Regulus Intersects 184 M with 1.54% Copper, 1.05 G/T GOLD and 11.9 G/T Silver IN First Drill Hole at Antakori Project, PERU
REGULUS INTERSECTS 184 M WITH 1.54% COPPER, 1.05 G/T GOLD AND
11.9 G/T SILVER IN FIRST DRILL HOLE AT ANTAKORI PROJECT, PERU
August 15, 2017, (Vancouver, BC) – Regulus Resources Inc. ("Reg ulus" or the "Company", REG TSX.V) is
pleased to announce the results for drill hole AK-17-001, the f irst drill hole of the 15-18,000m 2017 drilling
campaign at the Company’s AntaKori copper-gold-silver project i n northern Peru. The drilling campaign is
underway in collaboration with Compañía Minera Coimolache, the operator of the Tantahuatay gold mine,
immediately to the south of the AntaKori project (please refer to news releases of January 24th and April 25th, 2017).
The AntaKori system hosts two principal styles of copper-gold-s ilver sulphide mineralization; 1) skarn and breccias
within Cretaceous calcareous sed imentary rocks, likely associat ed with as-yet undiscovered porphyry
mineralization; and 2) younger, epithermal high-sulphidation mi neralization in overlying Miocene volcanic rocks
and breccias that host the adjacen t Tantahuatay heap-leach gold mine to the south. The younger high-sulphidation
mineralization locally overprints the earlier skarn mineralizat ion, particularly along the southern extent of the
AntaKori system. Drilling has commenced on the southernmost margin of the Regulus concessions and will proceed
to the north over the next few months as permitting allows (see Figure 1). The initial holes will encounter the
overlying Miocene volcanic rocks and high-sulphidation style mi neralization prior to entering into the Cretaceous
sedimentary sequence and skarn at depth. As the drilling progr esses to the north, the volcanic rocks terminate and
drill holes will commence directly in the skarn/porphyry environment within the Cretaceous sedimentary sequence.
Drill hole AK-17-001 cut significant high-sulphidation epitherm al pyrite-enargite miner alization in the Miocene
volcanic sequence but was lost at a depth of 540.9 m prior to t esting the lower skarn target (see Figure 2). AK-17-
002, the second hole of the program, has been completed to a to tal depth of 893.5 m, cutting both styles of
mineralization, with well-developed skarn in the Cretaceous cal careous sedimentary sequence. Assays are pending
for AK-17-002 and will be reporte d when they are received in th e next few weeks. AK-17-003 is in progress and is
also designed to intercept both styles of mineralization (see Figure 1 for drill hole locations).
All of these initial drill holes are located to the south and o utside of the currently rep orted 43-101 resource (see
Southern Legacy news release of July 3, 2012; Wilson, 2012); wh ich is very encouraging in terms of potentially
adding additional tonnage to the AntaKori mineralized system.
Highlights from drill hole AK-17-001 – first hole by Regulus at the AntaKori Project:
183.9 metres with 1.54% Cu, 1.05 g/t Au and 11.9 g/t Ag from 250 metres depth, including
o 110.7 metres with 2.34% Cu, 1.63 g/t Au and 17.9 g/t Ag from 289.9 m depth, including
o 22.9 metres with 3.2% Cu, 6.09 g/t Au and 49.9 g/t Ag from 361.5 m depth; and
46.7 metres with 0.64% Cu, 0.13 g/t Au and 3.1 g/t Ag from 137.7 metres depth
Mineralization style is high-sulp hidation epithermal with pyrit e-enargite hosted within Miocene
volcanic rocks and breccias
John Black, Chief Executive Offi cer of Regulus, commented as fo llows: “The results from our first drill hole
have confirmed our expectations that the AntaKori system hosts significant zones of higher grade copper-gold-silver
mineralization. Drill intercepts with >100 metres of >1% Cu are a good benchmark to denote the presence of
higher grade copper mineralization. In this first drill hole we clearly exceeded this criteria and also encountered Au
grades >1g/t Au in the same intercept. Although AK-17-001 was lost prior to intercepting the lower skarn target,
our second drill hole (AK-17-002) has been completed to a ta rgeted depth of nearly 900 m and has intercepted the
skarn target. We look forward to reporting results from this second hole as they become available in the next few
weeks.
Drilling has been slower than anticipated due to both challenging ground conditions and technical issues with
drilling equipment. We are taking steps to resolve these issues and anticipate that a second and third rig will
commence drilling in September to October to allow us to pick up the pace of the program.”
Discussion of results and update on drilling program
The following table provides more detail regarding the mineralized intercepts encountered in drill hole AK-17-001.
Drill hole
ID
From
(m)
To
(m)
Length
(m)
Copper
%
Gold
g/t
Silver
g/t
Cu Eq
%
Au Eq
g/t
Zinc
%
AK‐17‐001 137.70 184.40 46.70 0.64 0.13 3.1 0.76 1.07
including 177.00 184.40 7.40 1.52 0.24 7.3 1.76 2.46
and 250.00 433.90 183.90 1.54 1.05 11.9 2.40 3.36
including 289.90 400.62 110.72 2.34 1.63 17.9 3.67 5.14
including 361.50 384.40 22.90 3. 2 6.09 49.9 9.08 12.72 2.42
including 361.50 369.45 7.95 6. 93 3.34 48.9 9.76 13.68 0.10
including 369.45 384.40 14.95 1. 22 7.56 50.30 8.70 12.18 3.64
Table 1. AK-17-001 results. Cu Eq and Au Eq values were calculated using copper, gold, silv er and zinc (for intervals
where zinc exceeds 1%). Metal prices utilized for the calculat ions are Cu – US$2.25/lb, Au – US$1,100/oz, Ag – US$14/oz, and
Zn – US$1.00/lb. All intervals presented above consist of sulphide mineralization. No adjustments were made for recovery as the
project is an early stage exploration project and metallurgical data to allow for estimation of recoveries is not yet availabl e. The
formulas utilized to calculate equivalent values are Cu Eq (%) = Cu% + (Au g/t * 0.7150) + (Ag g/t * 0.0091) + (Zn % * 0.4444
(if Zn >1.0%)) and Au Eq (g/t) = Au g/t + (Cu% * 1.4026) + (Ag g/t * 0.0127) + (Zn% * 0.6234 (if Zn >1.0%)).
Drill hole AK-17-001 was collared along the southern margin of the Regulus concession block and drilled at a -70
degree angle to the northeast (045 degree azimuth) into Regulus ground (see Figure 1 for location). The initial drill
holes of the 2017 drilling campaign are located in similar posi tions along the southern margin of the Regulus
concession block. As additional drill permits are received in t he next few months, the drilling will progress to the
north, towards the area of known mineralization based upon previous drilling.
AK-17-001 cut Miocene volcanic rocks and breccias to a total de pth of 540.9 m where the hole was lost due to
technical difficulties prior to entering into underlying Cretac eous sedimentary rocks and the skarn target area. The
Miocene volcanic rocks and br eccias host strong advanced argill ic alteration and associated high-sulphidation
epithermal pyrite-enargite mineralization which has been oxidiz ed to iron oxides to a depth of approximately 76 m.
Pyrite-enargite mineralization occurs as irregular to semi-massive veins and veinlets, as well as disseminations, void
fillings and locally as clasts within post-mineral breccias. Th e mineralization style is not a typical high-sulphidation
vein but more of a pervasively altered and replaced zone of min eralization within permeab le volcanic rocks. The
true widths of the mineralized intervals reported in Table 1 ar e difficult to ascertain and additional drilling will be
required to constrain the geometry of the mineralized zones. Mi nor other copper sulphide and copper sulphosalt
minerals are also present. The predominance of enargite and in places orpiment results in high As contents within
the mineralized intervals.
Within longer runs of copper-gold mineralization there are shor ter runs of notably higher grade as evident from the
23.9 m interval from 361.5-384.4 m depth with 3.2% Cu, 6.09 g/t Au and 49.9 g/t Ag. This zone contains semi-
massive pyrite-enargite mineralization both as void fillings and fragments within a breccia. A portion of this higher-
grade zone also contains significant zinc mineralization with t he 14.95 m interval from 369.45-384.40 averaging
1.22% Cu, 7.56 g/t Au, 50.3 g/t Ag and 3.64% Zn. This zinc-gol d rich zone is coincident with the presence of
orpiment but is otherwise similar in nature to the other minera lized zones in the drill hole. More detailed
mineralogical petrographic work is planned for this interval to confirm the zinc-bearing mineral phase.
AK-17-002, the second hole of the program has been completed to a total depth of 893.5 m and a third drill hole is
in progress (see Figure 1 for locations). In addition to the t hree Regulus holes, three additional holes have been
completed by Compañía Minera Coimolache that cross into Regulus concessions, with the lower portions of two of
these holes cutting skarn developed in the Cretaceous sedimenta ry sequence. The portions of these holes that occur
within Regulus concessions will be reported by Regulus when all data has been received in the next few weeks (see
holes DHSF17-160, 161, and 164 on Figure 1).
Sampling and Analytical Procedures
Regulus follows systematic and rigorous sampling and analytical protocols which meet and exceed industry
standards. These protocols are summarized on the Regulus website at www.regulusresources.com.
For Further Information, please contact:
Regulus Resources Inc.
John E. Black, CEO / Director
Phone: +1 303 618-7797 mobile
+1 720 514-9036 office
Email: [email protected]
About Regulus Resources Inc. and the AntaKori Project
Regulus Resources Inc. is an international mineral exploration company run by an expe rienced technical and
management team, with a portfolio of precious and base metal ex ploration properties located in North and South
America. The principal project held by Regulus is the AntaKori copper-gold-silver project in N. Peru. The AntaKori
project currently hosts an inferred resource of 294.8 million t onnes with a grade of 0.48% Cu, 0.36 g/t Au and 10.2
g/t Ag based upon 17,950 m of drilling by previous operators (see Southern Legacy Minerals press release of July 3,
2012 - Southern Legacy Minerals and the Company entered into a business arrangement in 2014 and kept the name
Regulus Resources Inc.). Mineralization remains open in most di rections and drilling is c urrently underway to
confirm and increase the size of the resource.
For further information on Regulus Resources Inc., please consult our website at www.regulusresources.com
Qualified Person
The scientific and technical data contained in this news release pertaining to the AntaKori project has been reviewed
and approved by John E. Black, (Member AusIMM), Regulus’ CEO, w ho serves as the qualified person (QP) under
the definitions of National Instrument 43-101.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain statements regarding Regulus, including management's assessment of future plans and operations, may
constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown
risks and uncertainties, most of which are beyond Regulus' control. Often, but not always, forward-looking
statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or
"believes" or variations of such word s and phrases or statements that certa in actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all st atements included in this press release that address activities, events or
developments that Regulus expects or anticipates will or may occur in the future, including the proposed exploration
and development of the AntaKo ri project described herein, the completi on of the anticipated drilling program, the
completion of an updated NI 43-101 compliant resource estimate and management's assessment of future plans and
operations and statements with respect to the completion of the anticipated exploration and development programs,
may constitute forward-looking statements under applicable securities laws and necessarily involve known and
unknown risks and uncertainties, most of which are beyond Regulus' control. These risks may cause actual financial
and operating results, performance, levels of activity and achievements to differ materially from those expressed in,
or implied by, such forward-looking statements. Althou gh Regulus believes that the expectations represented in
such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be
correct. The forward looking statements contained in this press release are made as of the date hereof and Regulus
does not undertake any obligation to publicly update or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise, unless so required by applicable securities law.
Figure 1. Drill hole locations – AntaKori Project.
Figure 2. Schematic geologic cross section indicating projected location of AK-17-001.