Regency Mines PLC (AIM: RGM; Frankfurt: RM4) is quoted
on the Alternative Investment Market of the London Stock
Exchange Ltd in London and on the Frankfurt Exchange.
The company is focused on exploring areas of copper
and nickel potential in Western Australia, Queensland,
and Papua New Guinea.
It seeks to add shareholder value by systematic exploration
and, where appropriate, development of these assets,
and by joint venture, acquisition, and disposal.
Since listing on AIM on 22nd February the company has
been involved in the listings on AIM of Thor Mining
plc (AIM: THR) on 29th June,Red Rock Resources
plc (AIM: RRR),and Greatland Gold plc (AIM: GGP). Regency has
disposed of its shareholdings in Thor, and holds 103.25m
shares in Red Rock (60.1%) and 1.5m shares in Greatland.
The assets held by these companies were not part of
the portfolio held by Regency at the time of its IPO.
The Regency tenement portfolio includes extensive areas
of known mineralization, on some of which exploration
has returned high grades. Exploration of Bundarra has
begun with a soil sampling, mapping and radiometric
analysis programme that yielded significant results,
followed by a 104 hole, 3,033m RAB drilling programme
results of which are being appraised.
In 2006 the company acquired 75% of the Mambare Plateau
lateritic nickel project in Papua New Guinea and has
carried out an initial exploration programme. The resource
potential can be summarized as:
Limonite Ore 200 Mt of 1% nickel and 0.1% cobalt and
Saprolite Ore 200 Mt of 1.25-1.5% nickel.
Mambare, PNG:
 584 sq km
license parts of which explored since 1960s
Central 20 km by 6 km plateau dwarfs better-known
7 by 2 km Wowo plateau
Better apparent
grade and topography than Ramu project under development
Linked to
Oro Bay by gravel and sealed road
1960-71, 240 auger holes, 56 pits, 1 costean
1999 Anaconda estimates in 158 sq km
section 630mt at 0.78% and 200mt at 1.01%, in saprolitic
layer
Bundarra,
Queensland:
An entire
mineral field of 200 sq km now united
6 km x 14 km granodiorite pluton
Small scale Cu production 1900-18 and 1960s-70s
Multiple exploration targets
High grade Cu-Au vein type
Bulk low grade or small breccia-hosted Au-Cu
type
Bulk low grade sheeted vein/stockwork
Cu-Au type
Large IOCG
systems
Mt Stone, Queensland:
200 sq km
Area with known prospectivity for high
grade gold
Nearby Pajingo
and Wirralie gold mines 500,000 oz plus
Epithermal gold target
Significant gold anomalies not followed up
Regional drill intercepts of 8m at 18.1
g/t and 24m at 5 g/t
Maggie Hays, WA:
South Central
Yilgarn Craton – Lake Johnston greenstone belt
105 sq km at Maggie Hays South
Emerging Nickel district; 12,000 tpa Ni from
Emily Ann and Maggie Hays
Archaean ultramafic hosted Ni and Au
Active exploration: Inco/LionOre, Image Resources,
Monarch
New concept
on western edge of belt – greenstones under granite
sheets/sills
Discoveries on Regency boundary
Lake Percy and Cat
Camp, WA:
63 sq km at
Lake Percy
Image Resources
2003 discovery holes 500m-800m away
Adjacent to Lion Ore Sandplain discovery
Continuing exploration
153 sq km at Cat Camp
Little outcrop but recently conductors and some
Ni found nearby
Strike extensions
of greenstone stratigraphy
Adjacent to Image Resources
Mt Gordon and Mt Tay,
WA:
129 sq km
at Mt Gordon and Tay
Extensive gold anomalies near Mt Gordon tenement
Gold anomalies
and bedrock conductors within Tay tenement
Drilling of conductors for Ni encountered 1m
Au at 2.97 g/t
Untested bedrock conductors and gold targets
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Results
announced |
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7 Nov-Regency announced results for year to 30th June 2006
and noted positive prospects for Mambare nickel
project. Audio interview with Chairman available. |
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Exploration
Update |
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14 April 2008- From Mambare, PNG,
an initial fifty kilometre ground-penetrating
radar programme began a week ago along twelve
east-west lines in the south-west of the license
drilled last year. Wacker drilling in the south
of the license across the Arumu River has also
begun. |
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