Corporate Fact Sheet
Adding Value Through Continued Discovery
Regulus Resources Inc. (TSX V.REG) is a well-funded Canadian exploration company lead by the former management of Antares Minerals Inc.; John Black, Kevin B. Heather and Mark Wayne. Regulus was created through the spin-out of the Rio Grande Cu-Au project in Argentina from Antares Minerals during the sale of Antares and the giant Haquira Cu-Mo-Au deposit in Peru to First Quantum Minerals (TSX.FM, UK FQM) in 2010 for approximately C$650 million. Regulus subsequently acquired a new flagship project, the AntaKori Cu-Au-Ag project in northern Peru, by means of a friendly merger with Southern Legacy Minerals and is well positioned to repeat the previous success of Antares Minerals.
Regulus Resources Inc. recently announced the spin-out of their Argentina assets into a new company, Aldebaran Resources, with an option to acquire up to an 80% interest in Peregrine Metals Ltd., a wholly-owned subsidiary of SibanyeStillwater, that owns the Altar Cu-Au
project in Argentina.
Regulus shareholders to receive one post-consolidated share of Aldebaran for every three Regulus shares held at nominal value of approximately C$0.40/original Regulus share. Plan of arrangement projected to close by end of October, 2018.
Reported resources for the Rio Grande and AntaKori projects are summarized below:
| Resource Category | Tonnes Millions | Au (g/t) |
Cu (%) |
Ag (g/t) |
Au (M ozs) |
Cu (B lbs) |
Ag (M ozs) |
Au EQ (M ozs) |
Cu EQ (B lbs) |
|---|---|---|---|---|---|---|---|---|---|
| AntaKori Cu-Au-Ag | |||||||||
| Inferred | 294.8 | 0.36 | 0.48 | 10.20 | 3.40 | 3.10 | 93.30 | 12.81 | 5.10 |
| Rio Grande Cu-Au | |||||||||
| Indicated | 55.3 | 0.36 | 0.34 | 4.40 | 0.64 | 0.40 | 7.80 | 1.81 | 0.70 |
| Inferred | 101.1 | 0.31 | 0.30 | 4.40 | 1.00 | 0.70 | 14.40 | 2.93 | 1.20 |
Au EQ and Cu EQ were calculated using the following metal prices: Au = US$ 1200 /oz, Cu = US$ 3.00 /lb, Ag = US$ 20 / oz
Key Results and Catalysts for 2018 Toward Updated Resource Estimate
- Collaborative Agreements in Place with Neighboring Mines—Access to Larger Area
- 2 0,000+m drilling program in progress at AntaKori – 2-3 rigs currently drilling.
Mineralization is high sulphidation epithermal Cu-Au-Ag-As sulphides with
underlying Cu-Au-Ag (low As) sulphide mineralization in skarn and breccia
First 19 Regulus 12 drill holes at AntaKori have reported following highlights:
184 m with 1.54% copper and 1.05 g/t gold in initial Regulus drill hole
Subsequent holes include multiple strongly mineralized intercepts including:
-
- Interval of 524 m with 0.65% copper, 0.47 g/t gold, 7.9 g/t silver
- Interval of 327 m with 0.91% copper, 0.44 g/t gold, 9.8 g/t silver
Recently reported best holes to date including:
-
- AK-18-014 – 714 m with 0.68% Cu, 0.38 g/t Au and 7.6 g/t Ag (1.02% CuEQ)
- AK-18-015 – 396 m with 0.59% Cu, 0.46 g/t Au and 14.7 g/t Ag (1.05% CuEQ)
- AK-18-016 – 137 m with 2.50% Cu, 1.62 g/t Au and 10.6 g/t Ag (3.75% CuEQ)
- Drilling continues with target for presentation of revised 43-101 mineral resource estimate by early Q1 2019