Regulus Resources Inc. ("Regulus") (TSX VENTURE:REG) is very pleased to announce the signing of an agreement with Corescan S.A.C. of Peru, a member of the Corescan Group of Companies ("Corescan") for the provision of an onsite laboratory at Cajamarca, northern Peru, for the scanning and analysis of drill core and other geological samples from Regulus's AntaKori copper-gold project and surrounding interests.
Corescan's laboratory will acquire high resolution hyperspectral imagery, photography and laser profiler measurements of the core surface, with the data processed and interpreted by Corescan's spectral geology team, delivering detailed alteration information, mineralogical assemblage maps, compositional variations, mineralogical textures and various geotechnical parameters. The utility of this world class, innovative dataset will not only be key to Regulus's ongoing exploration activities in the region, but will positively impact future project development, mine engineering, environmental planning and mineral processing.
Under the scope of the initial contract, Corescan will scan and process ~15,000m of historical drill core and a minimum of 15,000m of new drill core from Regulus's AntaKori project during 2017. Drilling is scheduled to commence prior to the end of March at the AntaKori project and the execution of the Colquirrumi definitive agreement (see Press Release dated January 3rd, 2017) is anticipated within the same time frame.
John Black, Chief Executive Officer of Regulus, commented as follows: "We are very excited to be approaching the initiation of drilling at our AntaKori copper-gold project and to be one of the first companies to have a dedicated Corescan laboratory on site for the duration of a major drilling campaign. The use of Corescan technology will greatly increase the quality and consistency of the geological data that we collect and is very consistent with our policy of best technical practices when we are delineating a major mineral resource. The Corescan laboratory is installed and operating in our Cajamarca core storage facility. We are currently scanning historical drill core but look forward to working with new core in the next few weeks. Additional details of the 2017 drilling campaign will be provided as drilling commences."