VANCOUVER, BC, Sept. 23,
2022 /CNW/ - Regency Silver Corp. ("Regency
Silver" or the "Company") (TSXV: RSMX) (OTCQB: RSMXF) is pleased to
announce that it has entered into an option agreement dated
September 22, 2022 (the "Option
Agreement") to option a 100% undivided interest in the El Tablon
Claims located in the State of Durango,
Mexico.
The property covers a total of 7,200 hectares and contains
numerous artisanal workings and tunnels, which explored many of the
veins and veinlets that exist within the concession area.
The El Tablon Claims are located within the Sierra Madre
Occidental prolific gold-silver belt only 16 miles from the
historical Tayoltita (San Dimas district), which has historically
produced more than 11 million ounces of gold and 582 million ounces
of silver and which continues to be active with significant
mineral resources. 1
The El Tablon Claims are in a similar geological environment,
characterized by the presence of productive rocks of the Lower
Volcanic Complex, to which subvolcanic felsic rock bodies with
stockworks and gold dissemination are found. In addition, the
canyons around El Tablon expose
many other mineralized zones, and works can be found in the
neighboring mines of the Ventanas,
Mala Noche, and San Cayetano
projects.
A Mexican Council on Natural Resources (CRM) (the precursor to
the Mexican Geological Service) report from 2012 indicates the
presence of 7 veins and breccias in a short space of land, which
reported silver grades up to 1,402 g/t, lead up to 2.097%, copper
up to 1.381%, and gold up to 1.00 g/t. One of the samples exceeded
10,000 g/t of silver. The El Tablon Claims have potential both for
high grade silver veins and bulk mineable high volume-low grade
polymetallic mineralization. 2
In order to exercise the option, Regency Silver must pay
US$50,000 on receipt of Exchange
acceptance, issue a total of 1,000,000 common shares and pay back
taxes and mining filings on or before March
31, 2024. Regency Silver must also pay a US$1,000,000 bonus upon a NI 43-101 resource
being published, which estimates the El Tablon Claims contain a
minimum of 70 million silver equivalent ounces or 1 million gold
ounces in the measured or indicated categories. The shares are
subject to a four month hold period and the agreement is subject to
the approval of the TSX Venture Exchange.
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1 Source:
https://www.firstmajestic.com/projects/producing-mines/san-dimas/
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2 Source: Servicio
Geologico Mexicano, Chairez B.J. Velazquez H.J., 2012 Estudio de
Asesoria Geologica del Lote Minero La Fortuna, San Dimas,
Durango.
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ABOUT REGENCY SILVER
CORP.
Regency Silver is a silver and gold exploration company focused
on the Americas. Regency Silver is led by a team of experienced
professionals with expertise in both exploration and production.
Regency Silver's flagship project is the Dios Padre silver project
in Sonora, Mexico.
The technical information contained in this news release has
been reviewed by Company director Michael
Tucker, P.Geo, who is recognized as a Qualified Person under
the guidelines of National Instrument 43-101. Mr. Tucker is a
director of the Company and for that reason is not considered
independent. Mr. Tucker has read and approved the technical
contents of this news release.
For further details about the Company please visit
www.Regency-Silver.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements: This news release includes certain
forward-looking statements and forward-looking information
(together, "forward-looking statements"). There can be no assurance
that such statements will prove to be accurate and actual results
and future events may vary from those anticipated in such
statements. Important risk factors that could cause actual results
to differ materially from the Company's plans or expectations
include the risk that TSX Venture Exchange acceptance of the option
agreement will not be obtained, regulatory changes, fundraising,
and risk associated with mineral exploration, including the risk
that actual results of exploration will be different from those
expected by management. The forward-looking statements in this news
release were developed based on the expectations of management,
including that Exchange acceptance for the proposed transaction
will be obtained, conditions will be satisfied, required
fundraising will be completed and the other risks described above
will not materialize. The Company expressly disclaims any intention
or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as otherwise required by applicable securities
legislation.
SOURCE Regency Silver Corp