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Sudan Project Update - Area extensions granted
Sudan Project Update - Area extensions granted.
About this update from Corcel Plc
[{"type":"text","content":"\n \nRNS Number : 9103Q Regency Mines PLC 05 September 2014 \n \n\nREGENCY MINES PLC\n \n(\"Regency\" or the \"Company\")\nSudan Project Update - Area Extensions Granted to the Red Sea and Jebel Abyad Concessions \n \n4th September 2014\nRegency Mines Plc (\"Regency\" or the \"Company\"), the natural resources exploration and investment company with interests in oil in the United Kingdom, and nickel and other minerals in Australia, Papua New Guinea and Sudan, is pleased to announce the approval of area extensions to its agromineral concessions in Sudan, where Regency has farm-in rights under an option agreement with International Mineral Resources (Agrominerals Sudan) Ltd (\"IMRAS\").\nPDFs of Figures 1, 2 and 3 referred to below can be accessed using the following: \nhttp://www.rns-pdf.londonstockexchange.com/rns/9103Q_-2014-9-4.pdf\nhttp://www.rns-pdf.londonstockexchange.com/rns/9103Q_1-2014-9-4.pdf\nhttp://www.rns-pdf.londonstockexchange.com/rns/9103Q_2-2014-9-4.pdf\n \nHighlights\n \n· Red Sea concession area expanded by 422.4 km2, to include areas where historic oil well data indicates potassium rich beds (\"potash\") potentially extend to surface\n· Jebel Abyad concession area increased by 5,342 km2 to include additional areas deemed prospective for phosphate, identified from remote sensing studies and on-site exploration work\n \nFollowing applications made earlier this year, area extensions to the RS 9 and Phos 7 concessions have been granted by the Ministry of Minerals. RS 9, known as the \"Red Sea\" concession, has been extended by 422.4 km2 and now totals 499 km2 along the potash-prospective coastline of Sudan. The phosphate exploration concession Phos-7, known as \"Jebel Abyad\" has also been expanded by 5,342 km2 and now totals 31,406 km2. The decision to increase the size of both concessions was made as a direct consequence of positive findings from fieldwork conducted across both concessions by Regency's technical team in 2013 and, at the Red Sea, from the interpretation of historic well data recently acquired.\n \nFIGURE 1: Red sea concession map\nFIGURE 2: Jebel Abyad concession map\nAs reported on the 21st May 2014, the RGM technical team received information from the historic Dungunub-1 petroleum well, drilled in 1962 by ...