Paisano/Pamela Gold Project
- Regency Silver has staked the Pamela and Paisano claims in the prolific La Libertad Mining District of Peru. The claims cover an area of 3,700 Ha.
- The property is strategically located in north-central Peru next to Pan American Silver’s La Arena open pit mine and close to Barrick’s Lagunas Norte open pit mine. (See map)
- June 09, 2022 – Regency Silver Corp. (“Regency Silver” TSXV- RSMX or the “Company”) is pleased to announce that it has entered into an option agreement with AsiaBaseMetals Inc. (“AsiaBaseMetals”) (TSX-V: “ABZ”) to sell a 70% interest in its wholly owned Paisano Gold Project, covering approximately 2,700 hectares in the prolific La Libertad Mining District, a district hosting several multi-million oz precious metals deposits, in North-Central Peru (the "Property"). Property Option Terms: AsiaBaseMetals may earn a 70% interest in the Property by making cash payments to keep the Property in good standing of approximately US$3 per hectare over the next three years commencing in 2023, issuing to Regency a total of 250,000 common shares over three years; and incurring at least CDN$1,000,000 in exploration expenditures on the Property by expending the sum of CDN$200,000 on or before May 25, 2024, and the additional sum of CDN$800,000 on or before May 25, 2025
- La Arena is an open-pit, heap leach gold mine with sulphide expansion potential. End 2019 reserves were 447koz and 2019 production was 122.5koz with cash cost of $644/oz
- Paisano is located 3 km from Barrick’s Lagunas Norte mine which produced 245,000 ounces of gold in 2018 at a grade of 1.35 g/t. Lagunas Norte has produced approximately 9.25M ounces of gold.(Source: www.barrick.com)
Regency Silver does not have an interest in any of the projects owned by Pan American or Barrick noted herein. Information about those properties is not necessarily indicative of mineralization at Paisano/Pamela.