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News Releases

Regulus Reports 819.90 m of 0.53% Cu, 0.24 g/t Au and 7.83 g/t Ag (0.77% CuEq) in Hole AK-19-034; Extending Mineralization Northwards at the AntaKori Copper-Gold Project

September 5, 2019

September 5, 2019, (Vancouver, BC) – Regulus Resources Inc. (“Regulus” or the “Company”, REG TSX.V) is pleased to announce the results from two additional drill holes from its 25,000 m Phase 2 drill program, the aim of which is to expand and infill resources at the Company’s AntaKori copper-gold project in northern Peru. Hole AK-19-034 was successful in expanding the footprint of the AntaKori system to an area that had never been tested previously. As well, Hole AK-19-034 supports the Company’s theory that moving to the north of the property, the bulk of mineralized material contains low arsenic skarn and porphyry hosted mineralization, locally cut by narrow high-sulphidation structures. Hole AK-19-033 was lost at 340.70 m, well before it’s intended target, due to bad ground conditions, and is currently being re-drilled as AK-19-033A. Results for drill holes AK-19-033 and AK-19-034 are reported in Table 1 and Table 2.

Highlights from drill holes AK-19-033 and AK-19-034 – AntaKori Copper-Gold Project:

  • AK-19-034:
    • 819.90 m of 0.53% Cu, 0.24 g/t Au and 7.83 g/t Ag (0.77% CuEq) from 165.25 m
      • Including 80.45 m of 2.47% Cu, 0.78 g/t Au and 10.79 g/t Ag (3.12% CuEq) from 532.60 m (high sulphidation epithermal mineralization overprint)
      • Mineralization hosted dominantly in low-As skarn and porphyry material
    • Hole ended in mineralization, as the last 3.5 metres of drilling returned 0.61% CuEq
    • From 1,010.05 m to a total depth of 1,524.22 m the hole was drilled on claims belonging to the Colquirrumi earn in agreement, representing the first drilling towards the Company earning up to a 70% interest in this ground (see news release of April 3, 2017)

 

  • AK-19-033:
    • 140.40 m of 0.39% Cu, 0.30 g/t Au and 10.35 g/t Ag (0.69% CuEq) from 200.30 m
      • Including 57.90 m of 0.46% Cu, 0.47 g/t Au and 11.16 g/t Ag (0.89% CuEq) from 228.10 m

 

John Black, Chief Executive Officer of Regulus, commented as follows: “Hole AK-19-034 represents a milestone for Regulus as it is our first attempt to drill the prominent magnetic high geophysical target to the north of our previous drilling. Not only is this one of the best holes we’ve drilled to date at AntaKori, but the results support our theory that as we move to the north, we’re moving toward cleaner mineralization, which opens a lot of new possibilities for this project. Approximately 80% of the reported 819.90 m interval of mineralization in Hole AK-19-034 is hosted in low As skarn or porphyry material. As well, Hole 34 is still only testing the southern margin of the magnetic high target and we look forward to testing the stronger portion of the anomaly to the north when pending permit applications are approved in the next few months to allow us to move our drilling in that direction. This hole also includes the first drill meterage that applies to the earn in of up to a 70% interest in the Colquirrumi concessions to the north of our existing claims.”

 

Dr. Kevin B. Heather, Chief Geological Officer of Regulus, commented as follows: “The significance of this strongly mineralized interval in a frontier area is obvious, however the lower portion of the drill hole is equally exciting from an exploration perspective, despite the lower grades of mineralization encountered. When you consider that the lower half of the hole intercepted several long runs of 0.3-0.4% CuEq in what are typically very unfavourable quartzite and arkose host rocks associated with numerous generations of porphyry intrusive dykes, this strongly indicates that we are potentially on the flanks of a larger porphyry centre. Finally, Hole 34 is a milestone hole in terms of not only adding an additional piece to the puzzle and supporting our original geological hypothesis, but it also opens up a new, large under-explored area for future resource expansion.”


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