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Copper|Gold|PROJECT|Projects|Resources|Drilling
Copper|Gold|PROJECT|Projects|Resources|Drilling
copper|gold|project|projects|resources|drilling

Rugby Resources halts Colombia drill programme to assess impact of regulatory change

17th December 2024

By: Creamer Media Reporter

     

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TSX-V-listed Rugby Resources has terminated a planned private placement and postponed plans to drill the Cobrasco copper project, in Colombia, in the coming weeks owing to a change to regulations in the South American country that govern drilling activities in forest reserves.

Rugby will now assess how to move the project forward under the changed rules.

“This regulation change is profoundly disappointing as we were in the process of funding a drilling programme at Cobrasco to begin work in the coming weeks. That programme was designed to demonstrate the scale of the Cobrasco copper project and facilitate longer-term funding for the company.

"In the interim, we will source funding to advance our very prospective gold and silver projects in Argentina. We have considerable experience and success in Argentina, experience that will be applied to potential discoveries at El Zanjon and Venidero," says Rugby CEO Bryce Roxburgh.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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