Regulus Signs Collaboration Agreement with Compania Minera Coimolache S.A. to Evaluate the Integrated Coimolache Sulphides/AntaKori Copper-Gold Project

About this update from Regulus Resources Inc

Regulus Signs Collaboration Agreement with Compania Minera Coimolache S.A. to Evaluate the Integrated Coimolache Sulphides/AntaKori Copper-Gold ProjectVANCOUVER, BC / ACCESSWIRE / July 29, 2024 / Regulus Resources Inc. ("Regulus" or the "Company") (TSXV:REG)(OTCQX:RGLSF) is pleased to announce that it has entered into a collaboration agreement with Compañía Minera Coimolache S.A. ("Coimolache", collectively with Regulus the "Parties") to evaluate the viability of an integrated Coimolache Sulphides/AntaKori copper-gold project ("Integrated Sulphide 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.John Black, Chief Executive Officer of Regulus, commented: "The execution of this agreement is a big step towards evaluating the true potential of the integrated Coimolache Sulphides/AntaKori copper-gold project. This agreement allows, for the first time, the unconstrained evaluation of the potential of the Integrated Sulphide Project, while also providing a pathway to completing a PEA. We look forward to working with Coimolache to unlock value for all stakeholders of the Integrated Sulphide Project."The AntaKori ProjectThe AntaKori project, located in Cajamarca, Peru, 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. (see Table 1). The AntaKori project is immediately adjacent to and interfingered with mineral concessions owned by Coimolache (see Figure 1). The last mineral resource estimate on the AntaKori project was completed under a now-expired agreement with Coimolache whereby Regulus could use a portion (but not all) of the Coimolache drill database to develop a partially integrated resource estimate, but only report resources from the AntaKori claims. A total of 71,762.04 m of drilling (hi...

View stock analysis, news, and events for Regulus Resources Inc