Regency Silver Intercepts 5.34 g/t Gold Over 54.65m Including 7.36 g/t Gold Over 38m at its Dios Padre Project in Sonora, Mexico Drilling Continues to Intercept Wide Intervals of High-Grade Gold Extending Mineralization Along Strike from Discovery Hole
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FOR IMMEDIATE RELEASE
NEWS RELEASE
Regency Silver Intercepts 5.34 g/t Gold Over 54.65m
Including 7.36 g/t Gold Over 38m at its Dios Padre
Project in Sonora, Mexico
Drilling Continues to Intercept Wide Intervals of High-Grade
Gold Extending Mineralization Along Strike from Discovery Hole
Vancouver, BC – November 2, 2023 – Regency Silver Corp. (“Regency Silver” or the “Company”,
TSXV- RSMX and OTCQB-RSMXF) is pleased to announce that hole REG-23-21 intersects 54.65m
of 5.34 g/t gold including 7.36 g/t over 38m in a ~65m step-out along strike to the southeast
from the discovery hole REG-22-01 which returned ( 35.8m of 6.84 g/t gold , 0.88% copper
and 21.82 g/t silver) and ~75m step-out from REG-23-14 (35.9m of 5.51 g/t Au including 29.4m
of 6.32 g/t Au).
The Company will host a virtual investor webcast to discuss these drill results and to provide a
corporate update to the investment community later today at 06:00 PDT / 09:00 EDT. Details are
provided below.
The 2023 drill campaign consisted of 6105.25m in 10 holes (Fig.1). 8 of the 9 holes targeting the
lower Dios Padre breccia zone intersected mineralized pyrite-specularite breccia and confirm the
mineralized breccia zone has a strike of at least 180m and depth extent of at least 150m while
the breccia remains open both along strike, up-dip towards the old silver mine, and at depth.
Select Drilling Highlights:
REG-23-21 intersects 54.65m of 5.34 g/t Au including 7.36 g/t over 38m and 8.7 g/t over
28.90m from 450.8m downhole in ~65m step-out along strike to the southeast from hole
REG-22-01 (Fig. 3).
REG-23-19 intersects 44.75m of 1.61 g/t including 13.3m of 2.23 g/t Au from 492.7m
downhole ~40m down- dip from REG-23-20.
REG-23-20 intersects 96.3m of 0.65 g/t Au including 9.95m of 1.6 g/t Au from 477.6m
downhole ~45m down-dip from REG-23-19 and ~85m down-dip from REG-23-21.
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REG-23-16 intersects 7.15m of 2.76 g/t Au from 393.3m downhole ~75m along strike to
the NW from REG-23-14 (Fig. 2).
Michael Tucker, lead geologist and director states, “The continued ability of the lower breccia
zone to produce highly elevated gold grades over significant widths is very compelling. The system
has proven the ability to generate spectacular grades and thicknesses. The indications of a large
magmatic-hydrothermal system are present, and we are excited to continue expanding on these
exceptional results as they clearly demonstrate there is a big system to be explored.”
Discussion of Results:
The mineralized breccia zone now has a confir med s t rike ext en t of at lea s t 1 80 m a nd
depth extent of at least 150m, and the breccia remains open both along strike and at
depth (Fig. 4).
The shape and orientation of the breccia zo ne is now understood; trending NW-SE and
dipping ~60˚ to the NE. The orientation of the breccia is unrelated to the orientation of
the Quartz-feldspar porphyry (QFP) (Fig. 5).
High grade Au mineralization is hosted within the larger pyrite-specularite breccia body.
More Au-rich zones appear to be associated with areas of increased pyrite.
High grade Au at this stage appears to be concentrated in the shallower (upper) portions
of the breccia.
The SE portion of the breccia body is trending upwards towards similar Au-Ag rich breccias
encountered in shallow drilling at the Dios Pa dre mine site (REG-22-04 – 17.9m of 1.34
g/t Au. See news release of October 14, 2022). This suggests that similar high-grade
sections as those in REG-22-01, REG-23-14 and REG-23-21 may exist at shallower levels as
we approach the historic mine site, potent ially transitioning to more of an Au-Ag
assemblage.
The breccia zone as well as the high-grade upper portion both are open along strike and
at depth.
Copper mineralization is more intimately associated with the QFP unit. Where the breccia
and the QFP intersect, more Au-Cu mineralizat ion is present although Cu mineralization
is a later event which overprints the earlier Au mineralization.
Cu and associated low-grade Au mineralization appears to be increasing with depth within
the QFP unit, indicating a vector towards a higher-grade Cu core within the QFP at depth.
REG-23-22 targeted the strongest IP (Chargeability) anomaly indicated by the 2023
survey. The hole intersected zones of signific ant pyrite, alunite, and sericite alteration,
however, did not intersect and significant Au, Ag or Cu mineralization. The sulphide and
broad alteration are clearly associated with the main hydrothermal system and provide
important information on metal endowment va riance with distance from the primary
mineralized corridors.
Bruce Bragagnolo, Executive Ch airman and Director states, “The gold breccia is a large, high
grade gold zone. Consistently drilling into a mi neralized zone as thick as an 18-story building
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builds our confidence that we can extend the high -grade core along strike with strong potential
for continued high grade zones up-dip 400m toward the historic silver mine.”
Technical Prospectivity of the Dios Padre project:
The Dios Padre historic silver mine workings contain a NI 43-101 inferred resource of 11.375
million AgEq ounces (94% Ag) at an average grade of 255.64 g/t AgEq at a cutoff grade of 120 g/t
AgEq. Dios Padre is a high-grade deposit as evidenced by its drill intercepts which include:
Hole FMR 12-06 with 1.9m of 3220 g/t silver inside an intercept of 32.5m of 408 g/t silver;
Hole FMR 17-06 with 5.2m of 1145 g/t silver;
Hole RDP 18-12 with 12.4m of 558 g/t silver;
Hole FMR 15-06 with 28.m of 467.8 silver.
The newly discovered lower breccia Au-Cu zones are clearly part of a long lived, multi-phase
magmatic hydrothermal Au-Cu-Ag event in the district. The current hypothesis is that this system
is part of the late Cretaceous to early Paleogene Laramide magmatic arc and associated porphyry
Cu-Au deposits that span from New Mexico southwards into Sinaloa, Mexico (e.g. Buenavista del
Cobre, La Caridad).
Samples from the Cu-Au mineralized K-spar megacrystic QFP have been submitted for
geochronological analysis to determine its age and confirm its association with this magmatic
suite. The presence of a Laramide age Cu-Au po rphyry system would be new to the Dios Padre
region of Sonora and has property-scale, as well as regional-scale implications on the
prospectivity of the district. Dios Padre has all the indications of the presence of a significant
hydrothermal system including widespread alun ite-sericite alteration, extensive specularite-
pyrite halos around Au-Cu mineralization, large, well-developed, multi-phase breccias as well as
Cu-Au mineralized porphyritic intrusive rocks.
The current hypothesis is that the Dios Padre silver mine and the lower Au breccia represent the
thermal transition from a cooler Ag dominant upper assemblage to a warmer Au-Cu domain as
the system approaches the magmatic source. The current complex is believed to represent a
hypogene, high-sulphidation Au-Ag-Cu system prox imal to the Cu-Au porphyry source likely to
exist at depth at the northern part of the property.
Table 1: Gold (Au) results for holes REG-23-16 to REG-23-21
Hole From (m) To (m) Length (m)1 Au (g/t)2
REG-23-16 359.15 405.05 45.9 0.76
Inc. 377.4 384.25 6.85 1.31
Inc. 393.3 400.45 7.15 2.76
Inc. 398.6 399.25 0.65 17.5
REG-23-17 447.2 453.9 6.7 0.78
Inc. 447.2 452.55 5.35 0.95
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Hole From (m) To (m) Length (m)1 Au (g/t)2
REG-23-18 401.45 466.4 64.95 0.25
Inc. 401.45 404.85 3.4 1.7
REG-23-19 142.2 155.3 13.1 0.47
REG-23-19 492.7 537.45 44.75 1.61
Inc. 524.15 537.45 13.3 2.23
REG-23-20 135.5 171.5 36 0.25
Inc. 146 149.85 3.85 1.22
REG-23-20 354.14 391.45 37.31 0.24
REG-23-20 477.6 573.9 96.3 0.65
Inc. 480.8 484.85 4.05 1.27
Inc. 522.4 532.35 9.95 1.6
Inc. 546.6 566.7 20.1 0.81
REG-23-21 450.8 460.3 9.5 0.61
REG-23-21 482.6 537.25 54.65 5.34
Inc. 494.65 532.65 38 7.36
Inc. 494.65 523.55 28.9 8.7
REG-23-21 564 571.9 7.9 0.95
1. It is estimated that the intervals are somewhere between 70- 100% of true thickness since drilling is currently near
perpendicular to the orientation of stratigraphy with mineralization appearing to loosely follow stratigraphy at this stage of
exploration.
2. Au composites are calculated using a 0.1 g/t Au cutoff, incorporating no more th an 7.5m downhole dilution. Higher-grade
composite intervals are calculated usin g 0.3g/t, 1g/t, 3g/t, and 5 g/t cutoffs in corporating no more than 5m downhole
dilution.
Table 2: Copper (Cu) results for holes REG-23-16 to REG-23-21
Hole From (m) To (m) Length (m)1 Cu (%)2
REG-23-16 339.5 384.25 44.75 0.21
Inc. 363.1 383 19.9 0.32
REG-23-16 394.7 405.05 10.35 0.5
Inc. 395.8 399.25 3.45 2.19
Inc. 398.6 399.25 0.65 10.6
REG-23-17 279.2 298.1 18.9 0.33
REG-23-18 373.45 408.85 35.4 0.15
REG-23-18 423.6 446.35 22.75 0.16
REG-23-19 142.2 147.5 5.3 1.88
REG-23-19 440.85 461.5 20.65 0.16
REG-23-20 346.05 394.05 48 0.21
Inc. 360.4 373.5 13.1 0.36
REG-23-21 450.8 472.5 21.7 0.14
REG-23-21 523.55 535.05 11.5 0.17
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1. It is estimated that the intervals are somewhere between 70- 100% of true thickness since drilling is currently near
perpendicular to the orientation of stratigraphy with mineralization appearing to loosely follow stratigraphy at this stage of
exploration.
2. Cu composites are calculated using a 0. 1 % Cu cutoff, incorporating no more t han 7.5m downhole dilution. Higher-grade
composite intervals are calculated using 0.25%, 0.5%, 0.75% cutoffs incorporating no more than 7.5m downhole dilution.
Table 3: Silver (Ag) results for holes REG-23-16 to REG-23-22
Hole From (m) To (m) Length (m)1 Ag (g/t)2
REG-23-16 No Significant Results
REG-23-17 253.6 257.1 3.5 140.07
REG-23-17 279.2 298.1 18.9 33.45
REG-23-18 No Significant Results
REG-23-19 142.2 155.3 13.1 77.01
Inc. 142.2 147.5 5.3 180.43
REG-23-19 305.5 311.5 6 60.91
REG-23-20 142.7 152.5 9.8 78.23
Inc. 146 146.85 0.85 833
REG-23-21 No Significant Results
1. It is estimated that the intervals are somewhere between 70- 100% of true thickness since drilling is currently near
perpendicular to the orientation of stratigraphy with mineralization appearing to loosely follow stratigraphy at this stage of
exploration.
2. Ag composites are calculated using a 10g/t cutoff, incorpor ating no more than 7.5m downhole dilution. Higher-grade
composite intervals are calculated using 25g/t and 50 g/t cutoffs incorporating no more than 5m downhole dilution.
Table 4: Collar table containing the location and orientations of completed holes. Holes contained in this
news release are in bold and the balance are holes that have been previously completed and the results
released.
Hold ID Easting Northing Elevation Hole Depth Azimuth Dip
REG-22-01 3150962 690443 1294 500.5 178.2 -60
REG-23-13 3150907 690448 1300 670.05 180 -59.5
REG-23-14 3151017 690450 1294 686.4 179.5 -60.2
REG-23-15 3151017 690450 1294 617.5 179.6 -66.5
REG-23-16 3150995 690398 1284 551.4 180 -65
REG-23-17 3150995 690398 1284 575.4 178 -58.2
REG-23-18 3150995 690398 1284 550.9 178 -70.6
REG-23-19 3150994 690500 1299 599.2 178 -62
REG-23-20 3150994 690500 1299 666 178 -67.5
REG-23-21 3150994 690500 1299 651.3 179.9 -58.9
REG-23-22 3150925 690257 1234 536.3 172.3 -51.1
QA/QC
Once the drill core was received from the drill site, individual samples were determined, logged
for geological attributes, sawn in half, labelled, and bagged for assay submittal. The remaining
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drill core was then stored at a secure site in the buildings surrounding the old milling site for the
Dios Padre silver mine. The Company inserted quality control samples at regular intervals within
the sample stream which included blanks, pr eparation duplicates, and standard reference
materials with all sample shipments intended to monitor laboratory performance. Sample
shipment was conducted under a chain of custody procedure.
Drill core samples were submitted to ALS Global’s analytical facility in Hermosillo, Mexico for
preparation and analysis. Sample preparation included drying and weighing the samples,
crushing the entire sample, and pulverizing 250 grams (“g”). Analysis for gold was by method Au-
AA23: 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.005 ppm
and upper limit of 10 ppm. Gold assays greater than 10ppm are automatically analyzed by
method Au-GRA21: 30g fire assay fusion with a gr avimetric fusion. Analysis for silver and base
metals was by method ME-ICP61m: 0.75g is dissolved via four acid digest and analyzed with ICP-
AES finish. Detection limits for Ag are 0.5-100ppm, 1-10 000ppm for Cu, 2-10 000ppm for Zn and
2-10 000ppm for Pb. Silver assays greater than 100ppm are automatically analyzed by method
Ag-OG62: 0.4g sample by Ag by HF-HNO3-HClO4 digestion with HCl leach, ICP-AES or AAS finish.
Samples with Ag>1500ppm are automatically analyzed by Ag-GRA21: 30g sample Ag by fire assay
and gravimetric finish. Cu, Pb and Zn >10 000ppm are automatically analyzed by Cu-OG62, Pb-
OG62 and Zn-OG62 respectively: 0.4g sample by Four acid digestion and ICP finish.
ALS Global is ISO 9001 and ISO/IEC 17025 certified and all analytical methods include quality
control materials at set frequencies with establ ished data acceptance criteria. Parameters for
ALS' internal and Regency Silver’s external blind quality control samples were acceptable for the
analyzes returned.
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.
Webcast Details
Topic: Regency Silver Investor Update
Date: November 2, 2023
Time: 06:00 PDT / 09:00 EDT
Speaker(s): Bruce Bragagnolo, Executive Chairman
Webcast URL: https://us06web.zoom.us/webinar/register/2316987678980/WN_FX7LEDxcQ6-
WNzbbU-hf2g
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ABOUT REGENCY SILVER CORP.
Regency Silver is a gold-copper-silver explor ation company focused on the Americas. Regency
Silver is led by a team of experienced profe ssionals with expertise in both exploration and
production. Regency Silver’s flagship project is the Dios Padre gold-copper-silver project in
Sonora, Mexico.
Regency Silver has received a Technical Report entitled “Geological Report and Resource
Estimate, Dios Padre Property, Municipality of Yecora, Sonora State, Me xico”, dated March 02,
2023 prepared by Gordon Gibson, B.Sc., P. Geo in accordance with National Instrument 43-101 –
Standards of Disclosure for Mineral Projects (NI 43-101). Mr. Gibson is an independent Qualified
Person pursuant to NI 43-101. The Technical Report contains a resource estimate which
estimates an inferred resource of 11.375 million ounces of silver equivalent represented by 1.384
million tonnes at 255.64 g/t silver equivalent.
Contact Information
Regency Silver Corp.
Kin Communications Inc.
Phone: 1-604-684-6730
Email: [email protected]
Bruce Bragagnolo, Executive Chairman
Phone: 1-604-417-9517
Email: [email protected]
Gijsbert Groenewegen, Chief Executive Officer
Phone: 1-646-247-1000
Email: [email protected]
Information Concerning Estimates of Mineral Resources
The scientific and technical informat ion in this news release was prepar ed in accordance with NI 43-101
which differs significantly from the requirements of the U.S. Securities and Exchange Commission (the
"SEC"). The terms "measured mineral resource", "i ndicated mineral resource" and "inferred mineral
resource" used herein are in reference to the mining terms defined in the Canadian Institute of Mining,
Metallurgy and Petroleum Standards (the "CIM Definition Standards"), which definitions have been
adopted by NI 43-101. Accordingly, information contained herein providing descriptions of our mineral
deposits in accordance with NI 43-101 may not be comparable to similar information made public by other
U.S. companies subject to the United States fede ral securities laws and the rules and regulations
thereunder.
You are cautioned not to assume that any part or all of mineral resources will ever be converted into
reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral
resource for which quantity and grade or quality are estimated on the basis of limited geological evidence
and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality
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continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated
mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that
the majority of inferred mineral resources could be upgraded to indicated mineral resources with
continued exploration. Under Canadian rules, estima tes of inferred mineral re sources may not form the
basis of feasibility or pre-feasibility studies, except in rare cases. Investors ar e cautioned not to assume
that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of
"contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the SEC
normally only permits issuers to report mineralization that does not constitute "reserves" by SEC
standards as in place tonnage and grade without reference to unit measures.
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from
standards in the SEC Industry Guide 7. Effective February 25, 2019, the SEC adopted new mining disclosure
rules under subpart 1300 of Regulat ion S-K of the United States Securities Act of 1933, as amended (the
"SEC Modernization Rules"), with compliance requ ired for the first fiscal year beginning on or
after January 1, 2021. The SEC Modernization Ru les replace the historical property disclosure
requirements included in SEC Industry Guide 7. As a result of the adoption of the SEC Modernization Rules,
the SEC now recognizes estimates of "measured mine ral resources", "indicated mineral resources" and
"inferred mineral resources". Information regarding mineral resources contained or referenced herein
may not be comparable to similar information made pu blic by companies that report according to U.S.
standards. While the SEC Modernization Rules are purported to be "substantially similar" to the CIM
Definition Standards, readers are cautioned that there are differences between the SEC Modernization
Rules and the CIM Definitions Standards. Accordingly, there is no assurance any mineral resources that
the Company may report as "measured mineral resources", "indicated mineral resources" and "inferred
mineral resources" under NI 43-101 would be the same had the Company prepared the resource
estimates under the standards adopted under the SEC Modernization Rules.
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 in cluded in this release, including, without limitation,
statements regarding the optioning of the Project by the Company. 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 coul d 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, including that Exchange acceptance for the proposed transaction will be
obtained, conditions will be satisfied, required fundraising will be completed and the other risks described
above will not materialize. 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.