John Black, CEO & Director of Regulus Resources (TSXV:REG) (OTCQX:RGLSF), joins us for an introduction to their AntaKori Copper-Gold Project in northern Peru, with the potential for consolidation of surrounding projects in this very prolific mineralized belt. The AntaKori project currently hosts a resource with indicated mineral resources of 250 million tonnes with a grade of 0.48 % Cu, 0.29 g/t Au and 7.5 g/t Ag and inferred mineral resources of 267 million tonnes with a grade of 0.41 % Cu, 0.26 g/t Au, and 7.8 g/t Ag. The AntaKori project is immediately adjacent to the Tantahuatay Mine and mineral concessions owned by Compañía Minera Coimolache S.A. (which is a JV between Buenaventura, Southern Copper and ESPRO).
On July 27th, Regulus Resources announced that it had entered into a collaboration agreement with Coimolache to evaluate the viability of an integrated Coimolache Sulphides/AntaKori copper-gold project. The evaluation will consist of a mineral resource estimate (“MRE”) with the option, upon mutual agreement of the Parties following the completion of a MRE, to complete a preliminary economic assessment (“PEA”). Costs of the evaluation program will be split with Regulus paying 50% and Coimolache paying 50%. The results of the MRE and PEA can only be publicly released upon mutual agreement of the Parties. Additionally, the MRE and PEA results can be shared with third parties upon mutual agreement of the Parties.
We also discussed that there are transactions in place with Gold Fields, where Regulus Resources can earn-in on up to 60% on parcels of land that fill in the gaps on their overall project land package. Then in addition to that, Rio Tinto has a 16% stake in Regulus to test out the application of their Nuton technology, focused on commercializing its proprietary suite of copper leach technologies, with potential to unlock copper from hard-to-leach ore and low-grade material, with industry-leading recoveries. This makes the competing major company interest in this area for the copper and gold compelling for a future consolidation of this district, and the Company is continuing to develop strong community relationships and ongoing engagement to clear the pathway for future development.
If you have any questions for John regarding Regulus Resources, then please email me at Shad@kereport.com.
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