Copper Gold Deposit in Southern Peru
“Regulus Resources is a company that started as a spin out with Antares Minerals. The same team that we have today had the good fortune to discover and drill out the AntaKori deposit in southern Peru, which we sold the first quantum for about 650 million dollars in 2010. We were fortunate to identify a very exciting copper gold deposit, which is 295 million tons at 0.48 per cent copper, 0.36 grams per tonne gold. And we’ll be drilling with multiple rigs as we try to define the outer limits of what we believe will be a very large system.” – John Black, CEO of Regulus Resources
Regulus Resources Inc. was formed in December 2010 in connection with the sale of Antares Minerals Inc. to First Quantum Minerals Ltd. The Antares team responsible for the discovery of the Haquira porphyry copper deposit, which led to the sale of Antares, is seeking to build on that experience and make another major discovery. Regulus was initially established to continue exploration at the 100% held Rio Grande Au-Cu-Mo porphyry project in northern Argentina. The Company put the Rio Grande project on “hold” in 2013 and began pursuing opportunities for new mineral projects with good potential for significant discoveries. In September 2014, the Company completed a merger with Southern Legacy Minerals Inc. (“Southern Legacy”). The primary objective of the merger was to acquire the AntaKori Cu-Au-Ag project in northern Peru, which is now the flagship project for Regulus. The AntaKori project is located near several large-scale gold and copper deposits and has an initial NI 43-101 resource of almost 300 million tonnes with attractive grades of copper and gold. Management is confident that further work will expand the current deposit to a size that will be of interest to major mining companies.
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