| | Publié le 28 juin 2013 | ANNOUNCES DRILL RESULTS FROM CERRO CORI TARGET |
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REGULUS ANNOUNCES DRILL RESULTS FROM CERRO CORI TARGET June 27, 2013, (Vancouver) � Regulus Resources Inc. ("Regulus" or the �Company�, REG TSX:V) announces drilling results from the Company�s 100% owned Cerro Cori target located two kilometres northeast of the Rio Grande copper-gold project in Salta Province, Argentina. Four shallow diamond core holes, totalling 1,200 metres were drilled with the objective to test for near-surface leachable gold mineralization similar to that discovered in a single drill hole at Cerro Cori in late 2012 (RGR-12-118 with 297 m containing 0.36 g/t Au from the surface � please refer to press release of November 16, 2012) and further exposed in surface trenching earlier this year (press release of May 14, 2013). All four drill holes encountered significantly less mineralization and tighter structural control than what is exposed in surface trenching and RGR-12-118. Mineralized intervals are notably narrower and generally low grade with a best interval of 19.0 metres of 0.59 g/t Au from hole RGR-13-126. Potential remains for a deeper target at Cerro Cori but the possibility of a sizeable near surface, leachable gold zone has been greatly reduced. No further drilling is warranted at the Cerro Cori target at this time. John Black, President and CEO of Regulus commented as follows: �This short, low-cost drilling program was designed to test the potential for near surface, leachable gold mineralization similar to that at the nearby Lindero gold deposit of Goldrock Mines Corp. (GRM TSX.V). The results are significantly less than what we had hoped for both in terms of grade and interval widths. Although the narrow intervals of structurally hosted mineralization may represent a structural leakage zone above a deeper zone of Lindero style mineralization, we will not be continuing with drilling at the Cerro Cori target at this time and we are taking steps to substantially reduce our overall expenditures at both project and corporate levels. An ongoing re-evaluation of all previous drilling on the adjacent Rio Grande project is continuing to provide a better understanding of this large copper-gold-molybdenum system and define additional targets. This work will be completed over the next few months and provide us with a good backdrop to determine the best pathway forward for the Rio Grande project. Although market conditions are currently very difficult for mineral exploration companies, Regulus is in a fortunate position with more than $13 million in cash on hand (approximately $0.13 per outstanding share), no debt, and full ownership of its properties. We believe that as the situation becomes more critical for many exploration companies there will be some unusually good opportunities to acquire top quality assets that will strengthen our portfolio and diversify our political and technical risks. We are currently evaluating several encouraging opportunities and also taking steps to minimize our burn rate to maintain our strong cash position.� Please refer to our website at www.regulusresources.com for additional information about Regulus, the Rio Grande Project and the Cerro Cori target. About Regulus Resources Inc.Regulus Resources Inc. (REG TSX.V) is a mineral exploration company formed in December, 2010 in connection with the sale of Antares Minerals Inc. to First Quantum Minerals Ltd. (FM. TSX). Regulus has been exploring the Rio Grande Cu-Au-Ag porphyry project in Salta Province of NW Argentina as a 50/50 joint venture partner with Pachamama Resources. In May 2012, the two companies merged under the name of Regulus Resources to consolidate a 100% interest in the project. For Further Information, please contact:Regulus Resources Inc. John Black, President and CEOPhone: +1 720 514-9036 Mobile: +1-303 618-7797 Wayne Hewgill, P.Geo, COOPhone: +1 778 438-2481 Mobile +1 604 961-0033 View PDFNeither 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. All of Regulus� exploration programs and pertinent disclosure of a technical or scientific nature are prepared by, or under the direct supervision of, Wayne Hewgill, P.Geo, and Regulus� COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101. The Rio Grande samples were analysed with the following methods: Au � 30 g FA with AA Finish, Cu � four acid digestion for trace Cu and four acid digestion and AAS for ore grade Cu, 35 element Aqua Regia ICP-AES.
Regulus� security, chain of custody and quality control is described on their website and can be reviewed at: http://www.regulusresources.com/BestPractices/SamplingMethodologies.aspx 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. Specifically, and without limitation, all statements included in this press release that address activities, events or developments that either Regulus expects or anticipates will or may occur in the future, including management's assessment of future plans and operations and statements with respect to the completion of the anticipated drilling program and the completion of a NI 43-101 compliant resource estimate, 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. Such risks and uncertainties include, but are not limited to: the impact of general economic conditions in Canada and Argentina, industry conditions including changes in laws and regulations including adoption of new environmental laws and regulations, and changes in how they are interpreted and enforced, in Canada and Argentina, fluctuations in commodity prices and ability to complete operations due to factors beyond Regulus' control. Although the forward-looking statements contained in this Press Release are based upon assumptions which management believes to be reasonable, Regulus cannot assure shareholders that actual results will be consistent with these forward-looking statements. With respect to forward-looking statements contained in this press release, Regulus has made assumptions regarding: current commodity prices and royalty regimes; timing of receipt of regulatory approvals; availability of skilled labour; timing and amount of capital expenditures; future exchange rates; the impact of increasing competition; conditions in general economic and financial markets; effects of regulation by governmental agencies; royalty rates; future operating costs; and other matters. Accordingly, Regulus does not give any assurance nor make any representations or warranty that the expectations conveyed by the forward-looking statements will prove to be correct and actual results may differ materially from those anticipated in the forward-looking statements. Regulus does not undertake any obligation to publicly update or revise any forward-looking statements other than required by applicable securities law.
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Données et statistiques pour les pays mentionnés : Canada | Tous Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous
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Regulus Resources Inc.
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EXPLORATEUR |
CODE : REG.V |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Regulus Resources est une société d’exploration minière de cuivre et d'or basée au Canada. Son principal projet en exploration est RIO GRANDE en Argentine. Regulus Resources est cotée au Canada. Sa capitalisation boursière aujourd'hui est 111,1 millions CA$ (82,0 millions US$, 73,8 millions €). La valeur de son action a atteint son plus haut niveau récent le 08 janvier 2010 à 9,58 CA$, et son plus bas niveau récent le 22 janvier 2016 à 0,19 CA$. Regulus Resources possède 56 405 583 actions en circulation. |
Financements de Regulus Resources Inc. |
Projets de Regulus Resources Inc. |
Communiqués de Presse de Regulus Resources Inc. |
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