Regency Silver Corp has successfully arranged a non-brokered private placement, subject to regulatory approval, securing gross proceeds of up to $2.5 million. This financing effort is a significant step for the company as it aims to advance its exploration activities at the Dios Padre project.
Executive Chairman Bruce Bragagnolo expressed the company's enthusiasm for continuing the drilling program at Dios Padre. The drill crew is set to mobilize immediately upon the closure of the financing round. Bragagnolo emphasized the promising drilling results to date, which indicate the presence of a high-grade, high-sulphidation gold-copper-silver system near 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 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.
