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Drilling
From 2001 to 2012 a total of 74,210 metres of drilling in 130 drill holes was completed at the Rio Grande project. The location and collar information of each hole is presented in Table 1 and Figure 1. All of the significant drill hole intercepts (using a 0.2% CuT cut-off) are reported in Table 2a to 2e. A short drilling program was completed at the nearby Cerro Cori target in 2013-14 (1,200 m in 4 holes). Results from those drill programs have previously been released by Regulus.
Regulus suspended drilling activity at the Rio Grande Project in late 2012 to conserve cash and re-evaluate the exploration strategy in light of challenging market conditions. During 2015 and early 2016, a major project data review was completed including re-logging of all drill core from the project. After completion of this data review, management believes that further exploration at depth is merited. The June 2016 acquisition of Goldrock Mines Corp. and its Lindero gold project by Fortuna Silver Mines Inc. may have an impact on future exploration and possible development at the Rio Grande Project. The Lindero gold project is located approximately 10 km from the Rio Grande project and Fortuna Silver has announced it is in production.
