Regency Silver Corp. (TSX-V:RSMX, OTCQB:RSMXF) is set to commence a significant drill program at its Dios Padre project, bolstered by a $2.5 million private placement and impressive high-grade gold, copper, and silver drill results.
Regency Silver's executive chairman Bruce Bragagnolo is enthusiastic about the ongoing financing and the company's drilling achievements.
"We've had a lot of interest in financing the company so we can continue the good work we've started with drilling at Dios Padre," Bragagnolo told Proactive.
Located in Sonora, Mexico, Dios Padre is one of Regency Silver’s most promising exploration endeavors. The project is situated within a historically significant mining region, known for its rich deposits of gold, copper, and silver. Regency Silver's exploration efforts at Dios Padre have revealed a high-grade, high-sulfidation copper-gold porphyry system, which has drawn considerable attention from investors and industry experts alike.
Previous drilling at the property has been promising, with one hole intersecting 54.65 meters of 5.34 grams per ton (g/t) of gold, including 7.36 g/t over 38 meters, which was recognized as a top-five drill result in Mexico for the fourth quarter of 2023 by the independent publication Gambusino Prospector.
High-grade drill results
For Bragagnolo, the drill results are "nothing short of spectacular."
"It's big and it's high-grade, so we're very excited to get drilling again," he said.
These drill results are not only promising in terms of their high-grade gold content but also in their broader geological context. The presence of copper and silver, alongside gold, points to a multifaceted mineralization system that could offer substantial economic benefits.
Bragagnolo noted that the company recently confirmed Dios Padre is part of the Laramide copper porphyry belt, which highlights the copper potential. The belt spans across parts of the southwestern US and northern Mexico, including regions like Arizona, New Mexico, and Sonora, Mexico. It is renowned for its high-grade copper porphyry systems, which are large, low-grade, but often extensive deposits of copper and other minerals like gold, molybdenum, and silver. Copper mineralization is often accompanied by secondary minerals like molybdenum and gold, and its deposits are some of the largest and most economically viable sources of copper in the world.
Resurgence in gold prices
The timing of Regency Silver’s financing is particularly fortuitous, given the current positive outlook for gold prices. Over the past year, the gold market has experienced periods of frustration, but recent trends indicate a resurgence. “We've got really good prices on the metals. The metals look like they're going higher from here," Bragagnolo noted.
When the financing is secured, Regency Silver is poised to commence drilling operations at Dios Padre within a few weeks. Bragagnolo confirmed that all preparations are in place, stating, "We will have the drill turning within a couple of weeks of finishing off the raise. We're all organized, ready to go. We've got the drill ready. We've got the drill holes sited. We're ready to move here."
Regency Silver's management, with 20 years of experience and extensive knowledge of Mexico's mineralogy and mining community, is actively seeking new opportunities, particularly in the prolific Sierra Madre Occidental region. Bragagnolo co-founded and led Timmins Gold Corp., growing its market cap from $7 million to $475 million and securing a listing on the NYSE-Amex. He also guided Silvermex Resources from a $5 million IPO to its $175 million sale to First Majestic in 2012 and was involved in the acquisition of the San Jose Mine, now a flagship asset of Fortuna Silver.
The upcoming drill program aims to build on the exceptional results obtained so far, with the potential to uncover even more high-grade mineralization.