Skip to main content

Wo Wo Gap

Regency owns a AUD1.7m Debt Position in Resource Mining Corp Ltd; Developer of the Wo Wo Gap Nickel Project in Papua New Guinea

Key Facts

Nickel-Cobalt Deposit in Southeastern New Guinea

JORC Resource of 125 million tonnes @ 01.06% Ni and 00.07% Co (1.33 million tonnes nickel + 83k tonnes of cobalt)

EL1165 - 28 Sub Blocks Totaling 94.4km2


Regency has purchased a 1.7M debt position in ASX listed Resource Mining Corporation Ltd. (ASX:RMI).  Regency retains an option to secure substantially all remaining RMI debt (AUD 3M)

Option price is 23,711,018 new RGM shares + AUD 640k, option runs to Sept ’20 – further extendable

Discussions ongoing with RMI to explore PNG consolidation and expected synergies.


Wowo Gap is located at the south eastern end of the Papuan Ultramafic Belt, a complex of peridotite, pyroxenite and gabbro which form the prominent east-west trending Didana Range, approximately 160km east of Port Moresby.

The project hosts 125 Million tonnes @ 1.06 percent Ni and 0.07 percent Co Indicated Resource Estimate (JORC 2004) within the laterite profile based on drilling along the 12 kilometre strike length.

The nickel mineralisation is associated with a laterite weathering profile developed over the underlying ultramafic geology which has resulted in the enrichment of nickel, cobalt, iron, chromium, magnesium and magnesite.

A complete lateritic profile is preserved, with partial truncation associated with recent drainage systems. The depth of lateritic weathering varies according to rock type and the degree of structural brecciation. The lateritic profile is typically 10 to 15 metres thick, occasionally more than 20 metres.

Resource estimation

2011 Mineral Resource Estimate Mt Nickel (%) Cobalt (%)
Indicated 72 1.03 0.07
Inferred 53 1.09 0.06
Total 125 1.06 0.07
​Contained Metal (kt) 1,325 83

WoWO Gap History

Wowo Gap has a long history of exploration dating back to the 1950s. Here is a timeline of significant exploration milestones at Wowo Gap.

1996 Purchase of Wowo Gap EL1165 by Cobra Resources Limited (now Resource Mining Corporation Limited (ASX:RMI)) held in subsidiary company Niugini Nickel Ltd.
1998 Joint venture with Anaconda Nickel Limited (now Minara Resources Limited (ASX:MRE)) one of the world’s Top 10 nickel producers.
1998 Exploratory diamond drilling adjacent to Bereruma Creek finds samples to contain between 1.2 and 1.7 percent nickel.
1999 Anaconda assigns a Net Present Value (NPV) to Wowo Gap of A$572 million following a Scoping Study into High Pressure Acid Leach (HPAL) development option.
2000 Scout drilling using light weight Wacker rig.
2003-2005 Diamond drilling using man portable drill rigs.
2006 Resource estimate of 120 million tonnes of 1.2 percent nickel and 0.1 percent cobalt published.
2007-2008 Further diamond drilling and ground penetrating radar surveys.
2008 Metallurgical testwork on Heap Leach, Atmospheric Leach and HPAL options.
2008 Inferred mineral resource estimate of 100 million tonnes at 1.02 percent nickel, 0.08 percent cobalt over a strike length of 8 kilometres.
2008 Scoping study identifies mine development options with the most favoured option costing between US$300 and US$600 million with an Internal Rate of Return (IRR) of up to 24 percent based on a Heap Leaching model.
2009 Updated Resource Estimate: Indicated and Inferred resource of 89 million tonnes at 1.01 percent nickel and 0.06 percent cobalt.
2009 Feasibility Study into HPAL development option yielded an NPV of A$272 million and IRR of 16%.
2009 Independent project valuation of A$168 million.
2010-2011 Auger drilling using new light weight man portable drill rigs.
2011 Organic leach technology, metallurgical testwork and Scoping Study commences.
2011 Updated Resource Estimate: Indicated and Inferred Resource Estimate of 125 million tonnes at 1.06 percent nickel and 0.07 percent cobalt.
2014 DSO exploration target announced, auger drilling and Scoping Study commences.
2015 Diamond drilling commences.​


Other Operations and Investments