2010
Regulus was formed by the same management team as Antares which had just sold Haquira to First Quantum for $650 million
Regulus Resources Inc. (TSX.V:REG; OTCQX: RGLSF) is a Canadian exploration company formed in December 2010 under the directorship of the former management of Antares Minerals Inc. (TSX V.ANM): John E. Black, Dr. Kevin B. Heather and Mark Wayne. Regulus was created through the spin-out of the Rio Grande Cu-Au project in Argentina at the conclusion of the sale of Antares to First Quantum Minerals (TSX.FM, UK FQM) for approximately C$650 million, primarily for the giant Haquira Cu-Mo-Au deposit in Peru.
Regulus’ focus is on the AntaKori project in Northern Peru where it drilled continuously throughout 2018. The Phase I drilling program (20,332 m through to hole AK-18-027) was completed by October 2018 and was utilized to calculate the updated Resource Estimate reported on March 1, 2019 (see news here). Upon conclusion of the Phase I drilling program, the Company entered directly into the Phase II drilling program.
Regulus also spun out its Rio Grande project, Aguas Calientes project and its other Argentina assets forming a new exploration company, Aldebaran Resources Inc. (TSX V.ALDE) in October 2018.
Company Focus Strategy
| Achieved by end of 2018 | 2019 | 2022* |
|---|---|---|
| Completed Phase 1 23,000+m drill program at the AntaKori Cu-Au project in Peru, doubling previous drilling meterage to allow basis for revised resource estimate in early 2019. | Published updated Resource Estimate for AntaKori 1 March 2019 (see here). Regulus will continue drilling its Phase II drilling program to work towards definition of the full size of the mineralized system. | Following the completion of the AntaKori Phase II drilling program, the Company plans to prepare an updated mineral resource estimate in 2022 |