Regency Silver makes new discovery at Dios Padre project

The goal of the drill campaign at the Dios Padre project was two-fold. To test the core of the IP anomaly 500 m to the north of the old mine workings and to expand the Dios Padre silver mine mineralisation both to the east and to the west. The drill program was successful on both fronts, intersecting strong gold, copper and silver mineralisation in the core of the IP anomaly as well as successfully intersecting silver and gold mineralisation both to the east and west of the old mine workings.

Gold-copper-silver mineralisation in REG-22-01 is largely breccia hosted, with sulfides (pyrite and chalcopyrite) forming the breccia matrix. The core of the mineralised zone sits within and adjacent to a felsic intrusive body, though mineralisation is present both within the felsic unit as well as the host andesites. Both rock units are strongly altered to white mica with some silica. Gold and copper values correlate well with increased sulfide abundance, and coarse visible gold (VG) was found in some of the more gold-rich areas. The current hypothesis is that this zone represents a down-dip extension of the Dios Padre silver mine where we have moved further up the temperature gradient of the system from a Ag-Pb-Zn dominant assemblage in the old mine workings, to a Au-Cu dominant assemblage down-dip. The current hypothesis is that this mineralisation is driven by magmatic fluids and that the mineralisation intersected in REG-22-01 represents a step closer to the magmatic source. Work is ongoing to determine more specifically what type of broad, mineralising system is present at Dios Padre. Regency is highly encouraged by what these results indicate.

Additional drilling outside of the existing block model near the old silver mine workings intercepted grades as high as 582.47 g/t silver over 3.9 m from 21.1 m to 25 m depth in hole REG-22-05, 558.30 g/t silver over 5.85 m from 38.15 m to 44 m in hole REG-22-06 and 420.23 g/t silver over 3.10 m in hole REG-22-09. The old silver mine workings contain an existing NI 43-101 inferred resource of 9.5 million oz of silver equivalent with an average silver grade of 236 g/t. (1.25 million t at a grade of 236 g/t Ag Eq). Regency is very encouraged that the step-outs all indicate that the system continues both to the east and the west where it was previously thought to have stopped and currently sees no impediment to continued lateral expansion of the deposit along strike to the east and the west. Additionally, to the east, gold values of the easternmost holes are some of the strongest intersected in the mine area with hole REG-22-04 intersecting 17.9 m of 1.34 g/t Au. The results indicate a more gold rich zonation in the system towards the east. Regency plans to follow up this successful program with a more thorough airborne and ground geophysical program in addition to further drilling to expand on the exceptional results from REG-22-01. Work is ongoing to secure a drill and contractor with a deeper drilling capacity to determine the extent of the mineralisation below 500 m downhole depth.

Bruce Bragagnolo, Executive Chairman said:

"The 2022 drill program was a major success. The drill hole into the prominent IP anomaly proved out our theory that the mineralisation at depth would be different than the silver mineralisation found at the historic Dios Padre silver mine workings. The gold and copper grades below the IP anomaly have proven to be at the very top range of our expectations. The drill results outside of the block model at the historic silver mine workings were also very promising and justify additional work. Our upcoming programs will be designed to verify management’s model of a large, district scale magmatic-hydrothermal gold-copper-silver system."

Read the article online at: https://www.globalminingreview.com/mining/12102022/regency-silver-makes-new-discovery-at-dios-padre-project/