VANCOUVER, BC, Oct. 11,
2022 /CNW/ - Regency Silver Corp. ("Regency
Silver" or the "Company") (TSXV: RSMX) (OTCQB: RSMXF) is pleased to
announce that its initial drill hole into a pronounced Induced
Polarization (IP) anomaly 500 m north
of the historic Dios Padre silver mine workings intercepted
4.7 g/t gold over 53.8 metres. The intercept included
35.8 metres of 6.84 g/t gold, 0.88% copper and
21.82 g/t silver, starting at 420
m depth down hole along with 13.97 g/t Au, 50.25 g/t Ag
and 1.11 % Cu over 9.8 m
starting at 460.5m down hole. The
hole ended in mineralization and was stopped due to the 500 metre
maximum capacity of the drill rig being used.
The goal of the drill campaign at the Dios Padre project was
two-fold. To test the core of the IP anomaly 500 m to the north of the old mine workings and
to expand the Dios Padre silver mine mineralization both to the
east and to the west. The drill program was successful on both
fronts, intersecting strong gold, copper and silver mineralization
in the core of the IP anomaly as well as successfully intersecting
silver and gold mineralization both to the east and west of the old
mine workings.
Gold-Copper-Silver mineralization in REG-22-01 is largely
breccia hosted, with sulphides (pyrite, chalcopyrite) forming the
breccia matrix. The core of the mineralized zone sits within and
adjacent to a felsic intrusive body, though mineralization is
present both within the felsic unit as well as the host andesites.
Both rock units are strongly altered to white mica with some
silica. Gold and copper values correlate well with increased
sulphide abundance, and coarse visible gold (VG) was found in some
of the more gold-rich areas. The current hypothesis is that this
zone represents a down-dip extension of the Dios Padre silver mine
where we have moved further up the temperature gradient of the
system from a Ag-Pb-Zn dominant assemblage in the old mine
workings, to a Au-Cu dominant assemblage down-dip. The current
hypothesis is that this mineralization is driven by magmatic fluids
and that the mineralization intersected in REG-22-01 represents a
step closer to the magmatic source. Work is ongoing to determine
more specifically what type of broad, mineralizing system is
present at Dios Padre. Regency is highly encouraged by what these
results indicate.
Additional drilling outside of the existing block model near the
old silver mine workings intercepted grades as high as 582.47
g/t silver over 3.9 m from
21.1 m to 25
m depth in hole REG-22-05, 558.30 g/t silver over
5.85 m from 38.15 m to 44 m in
hole REG-22-06 and 420.23 g/t silver over 3.10 m in hole REG-22-09. The old silver mine
workings contain an existing NI 43-101 inferred resource of 9.5
million ounces of silver equivalent with an average silver grade of
236 g/t.(1.25 million tonnes at a grade of 236 g/t Ag Eq ). Regency
is very encouraged that the step-outs all indicate that the system
continues both to the east and the west where it was previously
thought to have stopped and currently sees no impediment to
continued lateral expansion of the deposit along strike to the east
and the west. Additionally, to the east, gold values of the
easternmost holes are some of the strongest intersected in the mine
area with hole REG-22-04 intersecting 17.9 m of 1.34 g/t Au. The results
indicate a more gold rich zonation in the system towards the
east.
Regency plans to follow up this successful program with a more
thorough airborne and ground geophysical program in addition to
further drilling to expand on the exceptional results from
REG-22-01. Work is ongoing to secure a drill and contractor
with a deeper drilling capacity to determine the extent of the
mineralization below 500 m downhole
depth.
Bruce Bragagnolo, Executive
Chairman said "The 2022 drill program was a major success. The
drill hole into the prominent IP anomaly proved out our theory that
the mineralization at depth would be different than the silver
mineralization found at the historic Dios Padre silver mine
workings. The gold and copper grades below the IP anomaly have
proven to be at the very top range of our expectations. The drill
results outside of the block model at the historic silver mine
workings were also very promising and justify additional work. Our
upcoming programs will be designed to verify management's model of
a large, district scale magmatic-hydrothermal gold-copper-silver
system."
Figure 1. Plan Map showing all Regency drilling and new 2022
assay results for gold (red) and copper (green). Background is the
IP anomaly which extends over 1 km. Highlights for the best gold
intersections are labelled on the map.
Figure 2. Plan Map showing all Regency drilling and new
2022 assay results for gold (red) and silver (blue). Background is
the IP anomaly which extends over 1 km. Highlights for the best
silver intersections are labelled on the map.
Figure 3. Cross section of REG-22-01 with chargeability
anomaly in background and highlighted composites.
Figure 4. Cross-section for holes REG-22-02-REG-22-07. Both
gold and silver results are shown on the histograms with the best
intersections labelled on the section.
Figure 5. Thick cross-section through both REG-22-01 and
holes REG-22-02-REG-22-07. The large chargeability anomaly is shown
as well as the block model for the Dios Padre silver deposit (NI
43-101 inferred resource of 9.5 million ounces of silver equivalent
with an average silver grade of 236 g/t. ((1.25 million tonnes at a
grade of 236 g/t Ag Eq).
Figure 6. Drill core assay values from REG 22-01 between
459.5 m to 468.5 m.
Table 1: REG-22-01
Weighted composite table for Au, Ag and Cu for highlight
intersection.
|
|
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
Ag
(g/t)
|
Cu
(%)
|
REG-22-01
|
416.5
|
470.3
|
53.8
|
4.7
|
23.9
|
0.67
|
inc.
|
434.5
|
470.3
|
35.8
|
6.84
|
21.81
|
0.88
|
inc.
|
448.7
|
454.7
|
6
|
8.3
|
12.56
|
0.87
|
inc.
|
460.5
|
470.3
|
9.8
|
13.97
|
50.25
|
1.11
|
|
|
1.
|
Au Composites are
calculated using a 0.3 g/t Au cutoff, incorporating no more than 5
m downhole dilution. Higher grade composite sections are calculated
using 1 g/t and 3g/t cutoffs incorporating no more than 5 m
downhole dilution. Ag and Cu composites for these intervals are
snapped to those intervals bearing the strongest Au values, they
represent the average Ag and Cu values within the same stated gold
intervals and do not necessarily conform to the composite rules for
Ag and Cu stated in point 3 below Table 4.
|
Table 2: Weighted Cu
composites for total 2022 drill program for all significant Cu
intersections.
|
|
|
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
Cu
(%)
|
REG-22-01
|
281.5
|
341.5
|
60
|
0.33
|
inc.
|
284.5
|
324.6
|
40.1
|
0.38
|
REG-22-01
|
398.5
|
404.5
|
6
|
0.23
|
REG-22-01
|
416.5
|
468.5
|
52
|
0.69
|
inc.
|
434.5
|
467.5
|
33
|
0.94
|
inc.
|
460.5
|
466.5
|
6
|
1.62
|
Table 3: Weighted Au
composites for total 2022 drill program for all significant Au
intersections.
|
|
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
(g/t)
|
REG-22-01
|
187.95
|
191.5
|
3.55
|
0.36
|
REG-22-01
|
300.7
|
330
|
29.3
|
0.36
|
REG-22-01
|
398.5
|
404.5
|
6
|
0.68
|
REG-22-01
|
416.5
|
470.3
|
53.8
|
4.7
|
inc.
|
434.5
|
470.3
|
35.8
|
6.84
|
inc.
|
448.7
|
454.7
|
6
|
8.3
|
inc.
|
460.5
|
470.3
|
9.8
|
13.97
|
inc.
|
460.5
|
468.5
|
8
|
15.35
|
REG-22-02
|
22
|
43.5
|
21.5
|
0.53
|
inc.
|
37
|
43.5
|
6.5
|
1.1
|
REG-22-02
|
60.5
|
64.7
|
4.2
|
2.1
|
REG-22-03
|
13
|
62.65
|
49.65
|
0.58
|
inc.
|
32.5
|
41.5
|
9
|
1.3
|
inc.
|
53.5
|
57.8
|
4.3
|
1.49
|
REG-22-03
|
73.5
|
83.5
|
10
|
0.57
|
REG-22-04
|
12.5
|
24.2
|
11.7
|
0.23
|
REG-22-04
|
33.5
|
51.4
|
17.9
|
1.34
|
inc.
|
37
|
49.5
|
12.5
|
1.66
|
REG-22-12
|
10
|
28
|
18
|
0.12
|
REG-22-12
|
62.85
|
86.5
|
23.65
|
0.36
|
Table 4: Weighted Ag
composites for total 2022 drill program for all significant Ag
intersections.
|
|
Hole
|
From
(m)
|
To
(m)
|
Length
(m)
|
Ag
(g/t)
|
REG-22-01
|
242.5
|
268.8
|
26.3
|
62.68
|
inc
|
242.5
|
259
|
16.5
|
96
|
inc
|
250.1
|
254.4
|
4.3
|
317.4
|
REG-22-01
|
281.5
|
341.5
|
60
|
19.25
|
inc.
|
281.5
|
293.5
|
12
|
31.01
|
inc.
|
300.7
|
314.5
|
13.8
|
25.88
|
inc.
|
328.5
|
338.5
|
10
|
19.45
|
REG-22-01
|
418.5
|
426.5
|
8
|
60.08
|
REG-22-01
|
434.5
|
452.5
|
18
|
14.35
|
REG-22-01
|
460.5
|
468.5
|
8
|
67.06
|
inc.
|
460.5
|
464.5
|
4
|
105.88
|
REG-22-02
|
17.5
|
32.35
|
14.85
|
23.63
|
REG-22-04
|
48.5
|
60.5
|
12
|
45.01
|
inc.
|
49.5
|
52.05
|
2.55
|
186.37
|
REG-22-05
|
15.1
|
32.6
|
17.5
|
135.07
|
inc.
|
21.1
|
25
|
3.9
|
582.47
|
REG-22-05
|
52.2
|
54.4
|
2.2
|
220.49
|
REG-22-06
|
38.15
|
49.1
|
10.95
|
301.83
|
inc
|
38.15
|
44
|
5.85
|
558.3
|
REG-22-07
|
39.95
|
46
|
6.05
|
335.7
|
REG-22-08
|
96.45
|
115
|
18.55
|
49.61
|
inc.
|
101.5
|
109
|
7.5
|
113.01
|
REG-22-08
|
121.45
|
133
|
11.55
|
30.63
|
REG-22-09
|
99.4
|
102.5
|
3.1
|
420.23
|
REG-22-10
|
112.5
|
134
|
21.5
|
137.37
|
inc.
|
112.5
|
126.6
|
14.1
|
206.3
|
REG-22-11
|
0
|
4
|
4
|
54.31
|
REG-22-11
|
32.5
|
57.8
|
25.3
|
27.56
|
inc.
|
44.5
|
54.1
|
9.6
|
56.43
|
REG-22-11
|
81.5
|
82.5
|
1
|
603
|
REG-22-12
|
10
|
53.5
|
43.5
|
44.39
|
inc.
|
10
|
22
|
12
|
115.55
|
REG-22-12
|
64.1
|
101.5
|
37.4
|
109.98
|
inc.
|
64.1
|
83.75
|
19.65
|
203.38
|
inc.
|
64.1
|
79
|
14.9
|
240.68
|
|
1.
|
Regency Silver is not
yet able to determine true width of the mineralized zones due to
the limited number of intersections at this stage however, all
drill holes were planned to cross known stratigraphy and it is
estimated that zones intersected are somewhere between 50-100% true
thickness. Reported widths are drill indicated core length
and not true width, for the reasons above. Average grades are
calculated with un-capped assays, as insufficient drilling has been
completed to determine capping levels for higher grade gold, silver
and copper intercepts.
|
2.
|
Au Composites are
calculated using a 0.3 g/t Au cutoff, incorporating no more than 5
m downhole dilution. Higher grade composite sections are calculated
using 1 g/t and 3 g/t cutoffs incorporating no more than 5 m
downhole dilution. Ag composites are calculated using a 10 g/t Ag
cutoff, incorporating no more than 5 m downhole dilution. Higher
grade composite sections are calculated using 25 g/t and 50 g/t
cutoffs incorporating no more than 5 m downhole dilution. Cu
composites are calculated using a 0.1% Cu cutoff, incorporating no
more than 5 m downhole dilution. Higher grade composite sections
are calculated using 0.5% Cu and 0.75% Cu cutoffs incorporating no
more than 5 m downhole dilution.
|
QA/QC
Once the drill core was received from the drill site, individual
samples were determined, logged for geological attributes, sawn in
half, labelled, and bagged for assay submittal. The remaining
drill core was then stored at a secure site in the buildings
surrounding the old milling site for the Dios Padre silver mine.
The Company inserted quality control samples at regular intervals
within the sample stream which included blanks, preparation
duplicates, and standard reference materials with all sample
shipments intended to monitor laboratory performance. Sample
shipment was conducted under a chain of custody
procedure.
Drill core samples were submitted to ALS Global's analytical
facility in Hermosillo,
Mexico for preparation and analysis. Sample preparation
included drying and weighing the samples, crushing the entire
sample, and pulverizing 250 grams ("g"). Analysis for
gold was by method Au-AA23: 30g fire assay fusion with atomic
absorption (AAS) finish with a lower limit of 0.005 ppm and upper
limit of 10 ppm. Gold assays greater than 10ppm are automatically
analyzed by method Au-GRA21: 30g fire assay fusion with a
gravimetric fusion. Analysis for silver and base metals was by
method ME-ICP61m: 0.75 g is dissolved via four acid digest and
analyzed with ICP-AES finish. Detection limits for Ag are
0.5-100ppm, 1-10 000ppm for Cu, 2-10 000ppm for Zn and 2-10 000ppm
for Pb. Silver assays greater than 100ppm are automatically
analyzed by method Ag-OG62: 0.4g sample by Ag by HF-HNO3-HClO4
digestion with HCl leach, ICP-AES or AAS finish. Samples with
Ag>1500ppm are automatically analyzed by Ag-GRA21: 30g sample Ag
by fire assay and gravimetric finish. Cu, Pb and Zn >10 000ppm
are automatically analyzed by Cu-OG62, Pb-OG62 and Zn-OG62
respectively: 0.4g sample by Four acid digestion and ICP
finish.
ALS Global is ISO 9001 and ISO/IEC 17025 certified and all
analytical methods include quality control materials at set
frequencies with established data acceptance criteria. Parameters
for ALS' internal and Regency Silver's external blind quality
control samples were acceptable for the analyzes returned.
Technical Information
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 the Company's
new website at www.Regency-Silver.com.
Contact Information
Regency Silver Corp.
Bruce Bragagnolo, Executive
Chairman
Phone: (604) 417-9517
Email: bruce@regency-silver.com
Gijsbert Groenewegen, Chief
Executive Officer
Phone: 1-646-247-1000
Email: gijs@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.
ABOUT REGENCY SILVER CORP.
Regency Silver is a gold-copper-silver 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
gold-copper-silver project in Sonora,
Mexico.
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release
was prepared in accordance with NI 43-101 which differs
significantly from the requirements of the U.S. Securities and
Exchange Commission (the "SEC"). The terms "measured mineral
resource", "indicated mineral resource" and "inferred mineral
resource" used herein are in reference to the mining terms defined
in the Canadian Institute of Mining, Metallurgy and Petroleum
Standards (the "CIM Definition Standards"), which definitions have
been adopted by NI 43-101. Accordingly, information contained
herein providing descriptions of our mineral deposits in accordance
with NI 43-101 may not be comparable to similar information made
public by other U.S. companies subject to the United
States federal securities laws and the rules and regulations
thereunder.
You are cautioned not to assume that any part or all of mineral
resources will ever be converted into reserves. Pursuant to CIM
Definition Standards, "inferred mineral resources" are that part of
a mineral resource for which quantity and grade or quality are
estimated on the basis of limited geological evidence and sampling.
Such geological evidence is sufficient to imply but not verify
geological and grade or quality continuity. An inferred mineral
resource has a lower level of confidence than that applying to an
indicated mineral resource and must not be converted to a mineral
reserve. However, it is reasonably expected that the majority of
inferred mineral resources could be upgraded to indicated mineral
resources with continued exploration. Under Canadian rules,
estimates of inferred mineral resources may not form the basis of
feasibility or pre-feasibility studies, except in rare cases.
Investors are cautioned not to assume that all or any part of an
inferred mineral resource is economically or legally mineable.
Disclosure of "contained ounces" in a resource is permitted
disclosure under Canadian regulations; however, the SEC normally
only permits issuers to report mineralization that does not
constitute "reserves" by SEC standards as in place tonnage and
grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and
NI 43-101, differ significantly from standards in the SEC Industry
Guide 7. Effective February 25, 2019, the SEC adopted new
mining disclosure rules under subpart 1300 of Regulation S-K of the
United States Securities Act of 1933, as amended (the "SEC
Modernization Rules"), with compliance required for the first
fiscal year beginning on or after January 1, 2021. The SEC
Modernization Rules replace the historical property disclosure
requirements included in SEC Industry Guide 7. As a result of the
adoption of the SEC Modernization Rules, the SEC now recognizes
estimates of "measured mineral resources", "indicated mineral
resources" and "inferred mineral resources". Information regarding
mineral resources contained or referenced herein may not be
comparable to similar information made public by companies that
report according to U.S. standards. While the SEC Modernization
Rules are purported to be "substantially similar" to the CIM
Definition Standards, readers are cautioned that there are
differences between the SEC Modernization Rules and the CIM
Definitions Standards. Accordingly, there is no assurance any
mineral resources that the Company may report as "measured mineral
resources", "indicated mineral resources" and "inferred mineral
resources" under NI 43-101 would be the same had the Company
prepared the resource estimates under the standards adopted under
the SEC Modernization Rules.
Cautionary Note Regarding Forward-Looking
Statements: This news release includes certain
forward-looking statements and forward-looking information
(together, "forward-looking statements"). All statements
other than statements of historical fact included in this release,
including, without limitation, statements regarding the optioning
of the Project by the Company. 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 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.
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