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 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 will be utilized to calculate an updated Resource Estimate scheduled for completion in Q1-2019. Upon conclusion of the Phase I drilling program, the Company entered directly into the Phase 2 drilling program. Subject to availability of funding, the Phase 2 program is projected for 25,000-35,000 m in 2019 and will form the basis for an additional updated mineral resource estimate in early 2020. The 2019 exploration program will also see increased emphasis on acquisition of surface rights as the drilling extends to the north in previously un-drilled areas.
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).
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