VANCOUVER, BC, Sept. 9,
2022 /CNW/ - Regency Silver Corp.
("Regency Silver" or the "Company") (TSXV: RSMX) (OTCQB:
RSMXF) is pleased to announce the completion of its 2,000 metre,
summer 2022, drill program at its flagship Dios Padre Property in
Sonora, Mexico.
The drill program was supervised at site by Regency Silver
Executive Chairman, Bruce
Bragagnolo, and Director, Michael
Tucker, P. Geo.
The 2,000 metre drill program was designed to test a large IP
anomaly only 550 metres to the north of the existing Dios Padre
historical workings to determine whether it represents a
significant continuation of the mineralization at Dios Padre. The
program was also designed to test for extensions to the existing
Dios Padre mineral resource. The Dios Padre property has initial
inferred resource of 9.5 million ounces of silver
equivalent at a grade of 236 g/t. (1.25 million tonnes
at 236 g/t AgEq). See below for details.
Final assay results are expected in early October. The Company
will release the results shortly thereafter.
Bruce Bragagnolo, Executive
Chairman stated: "We are excited to begin the next chapter of the
growth of Regency Silver. We are hopeful that this drill program
will assist in unlocking the potential of Dios Padre."
ABOUT REGENCY SILVER
CORP.
Regency Silver is a silver and gold 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 silver project
in Sonora, Mexico.
The Dios Padre Property is the subject of a November 24, 2020, National Instrument 43-101
Technical Report entitled "Geological Report and Resource Estimate,
Dios Padre property, Municipality of Yecora, Sonora State, Mexico". The Technical Report estimates an
initial inferred resource of 9.5 million ounces of silver
equivalent at a grade of 236 g/t. (1.25 million tonnes
at 236 g/t AgEq). The report was prepared by Robert A. Lunceford, Gordon Gibson and Jesse
D. Wellman, in accordance with National Instrument 43-101 –
Standards of Disclosure for Mineral Projects ("NI 43-101") and Form
43-101F1.
Previous drilling at Dios Padre has returned intercepts of up to
1.9 meters of 3220 g/t silver within a broader
interval of 32.5 meters of 408 g/t silver, 5.2
meters of 1145 g/t silver, 12.4 meters of 558
g/t silver and 28.8 meters of 467.8 g/t silver. The
initial inferred resource described above is from the area in and
around the old mine workings only and, during the recent drill
program, Regency tested a proximal, large IP anomaly to determine
whether it represents a significant continuation of the
mineralization at Dios Padre.
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.
For further details about the Company, please visit
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.
Information Concerning Estimates
of Mineral Resources
The scientific and technical information in this news release
was prepared 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", "indicated 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 federal 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 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,
estimates of inferred mineral resources may not form the basis of
feasibility or pre-feasibility studies, except in rare cases.
Investors are 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 Regulation S-K of the
United States Securities Act of 1933, as amended (the "SEC
Modernization Rules"), with compliance required for the first
fiscal year beginning on or after January 1, 2021. The SEC
Modernization Rules 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 mineral resources", "indicated mineral
resources" and "inferred mineral resources". Information regarding
mineral resources contained or referenced herein may not be
comparable to similar information made public 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.
Cautionary Note Regarding
Forward-Looking Statements:
This news release includes certain forward-looking statements
and forward-looking information (together, "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 TSX
Venture Exchange acceptance of the option agreement will not be
obtained, 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.
SOURCE Regency Silver Corp