VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 22, 2017) - Regulus Resources Inc. ("Regulus") (TSX VENTURE:REG) is very pleased to announce the signing of an agreement with Corescan S.A.C. of Peru, a member of the Corescan Group of Companies ("Corescan") for the provision of an onsite laboratory at Cajamarca, northern Peru, for the scanning and analysis of drill core and other geological samples from Regulus's AntaKori copper-gold project and surrounding interests.
Corescan's laboratory will acquire high resolution hyperspectral imagery, photography and laser profiler measurements of the core surface, with the data processed and interpreted by Corescan's spectral geology team, delivering detailed alteration information, mineralogical assemblage maps, compositional variations, mineralogical textures and various geotechnical parameters. The utility of this world class, innovative dataset will not only be key to Regulus's ongoing exploration activities in the region, but will positively impact future project development, mine engineering, environmental planning and mineral processing.
Under the scope of the initial contract, Corescan will scan and process ~15,000m of historical drill core and a minimum of 15,000m of new drill core from Regulus's AntaKori project during 2017. Drilling is scheduled to commence prior to the end of March at the AntaKori project and the execution of the Colquirrumi definitive agreement (see Press Release dated January 3rd, 2017) is anticipated within the same time frame.
John Black, Chief Executive Officer of Regulus, commented as follows: "We are very excited to be approaching the initiation of drilling at our AntaKori copper-gold project and to be one of the first companies to have a dedicated Corescan laboratory on site for the duration of a major drilling campaign. The use of Corescan technology will greatly increase the quality and consistency of the geological data that we collect and is very consistent with our policy of best technical practices when we are delineating a major mineral resource. The Corescan laboratory is installed and operating in our Cajamarca core storage facility. We are currently scanning historical drill core but look forward to working with new core in the next few weeks. Additional details of the 2017 drilling campaign will be provided as drilling commences."
About Regulus Resources Inc. (www.regulusresources.com)
Regulus Resources Inc. is an international mineral exploration company run by an experienced technical and management team, with a portfolio of precious and base metal exploration properties located in North and South America. For further information on Regulus Resources Inc., please consult our website.
About Corescan (www.corescan.com.au)
Corescan is global services company specialising in the scanning, analysis and interpretation of drill core, rock chips and other geological samples for the mining, oil and gas, geothermal and geotechnical industries. As a service driven company, Corescan seeks to be the partner of choice for companies that demand greater objectivity, quality, efficiency and return from their investment in drilling.
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Forward Looking Information
Certain statements regarding Regulus, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Regulus expects or anticipates will or may occur in the future, including the proposed exploration and development of the AntaKori project described herein, and management's assessment of future plans and operations and statements with respect to the completion of the anticipated exploration and development programs, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Regulus believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. The forward looking statements contained in this press release are made as of the date hereof and Regulus does not undertake any obligation to publicly update or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities law.