Regulus Resources Inc. (TSX V.REG) 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 in the Antakori Project in Northern Peru where it is currently carrying out an extensive over 20,000 metre drill program with the plan to publish an updated resource estimate by the first quarter of 2019. Regulus has recently spun out the Rio Grande project and its other Argentina assets forming a new exploration company, Aldebaran Resources Inc. (TSX-V:ALDE).
|Route One Investment Company 23.62%|
|First Quantum Minerals, Sentry, Primevest with significant positions|
Following Antares’ successful monetization of the Haquira asset in Peru and the merger with Pachamama, Regulus maintains significant strategic alliances with Farallon Capital (San Francisco), the International Finance Corporation (IFC: member of the World Bank, Washington DC) and First Quantum Minerals Ltd, which collectively hold an aggregate 24% of the shares of Regulus.
|By Q4 2018||Q1 2019||By 2020|
|Complete current 20,000+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.||Publish updated Resource Estimate for AntaKori in early 2019 and continue drilling to work towards definition of the full size of the mineralized system.||Continue to aggressively drill out the AntaKori Cu-Au deposit leading to a revised resource update and probable PEA in early 2020 that will begin to reveal the full extent and potential value of the mineralization.|