Renowned Mining Team Just Delivered In A Big Way
Editorial Feature | Oct 11, 2023 | Industry
This esteemed executive’s latest exploration results could amount to one of the best discoveries in the recent history of the Sierra Madre.
- Investors who follow the name Bruce Bragagnolo know what to expect when it comes to his track record with mining ventures, but what he just found could be bigger than his last 100,000-ounce-a-year gold mine.
- According to Regency Corp.’s (TSXV:RSMX) (OTCQB:RSMXF)(TSXV:RSMX) (OTCQB:RSMXF)
recent assay results, they could be seeing 10X to 15X more gold per ton than the company’s closest competitors… as much as 71% more than other world-class discoveries. That’s on top of sizable grades of copper and silver, making it one of the richest discoveries in recent Mexican history.
Drill results near a past-producing silver mine in Mexico has a group of seasoned mining executives turning cartwheels. One of which is legendary gold and silver explorer, Bruce Bragagnolo.
He’s familiar with success, such as when he founded Timmins Gold, then oversaw its rise to becoming a 100,000+ ounce-of-gold-a-year producer.1
So, you can imagine there’s something substantial in motion when these normally reticent men get excited.
It began in August of 2022 when they located what appeared to be a large-mineralized zone just 1,600 feet from the historic Dios Padre silver mine. Operations at this mine go back to the 1600’s, but none of the project’s prior prospectors had detected this large anomaly.
What had been recovered near surface at Dios Padre suggested that this could be a zone hosting a large new discovery of gold, copper, and silver.
Experience told Mr. Bragagnolo that despite a production history of high grade silver and obvious development potential, exploration drilling at the existing silver mine site was off target.
Previous mine site operators drilled thousands of feet, trying to locate the mother lode at the source of the silver-rich surface. Everyone knew that it had to be there, they just never found it.
Their failures are what caught his attention.
They’d been drilling below the historic mine where they had been producing silver near surface.
Knowing the geology of the Sierra Madre Occidental as he did, and using the latest exploration software, Mr. Bragagnolo suspected that the volcanic source that fed precious metals to the surface at Dios Padre was beneath the anomaly and flowing laterally, not vertically as the others had presumed.
While this flew in the face of conventional wisdom, the following illustration explains his well-founded hypothesis.
A 250-meter-deep ground-penetrating Induced Polarization (IP) survey confirmed its existence, leading to a drill program the company started in the summer of 2022.
More Than Just Silver At Dios Padre
When Regency’s drills punched through a fault underneath the anomaly, they entered a zone of high sulfidation which contained rich concentrations of gold and copper. The drilling revealed what could shape up to be one of the largest new gold and copper discoveries in Mexico in years.
The initial grades of gold and copper are sizable.
The drill samples at Dios Padre suggest a vast swath of underground gold with copper in very high concentrations.
Regency found a massive 36-meter-wide zone of 6.84 g/t gold, 0.88% copper, and 21.8 g/t silver, along with 13.97 g/t gold, 50.25 g/t silver and 1.11 % copper over 9.8 meters, starting at 460.5 meters down. At 460 meters they even found 53.5 g/t of gold, 1.2% copper and 53.5 g/t of silver over 1 meter. Just to offer some perspective on the scale of this discovery, 36 meters is the size of a ten story building.
That well exceeds, by as much as 71%, the upper limit the World Gold Council sets to define an open pit mine as World Class.
This will not be an open pit but it shows how rich the mineralization is.
Additional extension drilling to the east of the existing mine garnered very high grades of silver and gold:
- 582.47 g/t silver over 3.9 meters
- 558.30 g/t silver over 5.85 meters
- 420.23 g/t silver over 3.10 meters
- 1.34 g/t gold over 17.9 meters
Regency followed up with more drilling in 2023 and in April announced 2 follow up holes down-dip from hole REG-22-01 intersect wide zones of gold and copper mineralization. REG-23-14 intersects 35.9m of 5.51 g/t Au including 29.4m of 6.32 g/t Au ~25m down-dip from REG-22-01. REG-23-15, which is ~ 65m down-dip from REG-23-14 and ~90m down-dip from REG-22-01 intersects 128.35m of 0.84 g/t Au including 57.95m of 1.49 g/t Au and 32.5m of 2.23 g/t Au.
What makes this so unique is the high gold content along with copper and silver. Time and more exploration will reveal the size of this deposit, but there’s a sense among experts in the mining community that the Dios Padre project could be a large find.
That’s what Regency Corp. (TSXV:RSMX) (OTCQB:RSMXF) has set out to discover with a follow up exploration program that started in early January of 2023. Assay results from 7 more holes are expected soon.
Nearby mining operations producing within the same Sierra Madre gold/silver trend confirm the existence of large deposits.
Pan American Silver (NASDAQ $6.075B) reports that its Dolores open-pit mine produced 2.24 million ounces of silver and 136,000 ounces of gold in 2022. The company also reports that Dolores contains 11 million ounces of silver and 313,000 ounces of gold in unmined, proven and probable reserves.1
Alamos Gold’s (NYSE $5.13B) Mulatos gold mining operation produced more than 2.3 million ounces of gold to date with 135,000 ounces reported in 2022.2
Agnico Eagle’s (NYSE $26B) La India mine produced 74,000 oz of gold and 429,000 oz of silver in 2022. That same year its Pinos Altos mine produced 99,552 oz gold and 1 million oz silver.3
From Startup To Hundred-Million-Dollar Market Caps
Regency was founded by CEO Bruce Bragagnolo who’s already famous for three legendary Mexican mines he grew from startups. It’s not hyperbole to say that his first three projects knocked it out of the park.
The first was Silvermex Resources. Mr. Bragagnolo launched it with an initial $7 million market cap and guided the company to a peak market capitalization of $170 million.
By mid-2012, First Majestic Silver acquired Silvermex, which put First Majestic on track to become the $3+ billion producer it is today and listed on the New York Stock Exchange.
The second project was the aforementioned Timmins Gold.
Also from a $7 million start, Mr. Bragagnolo launched Timmins Gold, overseeing its growth from a junior exploration company to a 100,000 ounce/year gold producer that achieved a peak market capitalization of over $450 million!4
Mr. Bragagnolo was also a director of Continuum Resources Ltd. when it acquired the San Jose Mine in Oaxaca, Mexico. Continuum Resources Ltd. merged with Fortuna Silver in 2004 and the San Jose Mine is now its flagship asset with 2022 production of 5.76 million ounces of silver and 34,000 ounces of gold.
And now it looks as if Mr. Bragagnolo could dwarf the success he had at Timmins Gold.
But here’s where it gets very interesting.
Regency (TSXV:RSMX) (OTCQB:RSMXF) could not initially begin to assess the depth of mineralization because…
The drill it used for the exploration only went 1,640 feet (500 meters) deep. It has now brought in a much larger rig that can drill below 1000 meters.
It has also just finished the ground program of a higher resolution, 3D Induced Polarization (IP) survey using the latest in technology that can also see down to 1,000 metres. Initial indications are that Regency is drilling into a large, long lived magmatic-hydrothermal Au-Cu-Ag system with multiple overprinting events.
Bruce Bragagnolo stated ,”Our drill and IP programs are designed to verify management’s model of a large, district scale magmatic-hydrothermal gold-copper-silver system.”
And the timing couldn’t be more strategic, as many of Mexico’s leading precious metals producers see signs of a drop off in grades and ounces at existing projects.
Declining Grades Plague Mexico’s Leading Gold Producers
Mexico is Latin America’s largest gold producer, with output of 3.87 million ounces in 2022, but its leading mining companies are in need of adding ounces to their balance sheet.2
In fact, many of Mexico’s leading miners have seen lower output over the last few years, so much so that the country’s overall output is down 10%3.
- Newmont Gold’s Penasquito’s mine saw its average grades go from 0.82 g/t from 0.63 g/t.4
- At Argonaut’s huge La Colorada mine complex the average gold grade is 0.63 g/t.5
- Azucar Minerals’ massive El Cobre project has an average grade between 0.49 g/t Au and 0.42 g/t Au.
The lower grades have also affected Mexico’s second largest miner.
- Fresnillo Plc., saw the first quarter gold production at its famous Herradura mine decrease by 8.5% 6.
Moreover, its first half gold production there decreased 17% due to ore grade. Fresnillo reported its gold ore grade is expected to remain in the range of 0.65- 0.75 g/t in 2023.7
This bodes well for Regency’s major discovery, as it could offer these established producers much-needed ounces.
5 Reasons To Put Regency (TSXV:RSMX)(OTCQB:RSMXF) On Your Radar Now
- Regency’s major discovery could translate into a large gold and copper deposit at its Dios Padre project.
- That would be no surprise to investors who follow Regency’s CEO, Bruce Bragagnolo who founded and oversaw Timmins Gold’s output to more than 100,000 ounces a year. Its market cap soared from $7 million to nearly $450 million
- Most Mexican gold projects have just barely sustainable grades, such as 0.64 grams per metric ton. Regency’s discovery suggests that it is sitting on a deposit that features mineralization with grades of 6.84 g/t gold, 0.88% copper and 21.8 g/t silver over the width of a ten story building. The beauty of Dios Padre is that Regency doesn’t have to find higher grade or width, they just have to find more of the same material. Recent drilling has discovered more of the same mineralization.
- Prior exploration at Dios Padre was looking for silver extensions near the historical mine, but the main source was never discovered. Regency reinterpreted the Induced Polarization (IP) surveys of the area immediately adjacent to the existing Dios Padre mine site. The team’s new insights into the surveys indicated evidence of a large, unexplored formation that lies only 1,600 feet to the north of the mine. Their recent drill results have provided conclusive evidence which they are now following up.
- Judging by the new discovery, as well as silver extensions, Regency could be drilling into a very large system with high grade mineralization. Positive results from ongoing drilling should lead to a dramatic impact on Regency’s market valuation.
Regency holds significant potential for gains typical of a successful junior exploration company. The key to unlocking its potential is to launch your research and due diligence without delay.
This could be a short-lived entry opportunity as Regency is drilling on an ongoing basis and is soon about to release the results of seven more drill holes.
Precious metal investors are already keenly focused along the Sierra Madre Occidental. This is the largest silver-producing region in the world today and new discoveries can trigger a flood of funds flowing to new discovery. With Bruce Bragagnolo’s, past successes already well known, Regency is definitely a company to watch.
Now is the time to dig deeper into the significant potential of Regency (TSXV:RSMX) (OTCQB:RSMXF)(TSXV:RSMX) (OTCQB:RSMXF).
You can begin your due diligence at the company website.
1https://asiabasemetals.com/corporate/board-of-directors/bruce-bragagnolo/
2 https://www.bnamericas.com/en/features/gold-miners-in-mexico-hit-by-lower-grades
3 https://www.bnamericas.com/en/features/gold-miners-in-mexico-hit-by-lower-grades
4 https://www.bnamericas.com/en/features/output-at-top-latam-gold-mines-falls-on-grade-decline
5 https://www.argonautgold.com/English/assets/operations/la-colorada/default.aspx
6 http://www.fresnilloplc.com/what-we-do/mines-in-operation/herradura/
7 http://www.fresnilloplc.com/what-we-do/mines-in-operation/herradura/
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This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding Regency Silver Corp. future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Regency Silver Corp. industry; (b) market opportunity; (c) Regency Silver Corp. business plans and strategies; (d) services that Regency Silver Corp. intends to offer; (e) Regency Silver Corp. milestone projections and targets; (f) Regency Silver Corp. expectations regarding receipt of approval for regulatory applications; (g) Regency Silver Corp. intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Regency Silver Corp. expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Regency Silver Corp. business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Regency Silver Corp. ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Regency Silver Corp. ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) Regency Silver Corp. ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Regency Silver Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Regency Silver Corp. operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Regency Silver Corp. business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Regency Silver Corp. business operations (e) Regency Silver Corp. may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.
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