• TSX.V REG: $1.43 CAD
  • OTCQX: RGLSF $1.10 USD
  • BVL: REG
  • AU: $1,910.66 USD
  • CU: $3.15/lb USD

Overview

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 2021*
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 update in 2021
*Completion of all of the Company’s objectives is subject to the Risks and Uncertainties listed at the conclusion of the latest MDA here  including the ability of the Company to raise additional capital in a timely manner.

Timeline of Events

2010
Regulus was formed by the same management team as Antares which had just sold Haquira to First Quantum for $650 million
2012
Regulus and Pachamama merge, consolidating their respective 50% interests in the Rio Grande Cu-Au project
2014
Regulus and Southern Legacy merge; Regulus acquires AntaKori project in Peru
2017
Regulus completes definitive agreements for AntaKori with Coimolache and Colquirrumi
2017
Regulus commences Phase 1 drill program at AntaKori
2018
Regulus spins out Argentina portfolio to form Aldebaran
Q4 2018
Data cut-off for updated Resource Estimate at AntaKori and Phase 1 Drill Program Completed
2019
Commenced Phase 2 Drill Program at AntaKori, approx 25,000m. Planned to continue into mid 2020.
1 March 2019
Publish updated Resource Estimate at AntaKori
2020 + 1/2 years
2-5 rigs for extensive drilling to show full potential at AntaKori
Target 2021
Updated Resource Estimate at AntaKori

© 2020 Regulus Resources Inc.
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