Regency owns 50% of license EL1390 covering 256km2 near Kokoda in Papua New Guinea.
Nickel-cobalt laterite deposit in eastern Papua New Guinea, adjacent to the Kokoda Trail
JORC Resource of 162.5 million tonnes @ 0.94% Ni and 0.09% Co (1.53 million tonnes of nickel)
Single licence (nickel, cobalt): EL1390 – Mambare (JORC Resource), 256km2
100% owned by Oro Nickel – a joint-venture between Regency Mines plc (50%) and Direct Nickel Ltd (50%). The project is licensed to use Direct Nickel’s revolutionary nickel laterite treatment process.
Location and geology
The licence is located in the Oro province in PNG 100km NE of Port Moresby near the Kokoda village. The weathered ultramafic bedrock has formed significant layers of nickel and cobalt bearing lateritic and saprolitic material which is overlain by volcanic ash up to about 6m thick.
With ‹3% of Mambare’s 80 sq km main target (plateau) tested by drill to date, the project potentially holds one of the world’s largest nickel laterite deposits. Licensed to apply Direct Nickel’s revolutionary nickel laterite treatment process, the pairing of massive scale and low-cost processing makes a highly compelling value proposition. With Direct Nickel’s treatment process currently undergoing final refinement test phases joint-venture efforts are focussed on exploring various options to take Mambare forward, including bringing in a major strategic investor, to help deliver the exciting promise the project has on offer.