Regulus Resources Inc. (TSX V.REG) was formed in December 2010 in connection with the sale of Antares Minerals Inc. to First Quantum Minerals Ltd. The Antares team responsible for the discovery of the Haquira porphyry copper deposit, which led to the sale of Antares, is seeking to build on that experience and make another major discovery. Regulus was initially established to continue exploration at the 100% held Rio Grande Au-Cu-Mo porphyry project in northern Argentina. The Company put the Rio Grande project on “hold” in 2013 and began pursuing opportunities for new mineral projects with good potential for significant discoveries. In September 2014, the Company completed a merger with Southern Legacy Minerals Inc. (“Southern Legacy”). The primary objective of the merger was to acquire the AntaKori Cu-Au-Ag project in northern Peru, which is now the flagship project for Regulus. The AntaKori project is located near several large-scale gold and copper deposits and has an initial NI 43-101 resource of almost 300 million tonnes with attractive grades of copper and gold. Management is confident that further work will expand the current deposit to a size that will be of interest to major mining companies.
Regulus Resources Inc. (TSX V.REG) is a Canadian exploration company formed in December 2010 under the directorship of the former management of Antares Minerals Inc. (TSX V.ANM); John E. Black, Kevin B. Heather and Mark Wayne. Regulus was created through the spin-out of the Rio Grande Cu-Au project in Argentina along with C$5 million in cash from Antares Minerals in a Plan of Arrangement concluding the sale of Antares to First Quantum Minerals (TSX.FM, UK FQM) for approximately C$650 million; primarily for the giant Haquira Cu-Mo-Au deposit in Peru.On May 16th, 2012, Regulus and Pachamama Resources (TSXV.PMA) successfully concluded their planned merger, thus consolidating their respective 50% interests in the Rio Grande Cu-Au project. The project is now held 100% by Regulus, with no non-government royalties or third party off-take agreements. The announced merger was co-incident with a C$20+ million financing. The financing closed at $26.6 million on March 6, 2012 with the funds held in escrow until the merger was finalized on May 16th, 2012.The primary objective of Regulus is to continue with the evaluation of the giant Rio Grande porphyry Cu-Au system located in the mining friendly province of Salta in the Puna district of NW Argentina. Rio Grande was put on hold during the economic slowdown in late 2008 – early 2009 while the company focused their efforts on accelerating the Haquira project in Peru. After acquiring the 1.2 billion lb Cu-oxide resource at Haquira in 2005, the Antares team made a significant new high-grade porphyry discovery at Haquira East and expanded the resource to 8.1 billion lbs Cu in the Measured and Indicated class, with an additional 5.2 billion lbs in the Inferred class. This large resource lead, First Quantum Minerals in December 2010 to purchase Antares Minerals.The Rio Grande project was reactivated in 2011 by the newly spun-out company Regulus Resources, with the completion of approximately 24 line kilometres of Titan 24 deep-looking geophysics and the commencement of a 15,000m drill program involving two drill rigs capable of 1,000m plus depths. In addition, an extensive set of metallurgical test was started to evaluate the best methodologies to maximize the extraction of Cu, Au, and Ag from the oxide, sulphide, and mixed types of mineralization. Finally, a 43-101 compliant mineral resource, the first to be completed at Rio Grande, showed an initial resource (using a 0.4% CuEQ cut-off) of 55,257,862 tonnes grading 0.342% Cu and 0.359g/t Au in the indicated category and 101,088,174 tonnes grading 0.303% Cu and 0.308g/t Au in the inferred category.Following Antares’ successful monetization of the Haquira asset in Peru and the merger with Pachamama, Regulus Resources maintains significant strategic alliances with Farallon Capital (San Francisco), the International Finance Corporation (IFC; member of the World Bank, Washington DC) and First Quantum Minerals Ltd, which collectively hold an aggregate 24% of the shares of Regulus. Management holds a total of 9.5% of the company.
Company Name | Regulus Resources Inc |
Business Category | Minerals Recycling |
Address | Suite 2300 1177 West Hastings Street Vancouver British Columbia Canada ZIP: V6E 2K3 |
President | Fernando Pickmann |
Year Established | NA |
Employees | NA |
Memberships | NA |
Hours of Operation | NA |
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