QA/QC
Regulus follows systematic and rigorous sampling
and analytical protocols which meet and exceed industry
standards. These protocols are summarized below and are
available on the Regulus website at www.regulusresources.com.
All drill holes completed at the Golden Brew
project were reverse circulation holes. Drill cuttings were
collected at the drill site and placed into pre-labelled bags,
sealed with a plastic zip tie, and identified with a unique sample
number. The bagged samples are then stored in a secure area pending
shipment to a certified laboratory sample preparation facility.
Samples are sent by batch to the Bureau Veritas – Inspectorate
laboratory in Sparks, Nevada for assay. Certified control
standards, blanks, and duplicates are inserted into the sample
stream to monitor data quality. At the laboratory samples are
dried, crushed, and pulverized and then analyzed using a fire assay
– ICP-ES finish analysis for gold and a full four-acid digestion
with ICP-ES analysis for other elements.
Forward Looking Information
Certain statements regarding Regulus, including
management's assessment of future plans and operations, may
constitute forward-looking statements under applicable securities
laws and necessarily involve known and unknown risks and
uncertainties, most of which are beyond Regulus' control.
Often, but not always, forward-looking statements or information
can be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate" or "believes" or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be
achieved.
Specifically, and without limitation, all
statements included in this press release that address activities,
events or developments that Regulus expects or anticipates will or
may occur in the future, including the proposed exploration
and development of the AntaKori project described herein, the
completion of the anticipated drilling program at AntaKori, the
completion of an updated NI 43-101 resource estimate for
AntaKori, statements regarding the proposed plans for the
exploration of the Golden Brew property, and management's
assessment of future plans and operations and statements with
respect to the completion of the anticipated exploration and
development programs, may constitute forward-looking statements
under applicable securities laws and necessarily involve known and
unknown risks and uncertainties, most of which are beyond Regulus'
control. These risks may cause actual financial and operating
results, performance, levels of activity and achievements to differ
materially from those expressed in, or implied by, such
forward-looking statements. Although Regulus believes that
the expectations represented in such forward-looking statements are
reasonable, there can be no assurance that such expectations will
prove to be correct. The forward looking statements contained in
this press release are made as of the date hereof and Regulus does
not undertake any obligation to publicly update or revise any
forward-looking statements or information, whether as a result of
new information, future events or otherwise, unless so required by
applicable securities law.
Regulus Resources (TSXV:REG)
Historical Stock Chart
From Jul 2024 to Jul 2024
Regulus Resources (TSXV:REG)
Historical Stock Chart
From Jul 2023 to Jul 2024