Regency Mines PLC Findings from Sudan and Ram Resources & DNi update (8645U)
06 December 2013 - 6:01PM
UK Regulatory
TIDMRGM
RNS Number : 8645U
Regency Mines PLC
06 December 2013
Regency Mines Plc
("Regency" or the "Company")
Initial findings from Jebel Abyad, Sudan
Updates on Ram Resources and DNi
6(th) December 2013
Regency Mines plc, ("Regency" or "the Company"), a mining
exploration and mineral investment company with interests in nickel
and other minerals in Australia, Africa and Papua New Guinea is
pleased to announce the completion of a field programme to the
Jebel Abyad concession in Sudan, a project where Regency has
farm-in rights under an option agreement with International Mineral
Resources (Agrominerals Sudan) Ltd ("IMRAS"), and other
updates.
Highlights
-- Confirmation of exploration model at Jebel Abyad
-- Formations of interest identified at Jebel Abyad, samples taken, and results awaited
-- 19.9% owned Ram Resources Ltd (ASX:RMR) identifies 17 VTEM anomalies at Fraser Range
-- Soil sampling survey at Fraser Range to complete this month
-- Process validation report on the DNi ("Direct Nickel Ltd")
lateritic nickel extraction technology near completion
Sudan
Further to the announcement released on 1(st) November, RGM's
technical team has completed the reconnaissance exploration
programme to the Jebel Abyad concession area. The technical team,
supported by an independent consultant with phosphate discovery
expertise, geologists from the Sudanese Ministry of Minerals, and a
Sudanese logistics team, spent 9 days within the Jebel Abyad
concession area exploring for signs of phosphate deposition. Field
activities consisted of geological mapping, soil sampling, handheld
scintillometer readings and ASTER multispectral imagery
analysis.
The exploration model tested and now confirmed was whether the
sedimentary rocks of the Jebel Abyad area, assumed to be Upper
Cretaceous to Eocene in age, represent an embayment along the
southern shore of the Tethyan Ocean, a prolific trend known to host
world class phosphate deposits.
During the expedition 141 rock chip samples and 42 soil samples
were collected, a selection of which have been shipped to ALS
Mineral Laboratories in Ireland for phosphate analysis. Results are
expected in the coming weeks.
The technical team is optimistic about their geological
observations of the concession. Subject to further interpretation,
RGM geologists have identified key geological formations of
interest within the concession area.
Logging and sampling of geological sections and fluoroapatite
anomalies (generated by applying the USGS spectral library to ASTER
satellite imagery) yielded promising results but a thorough
assessment of their value can only be determined once all the assay
results have been received and studied. Pre-sample result
interpretations are encouraging, with the concession's rock package
displaying similar characteristics to other renowned phosphate
deposits such as those at Turayf and Al Jalamid in Saudi Arabia and
Abu Tartur in Egypt.
Pending final laboratory results, due in the next weeks, the
team is currently in planning stages for follow up work in early
2014.
Project Manager Gary Hurst comments: "Despite difficulties
including a breakdown of our XRF analyser in the field we adapted
our programme to concentrate on the eastern side of the Jebel Abyad
feature, and accomplished most of the work planned. The outlook
remains encouraging."
Australia
19.9% owned Ram Resources Ltd ("Ram"), which holds tenements in
the Fraser Range area of Western Australia, near Sirius Resources'
key Nova copper-nickel discovery, has announced the identification
of 17 Versatile Time-domain Electromagnetic (VTEM) anomalies. A
1,363 line kilometre VTEM survey conducted across Ram's tenements,
20 km to the west of Nova, has identified 17 anomalies including 5
high-priority conductors and 2 magnetic anomalies.
A soil sampling programme is now under way to test these
anomalies on a 200m by 200m grid pattern, with results expected
this month.
The full announcement is available on the Australian Stock
Exchange website at:
http://www.asx.com.au/asxpdf/20131205/pdf/42ldzv8hb3wr6h.pdfm
Direct Nickel Ltd
Regency has a nickel-cobalt joint venture with DNi in Papua New
Guinea, which has a license to the DNi technology, and owns c7% of
Direct Nickel Ltd. DNi has been conducting testwork at its pilot
plant in Perth, WA since the beginning of 2013.
The process validation report on the pilot programme is now
nearing completion, with expected delivery during December
2013.
This will enable DNi to progress its partnership with PT Antam
towards feasibility and construction of the first commercial plant
running the DNi process.
Regency Chairman Andrew Bell comments: "This December, we look
to see significant progress made in Sudan, Australia, and DNi. 2013
has not been an easy year but we are ending it strongly".
Enquiries:
Andrew Bell 020 7747 9960 or 07766 Chairman Regency Mines plc
474849
Colin Aaronson/David Hignell 020 NOMAD Grant Thornton UK LLP
7383 5100
Nick Emerson 01483 413500 Broker SI Capital Ltd
Guy Wheatley 02073828416 Joint Broker Beaufort Securities
Rupert Trefgarne 02031288817 Ltd
Media Relations MHP Communications
This information is provided by RNS
The company news service from the London Stock Exchange
END
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