Regulus Resources Inc. (TSX-V: REG, OTCQX: RGLSF) is pleased to announce that it has entered into an option agreement whereby the Company can earn up to a 60% interest in certain claims from Gold Fields La Cima S.A. a subsidiary company of Gold Fields Ltd. The addition of the GF claims (see Figure 1) grows the Company’s land position in the AntaKori copper-gold project, will increase future resource estimations via the ability to deepen and pushback the current conceptual resource pit on to these claims, and provide additional exploration opportunities to increase the mineralized footprint at the AntaKori project.
The terms of the option agreement are as follows:
John Black, CEO and Director of Regulus, commented: “Signing this agreement is a key step forward for the AntaKori project. The addition of these claims is strategic to the Company for several reasons. First, it significantly expands the AntaKori land position and further consolidates the region. Second, adding these claims allow us to layback our current resource estimation pit further than we could previously, which should add resources that are already classified but not within the current constraints of the estimated resource pit, and thus not reportable. Third, these claims are in the immediate vicinity of known mineralization and, while limited work has been completed on them to date, they present opportunities to expand the mineralized footprint at AntaKori. Finally, we are partnering with a well-regarded group in Gold Fields who have been operating in the region for quite some time.”
John Black added: “The key takeaways from this agreement are that Regulus has expanded its land position in a prolific district, added new targets to be drill tested, and that under any scenario, Regulus can now layback a mining operation onto the claims in this agreement.”
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. The principal project held by Regulus 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.
A photo accompanying this announcement is available at
Acquisition includes NI 43-101 mineral resource of 515,000 ounce... READ MORE
Omai Gold Mines Corp. (TSX-V:OMG) is pleased to announce that res... READ MORE
Vision Lithium Inc. (TSX-V: VLI) (OTCQB: ABEPF) (FSE: 1AJ2) is pl... READ MORE
GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) is pleased to ... READ MORE
Mistango River Resources Inc. (CSE: MIS) is pleased to announce a... READ MORE