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.
