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Regulus acquires 70% interest in Colquirrumi claims
The Fly

Regulus acquires 70% interest in Colquirrumi claims

Regulus Resources announced that it has acquired a 70% interest in the Colquirrumi claims. The Colquirrumi claims will be held by a joint-venture with 70% belonging to Regulus and 30% belonging to Compania Minera Colquirrumi S.A., a wholly owned subsidiary of Buenaventura. Regulus will be the operator of the joint venture. The Colquirrumi claims represent approximately 2,571 hectares of mineral rights in a prolific mining district, adjacent to and interfingered with Regulus’ AntaKori property. Regulus had the right to earn up to a 70% interest in the claims by completing 7,500 m of drilling. Buenaventura retained a one-time claw-back whereby it could retain a 70% interest in the claims by paying Regulus $9,000,000 and granting Regulus a 30% interest. Buenaventura did not elect to trigger its claw-back right. Less than 5% of the Colquirrumi claims have been properly explored, however several encouraging mineralized areas were discovered in Regulus’ drill program. Selected highlights of the mineralization encountered can be found below: Hole AK-22-051: 171.95 m of 0.34% Cu, 0.39 g/t Au, 5.58 g/t Ag and 1.41% Zn from 337.35 m depth; 138.30 m of 0.23% Cu, 0.45 g/t Au and 4.27 g/t Ag from 588.90 m depth. Hole AK-22-050: 247.10 m of 0.34% Cu, 0.25 g/t Au and 9.58 g/t Ag from 283.20 m depth; 49.45 m of 0.58% Cu, 0.31 g/t Au and 19.72 g/t Ag from 418.90 m depth. Hole AK-21-047: 286.80 m of 0.29% Cu, 0.21 g/t Au and 7.70 g/t Ag from 383.80 m depth

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