05 Mar Canadian explorer Regulus Resources updates mineral resource estimate in Peru
TSX.V-listed Regulus Resources has announced an update to the mineral resource estimate at its AntaKori copper-gold project in Northern Peru.
The new resource includes 250 million tonnes at a grading of 0.48% copper, 0.29 grams per tonne of gold and 7.5 g/t of silver in the indicated category. The resource contains a total of 2.6 billion pounds of copper, 2.3 million ounces (Moz) of gold and 61 Moz of silver.
The Canadian explorer’s new estimate is based on drilling the company completed in November 2018 and drilling data provided through a collaborative agreement established in 2017 with the adjoining property holder.
“This new estimate not only takes into account approximately 20,000 metres of drilling completed by Regulus in 2017-18, but also uses assumptions and methodologies that we believe are better supported for the project in order to generate a higher level of confidence in the reported estimate,” said CEO John Black.
Black went on to highlight the significance of the updated resource estimate for the project, before stressing that the company expects several more increases to the size of the mineral resource at AntaKori.
The company’s chief geological officer Kevin Heather added that while the interim resource estimate resembled a substantial increase to the tonnage and contained metals of the project, Regulus has yet to find the limits of the mineralisation, therefore additional drilling is warranted.