Business
Exploration Update - Mambare
Exploration Update - Mambare.
About this update from Corcel Plc
[{"type":"text","content":"\n RNS Number : 8831Z Regency Mines PLC 25 July 2008 \n \nREGENCY MINES PLC\nExploration Update - Mambare\n\nDated: 25 July 2008\nRegency Mines plc ('the Company') the mining exploration and mineral investment company with interests in copper and nickel in Western Australia, Queensland, and Papua New Guinea, announces recent developments at its Mambare lateritic nickel-cobalt project in Oro Province, Papua New Guinea ('Mambare').\n\nThe ground-penetrating radar ('GPR') programme was concluded during early April and early to mid-May 2008. The work was carried out by Jan C. Francké, and given the anticipated depth of penetration requirements an advanced radar system known as UltraGPR available for application testing since early 2008 was utilised. Jan. Francké has surveyed over 60 nickel laterite sites with GPR technology over the last 17 years.\n\nA total of 51.2 km of UltraGPR data were acquired over eleven profiles, ranging in length from 2.2 km to over 10 km:\n\n\n\n\n\nLine\n\n\nDistance\n\n\n\n\n9021600\n\n\n2990\n\n\n\n\n9022000\n\n\n2464\n\n\n\n\n9022400\n\n\n3964\n\n\n\n\n9022800\n\n\n4222\n\n\n\n\n9023200\n\n\n5124\n\n\n\n\n9023600\n\n\n3624\n\n\n\n\n9024000\n\n\n6268\n\n\n\n\n9024400\n\n\n6230\n\n\n\n\n9024800\n\n\n5982\n\n\n\n\n9025600\n\n\n10206\n\n\n\n\n9026000\n\n\n2190\n\n\n\n\n\nThe Mambare Plateau is an elevated 20 by 7 km paleo-plateau west of the Ajule-Kajale Range, developed in ultramafics. To the east, these ultramafics are overlain by gabbroic rocks and submarine basaltic volcanics. The plateau has previously been explored since the 1960s by various groups, including the Homestake-Hanna Syndicate, Amax Mining Inc, Southern Mining & Development Co. Ltd and PNG Nickel Ltd. Between 1960 and 1971, 240 Auger holes were drilled, and 56 pits and one costean dug. In 1999 Anaconda Nickel Ltd reviewed the data over a 158 sq km area of the Mambare Plateau and estimated two limonite resource potentials: 630 Mt at 0.78% nickel with a 0.5% cut-off and 200 Mt at 1.01% nickel with a 0.8% cut-off.\n\nMuch of the previous auger drilling and pitting, and most of the Company's 2007 drilling, were too shallow to test adequately the limonite ore, and in many cases failed to encounte...