In the summer of 2022 Regency added a total of 1,658 metres of drilling from 11 holes to the resource area. The updated estimate incorporates only 1,056 meters from 8 holes since holes REG-22-08, 09 and 10 were step out holes which were too far away to be added into the resource estimate. Additional drilling is planned for these areas to eventually incorporate them into the Dios Padre resource. The updated inferred resource for Dios Padre has been estimated at 11.375 million ounces of silver equivalent, represented by 1.384 million tonnes at 255.64 g/t silver equivalent. This is a 20% increase in inferred resources and an 8.3% increase in grade. See the table below for the updated resource estimate:
Average Value | Material Content | ||||||
| Mass | Ag_Eq | Kr, Ag in | KR, Au in | Ag_Eq | KR, Ag in | Kr, Au in |
Mt | g/t | g/t | g/t | Million t.oz | Million t.oz | Million t.oz | |
Unmined | 1.384 | 255.64 | 228 | 0.32 | 11.375 | 10.145 | 0.014 |
Total | 1.384 | 255.64 | 228 | 0.32 | 11.375 | 10.145 | 0.014 |
The updated resource estimate on the Dios Padre Property includes inferred mineral resources. An 'Inferred Mineral Resource' is that part of a Mineral Resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. The formula for silver equivalent used is: AgEq (g/t) =((Ag(g/t)*Ag price*Ag recovery)+((Au (g/t)*Au price*Au recovery))/(Ag price*Ag recovery) based on a silver price of
Both the updated and previous resource estimate have been prepared by
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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.
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Neither the
Information Concerning Estimates of Mineral Resources
The scientific and technical information in this news release was prepared in accordance with NI 43-101 which differs significantly from the requirements of the
You are cautioned not to assume that any part or all of mineral resources will ever be converted into reserves. Pursuant to CIM Definition Standards, "inferred mineral resources" are that part of a mineral resource for which quantity and grade or quality are estimated on the basis of limited geological evidence and sampling. Such geological evidence is sufficient to imply but not verify geological and grade or quality continuity. An inferred mineral resource has a lower level of confidence than that applying to an indicated mineral resource and must not be converted to a mineral reserve. However, it is reasonably expected that the majority of inferred mineral resources could be upgraded to indicated mineral resources with continued exploration. Under Canadian rules, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies, except in rare cases. Investors are cautioned not to assume that all or any part of an inferred mineral resource is economically or legally mineable. Disclosure of "contained ounces" in a resource is permitted disclosure under Canadian regulations; however, the
Canadian standards, including the CIM Definition Standards and NI 43-101, differ significantly from standards in the SEC Industry Guide 7. Effective February 25, 2019, the
Cautionary Note Regarding Forward-Looking Statements: This news release includes certain forward-looking statements and forward-looking information (together, "forward-looking statements"). All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Project by the Company. There can be no assurance that such statements will prove to be accurate and actual results and future events may vary from those anticipated in such statements. Important risk factors that could cause actual results to differ materially from the Company's plans or expectations include the risk that regulatory changes, fundraising, and risk associated with mineral exploration, including the risk that actual results of exploration will be different from those expected by management. The forward-looking statements in this news release were developed based on the expectations of management, including that Exchange acceptance for the proposed transaction will be obtained, conditions will be satisfied, required fundraising will be completed and the other risks described above will not materialize. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as otherwise required by applicable securities legislation.
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