In this interview, FTMIG sits down with John Black, CEO of Regulus Resources, to discuss the company's drill campaign on the northern part of their AntaKori copper-gold project (Anta Norte). Regulus has released assays from the first two holes drilled prior to suspension of the drilling program, so John provides his take on these holes and why they have the team at Regulus excited. We also discuss the company's expectations around when the drilling program at AntaKori might be restarted, with John expecting that the restart will be coming soon.
The initial results so far from the first two holes (AK-20-044 & 045), which were significant step outs from previous drilling, are very promising, and prove that mineralization identified more to the south continues to the north and has not been cut off by a fault. This suggests that there is a significant amount of mineralization not currently included in the company's existing 43-101 resource estimate at AntaKori that could be brought in through further drilling of Anta Norte to allow the company to significantly increase its resources. The latest holes suggest that the best mineralization lies to the east / south-east, right in the area where Regulus controls 100% of the land and north of the conceptual open pit as projected from the 2019 resource estimate.
00:00 - Introduction
00:54 - John's General Thoughts on 2020 and Going Into 2021
05:42 - Discussion on Drilling Suspension / Delays
09:36 - Rationale Behind the Extension of $1.60 Warrants
11:18 - Discussion on First Drill Holes at Anta Norte
19:33 - Geological Structure at Anta Norte
21:44 - The Importance of Zinc as a Pathfinder
24:13 - Did Results Meet Expectations?
26:29 - What is John Most Looking Forward to in 2021
Regulus Resources is a Canadian-based junior exploration company focused on its flagship AntaKori copper-gold project, located in Yanacocha-Hualgayoc mining district in the Department of Cajamarca in northern Peru. The company has an existing NI 43-101 compliant conceptual open pit mineral resource on the AntaKori project from 2019 which projected 250 million tonnes at 0.74% Cu-Eq indicated and 267 million tonnes at 0.66% Cu-Eq inferred. Regulus' AntaKori project is located to the north / north-east of the existing, operating Tantahuatay open pit oxide heap leach mine owned by Compania Minera Coimolache SA (Buenaventura SAA 40% ownership and operator, Southern Peru Copper SAA 44% ownership). Regulus has an information sharing agreement in place with Coimolache which allows the two companies to share information as any potential deposit would combine land from both companies. Regulus reports only their share of the conceptual resource. Regulus has highly prospective land to the north of the AntaKori called Ante Norte that is 100% owned and will be the focus of 2021 drilling. It also has an option to early up to 70% of land to the north-west and north-east through an earn-in agreement with Buenaventura. Notably, in the fall of 2020, Regulus announced a major partnership agreement with Osisko Gold Royalties that saw Regulus receive an up-front cash payment of $12.5M USD and Osisko acquire the right to purchase various royalties affecting land that is 100% owned by Regulus while simultaneously reducing the royalty amount by half.
Regulus Resources currently trades on the Toronto Venture Exchange under the symbol TSX-V: REG, and on the OTCQX marketplace under the symbol OTCQX: RGLSF.
To learn more about Regulus Resources, please visit their website at: https://www.regulusresources.com/
You can also contact Regulus' Investor Relations at the following Email: email@example.com
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Originally filmed on January 12th, 2021