Regulus Intersects 523.9 Metres with 0.65% Cu, 0.47 G/T Au and 7.9 G/T AG at Antakori Project, PERU Including 91.55 Metres with 1.01% Cu, 1.56 G/T Au and 16.06 G/T AG
REGULUS INTERSECTS 523.9 METRES WITH 0.65% CU, 0.47 G/T AU
AND 7.9 G/T AG AT ANTAKORI PROJECT, PERU
INCLUDING 91.55 METRES WITH 1.01% CU, 1.56 G/T AU AND 16.06 G/T AG
September 25, 2017, (Vancouver, BC) – Regulus Resources Inc. ("Regulus" or the "Company", REG TSX.V)
is pleased to announce the results from two additional drill holes at the Company’s AntaKori copper-gold-silver
project in northern Peru. The drilling campaign is underway in collaboration with Compañía Minera Coimolache
S.A. (“Coimolache” or “CMC”), the operator of the Tantahuatay gold mine, immediately to the south of the
AntaKori project (please refer to Regulus news releases of January 24th and April 5th, 2017). Holes reported in this
news release are AK-17-002, drilled by Regulus and DHSF17-160, drilled by Coimolache. The two companies are
drilling simultaneously hence two numbering sequences for drill holes exist. Results are only reported herein for the
portions of the drill holes that occur within Regulus concessions.
The AntaKori system hosts two principal styles of copper-gold-silver sulphide mineralization: 1) skarn and breccias
within Cretaceous calcareous sedimentary rocks, likely associated with as-yet undiscovered porphyry
mineralization; and 2) younger, epithermal high-sulphidation mineralization in overlying Miocene volcanic rocks
and breccias that host the adjacent Tantahuatay heap-leach gold mine to the south. The younger high-sulphidation
mineralization locally overprints the earlier skarn mineralization, particular ly along the southern part 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 mineralization prior to entering into the Cretaceous
sedimentary sequence and skarn at depth. As the drilling progresses to the north, the volcanic rocks terminate and
drill holes will commence directly in the skarn/porphyry environment within the Cretaceous sedimentary sequence.
AK-17-002 (893.5m) and DHSF17-160 (748.2m) were completed to targeted depths and cut both styles of
mineralization, with well-developed skarn in the underlying Cretaceous calcareous sedimentary sequence. The more
significant results from these two holes are listed below with additional details provided in Tables 1 and 2.
Highlights from drill holes AK-17-002 and DHSF17-160 – AntaKori Project:
• DHSF17-160: 523.9 m with 0.65% Cu, 0.47 g/t Au and 7.93 g/t Ag from 204.5 m depth
o including 308 m with 0.79% Cu, 0.71 g/t Au and 10.80 g/t Ag
§ including 91.55 m with 1.01 % Cu, 1.56 g/t Au and 16.06 g/t Ag
• AK-17-002: 328.05 m with 0.42% Cu, 0.22 g/t Au and 8.63 g/t Ag from 171.65 m depth
o including 122.5 m with 0.67% Cu, 0.38 g/t Au and 13.82 g/t Ag
These initial drill holes are located to the south and outside of the currently reported AntaKori NI 43-101 resource
(see Southern Legacy news release of July 3 rd, 2012; Wilson, 2012); which is very encouraging in terms of
potentially adding additional tonnage to the AntaKori mineralized system.
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John Black, Chief Executive Officer of Regulus, commented as follows: “We are excited to begin reporting
results from longer drill holes that test both the upper volcanic hosted high sulphidation mineralization as well as
the underlying skarn mineralization in the Cretaceous sedimentary host rocks. The results from drill hole DHSF17-
160 are particularly encouraging with strong mineralization in a hole that is located 220 m from previously
reported drill hole AK-17-001 in an area with limited previous drilling on Regulus concessions. These are the first
skarn intercepts reported by Regulus from this drilling campaign and they bode well for the overall skarn target size
as they significantly extend mineralization to the south. Two additional drill rigs with greater depth capacity will be
arriving to the project prior to the end of the month and we look forward to increasing the rate at which we report
drill results.”
Discussion of results and update on drilling program
The following table provides more detail regarding the mineralized intercepts encountered in drill holes AK-17-002
and DHSF17-160. The true widths of the mineralized intervals reported in Table 1 are difficult to ascertain and
additional drilling will be required to constrain the geometry of the mineralized zones.
Drill Hole ID From
(m)
To
(m)
Length
(m)
Copper
(%)
Gold
(g/t)
Silver
(g/t)
Cu Eq
(%)
Au Eq
(g/t)
AK-17-002 0.00 41.98 Not within Regulus Concessions - not reportable by Regulus
171.65 499.70 328.05 0.42 0.22 8.63 0.66 0.92
including 255.20 377.70 122.50 0.67 0.38 13.82 1.06 1.49
539.40 775.20 235.80 0.27 0.12 2.31 0.37 0.52
including 710.56 775.20 64.64 0.37 0.12 1.33 0.47 0.66
857.60 893.52 35.92 0.21 0.05 1.51 0.26 0.36
Total depth 893.52
DHSF17-160 0.00 182.91 Not within Regulus Concessions - not reportable by Regulus
204.50 728.40 523.90 0.65 0.47 7.93 1.05 1.48
including 420.40 728.40 308.00 0.79 0.71 10.80 1.39 1.95
including 477.70 569.25 91.55 1.01 1.56 16.06 2.27 3.18
and 644.15 724.80 80.65 1.10 0.34 6.97 1.40 1.97
Total depth 748.20
Table 1. AK-17-002 and DHSF17-160 results. Cu Eq and Au Eq values were calculated using copper, gold, silver and
zinc (for intervals where zinc exceeds 1%). Metal prices utilized for the calculations 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 available. 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%)).
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Drill Hole ID From
(m)
To
(m)
Length
(m)
Copper
(%)
Gold
(g/t)
Silver
(g/t)
Zinc
(%)
As
(ppm)
AK-17-002
Miocene Volcanic (HS) 171.65 306.55 134.90 0.34 0.10 5.98 0.00 1098
Miocene Breccia (HS) 306.55 353.08 46.53 0.96 0.71 25.18 0.28 2832
Skarn 353.08 499.70 146.62 0.32 0.18 5.81 0.15 116
Skarn 539.40 775.20 235.80 0.27 0.12 2.31 0.02 145
Skarn with HS overprint 857.60 893.52 35.92 0.21 0.05 1.51 0.00 302
DHSF17-160
Miocene Volcanic (HS) 204.50 481.70 277.20 0.45 0.22 5.69 0.04 1489
Skarn - full intercept 481.70 728.40 246.70 0.86 0.75 10.44 0.23 887
Skarn with HS overprint 481.70 556.00 74.30 1.10 1.93 15.81 0.55 2176
Skarn 556.00 683.60 127.60 0.64 0.30 7.16 0.15 121
Skarn with HS overprint 683.60 728.40 44.80 1.10 0.25 8.31 0.02 1097
Table 2. AK-17-002 and DHSF17-160 results presented by lithology.
Drill hole AK-17-002 was collared along the southern margin of the Regulus concessions, about 140 m to the
northwest of previously reported drill hole AK-17-001, and drilled at a -70 degree angle to the northeast (045 degree
azimuth) into Regulus ground (see Figure 1 for location). The hole encountered Miocene volcanic rocks with strong
high sulphidation alteration and mineralization to a depth of 353.15 m and then entered into the Cretaceous
sedimentary sequence with well-developed skarn mineralogy. Fracture-controlled partial oxidation occurs to a depth
of 143 m. The skarn is cut by several feldspar porphyry dikes that are strongly altered to white to green sericite and
appear to postdate the development of the skarn. A strong overprint of gypsum-anhydrite veining and replacement
occurs throughout much of the skarn and porphyry dikes and is notably more intense than in other drilling to date.
Sulphide mineralization within the Miocene volcanic rocks is predominantly pyrite-enargite whereas mineralization
within the skarn sequence is pyrite-chalcopyrite with pyrite notably more abundant than chalcopyrite. The hole
bottoms in quartzite of the Farrat Formation from 772 m onward with abundant quartz veining with anhydrite, pyrite
and molybdenite.
Drill hole DHSF17-160 was collared along the southern margin of the Regulus concessions, about 220 m to the
southeast of previously reported drill hole AK-17-001, and drilled at a -70 degree angle to the northeast (045 degree
azimuth) into Regulus ground (see Figure 1 for location). The drill hole cut Miocene volcanic rocks to a depth of
481 m and then entered into well -developed skarn in the underlying Cretaceous sedimentary sequence. The
Miocene volcanic rocks are pervasively affected by advanced argillic alteration with mineralization pr edominantly
pyrite-enargite as disseminations, fracture coatings and locally as more massive veining. Partial oxidation occurs to
a maximum depth of 109 m. The skarn sequence is predominantly retrograde skarn with some remnants of prograde
red garnet skarn. The skarn is locally overprinted by younger advanced argillic alteration related to the
mineralization in the overlying volcanic rocks. Mineralization within the skarn sequence is predominantly pyrite,
magnetite, chalcopyrite and trace amounts of specularite and is locally well-developed with grades exceeding 1% Cu
and 1 g/t Au. In the interval from 542-746m difficult drilling conditions resulted in several short zones (0.7-2.0 m
with a cumulative total of 10.8 m) with no recovery of core. These intervals typically occur in better mineralized
skarn but have been treated as dilution with no assigned grade, resulting in a probable underestimation of grade in
the reported intervals. The hole terminates near the base of the Inca Formation.
Page 4 of 8
Table 2 reports the mineralized intervals based upon lithology and demonstrates the notable difference in arsenic
content between high sulphidation mineralization in the Miocene volcanic sequence (1000-3000 ppm As) and the
lower concentrations found in the zones of skarn mineralization (typically 100-150 ppm As). As drilling progresses
to the north over the next few months, it is anticipated that th e skarn will be less affected by the late high
sulphidation overprint and As contents will decrease.
AK-17-003, located approximately 150 to the northwest of AK-17-002, is in progress and nearing completion (see
Figure 1 for locations). DHSF17-161 and DHSF17-164 have been completed and will be reported as soon as all
analyses are available.
Sampling and Analytical Procedures
Regulus follows systematic and rigorous sampling and analytical protocols which meet and exceed industry
standards. These protocols are summarized below and are available on the Regulus website at
www.regulusresources.com.
All drill holes are diamond core holes with PQ, HQ or NQ core diameters. Drill core is collected at the drill site
where RQD (Rock Quality Designation) measurements are taken before the core is transported by truck to the core
logging facility at either the Tantahuatay Mine (CMC) or in Cajamarca (Regulus) where it is photographed and
geologically logged. The core is then cut in half with a diamond saw blade with half the sample retained in the core
box for future reference and the other half placed into a pre-labelled plastic bag, sealed with a plastic zip tie, and
identified with a unique sample number. The core is typically sampled over a 1 to 2 metre sample interval unless
the geologist determines the presence of an important geological contact. The bagged samples are then stored in a
secure area pending shipment to a certified laboratory sample prep facility. Samples are sent by batch to either the
ALS or the SGS laboratories in Lima for assay. Regulus independently inserts certified control standards, coarse
field blanks, and duplicates into the sample stream to monitor data quality. These standards are inserted “blindly” to
the laboratory in the sample sequence prior to departure from the Regulus core storage facilities. At the laboratory
samples are dried, crushed, and pulverized and then analyzed using a fire assay – AA finish analysis for gold and a
full multi-acid digestion with ICP-AES analysis for other elements. Samples with results that exceed maximum
detection values for elements of interest are re-analyzed using precise ore-grade ICP analytical techniques.
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 experienced technical and
management team, with a portfolio of precious and base metal exploration properties located in North and South
America. The principal project held by Regulus is the AntaKori copper-gold-silver project in northern Peru. The
AntaKori project currently hosts an inferred resource of 294.8 million tonnes 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 3rd, 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 directions and drilling is currently
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.
Page 5 of 8
Qualified Person
The scientific and technical data contained in this news release pertaining to the AntaKori project has been reviewed
and approved by Dr. Stewart D. Redwood, BSc (Hons), PhD, FIMMM, FGS, Chief Geologist AntaKori Project,
who 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 Regu lus' 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 words and phrases or statements that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all statements 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 AntaKori project described herein, the completion of the anticipated drilling program, the
completion of an updated NI 43-101 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. Although 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.
Page 6 of 8
Figure 1. Drill Hole Locations – AntaKori Project
Location of the current drilling along southern margin of Regulus concessions and section lines L600NW and
L950NW that are shown in Figures 2 and 3.
Page 7 of 8
Figure 2. AntaKori Project
Schematic geologic cross section L600NW indicating projected location of DHSF17-160.
Page 8 of 8
Figure 3. AntaKori Project
Schematic geologic cross section L950NW indicating projected location of AK-17-002.