Regency Mines acquires Resource Mining Corporation debt at significant discount
The deal bolsters Regency's position as a significant nickel explorer in Papua New Guinea
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The deal bolsters Regency's position as a significant nickel explorer in Papua New Guinea
Metminco is exploring for a multi-million ounce discovery within its Quinchia Gold Project and follow-up drilling at Chuscal is being planned.
Metminco is currently assessing the results from its recent drilling campaign at Chuscal within the Quinchia Project in Chile.
The intercept at 250 metres down-hole corresponds to near-surface historical artisanal stope suggesting potential significant structural continuity.
Given encouraging results from the first two holes, Metminco’s next hole will target multiple horsetail structures and artisanal mined breccia mineralisation.
The company will receive US1 million for the non-core Chilean assets upon settlement.
The drilling has reaffirmed the potential for a gold discovery at Quinchia project in the prolific Mid-Cauca Porphyry Belt.
The company’s securities will be placed in trading halt until Tuesday November 26 or when an announcement is made to market.
The opening ceremony, attended by the Australian ambassador to Colombia and local dignitaries, was on Friday, November 8, in Quinchia, Colombia.
The first samples were dispatched last week to the ALS laboratory in Medellin for assay and a second batch will be sent this week on completion of the logging of the core.
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The new name is considered to better reflect and acknowledge the focus of activities in the Andes mountains of Colombia.
Maiden drilling underway with decision made to extend the first hole beyond the planned 350 metres final depth, given it remains in a breccia system that has strong mineralisation potential.
The company is focused on exploring for a multi-million ounce discovery within its Quinchia Gold Project in Colombia.
The gold explorer merged with Andes Resources in August and is focused on opportunities in the Mid-Cauca copper-gold belt of Colombia.
The company will now undertake a field program to determine priority targets on the property for drilling.
Metminco is exploring for a multi-million ounce discovery within its Quinchia Gold Project and Chuscal is an at-surface 900x530-metre gold anomaly.
The firm has the advanced Challacollo and the Cachinal projects in Chile
The expanded company executed a contract with past contractor Logan Drilling.
Maiden diamond drilling into the large surface gold anomaly is set to begin within the next few weeks.
Metminco is exploring for a multi-million ounce discovery within its Quinchia Gold Project in Colombia.