Regency Silver Announces completion of Phase 1 2023 drill program. Mineralized breccia intersected in 8 of 9 holes
Regency Silver Announces completion of
Phase 1 2023 drill program. Mineralized
breccia intersected in 8 of 9 holes
VANCOUVER, BC
,
July 19, 2023
/CNW/ -
Regency Silver Corp.
("Regency Silver" or the
"Company", (TSXV: RSMX) (OTCQB: RSMXF) is pleased to announce that
8 of 9
follow up holes
surrounding REG-22-01 (
35.8
metres of
6.84
g/t gold,
0.88%
copper and
21.82
g/t silver along
with
13.97 g/t Au, 50.25 g/t Ag and 1.11 % Cu
over
9.8 m
)
intersect sulphide-specularite supported
breccias similar in nature to the breccia hosting Au-Cu-Ag mineralization in REG-22-01, REG-23-14
and REG-23-15 (REG-23-14 intersects
35.9m
of 5.51 g/t Au including
29.4m
of 6.32 g/t Au.
REG-
23-15, which is ~
65m
down-dip from REG-23-14 and ~90m down-dip from REG-22-01 intersects
128.35m
of 0.84 g/t Au including
57.95m
of 1.49 g/t Au and
32.5m
of 2.23 g/t Au
). In addition, a
10
th
hole targeted the strongest IP response ~200m to the west of the breccia zone.
Phase one consists of 10 holes totaling
6176.55m
of drilling. The location of the drill holes can be
seen on the plan map in Figure 1.
All 9 holes targeting the breccia are drilled on 3 fences spaced
50m
apart. Holes REG-23-13,
REG-23-14 and REG-23-15 are located on the same fence as REG-22-01. Holes REG-23-16,
REG-22-17, REG-22-18 are drilled on the section line
50m
to the west and REG-23-19, REG-
23-20 and REG-23-21 are drilled on a section
50m
to the East.
8 of 9 holes intersect the targeted breccia zone down-dip and along strike to both the east and
west from REG-22-01 with room for expansion in all directions. Select photographs from the
breccia zones found in the holes are shown in Figure 2.
Breccia appears to widen with increased depth.
Megacrystic Quartz-Feldspar Porphyry unit appears to be the primary control on distribution of
copper mineralization. The porphyry remains spatially separate from the high-grade sulphide
breccia found in the footwall to the porphyry.
The 10
th
hole, REG-23-22 targets a potential up-dip extension of the mineralized zones ~200m
to the west of the discovery area coincident with the strongest chargeabliltiy anomaly detected
in the 2023 IP survey. Significant concentrations of sulphide (dominantly Py) are found
coincident with this zone.
Final results for the total program are anticipated shortly and will be released as soon as
possible after the data has been received, interpreted and is evaluated for proper QA/QC.
Table
1
: Table of matrix supported sulphide-specularite (sulph-spec) breccia intersections for the
last 6 holes of the phase 1 drill program. Results from previous 3 holes reported in April of 2023.
Hole ID
From
To
Length(m)
Composition
REG-23-16
349.25
401.55
52.3
sulphide=specularite
REG-23-17
375.4
393.95
18.55
sulphide>specularite
REG-23-17
446.6
459.7
13.1
sulphide>specularite
REG-23-17
486.55
494.3
7.75
sulphide>specularite
REG-23-18
378.45
465.15
86.7
sulphide<specularite
REG-23-19
488.5
544.3
55.8
sulphide=specularite
REG-23-20
480.8
509.4
28.6
sulphide<specularite
REG-23-20
518.4
571.3
52.9
sulphide<specularite
REG-23-21
499.05
523.55
24.5
sulphide>specularite
Discussion and Interpretation of Results
The targeted breccia is now intersected by 9 holes (2022-2023) covering an area of ~130m of strike
and ~100m of dip extent. The zone is open along strike and at depth as well as up-dip to the most
eastern and westernmost extents. The breccia appears to be widening with depth.
Figure 3 shows the current interpreted breccia zone as defined by the current drilling. With the new
intersection points and subsequent modelling, the breccia is cutting stratigraphy slightly. The body
strikes NW-SE and dips to the NE. Current projections of the zone appear as though it may be
related to up-dip Au mineralization discovered by Regency in 2022 to the East of the historic Dios
Padre silver mine. Drilling orientation will be modified slightly in phase 2 in order to cut the body
more perpendicular and reduce drill meters required per hole.
Mineralization within the breccia follows a similar pattern observed in holes REG-23-01, REG-23-14
and REG-23-15. The shallower intersections are more pyrite dominant with deeper intersections
containing more specularite. Chalcopyrite appears to be highest in abundance where the breccia is
proximal to the lower contact of the quartz-feldspar porphyry (QFP). Matrix abundance can be highly
variable through the breccia zones, ranging from 10-15% to upwards of 50% matrix where clasts are
surrounded and supported by a sulphide-specularite matrix. Texturally, shingle, and collapse type
breccia textures are observed locally within the intervals.
It is becoming evident that mineralization at Dios Padre is long lived and multi-stage in nature with
separate gold, copper and silver events overprinting each other as part of a protracted magmatic-
hydrothermal mineralizing system. Peripheral alunite, specularite and siderite alteration is
significantly more widespread than was recognized earlier as current drilling is 100% within the
broad alteration halo of the system.
"We are very pleased with the results from phase 1 of 2023 drilling. The more we explore this
property the more indications we find of a large, long lived magmatic-hydrothermal Au-Cu-Ag system
with multiple overprinting events. This project is in its infancy and we are only beginning to realize
what its potential might be." –
Michael Tucker
– Director and Lead Geologist.
Collar and location information for the phase 1 2023 drill program.
Hole ID
Azimuth (°)
Dip (°)
Final Depth (m)
Easting (m)
Northing (m)
Elevation (m)
REG-23-13
180
-59.5
670.05
690450
3150917
1303
REG-23-14
179.5
-60.2
686.4
690450
3151016
1292
REG-23-15
179.6
-66.5
620.5
690450
3151017
1292
REG-23-16
180
-65
620.5
690417
3151031
1280
REG-23-17
178
-58.2
575.4
690400
3150991
1281
REG-23-18
178
-70.6
550.9
690400
3150991
1281
REG-23-19
178
-62
599.2
690502
3150998
1299
REG-23-20
178
-67.5
666
690502
3150998
1299
REG-23-21
179.9
-58.9
651.3
690502
3150998
1299
REG-23-22
172.3
-51.1
536.3
690257
3150925
1234
Table
2
:
Collar Location data for phase 1 2023 drill holes. Coordinates
are in WGS84, UTM zone 12N
Technical Information
The technical information contained in this news release has been reviewed by Company director
Michael Tucker, P.Geo, who is recognized as a Qualified Person under the guidelines of National
Instrument 43-101. Mr. Tucker is a director of the Company and for that reason is not considered
independent. Mr. Tucker has read and approved the technical contents of this news release.
ABOUT REGENCY SILVER CORP.
Regency Silver is a gold-copper-silver exploration company focused on the Americas. Regency
Silver is led by a team of experienced professionals with expertise in both exploration and
production. Regency Silver's flagship project is the Dios Padre gold-copper-silver project in
Sonora,
Mexico
. For further information about the Company please visit the Company's website at
www.regency-silver.com
.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Cautionary Note Regarding Forward-Looking Statements
: This news release includes certain
forward-looking statements and forward-looking information (together, "forward-looking
statements"). All statements other than statements of historical fact included in this release, are
forward-looking statements. There can be no assurance that such statements will prove to be
accurate and actual results and future events may vary from those anticipated in such statements.
Important risk factors that could cause actual results to differ materially from the Company's plans
or expectations include the risk that regulatory changes, fundraising, and risk associated with
mineral exploration, including the risk that actual results of exploration will be different from those
expected by management. The forward-looking statements in this news release were developed
based on the expectations of management. The Company expressly disclaims any intention or
obligation to update or revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as otherwise required by applicable securities
legislation.
Figure 1: Plan map showing the collar locations and drill hole traces for phase 1 2023 drill campaign.
(CNW Group/Regency Silver Corp)
Figure 2: Selected images of a variety of sulphide-specularite breccias and breccia textures
intersected in phase 1 drill program. (CNW Group/Regency Silver Corp)
Figure 3: 3d section showing the location of the modelled mineralized breccia body and the location
of the phase 1 drill holes. (CNW Group/Regency Silver Corp)
SOURCE
Regency Silver Corp
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/July2023/19/c3236.html
%SEDAR: 00052267E
For further information:
Regency Silver Corp., Bruce Bragagnolo, Executive Chairman, (604) 417-
9517, Email: [email protected]; Gijsbert Groenewegen, Chief Executive Officer, Phone: 1-
646-247-1000, Email: [email protected]
CO: Regency Silver Corp
CNW 07:00e 19-JUL-23