Regency Silver intercepts continuation of sulphide bearing breccia in 2023 drill program
{03804552;2}
FOR IMMEDIATE RELEASE
NEWS RELEASE
Regency Silver intercepts continuation of sulphide bearing breccia in 2023 drill program
Vancouver, BC – February 23, 2023 – Regency Silver Corp. (“Regency Silver” or the “Company”,
TSXV- RSMX and OTCQB-RSMXF) is pleased to announce that 2 follow up holes down-dip from
hole REG -2 2-01 intersect sulphide-specularite supported breccia similar in nature to the
breccia hosting Au-C u-Ag mineralization in REG-2 2-01. REG-22-01 yielded 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 % C u over 9.8 m.
The follow up drill program began on January 15 th 2023. Three holes have been completed to
date totaling 1,974m of drilling. The location of the drill holes can be seen on the plan map in
Figure 1. Hole 4 of the program is currently underway attempting to find continuity of the breccia
50m to the west. Highlights of the program so far include:
• REG-23-14 intersec ts 32m of pyrite-specularite-chalcopyrite supported breccia from
~454-486m ( Figure 2 a,b) within a broader zone of disseminated and vein hosted
mineralization ~25m down dip from REG-22-01.
• REG-23-15 intersects 120m of specularite-pyrite-chalcopyrite supported breccia from
~400-520m (Figure 3a,b,c,d and e) within a broader zone of disseminated and vein hosted
mineralization ~85m down-dip from REG-22-01 and ~62m down-dip from REG-23-14.
Close up photos of stronger sections of mineralization are shown in Figures 4 and 5. For
comparative purposes, the visual results from REG-22-01 with assays labelled can be found in
Figure 6. We currently do not have analytical results for the intervals from the 2023 drill program,
so caution is warranted in comparing the potential assay quality of these intersections to REG -
22-01. However, in ter ms of geology, alteration, mineral species and abunda nce, the zones
appear to compare favorably.
REG-23-13 drilled ~ 67m up dip from REG-22-01 did not intersect the same breccia body found in
the other 3 holes. The geology and alteration in the area of the projected up-dip extension of the
zone does however, appear to remain consistent. The area also has localized pyrite, specularite
and chalcopyrite, but the significance of these zones cannot be determined at this time.
{03804552;2} 2
The location of the holes relative to REG-22-01 can be found on the cross-section in Figure 7. Our
geologic understanding of the area and the controls on mineralization continues to evolve. Re -
evaluation of REG -22-01 identified a previously unrec ognized feldspar-megacrystic quartz -
feldspar porphyry intrusion that sits stratigraphically above the mineralization in REG-22-01. This
intrusion is found in both holes REG-23-14 and REG-23-15 with a potentially narrower, finer
grained variant being identified in REG -23-13. Our current hypothesis is that this unit plays a
significant role in the location and distribution of mineralization. Being able to identify this unit
going forward is an extremely valuable tool in vectoring towards additional zones of
mineralization. Further, the distribution of the porphyry and the mineralized breccia zones
confirm our hypothesis that mineralized zones dip shallowly to the north with the width of the
breccia zone also appearing to increase with depth. Of interest as well is that we are seeing a
variance in mineral assemblages as we continue to depth. Breccias in REG-22-01 and REG-23-14
are dominantly pyrite>specularite>chalcopyrite however, the broader zone of breccia in REG-23-
15 is distinctly specularite>pyrite>chalcopyrite. Alteration remains consistent within the zones
being dominantly silica and white mica.
“The first three holes can only be described as a success. We now know that the breccia continues
to depth and appears to be of similar quality to what we had in REG -22-01. Our geologic
understanding has increased significantly and our ability to target effectively in further step outs
will only improve going forward” – Michael Tucker – Director and Lead Geologist.
Update on IP program
The IP program over Dios Padre is ~75% complete. We anticipate the full results of the program
with interpretation before the end of March.
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.
{03804552;2} 3
Contact 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]
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.
Figure 1: Plan map showing the 2022 drill results with the 2023 completed and ongoing drill hole collars.
{03804552;2} 4
Figure 2a: REG-23-14 - Mineralized pyrite-specularite-chalcopyrite breccia from 451.2m – 468.45m.
{03804552;2} 5
Figure 2b: REG-23-14 - Mineralized pyrite-specularite-chalcopyrite breccia from 468.45m-481.6.
{03804552;2}
Figure 3a: REG-23-15 - Mineralized specularite-pyrite-chalcopyrite breccia from 468.45m-481.6.
{03804552;2} 7
Figure 3b: REG-23-15 - Mineralized specularite-pyrite-chalcopyrite breccia from 426.6m - 452.55
{03804552;2} 8
Figure 3c: REG-23-15 - Mineralized specularite-pyrite-chalcopyrite breccia from 452.55m – 478.55m