VANCOUVER, BC, Feb. 23,
2023 /CNW/ - Regency Silver Corp.
("Regency Silver" or the "Company", (TSXV: RSMX) and (OTCQB: RSMXF)
is pleased to announce that 2 follow up holes down-dip from hole
REG -22-01 intersect sulphide-specularite supported breccia similar
in nature to the breccia hosting Au-Cu-Ag mineralization in
REG-22-01. REG-22-01 yielded 35.8 metres
of 6.84 g/t gold, 0.88% copper
and 21.82 g/t silver along with 13.97 g/t
Au, 50.25 g/t Ag and 1.11 % Cu over 9.8 m.
The follow up drill program began on January 15th 2023. Three holes have
been completed to date totaling 1,974m of drilling. The location of the drill
holes can be seen on the plan map in Figure 1. Hole 4 of the
program is currently underway attempting to find continuity of the
breccia 50m to the west. Highlights
of the program so far include:
- REG-23-14 intersects 32m
of pyrite-specularite-chalcopyrite supported breccia from
~454-486m (Figure 2a,b) within a
broader zone of disseminated and vein hosted mineralization ~25m
down dip from REG-22-01.
- REG-23-15 intersects 120m
of specularite-pyrite-chalcopyrite supported breccia from
~400-520m (Figure 3a,b,c,d and e)
within a broader zone of disseminated and vein hosted
mineralization ~85m down-dip from REG-22-01 and ~62m down-dip from
REG-23-14.
Close up photos of stronger sections of mineralization are shown
in Figures 4 and 5. For comparative purposes, the visual results
from REG-22-01 with assays labelled can be found in Figure 6. We
currently do not have analytical results for the intervals from the
2023 drill program, so caution is warranted in comparing the
potential assay quality of these intersections to REG-22-01.
However, in terms of geology, alteration, mineral species and
abundance, the zones appear to compare favorably.
REG-23-13 drilled ~ 67m up dip
from REG-22-01 did not intersect the same breccia body found in the
other 3 holes. The geology and alteration in the area of the
projected up-dip extension of the zone does however, appear to
remain consistent. The area also has localized pyrite, specularite
and chalcopyrite, but the significance of these zones cannot be
determined at this time.
The location of the holes relative to REG-22-01 can be found on
the cross-section in Figure 7. Our geologic understanding of the
area and the controls on mineralization continues to evolve.
Re-evaluation of REG-22-01 identified a previously unrecognized
feldspar-megacrystic quartz-feldspar porphyry intrusion that sits
stratigraphically above the mineralization in REG-22-01. This
intrusion is found in both holes REG-23-14 and REG-23-15 with a
potentially narrower, finer grained variant being identified in
REG-23-13. Our current hypothesis is that this unit plays a
significant role in the location and distribution of
mineralization. Being able to identify this unit going forward is
an extremely valuable tool in vectoring towards additional zones of
mineralization. Further, the distribution of the porphyry and the
mineralized breccia zones confirm our hypothesis that mineralized
zones dip shallowly to the north with the width of the breccia zone
also appearing to increase with depth. Of interest as well is that
we are seeing a variance in mineral assemblages as we continue to
depth. Breccias in REG-22-01 and REG-23-14 are dominantly
pyrite>specularite>chalcopyrite however, the broader zone of
breccia in REG-23-15 is distinctly
specularite>pyrite>chalcopyrite. Alteration remains
consistent within the zones being dominantly silica and white
mica.
"The first three holes can only be described as a success. We
now know that the breccia continues to depth and appears to be of
similar quality to what we had in REG-22-01. Our geologic
understanding has increased significantly and our ability to target
effectively in further step outs will only improve going forward" –
Michael Tucker – Director and Lead
Geologist.
Update on IP program
The IP program over Dios Padre is ~75% complete. We anticipate
the full results of the program with interpretation before the end
of March.
Technical Information
The technical information contained in this news release has
been reviewed by Company director Michael
Tucker, P.Geo, who is recognized as a Qualified Person under
the guidelines of National Instrument 43-101. Mr. Tucker is a
director of the Company and for that reason is not considered
independent. Mr. Tucker has read and approved the technical
contents of this news release.
ABOUT REGENCY SILVER CORP.
Regency Silver is a gold-copper-silver exploration company
focused on the Americas. Regency Silver is led by a team of
experienced professionals with expertise in both exploration and
production. Regency Silver's flagship project is the Dios Padre
gold-copper-silver project in Sonora,
Mexico.
Contact Information
Regency Silver Corp.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Note Regarding Forward-Looking
Statements: This news release includes certain
forward-looking statements and forward-looking information
(together, "forward-looking statements"). All statements
other than statements of historical fact included in this release,
including, without limitation, statements regarding the Dios Padre
Project by the Company. There can be no assurance that such
statements will prove to be accurate and actual results and future
events may vary from those anticipated in such statements.
Important risk factors that could cause actual results to differ
materially from the Company's plans or expectations include the
risk that regulatory changes, fundraising, and risk associated with
mineral exploration, including the risk that actual results of
exploration will be different from those expected by
management. The forward-looking statements in this news
release were developed based on the expectations of management that
conditions will be satisfied, required fundraising will be
completed and the other risks described above will not
materialize. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise,
except as otherwise required by applicable securities
legislation.
SOURCE Regency Silver Corp