Regency owns 41% of license EL1390 covering 256km2 near Kokoda in Papua New Guinea.
Nickel-cobalt laterite deposit in eastern Papua New Guinea
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 (41%) and Battery Metals Pty Ltd (59%). 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.
The joint venture partners are currently planning a ground penetrating radar exploration campaign to be undertaken during 2019.