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Regulus extends AntaKori footprint onto Anta Norte

Regulus Resources has extended the mineralised footprint at its AntaKori copper-gold project in Peru beyond the 2019 resource model from the first two drill holes in the Anta Norte area. Drilling at Anta Norte aims to test various geophysical and geological targets.
Regulus extends AntaKori footprint onto Anta Norte Regulus extends AntaKori footprint onto Anta Norte Regulus extends AntaKori footprint onto Anta Norte Regulus extends AntaKori footprint onto Anta Norte Regulus extends AntaKori footprint onto Anta Norte

Regulus Resources' Antakori copper-gold-silver project in Peru

Staff reporter

The company said mineralisation and favourable alteration appeared to be increasing with depth. Both holes ended in the favourable lithological host rocks for skarn-style alteration and mineralisation, indicating potential for more mineralisation at depth.

Highlights included 59.05m grading 0.47% copper, 0.38 grams per tonne of gold and 30.77g/t of silver for 1.02% copper-equivalent.

"The results of these holes, in a greenfield area, are very encouraging from a geological and resource perspective," Regulus chief geological officer Dr Kevin Heather said.

"They extend the mineralised footprint well beyond the current constraints of our 2019 resource model, and with additional support-drilling, should justify expanding the conceptual resource pit well beyond its current limits.

"Expanding the resource pit is especially important, as it not only adds new resources from recent drilling, but also because it should capture existing unclassified resource blocks that are already modeled but that currently fall outside of the conceptual pit."

The Anta Norte target area is about 1.2km by 1.6km in size. The first two drill holes in this area were completed on the Colquirrumi claims where the company has the right to earn up to a 70% interest.

Drilling at Anta Norte is currently temporarily suspended while Regulus addresses community concerns about potential impacts from drilling. "Discussions are progressing well and we anticipate that we will reinitiate drilling soon," said Regulus Resources president and CEO John Black.

AntaKori hosts a resource of 250 million tonnes grading 0.48% copper, 0.29g/t of gold and 7.5g/t of silver for a 0.74% copper-equivalent grade or a 1.09g/t gold-equivalent grade in the indicated category, containing 2.6 billion pounds of copper, 2.3 million ounces of gold and 61Moz of silver. In addition, it has 267Mt grading 0.41% copper, 0.26g/t gold and 7.8g/t silver for 0.66% copper-equivalent or 0.96g/t gold-equivalent inferred, containing 2.4Blb of copper, 2.2Moz of gold and 67Moz of silver.

Shares in Regulus Resources are trading at C$1.08, valuing the company at $110 million.