Regulus Resources Inc. (TSX V.REG) is a Canadian exploration company formed in December 2010 under the directorship of the former management of Antares Minerals Inc. (TSX V.ANM): John E. Black, Dr. Kevin B. Heather and Mark Wayne. Regulus was created through the spin-out of the Rio Grande Cu-Au project in Argentina at the conclusion of the sale of Antares to First Quantum Minerals (TSX.FM, UK FQM) for approximately C$650 million, primarily for the giant Haquira Cu-Mo-Au deposit in Peru.
Regulus’ focus is on the AntaKori project in Northern Peru where it drilled continuously throughout 2018. The Phase I drilling program (20,332 m through to hole AK-18-027) was completed by October 2018 and was utilized to calculate the updated Resource Estimate reported on 1 March, 2019 (see news here). Upon conclusion of the Phase I drilling program, the Company entered directly into the Phase 2 drilling program.
Regulus also spun out its Rio Grande project, Aguas Calientes project and its other Argentina assets forming a new exploration company, Aldebaran Resources Inc. (TSX V.ALDE) in October 2018.
|Route One Investment Company 23.62%|
|First Quantum Minerals, Sentry, Primevest with significant positions|
Following Antares’ successful monetization of the Haquira asset in Peru and the merger with Pachamama, Regulus maintains significant strategic alliances with Farallon Capital (San Francisco), the International Finance Corporation (IFC: member of the World Bank, Washington DC) and First Quantum Minerals Ltd, which collectively hold an aggregate 24% of the shares of Regulus.
Company Focus Strategy
|Achieved by end of 2018||2019||By 2020|
|Completed Phase 1 23,000+m drill program at the AntaKori Cu-Au project in Peru, doubling previous drilling meterage to allow basis for revised resource estimate in early 2019.||Published updated Resource Estimate for AntaKori 1 March 2019 (see here). Regulus will continue drilling to work towards definition of the full size of the mineralized system.||Continue to aggressively drill out the AntaKori Cu-Au deposit leading to a revised resource update and probable PEA in early 2020 that will begin to reveal the full extent and potential value of the mineralization.|