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Regulus Resources Announces Agreements for Collaborative Exploration at Antakori Copper-Gold Project, Peru
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 18, 2016) - Regulus Resources Inc. ("Regulus") (TSX VENTURE:REG) is pleased to announce that its wholly owned Pe
About this update from Regulus Resources Inc
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 18, 2016) - Regulus Resources Inc. (\"Regulus\") (TSX VENTURE:REG) is pleased to announce that its wholly owned Peruvian subsidiary, Southern Legacy Peru S.A.C. (\"SLP-Regulus\"), has entered into binding Memorandum of Understanding (\"MOU\") agreements with Compañía Minera Coimolache S.A. (\"Coimolache\") and Compañía Minera Colquirrumi S.A. (\"Colquirrumi\"), companies that hold mineral concessions immediately adjacent to, and inter-fingering with, the SLP-Regulus AntaKori copper-gold project in northern Peru. These agreements will allow for mutual access, mutual rights of expansion and collaborative exploration of the project area, providing benefit to all three parties. John Black, Chief Executive Officer of Regulus, commented as follows: \"When we acquired the AntaKori copper-gold project by means of the amalgamation with Southern Legacy Peru, we knew we were on to an exceptionally good opportunity to define a major new copper-gold discovery. However, we were faced with a significant challenge due to the fragmented pattern of mining concession ownership. We are very excited that these agreements will now set the stage for collaborative exploration for the first time in the long history of the project area. All three parties will remain autonomous but will be able to work together to better determine the full extent and economic importance of copper-gold mineralization that is already extensive but has been only partially defined to date. Over the next several weeks our technical and community relations teams will be sitting down with their counterparts from Coimolache and Colquirrumi to develop exploration plans for the upcoming field season. A significant benefit of the agreements is that we will be able to present a more comprehensive and complete project plan to the local communities and very likely advance the exploration activities more quickly, with drilling likely to commence before the end of this year.\" Coimolache MOU Agreement Compañía Minera Coimolache S.A. (\"Coimolache\") is a mining company that owns and operates the Tantahuatay gold-silver mine immediately adjacent to the southern margin of the SLP-Regulus AntaKori project (Figure 1). The principal shareholders of Coimolache are Compañía de Minas Buenaventura S.A.A. (\"Buenaventura\" - 40% and operator) an...