INfill hole bodes well for resource upgrade
Quality emerges at Galan's blue-chip lithium address
SPONSOREDgalan lithium
The holes, part of a campaign to expand and infill resources, returned highlights of 610.2m grading 0.84% copper, 1.02 grams per tonne of gold and 10.28g/t of silver for 1.66% copper equivalent essentially from surface, its longest intercept to date of >1.5% copper equivalent mineralisation.
This sent its stock (TSXV:REG) up 13% Thursday to C$1.55, valuing the company at $141 million.
Quality emerges at Galan's blue-chip lithium address
SPONSOREDgalan lithium
"While this hole was an infill hole, the high-grade material intersected should upgrade our resource estimate at the end of our phase II programme," said CEO John Black.
Commenting via social media, investors said the hole was one of the best ever drilled anywhere in the world and would take 23rd place on the list of top drilling intercepts that Ecuadorean copper explorer Solgold uses to market the potential of its Cascabel project.
A newsletter writer who participated on a recent site visit said even better results could come when drill hole 34 was released.
Regulus expects to double the number of rigs working on Antakori to four within the next month with 4,698m of the 25,000m programme completed. Drilling is now being extended to the north.