Regency Silver drills 6.32 g/t gold over 29.4 metres at Dios Padre, Mexico
Regency Silver Corp. [RSMX-TSXV; RSMXF-OTCQB] provided an update on drilling at the Dios Padre project, Sonora State, Mexico. Two follow-up holes down dip from hole REG-22-01 (35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver) intersect wide zones of gold and copper mineralization.
REG-23-14 intersected 35.9 metres of 5.51 g/t gold, including 29.4 metres of 6.32 g/t gold ~25 metres down-dip from REG-22-01. REG-23-15, which is ~65 metres down-dip from REG-23-14 and ~90 metres down-dip from REG-22-01 intersected 128.35 metres of 0.84 g/t gold, including 57.95 metres of 1.49 g/t gold and 32.5 metres of 2.23 g/t gold.
“In addition to the drill results, the IP survey has outlined a ~1,000-metre long by ~900-metre wide km wide anomaly of highly chargeable rock. All indications are that we are drilling into a large system,” stated Bruce Bragagnolo, Executive Chairman.
The ongoing follow up drill program began on January 15. Seven holes have been completed to date totaling 4,250.85 metres of drilling. Six of the seven holes successfully intersect the target pyrite +/- specularite +/- chalcopyrite supported breccia zone that hosts Au-Cu mineralization. The location of the drill holes can be seen on the plan map in Figure 1. The eighth hole of the program, REG-23-20 is currently drilling and targeting ~50m down dip from REG-23-19 on the section line 50m to the east of holes REG-22-01 and REG-23-13-15. The drilling is being funded by the proceeds of our recently completed $2.5 million private placement and the exercise of broker warrants and drilling is expected to continue at Dios Padre for the foreseeable future.
Highlights: REG-23-14 intersected 35.9m of 5.51 g/t Au including 29.4m of 6.32 g/t Au starting at 454.4m downhole. REG-23-14 intersected 95.5m of 0.2% Cu including 7.05m of 0.51% Cu from 314.9m downhole and 34.35m of 0.42% Cu, including 12.05m of 0.98% Cu from 454.4m downhole.
REG-23-15 intersected 128.35m of 0.84 g/t Au from 390.85 downhole, including 57.95m of 1.49 g/t Au and 32.5m of 2.23 g/t Au from 460.85m downhole. REG-23-15 intersected 73.85m of 0.11% Cu from 317m downhole and 25.4m of 0.43% Cu, including 16.25m of 0.53% Cu from 407.9m downhole.
As the true, three-dimensional orientation of the mineralized zones are not yet fully known, true thickness of these intervals remains uncertain; however, it is estimated that the intervals are somewhere between 70-100% of true thickness since drilling is currently near perpendicular to the orientation of stratigraphy with mineralization appearing to loosely follow stratigraphy at this stage of exploration.
“The program at Dios Padre is shaping up in line with our elevated expectations. Intersecting extensions of the same zone in six of seven holes so far is allowing us to refine our model. The system is clearly multi-stage with localized zones of high-grade Au-Cu mineralization. With more data and the integration of the geophysics we will be able to refine our targeting and vector in on the highest-grade portions of what is shaping up to be an extensive breccia system,” said Michael Tucker, Director and Lead Geologist.