There will be finders fees payable in cash or securities, as permitted by the policies of the Exchange equal to 6% of the proceeds raised by the finder.
All common shares issued under the private placement will be subject to a four month hold period, in accordance with applicable Canadian securities laws.
The proceeds will be used for ongoing drilling on the flagship Dios Padre property of
The ongoing drill program is designed to follow up on discovery Hole REG 22-01 drilled in 2022. REG 22-01 yielded 35.8 metres of 6.84 g/t gold, 0.88% copper and 21.82 g/t silver.
The follow up drill program began on
Holes 4, 5 and 6 of the drill program are designed to find continuity of the breccia 50m to the west of Hole REG 22-01.
Highlights of the program as reported in our
- REG-23-14 intersects 32m of pyrite-specularite-chalcopyrite supported breccia from ~454-486m within a broader zone of disseminated and vein hosted mineralization ~25m down dip from REG-22-01.
- REG-23-15 intersects 120m of specularite-pyrite-chalcopyrite supported breccia from ~400-520m (Figure 3a,b,c,d and e) within a broader zone of disseminated and vein hosted mineralization ~85m down-dip from REG-22-01 and ~62m down-dip from REG-23-14.
Assay results for the first 3 holes are expected by mid April.
The data collection portion of the Induced Polarization (IP) program on the Dios Padre property has been completed. The results of the IP program are also expected before mid April.
For further details about
Technical Information
The technical information contained in this news release has been reviewed by Company director Michael Tucker, P.Geo, who is recognized as a Qualified Person under the guidelines of National Instrument 43-101.
Neither the
SOURCE
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