VANCOUVER, BC, Dec. 14,
2022 /CNW/ - Regency Silver Corp. ("Regency
Silver" or the "Company") (TSXV: RSMX) (OTCQB: RSMXF) is pleased to
announce that it has arranged, subject to regulatory approval, a
private placement of 10,000,000 common shares at a price of
$0.20 per share for net proceeds of
CAD$2,000,000. Closing of the
non-brokered private placement is anticipated to take place on or
before December 16.
There are no commissions or finders fees payable.
The proceeds will be used for work programs on the properties of
Regency Silver including drilling and geophysics in early 2023 on
our flagship Dios Padre property, for property payments on other
properties of the Company and for general working capital.
Regency anticipates drilling a minimum 2,500 metres as an
initial follow up to the successful drilling program completed in
August, 2022. Regency's first drill program, post IPO, included
hole REG-22-01 which yielded an intercept of 4.7 g/t
gold, 0.67% copper and 23 g/t silver over 53.8
metres, and 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 gold, 50.25 g/t silver and 1.11 % copper
over 9.8 metres starting at 460.5m down hole. Drilling will focus on
expanding this intersection both up and down dip as well as along
strike to the east and west as the intersected mineralization is
unconstrained in all directions.
The drill program is scheduled to commence in early January 2023. An additional Induced Polarization
survey is also planned for early 2023.
For further details about Regency Silver please visit the
Company's website at www.Regency-Silver.com.
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.
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.
SOURCE Regency Silver Corp