Regency Silver Corp Secures $2.5 Million for Dios Padre Drilling Program
TL;DR
Regency Silver Corp secures 2.5 million dollars through non-brokered private placement, reinforcing its exploration activities and potential economic gains.
Drilling program at the Dios Padre project will be funded by the 2.5 million dollar private placement, allowing for immediate mobilization of the drill crew to explore high-grade mineralization.
Regency Silver Corp's successful financing will advance exploration activities, potentially leading to the discovery of high-grade mineralization that could benefit the local community and shareholders.
Hole REG-23-21 intersected 54.65 meters of 5.34 g/t gold, indicating a promising high-grade gold-copper-silver system, making it an exciting and potentially lucrative discovery.
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Regency Silver Corp has announced a significant financial milestone with the arrangement of a non-brokered private placement, which is expected to generate gross proceeds of up to $2.5 million, pending regulatory approval. This financing effort is crucial for advancing the company's exploration activities, particularly at the Dios Padre project.
Executive Chairman Bruce Bragagnolo expressed enthusiasm about the upcoming drilling program at Dios Padre, noting that the drill crew will mobilize immediately after the financing round's closure. The project has shown promising results, suggesting the presence of a high-grade, high-sulphidation gold-copper-silver system near a porphyry source.
Notably, previous drilling has delivered encouraging outcomes. Hole REG-23-21 intersected 54.65 meters of 5.34 g/t gold, including 7.36 g/t over 38 meters in a 65-meter step-out along strike from discovery hole REG-22-01. The discovery hole previously returned 35.8 meters of 6.84 g/t gold, 0.88% copper, and 21.82 g/t silver. Additionally, Hole REG-23-14 intersected 35.9 meters of 5.51 g/t gold.
These results reinforce Regency Silver Corp's confidence in the Dios Padre project's potential. The company aims to further explore and validate this high-grade mineralization, with the successful financing enabling continued drilling activities and value generation for shareholders.
Curated from News Direct
