EXPLORATION & DEVELOPMENT

Regulus hits 714m at 1.02% copper-equivalent

Some of best results to date from AntaKori

Staff reporter
Some of the best results to date from AntaKori

Some of the best results to date from AntaKori

Among the highlights, Regulus intercepted 714m at 1.02% copper-equivalent, namely 0.68% copper, 0.38g/t gold and 7.6g/t silver.

It also hit 396m at 1.05% CuEq and 137m at 3.75% CuEq.

Chief geological officer Dr Kevin Heather said there were indications of a mineralising event that was typical of those found in the peripheral portions of porphyry copper deposits.

"Not only are we seeing some of the best drill results and continuity of mineralisation on the project to date, but we are also encountering strong indications of a post-skarn, pre-high-sulphidation, phyllic alteration event with associated strong chalcopyrite-pyrite mineralisation locally with bornite," he said.

The results are from drill holes on Regulus' concessions in the ongoing resource expansion programme being done in collaboration with Compañía Minera Coimolache SA which operates the Tantahuatay gold mine to the south.

The drilling highlights were within the footprint of AntaKori's inferred 294.8 million tonne resource grading 0.48% copper, 0.36g/t gold and 10.2g/t silver.

Regulus had just over C$617,000 in working capital at the end of March and said in May management was evaluating a future financing to fund AntaKori's drilling programme proposed to the end of the year.

Regulus last month said its significant shareholder Route One Investment Company had committed to a US$30 million equity financing for Regulus' proposed Argentine spin-out, Aldebaran Resources.

Its shares closed up 8.8% yesterday to C$2.10.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.