Drilling aims to expand and infill resources at AntaKori with the latest results providing evidence to support the hypothesis that moving to the north will encounter low-arsenic skarn and porphyry hosted mineralisation.
"Drilling along the edges of the prominent magnetic high geophysical target to the north of our project continues to provide evidence that our geological theory at AntaKori is correct, that as we move to the north (Anta Norte), we're moving toward cleaner mineralisation," said CEO John Black.
"The very long runs of clean, moderate-grade mineralisation … will not only expand the size of our current resource, but they also have us very excited about testing the geophysical targets to the north and northeast from more advantageous set-ups, once we receive drilling permits."
Black told Mining Journal that although there were no fixed timelines for awarding the new drilling permits, the company was hopeful of receiving them before year end, setting up 2020 as a major year for drilling for the company.
"We are half way through our 25,000m phase II programme. The plan is to be in a position to update the resource estimate mid-2020, but this will not be enough to drill off the northern anomalies, so we will be drilling most of 2020 to move towards delineating the margins of the system," he said.
Next year will also see Regulus progress work on metallurgical testing and acquiring surface rights as the project moves closer to the feasibility stage.
Shares in regulus Resources are trading at C$1.34, valuing the company at $122 million.