Regency Silver (RSMX.V) has already completed three holes on its Dios Padre project where it aims to follow up on the discovery of a high-grade hole last year.
While hole REG-23-13 did not intersect the same breccia body found in the hole drilled last year and in holes 14 and 15 that were completed this year, the company remains cautiously optimistic as the geology and alteration in the area remains consistent.
The real eye catcher of the exploration update was seeing the drill bit intersect two relatively thick zones of sulphide-bearing breccia. Hole 14 encountered 32 meters while hole 15 drilled through 120 meters of specularite-pyrite-chalcopyrite supported breccia. There aren’t any assay results just yet so the jury is still out, but this interim-update reminds us of Western Alaska Mineral’s announcement in the summer of last year as the company disclosed the discovery of massive sulfide replacement.
The proof of the pudding will be in the eating, and we hope to see assay results fairly soon.
Disclosure: The author has a long position in Regency Silver. Please read our disclaimer.
