The high grade, past producing Dios Padre Silver Project is located in the State of Sonora, Mexico mid-way between Hermosillo, Sonora, and Chihuahua City, Chihuahua. Dios Padre has a 400-year history of mining for silver.
Dios Padre is located in the vicinity of a number of successful mines including Pan American Silver’s Dolores silver mine, Agnico Eagle’s Pinos Altos mine, and Alamos Gold’s Mulatos mine.
Excellent access to infrastructure including a major highway, small plane access, power and skilled labor. Management has been working in the area for the last 18 years.
Dios Padre is a high-grade deposit as evidenced by drill intercepts which include:
Hole FMR 12-06 with 1.9 meters of 3220 g/t silver inside an intercept of 32.5 meters of 408 g/t silver
Hole FMR 17-06 with 5.2 meters of 1145 g/t silver
Hole RDP 18-12 with 12.4 meters of 558 g/t silver
Hole FMR 15-06 with 28.8 meters of 467.8 g/t silver
Regency Silver has compiled the recent drill results and has received an initial NI 43-101 resource estimate which estimates an inferred resource of 9.5 million AgEq (silver equivalent) ounces at an average grade of 236 g/t AgEq at a cutoff grade of 120 g/t AgEq (1.249 million tonnes at 236 g/t AgEq).
The high grade and width of the mineralized zones and the existence of a large IP target indicate the potential for a larger body at depth.
Silver-rich dominant mineralization at Dios Padre is related to at least two phases of brecciation (masses of rock composed of fragments) hosted in rhyolite & rhyolite porphyry (magmatic rock) that has intruded andesite porphyry. The Chargeability IP signature in red below may reflect breccia-hosted silver mineralization within a rhyolite intrusive that extends to depth.
Dios Padre has the potential to become a much larger silver deposit in the event silver mineralization is intercepted within the expected intrusion at the reddest part which starts at a depth of approximately 150 meters below surface.
The post IPO $500,000 drill program, including assays, is designed to test the IP target immediately to the north of the existing workings. 6 holes totaling 1520 meters are planned to test the target.
4 shallow holes totaling 156 meters are planned to test the up-strike extension of the existing resource and increase the existing resource.
The drill program is expected to be completed within 3 months of the Closing Date.