473.2 metres with 1.16% Cu, 0.21 g/t Au and 8.4 g/t Ag (1.39% CuEq)
including
88.0 metres with 1.50% Cu, 0.38 g/t Au and 19.3 g/t Ag (1.95% CuEq)
and
51.8 metres with 1.95% Cu, 0.49 g/t Au and 12.6 g/t Ag (2.41% CuEq)
in hole AK-18-026; preceded by upper zone in same hole of
236.35 metres with 0.53% Cu, 0.63 g/t Au and 12.1 g/t Ag (1.09% CuEq)
including
33.95 metres with 2.46% Cu, 3.02 g/t Au and 37.9 g/t Ag (4.96% CuEq)
VANCOUVER, British Columbia, Jan. 30, 2019 (GLOBE NEWSWIRE) -- Regulus Resources Inc.
("Regulus" or the "Company", REG TSX.V) is pleased to announce the results from six additional drill
holes at the Company’s AntaKori copper-gold-silver project in northern Peru. The drilling campaign is underway in collaboration
with Compañía Minera Coimolache S.A. (“Coimolache” or “CMC”), the operator of the Tantahuatay gold mine immediately to the south of
the AntaKori project. Holes reported in this news release are AK-18-022 through AK-18-027 (see Figure 1). Results are only reported
herein for the portions of the drill holes that occur within Regulus concessions. All of the holes encountered significant
mineralization with the most notable results from hole AK-18-026 along the northern margin of drilling completed to date.
Highlights from drill holes AK-18-022 through AK-18-027 – AntaKori Project:
-
AK-18-026:
- 236.35 m with 0.53% Cu, 0.63 g/t Au and 12.09 g/t Ag (1.09% CuEq) from 87.55 m depth
including
- 33.96 m with 2.46% Cu, 3.02 g/t Au and 37.92 g/t Ag (4.96% CuEq) from 153.15 m depth
- Both high-sulphidation epithermal and skarn with overprint of carbonate base metal intermediate
sulphidation veining
and
- 145.10 m with 0.35% Cu, 0.14 g/t Au and 10.17 g/t Ag (0.54% CuEq) from 351.30 m depth
- Skarn mineralization
and
- 473.20 m with 1.16% Cu, 0.21 g/t Au and 8.43 g/t Ag (1.39% CuEq) from 640.50 m depth
including
- 88.00 m with 1.50% Cu, 0.38 g/t Au and 19.32 g/t Ag (1.95% CuEq) from 647.00 m depth
and
- 51.80 m with 1.95% Cu, 0.49 g/t Au and 12.61 g/t Ag (2.41% CuEq) from 762.30 m depth
and
- 42.10 m with 2.24% Cu, 0.15 g/t Au and 5.13 g/t Ag (2.39% CuEq) from 890.40 m depth
and
- 55.55 m with 1.93% Cu, 0.09 g/t Au and 4.12 g/t Ag (2.04% CuEq) from 968.00 m depth
- Well developed breccia in Farrat Formation quarzite that is cemented by pyrite,
chalcopyrite, bornite, chalcocite and magnetite with minor late infilling of enargite and tennantite. The orientation of the
breccia body is currently undetermined. This is the most significant occurrence of bornite encountered to date at the
project.
-
AK-18-027:
- 344.9 m with 0.30% Cu, 0.16 g/t Au and 7.89 g/t Ag (0.49% CuEq) from 266.90 m depth
- Predominantly as skarn
and
- 160.65 m with 0.29% Cu, 0.12 g/t Au and 1.22 g/t Ag (0.39% CuEq) from 764.65 m depth
- Zone of abundant porphyry dikes cutting skarn and quartzite
-
AK-18-025:
- 514.85 m with 0.27% Cu, 0.37 g/t Au and 10.78 g/t Ag (0.63% CuEq) from 104.80 m depth
- Drilled from same platform as AK-18-026 and AK-18-023 but oriented to north
- Mineralization is predominantly as skarn in underlying Cretaceous sedimentary sequence
-
AK-18-024:
- 601.09 m with 0.35% Cu, 0.17 g/t Au and 5.22 g/t Ag (0.51% CuEq) from 68.38 m depth
and
- 120.50 m with 0.43% Cu, 0.10 g/t Au and 2.62 g/t Ag (0.52% CuEq) from 768.65 m depth
- The upper interval is predominantly skarn but the lower interval is hosted in brecciated Farrat
Formation quartzites with notably higher copper grades associated with pyrite-chalcopyrite-bornite as fracture filling and
breccia matrix.
-
AK-18-023:
- 270.91 m with 0.18% Cu, 0.22 g/t Au and 8.92 g/t Ag (0.42% CuEq) from 104.19 m depth
and
- 86.60 m with 0.23% Cu, 0.11 g/t Au and 4.03 g/t Ag (0.34% CuEq) from 415.50 m depth
- Drilled from same platform as AK-18-026 but at a more shallow angle to the north
- Hole was lost prior to full target depth due to difficult drilling conditions
-
AK-18-022:
- 332.67 m with 0.35% Cu, 0.34 g/t Au and 7.68 g/t Ag (0.66% CuEq) from 119.63 m depth
including
- 71.66 m with 0.76% Cu, 0.91 g/t Au and 8.94 g/t Ag (1.50% CuEq) from 178.74 m depth
further including
- 13.50 m with 1.63% Cu, 2.44 g/t Au and 21.21 g/t Ag (3.56% CuEq) from 221.50 m depth
- High-sulphidation style mineralization in Miocene volcanic sequence to a depth of 252.60 m with low to
moderate grade skarn below
John Black, Chief Executive Officer of Regulus, commented as follows: “The AntaKori
project continues to consistently deliver encouraging drill results and we are particularly pleased with the new zone of
breccia-hosted high grade copper mineralization in AK-18-026. This batch of drill holes concludes our Phase 1 drilling program with
a total of 20,332 m drilled on Regulus concessions. The results from the Phase 1 program will form the basis for the completion of
an updated NI 43-101 mineral resource estimate that is progressing well and scheduled for completion by the end of February.
Drilling has continued directly into a Phase 2 program and we will drill with 2 rigs until the end of the wet season in
approximately April at which time we will increase the rig count to allow for the completion of approximately 25,000 m of
additional drilling in 2019.”
Dr. Kevin B. Heather, Chief Geological Officer of Regulus, commented as follows:
“The final results from our Phase 1 drill program at Antakori have highlighted two important factors: (1) All 27 holes of
the program intercepted mineralized rock which considering the size and scope of our drill program is a testament to the size of
the AntaKori system, and (2) I’m particularly excited by the first occurrence of significant amounts of breccia-hosted bornite with
chalcopyrite within a significant high grade copper interval in hole AK-18-26 (suggesting that we are approaching the core of the
system). AK-18-026 is the furthest northward hole drilled in this campaign and the first hole to test the southern margin of a
distinct magnetic low that may be associated with an intrusive center. Our Phase 2 drill program will continue to test the northern
extension of the system which we believe will lead us to the core of this extremely large system.”
The AntaKori system hosts two principal styles of copper-gold-silver sulphide mineralization: 1) mineralized
skarn and breccias (Cu-Au-Ag) within Cretaceous calcareous sedimentary rocks, likely associated with as-yet undiscovered porphyry
mineralization; and 2) younger, epithermal high-sulphidation (HS) mineralization (Cu-Au-Ag-As) in overlying Miocene volcanic rocks
and breccias that host the adjacent Tantahuatay heap-leach gold mine to the south. The younger high-sulphidation
mineralization is characterized by pyrite-enargite and locally overprints the earlier skarn mineralization
(pyrite-chalcopyrite-magnetite), particularly along the southern part of the AntaKori system. Drill holes at AntaKori typically
encounter the overlying Miocene volcanic rocks and high-sulphidation style mineralization prior to entering the Cretaceous
sedimentary sequence and skarn at depth. As the drilling progresses to the north, the volcanic rocks terminate, and drill holes
will commence directly in the skarn/porphyry environment within the Cretaceous sedimentary sequence (see Figures 2-5).
AK-18-022 through AK-18-027 were collared to test Regulus mineral concessions, within or near to the footprint
of the currently reported AntaKori NI 43-101 inferred mineral resource of 294.8 million tonnes with 0.48% Cu, 0.36 g/t Au and 10.2
g/t Ag (see Southern Legacy news release of July 3rd, 2012; Wilson, 2012 – posted to SEDAR under Southern Legacy
Minerals on August 21, 2012), to confirm and extend the known, but only partially delineated resource.
Discussion of results
Table 1 below provides more details regarding the mineralized intercepts encountered in drill holes AK-18-022 to
AK-18-027. The locations of the reported drill holes are indicated on Figure 1. The design of the current drilling program is
for holes spaced on approximately 150 m centres along drill sections oriented at 045 degrees (SW-NE).
Drill Holes AK-18-027 and AK-18-024 were drilled from the same platform but in
opposite directions on section line 1050NW (see figure 4). Both holes tested an upper zone of Miocene volcanic rocks with
associated high-supphidation epithermal mineraliztion before entering into skarn mineralization at depths of 260-300m. The
holes terminated in quartzite which is normally a poor host at AntaKori but in hole AK-18-024 the quartzite is brecciated and
locally well-mineralized.
Drill holes AK-18-026, AK-18-025, and AK-18-023 were all drilled from the same
platform as previously reported drill hole AK-18-020 (see Regulus news release of November 14, 2018). These holes complete a
fan of holes on section 950NW (see figures 3 and 5) and represent the northernmost drilling completed to date in this drill
program. The holes encountered a thin zone of Miocene volcanic rocks to depths of 140-170 m prior to entering into skarn
mineralization within the underlying Cretaceous sedimentary sequence. Hole AK-18-023 failed to reach target depth but hole
AK-18-026 was completed to target depth and extended deeper when a well mineralized breccia body was encountered. The breccia
is developed in Farrat Formation quartzite and is cemented by pyrite-chalcopyrite-bornite-chalcocite with minor late infilling of
enargite-tennantite. This is the most significant occurrence of bornite encountered at AntaKori to date. The geometry
of the breccias body is very poorly constrained at this time as this is the only hole in which it has been intersected. The
breccia varies in degree of development with blocks of less brecciated quartzite preserved within the overall body. The well
brecciated portions of the body show long runs with copper mineralization consistently in the 1-4% range. The late infilling
of enargite-tennantite mineralization results in moderate levels of arsenic (see Table 2 for results) that are less that what
occurs in the high-sulphidation mineralization within the overlying Miocene volcanic sequence but higher than skarn mineralization
in the Cretaceous carbonate rocks.
All three of these holes show local evidence of the late base metal carbonate style of mineralization that was
previously reported from drill hole AK-18-020. This younger mineralization event occurs as irregular veins that overprint skarn
mineralization and are locally incorporated as fragments in late breccias. It is probably more closely related in age, but younger
than, the high-sulphidation epithermal mineralization in the overlying Miocene volcanic rocks and is characterized by high
gold-silver contents, elevated zinc-lead, and lower arsenic than the high-sulphidation epithermal mineralization. Individual assay
intervals can have very high grades with several intervals exceeding 10 g/t Au in holes AK-18-025 and AK-18-026. Individual
assay intervals in hole AK-18-025 contain up to 27.7 g/t Au over an interval of 1.6m. Individual assays in hole AK-18-026
contain up to 28.4 g/t Au and 17.33% Cu over an interval of 0.9m. These high grade intervals are generally enclosed within
broader zones of well mineralized rock. The following tables show the zones of higher grade mineralization with results from
individual samples cut to 10% Cu, 10 g/t Au, 1000 g/t Ag and also to 5% Cu, 5 g/t Au, 500 g/t Ag to help evaluate the influence of
the higher grade samples.
AK-18-025 25.70 m from 325.45-351.15 m |
Cu % |
Au g/t |
Ag/t |
Uncut values |
0.97 |
3.83 |
26.56 |
Cut to 10% Cu, 10 g/t Au, 1000 g/t Ag |
0.97 |
1.93 |
26.56 |
Cut to 5% Cu, 5 g/t Au, 500 g/t Ag |
0.85 |
1.31 |
26.56 |
AK-18-026 33.95 m from 153.15-187.10 m |
Cu % |
Au g/t |
Ag/t |
Uncut values |
2.46 |
3.02 |
37.92 |
Cut to 10% Cu, 10 g/t Au, 1000 g/t Ag |
2.22 |
2.42 |
37.92 |
Cut to 5% Cu, 5 g/t Au, 500 g/t Ag |
1.75 |
2.05 |
37.92 |
Drill hole AK-18-022 is located on section L500NW (see figure 2) and tested the
eastern margin of the currently defined mineralization at AntaKori. The hole encountered high-sulphidation mineralization in
Miocene volcanic rocks to a depth of 252.6 m prior to entering skarn mineralization in the underlying Cretaceous sequence (see
tables 1 and 2 for summary of mineralized intervals). At the base of the Miocence volcanic sequence there is a zone of higher grade
mineralization from 232.20-250.40m with several individual assay intervals that exceed 5 g/t Au and/or 5% Cu with grades up to 9.44
g/t Au and 6.22% Cu. The following table shows the assay results from this interval with results from individual samples cut to 10%
Cu, 10 g/t Au, 1000 g/t Ag and also to 5% Cu, 5 g/t Au, 500 g/t Ag to help evaluate the influence of the higher-grade samples.
AK-18-022 18.20 m from 232.2-250.4 m |
Cu % |
Au g/t |
Ag/t |
Uncut values |
1.95 |
1.61 |
16.64 |
Cut to 10% Cu, 10 g/t Au, 1000 g/t Ag |
1.95 |
1.61 |
16.64 |
Cut to 5% Cu, 5 g/t Au, 500 g/t Ag |
1.77 |
1.10 |
16.64 |
Figures 2-5 show representative geologic cross sections of for holes AK-18-022 through AK-18-027.
Additional sections for the other holes reported here and from previously reported holes can be found on the Regulus website:
www.regulusresources.com.
Drill Hole ID |
from
(m) |
to
(m) |
Length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Cu Eq
% |
Au Eq
g/t |
AK-18-027 |
21.00 |
29.06 |
8.06 |
1.65 |
0.35 |
3.13 |
1.92 |
2.70 |
|
59.72 |
127.88 |
68.16 |
0.37 |
0.09 |
2.09 |
0.45 |
0.63 |
|
266.90 |
611.83 |
344.93 |
0.30 |
0.16 |
7.89 |
0.49 |
0.68 |
including |
279.15 |
310.70 |
31.55 |
0.52 |
0.24 |
22.56 |
0.89 |
1.25 |
and |
577.87 |
591.79 |
13.92 |
0.54 |
0.25 |
20.24 |
0.90 |
1.27 |
|
764.65 |
925.30 |
160.65 |
0.29 |
0.12 |
1.22 |
0.39 |
0.54 |
|
961.74 |
985.20 |
23.46 |
0.20 |
0.07 |
0.38 |
0.25 |
0.35 |
|
|
|
|
|
|
|
|
|
Total depth |
991.03 |
|
|
|
|
|
|
|
Drill Hole ID |
from
(m) |
to
(m) |
Length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Cu Eq
% |
Au Eq
g/t |
AK-18-026 |
0.00 |
46.17 |
Not within Regulus Concessions - not reportable by Regulus |
|
87.55 |
323.90 |
236.35 |
0.53 |
0.63 |
12.09 |
1.09 |
1.53 |
including |
153.15 |
187.11 |
33.96 |
2.46 |
3.02 |
37.92 |
4.96 |
6.95 |
|
351.30 |
496.40 |
145.10 |
0.35 |
0.14 |
10.17 |
0.54 |
0.76 |
including |
382.70 |
389.00 |
6.30 |
3.18 |
0.36 |
128.80 |
4.61 |
6.46 |
|
640.50 |
1113.70 |
473.20 |
1.16 |
0.21 |
8.43 |
1.39 |
1.95 |
including |
647.00 |
735.00 |
88.00 |
1.50 |
0.38 |
19.32 |
1.95 |
2.73 |
and |
762.30 |
814.10 |
51.80 |
1.95 |
0.49 |
12.61 |
2.41 |
3.38 |
and |
829.90 |
856.05 |
26.15 |
1.44 |
0.28 |
15.27 |
1.78 |
2.49 |
and |
890.40 |
932.50 |
42.10 |
2.24 |
0.15 |
5.13 |
2.39 |
3.35 |
and |
968.00 |
1023.55 |
55.55 |
1.93 |
0.09 |
4.12 |
2.04 |
2.86 |
|
1147.20 |
1163.20 |
16.00 |
0.25 |
0.04 |
1.02 |
0.29 |
0.41 |
|
|
|
|
|
|
|
|
|
Total depth |
1302.30 |
|
|
|
|
|
|
|
Drill Hole ID |
from
(m) |
To
(m) |
Length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Cu Eq
% |
Au Eq
g/t |
AK-18-025 |
0.00 |
32.13 |
Not within Regulus Concessions - not reportable by Regulus |
|
104.80 |
619.65 |
514.85 |
0.27 |
0.37 |
10.78 |
0.63 |
0.88 |
including |
192.55 |
215.95 |
23.40 |
0.59 |
0.31 |
13.61 |
0.94 |
1.32 |
and |
325.45 |
351.15 |
25.70 |
0.97 |
3.83 |
26.56 |
3.95 |
5.53 |
|
|
|
|
|
|
|
|
|
Total depth |
619.65 |
|
|
|
|
|
|
|
Drill Hole ID |
from
(m) |
To
(m) |
Length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Cu Eq
% |
Au Eq
g/t |
AK-18-024 |
68.38 |
669.47 |
601.09 |
0.35 |
0.17 |
5.22 |
0.51 |
0.72 |
including |
192.90 |
235.80 |
42.90 |
0.75 |
0.12 |
4.14 |
0.88 |
1.23 |
and |
275.05 |
316.10 |
41.05 |
0.59 |
0.30 |
14.65 |
0.94 |
1.32 |
|
768.65 |
889.15 |
120.50 |
0.43 |
0.10 |
2.62 |
0.52 |
0.73 |
including |
819.85 |
884.20 |
64.35 |
0.60 |
0.12 |
3.70 |
0.71 |
1.00 |
|
931.76 |
938.00 |
6.24 |
3.59 |
1.60 |
241.01 |
6.93 |
9.71 |
|
|
|
|
|
|
|
|
|
Total depth |
998.91 |
|
|
|
|
|
|
|
Drill Hole ID |
from
(m) |
To
(m) |
Length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Cu Eq
% |
Au Eq
g/t |
AK-18-023 |
0.00 |
24.58 |
Not within Regulus Concessions - not reportable by Regulus |
|
104.19 |
375.10 |
270.91 |
0.18 |
0.22 |
8.92 |
0.42 |
0.59 |
including |
150.05 |
258.05 |
108.00 |
0.20 |
0.34 |
11.20 |
0.55 |
0.77 |
|
415.50 |
502.10 |
86.60 |
0.23 |
0.11 |
4.03 |
0.34 |
0.48 |
|
|
|
|
Total depth |
549.10 |
hole lost due to difficult ground conditions |
Drill Hole ID |
from
(m) |
To
(m) |
Length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Cu Eq
% |
Au Eq
g/t |
AK-18-022 |
11.16 |
92.53 |
81.37 |
0.33 |
0.16 |
2.88 |
0.46 |
0.65 |
|
119.63 |
452.30 |
332.67 |
0.35 |
0.34 |
7.68 |
0.66 |
0.92 |
including |
178.74 |
250.40 |
71.66 |
0.76 |
0.91 |
8.94 |
1.50 |
2.10 |
which includes |
221.50 |
235.00 |
13.50 |
1.63 |
2.44 |
21.21 |
3.56 |
4.99 |
|
|
|
|
Total depth |
454.79 |
hole lost due to difficult ground conditions |
Table 1. AntaKori Holes AK-18-022 Through AK-18-027 Results. The grades are uncut. Cu Eq
and Au Eq values were calculated using copper, gold and silver. Metal prices utilized for the calculations are Cu –
US$2.25/lb, Au – US$1,100/oz, and Ag – US$14/oz. All intervals presented above consist of sulphide mineralization. No
adjustments were made for recovery as the project is an early stage exploration project and metallurgical data to allow for
estimation of recoveries is not yet available. The formulas utilized to calculate equivalent values are Cu Eq (%) = Cu% + (Au g/t *
0.7130) + (Ag g/t * 0.0091) and Au Eq (g/t) = Au g/t + (Cu% * 1.4026) + (Ag g/t * 0.0127).
Drill Hole ID |
from (m) |
to (m) |
length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Zinc
% |
As
ppm |
AK-18-027 |
|
|
|
|
|
|
|
|
Miocene Volcanic (HS) |
21.00 |
29.06 |
8.06 |
1.65 |
0.35 |
3.13 |
0.01 |
5893 |
Miocene Volcanic (HS) |
59.72 |
127.88 |
68.16 |
0.37 |
0.09 |
2.09 |
0.00 |
1119 |
Breccia |
266.90 |
301.80 |
34.90 |
0.88 |
0.21 |
16.62 |
0.26 |
6472 |
Skarn |
301.80 |
611.83 |
310.03 |
0.24 |
0.15 |
6.91 |
0.22 |
192 |
Skarn |
577.87 |
591.79 |
13.92 |
0.54 |
0.25 |
20.24 |
0.10 |
41 |
Skarn/porphyry dikes |
764.65 |
811.80 |
47.15 |
0.29 |
0.16 |
1.21 |
0.01 |
81 |
porphyry dikes/qtzte |
811.80 |
925.30 |
113.50 |
0.28 |
0.11 |
1.22 |
0.00 |
221 |
porphyry dikes |
961.74 |
985.20 |
23.46 |
0.20 |
0.07 |
0.38 |
0.00 |
28 |
Drill Hole ID |
from (m) |
to (m) |
length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Zinc
% |
As
ppm |
AK-18-026 |
|
|
|
|
|
|
|
|
Miocene Volcanic (HS) |
87.55 |
171.30 |
83.75 |
0.42 |
0.70 |
12.23 |
0.32 |
584 |
Skarn |
171.30 |
323.90 |
152.60 |
0.59 |
0.60 |
12.02 |
0.41 |
180 |
CBM veins |
153.15 |
187.11 |
33.96 |
2.46 |
3.02 |
37.92 |
0.40 |
441 |
Skarn |
351.30 |
496.40 |
145.10 |
0.35 |
0.14 |
10.17 |
0.20 |
213 |
Skarn |
382.70 |
389.00 |
6.30 |
3.18 |
0.36 |
128.80 |
3.15 |
48 |
Breccia/Quartzite |
640.50 |
1113.70 |
473.20 |
1.16 |
0.21 |
8.43 |
0.05 |
909 |
Breccia |
647.00 |
735.00 |
88.00 |
1.50 |
0.38 |
19.32 |
0.08 |
2090 |
Breccia |
762.30 |
814.10 |
51.80 |
1.95 |
0.49 |
12.61 |
0.02 |
730 |
Breccia |
829.90 |
856.05 |
26.15 |
1.44 |
0.28 |
15.27 |
0.12 |
1643 |
Breccia |
890.40 |
932.50 |
42.10 |
2.24 |
0.15 |
5.13 |
0.01 |
824 |
Breccia |
968.00 |
1023.55 |
55.55 |
1.93 |
0.09 |
4.12 |
0.00 |
467 |
Breccia/Quartzite |
1147.20 |
1163.20 |
16.00 |
0.25 |
0.04 |
1.02 |
0.00 |
265 |
Drill Hole ID |
from (m) |
to (m) |
length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Zinc
% |
As
ppm |
AK-18-025 |
|
|
|
|
|
|
|
|
Miocene Volcanic (HS) |
104.80 |
190.65 |
85.85 |
0.15 |
0.34 |
15.61 |
0.22 |
291 |
Skarn/breccia |
190.65 |
619.65 |
429.00 |
0.37 |
0.29 |
9.81 |
0.22 |
261 |
Skarn/breccia |
325.45 |
351.15 |
25.70 |
0.97 |
3.83 |
26.56 |
0.35 |
1194 |
Drill Hole ID |
from (m) |
to (m) |
length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Zinc
% |
As
ppm |
AK-18-024 |
|
|
|
|
|
|
|
|
Miocene Volcanic (HS) |
68.38 |
260.40 |
192.02 |
0.41 |
0.13 |
3.42 |
0.01 |
1144 |
Miocene Volcanic (HS) |
192.90 |
235.80 |
42.90 |
0.75 |
0.12 |
4.14 |
0.00 |
2298 |
Skarn |
260.20 |
669.47 |
409.27 |
0.32 |
0.18 |
6.06 |
0.16 |
128 |
Skarn |
275.05 |
316.10 |
41.05 |
0.59 |
0.30 |
14.65 |
0.41 |
212 |
Quartzite |
768.65 |
889.15 |
120.50 |
0.43 |
0.10 |
2.62 |
0.00 |
441 |
Quartzite |
819.85 |
884.20 |
64.35 |
0.60 |
0.12 |
3.70 |
0.01 |
580 |
Quartzite |
931.76 |
938.00 |
6.24 |
3.59 |
1.60 |
241.01 |
0.32 |
8860 |
Drill Hole ID |
from (m) |
to (m) |
length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Zinc
% |
As
ppm |
AK-18-023 |
|
|
|
|
|
|
|
|
Miocene Volcanic (HS) |
104.19 |
172.38 |
68.19 |
0.13 |
0.21 |
8.27 |
0.28 |
246 |
Skarn |
172.38 |
375.10 |
202.72 |
0.20 |
0.23 |
9.14 |
0.55 |
198 |
Skarn |
415.50 |
502.10 |
86.60 |
0.23 |
0.11 |
4.03 |
0.18 |
91 |
Drill Hole ID |
from (m) |
to (m) |
length
(m) |
Copper
% |
Gold
g/t |
Silver
g/t |
Zinc
% |
As
ppm |
AK-18-022 |
|
|
|
|
|
|
|
|
Miocene Volcanic (HS) |
11.16 |
92.53 |
81.37 |
0.33 |
0.16 |
2.88 |
0.01 |
834 |
Miocene Volcanic (HS) |
119.63 |
252.60 |
132.97 |
0.50 |
0.59 |
7.93 |
0.08 |
1718 |
Miocene Volcanic (HS) |
178.74 |
250.40 |
71.66 |
0.76 |
0.91 |
8.94 |
0.11 |
2536 |
Miocene Volcanic (HS) |
221.50 |
235.00 |
13.50 |
1.63 |
2.44 |
21.21 |
0.03 |
5292 |
Skarn |
252.60 |
452.30 |
199.70 |
0.24 |
0.16 |
8.84 |
0.18 |
245 |
Table 2. AntaKori Holes AK-18-017 Through AK-18-021 Results presented by Lithology/Alteration
Style. The grades are uncut. HS = high-sulphidation epithermal style mineralisation. CBM = carbonate-base metal style
epithermal mineralization. This table reports the mineralized intervals based upon lithology and demonstrates the notable
difference in arsenic content between high-sulphidation mineralization in the Miocene volcanic sequence (typically 1000-5000 ppm
As) and the lower concentrations found in the zones of skarn mineralization (typically 100-400 ppm As).
The true widths of the mineralized intervals reported in Tables 1 and 2 are difficult to ascertain and
additional drilling and geologic modelling will be required to better constrain the geometry of the mineralized zones.
High-sulphidation epithermal mineralization within the Miocene volcanic sequence is characterized by extensive zones of low to
moderate-grade disseminated and fracture-controlled mineralization that enclose zones of higher grade mineralization like that
encountered in holes AK-18-001 and AK-18-021 as well as several other drill holes. These higher grade zones consist of
irregular pyrite-enargite veins, veinlets, and open space infilling that exhibit both a subvertical structural control and a
subhorizontal permeability or manto control within the volcanic sequence. The margins of the higher grade high-sulphidation
epithermal zones are generally not sharp or planar in nature. Skarn style mineralization in the Cretaceous sedimentary sequence is
mainly controlled by the subhorizontal stratigraphy and reported mineralized intercepts are probably close to true thicknesses as
the drill holes are steeply inclined at 60-90 degrees. In addition to high-sulphidation epithermal and skarn styles of
mineralization the project also exhibits zones of irregular veins and veinlets of chalcopyrite-pyrite-anhydrite-quartz that are
thought to be more typical of porphyry copper style mineralization and likely occurring as broad zones of stockwork veining rather
than distinct veins. This latter style of mineralization typically overprints skarn mineralization and increases the overall
grade. Mineralization at the AntaKori deposit also occurs within breccias as both mineralized fragments (post-mineral breccias) or
as infilling of voids within the breccia (pre-mineral breccias). Mineralization within breccias tends to be irregular but the
majority of the breccias bodies are subvertical and planar in nature.
Sampling and Analytical Procedures
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 are diamond core holes with PQ, HQ or NQ core diameters. Drill core is collected at the
drill site where recovery and RQD (Rock Quality Designation) measurements are taken before the core is transported by truck to the
Regulus core logging facility in Cajamarca, where it is photographed and geologically logged. The core is then cut in half
with a diamond saw blade with half the sample retained in the core box for future reference and the other half placed into a
pre-labelled plastic bag, sealed with a plastic zip tie, and identified with a unique sample number. The core is typically
sampled over a 1 to 2 metre sample interval unless the geologist determines the presence of an important geological contact. 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 ALS laboratory in Lima for assay. Regulus independently inserts certified control standards, coarse
field blanks, and duplicates into the sample stream to monitor data quality. These standards are inserted “blindly” to the
laboratory in the sample sequence prior to departure from the Regulus core storage facilities. At the laboratory samples are
dried, crushed, and pulverized and then analyzed using a fire assay – AA finish analysis for gold and a full multi-acid digestion
with ICP-AES analysis for other elements. Samples with results that exceed maximum detection values for gold are re-analyzed by
fire assay with a gravimetric finish and other elements of interest are re-analyzed using precise ore-grade ICP analytical
techniques.
For Further Information, please contact: |
|
|
|
Regulus Resources Inc. |
John E. Black, CEO / Director |
Phone: |
|
+1 303 618-7797 mobile |
|
|
+1 720 514-9036 office |
Email: john.black@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 an inferred mineral resource of 294.8 million tonnes with a grade of 0.48% Cu, 0.36 g/t Au and 10.2 g/t Ag based upon 17,950
m of drilling by previous operators (see Southern Legacy Minerals press release of July 3rd, 2012 - Southern Legacy
Minerals and the Company entered into a business arrangement in 2014 and kept the name Regulus Resources Inc.). 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
Qualified Person
The scientific and technical data contained in this news release pertaining to the AntaKori project has been
reviewed and approved by Dr. Stewart D. Redwood, BSc (Hons), PhD, FIMMM, FGS, Consulting Geologist - AntaKori Project, 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.
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.
Photos accompanying this announcement are available at
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![Primary Logo](https://resource.globenewswire.com/media/b7a8a501-46b4-4b6f-b292-63c88ea5167e/small/regulus-rgb-jpg.jpg)
Figure 1
Drill hole location map – AntaKori Project. The current Regulus drilling program is highlighted. Section lines L500NW,
L950NW, L1050NW and L758,000E are shown in Figures 2 to 5. A full set of sections lines for drilling reported to date is
available on the Regulus website – www.regulusresources.com
Figure 2
Schematic geologic cross section L500NW indicating projected location and results of AK-18-022.
Figure 3
Schematic geologic cross section L950NW indicating projected location and results of AK-18-023 and AK-18-026.
Figure 4
Schematic geologic cross section L1050NW indicating projected location and results of AK-18-024 and AK-18-027.
Figure 5
Schematic geologic cross section L1150W indicating projected location and results of AK-18-025.