Regency Silver Corp Announces $2.5 Million Financing to Advance Dios Padre Drilling Program
25.07.2024 | NewsDirect
Regency Silver Corp. Executive Chairman Bruce Bragagnolo joined Steve Darling from Proactive to announce that the company has successfully arranged a non-brokered private placement, subject to regulatory approval, for gross proceeds of up to 2.5 million dollars. This significant financing effort underscores the company's commitment to advancing its exploration activities.Bragagnolo expressed the company's excitement about continuing their drilling program at the Dios Padre project. The drill crew is set to mobilize immediately upon the closure of this financing round. He highlighted that the drilling results to date have been promising, indicating the presence of a high-grade, high-sulphidation gold-copper-silver system that is proximal to a porphyry source.
Previous drill results have been particularly encouraging. Hole REG-23-21 intersected 54.65 meters of 5.34 g/t gold, including a notable 7.36 g/t over 38 meters in a 65-meter step-out along strike to the southeast from the discovery hole REG-22-01. The discovery hole itself had returned impressive figures of 35.8 meters of 6.84 g/t gold, 0.88% copper, and 21.82 g/t silver. Additionally, Hole REG-23-14 intersected 35.9 meters of 5.51 g/t gold.
These results continue to bolster Regency Silver Corp's confidence in the Dios Padre project's potential. The company is poised to further explore and validate this promising high-grade mineralization system, aiming to capitalize on its substantial economic potential. The successful completion of this financing will enable Regency Silver Corp to advance its drilling activities and continue generating value for its shareholders.
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