Regency Silver Corp. (TSX-V:RSMX, OTCQB:RSMXF) said it has completed its Phase 1 drill program for 2023 with mineralized breccia intersected in 8 of 9 holes.
The company said the eight follow-up holes surrounding hole REG-22-01 have intersected sulphide-specularite supported breccias similar in nature to the breccia hosting gold-copper-silver mineralization in holes REG-22-01, REG-23-14 and REG-23-15.
Additionally, a tenth hole targeted the strongest IP response around 200 metres (m) to the west of the breccia zone, it said.
"We are very pleased with the results from phase 1 of 2023 drilling. The more we explore this property the more indications we find of a large, long lived magmatic-hydrothermal Au-Cu-Ag system with multiple overprinting events. This project is in its infancy and we are only beginning to realize what its potential might be,” Michael Tucker, director and lead geologist for Regency Silver said in a statement.
Phase one consists of 10 holes totaling 6176.55m of drilling and the final results for the total program are expected shortly. The targeted breccia is now intersected by 9 holes covering an area of around 130m of strike and around 100m of dip extent. The zone is open along strike and at depth as well as up-dip to the most eastern and westernmost extents. The breccia appears to be widening with depth, the company said.
With the new intersection points and subsequent modelling, the breccia is cutting stratigraphy slightly. Current projections of the zone appear as though it may be related to up-dip gold mineralization discovered by Regency in 2022 to the East of the historic Dios Padre silver mine. Drilling orientation will be modified slightly in phase 2 in order to cut the body more perpendicular and reduce the drill meters required per hole.
Regency Silver is a gold-copper-silver exploration company focused on the Americas and is led by a team of experienced professionals with expertise in both exploration and production. Regency Silver's flagship project is the Dios Padre gold-copper-silver project in Sonora, Mexico.
Contact the author at jon.hopkins@proactiveinvestors.com