Regulus Announces Receipt of Anta Norte Drill Permit and Now Has Ability to Test Priority Targets to the North
November 26 2019 - 3:01PM
Regulus Resources Inc. ("Regulus" or the
"Company", REG TSX.V) is pleased to announce the
receipt of the Declaración de Impacto Ambiental permit
("DIA") which allows up to 40 drill pads for the Anta Norte
portion of its AntaKori copper-gold project in Cajamarca, Peru.
Gaining access to these new drill pads for the northern portion of
the project (Anta Norte) offers an opportunity to properly test the
various geophysical anomalies (Figure 1) which the Company believes
may represent mineralization related to a porphyry centre (the
magnetic low) surrounded by an annular ring of magnetite-bearing
skarns (the magnetic highs). To date, the Company has not been able
to adequately test the geophysical anomalies and has been drilling
along the southern edges of the targets from currently permitted
drill pads. If one or more of the geophysical anomalies prove to be
mineralized as the Company believes, it would represent a material
change for the scale and scope of the project. With the DIA in
hand, the Company can now apply for the Authorization to Initiate
Exploration Activities (“AIEA”) which will be required to begin
drilling. Receiving the AIEA is an administrative procedure and
should take no more than 45 days, once submitted. The Company
anticipates it will mobilize to newly permitted drill setups
covered by the DIA towards the end of Q1 2020. This will allow us
to complete planned drill holes from current setups, apply for and
receive the AIEA, and avoid mobilizing during the rainy season.
John Black, Chief Executive Officer of
Regulus, commented as follows: “Receiving the DIA is
a significant milestone for Regulus. The geophysical anomalies to
the north represent considerable upside for the AntaKori project
and to date we haven’t been able to test them directly due to lack
of access. The drill pads we have been using to date have allowed
us to drill very long holes, all with significant intercepts of
mineralization, along the southern edges of both the magnetic-low
and magnetic-high targets. In all cases, we never properly tested
these targets, however with the DIA now in hand we can mobilize a
drill program in 2020 to drill what we believe to be the future of
the AntaKori project.”
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, FAusIMM, who serves as the qualified person (QP) under the
definition of National Instrument 43-101.
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. Regulus’ flagship property 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.
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, the completion of
an updated NI 43-101 resource estimate 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.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/314318e5-871c-4a72-b29b-129d243a2a5e
Regulus Resources (TSXV:REG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Regulus Resources (TSXV:REG)
Historical Stock Chart
From Apr 2023 to Apr 2024