Mr. Bruce Bragagnolo reports
REGENCY SILVER CORP. OPTIONS EL TABLON CLAIMS IN DURANGO STATE, MEXICO
Regency Silver Corp. has entered into an option agreement dated Sept. 22, 2022, to option a 100-per-cent undivided interest in the El Tablon claims located in the state of Durango, Mexico.
The property covers a total of 7,200 hectares and contains numerous artisanal workings and tunnels, which explored many of the veins and veinlets that exist within the concession area.
The El Tablon claims are located within the Sierra Madre occidental prolific gold-silver belt only 16 miles from the historical Tayoltita (San Dimas district), which has historically produced more than 11 million ounces of gold and 582 million ounces of silver and which continues to be active with significant mineral resources.
The El Tablon claims are in a similar geological environment, characterized by the presence of productive rocks of the Lower Volcanic complex, to which subvolcanic felsic rock bodies with stockworks and gold dissemination are found. In addition, the canyons around El Tablon expose many other mineralized zones, and works can be found in the neighbouring mines of the Ventanas, Mala Noche and San Cayetano projects.
A Mexican Council on Natural Resources (CRM) (the precursor to the Mexican Geological Service) report from 2012 indicates the presence of seven veins and breccias in a short space of land, which reported silver grades up to 1,402 grams per tonne, lead up to 2.097 per cent, copper up to 1.381 per cent and gold up to one g/t. One of the samples exceeded 10,000 g/t of silver. The El Tablon claims have potential both for high-grade silver veins and bulk minable high-volume low-grade polymetallic mineralization.
In order to exercise the option, Regency Silver must pay $50,000 (U.S.) on receipt of exchange acceptance, issue a total of one million common shares, and pay back taxes and mining filings on or before March 31, 2024. Regency Silver must also pay a $1-million (U.S.) bonus upon a National Instrument 43-101 resource being published, which estimates the El Tablon claims contain a minimum of 70 million silver equivalent ounces or one million gold ounces in the measured or indicated categories. The shares are subject to a four-month hold period and the agreement is subject to the approval of the TSX Venture Exchange.
About Regency Silver Corp.
Regency Silver is a silver and gold exploration company focused on the Americas. Regency Silver is led by a team of experienced professionals with expertise in both exploration and production. Regency Silver's flagship project is the Dios Padre silver project in Sonora, Mexico.
The technical information contained in this news release has been reviewed by company director Michael Tucker, PGeo, who is recognized as a qualified person under the guidelines of National Instrument 43-101. Mr. Tucker is a director of the company and for that reason is not considered independent. Mr. Tucker has read and approved the technical contents of this news release.
We seek Safe Harbor.
© 2022 Canjex Publishing Ltd. All rights reserved.