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Exploration Licence Application - Mambare
Exploration Licence Application - Mambare.
About this update from Corcel Plc
[{"type":"text","content":"\n \n\n\n\n\n\nRNS Number : 6450B Regency Mines PLC 22 February 2011 \n \n\nRegency Mines PLC\n('Regency', 'Regency Mines' or the 'Company')\nExploration Licence Application\nPotential Geothermal Energy Source for the Mambare Nickel JV\n \n22 February 2011\n \nRegency Mines, the mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, is pleased to announce that the Joint Venture between Direct Nickel Ltd (\"DNi\") and Regency (the \"JV\"), operating through the JV's Papua New Guinea (\"PNG\") subsidiary Canopus No 83 Ltd has today filed an Exploration Licence Application (\"ELA\") with the Mineral Resources Authority (\"MRA\") of PNG covering the Mount Lamington and Hydrographers Range volcanic areas.\nThis application has been filed to explore the region for geothermal heat, which could provide cheap, renewable energy for process heat and electrical energy for use in any future mine and DNi Process plant the JV may build at the Mambare Nickel Laterite Project. Exploration will also assess the potential of any other minerals discovered within the application area.\nThe ELA covers an area of 1473km2, which includes the north-eastern half of Mt. Lamington and the whole of the Hydrographers Ranges and Managlase volcanic centres. Mt. Lamington is located 45km east of the Mambare project area and 20km southeast of the regional centre of Popondetta. The two volcanic centres are located 25km east-southeast of Mt. Lamington, and close to the deepwater port of Oro Bay, giving a strong economic advantage to any mine at Mambare, being accessable across benign coastal plains rather than the steep ranges that are more typical to PNG. Hydrographers Range is a large volcano that has been active within the last 10,000 years. The Mangalase Plateau area contains around 30 volcanic vents and is considered prospective for geothermal heat.\nGeothermal heat is a green energy source and could significantly lower the operating costs of any future mine and DNi Process plant serving the Mambare Project. It also has the potential to provide power to greater Oro Province and to reduce the district's dependence on imported fossil fuels. Geothermal energy production is an established energy source increasingly used for power gene...