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Regency Mines PLC
Update re Mambare Project
RNS Number : 1441C
Regency Mines PLC
02 March 2011
Update on Mambare project
2 March 2011
Regency 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 entered into a drilling contract for the next phase of exploration at the Mambare-Botue nickel/cobalt project in Papua New Guinea.
A contract has been signed with JCP Geo-Ex Services Inc. of Cebu, Philippines ("JCP"), to drill a minimum of 220 holes on 100m by 100m and 200m by 400m grids, for a total of 4,000m of drilling. The contract is extendable beyond this initial programme.
JCP will mobilise a minimum of 5 man-portable rigs to site, which are expected to arrive in the week commencing 25 April 2011. Holes will be bottomed in 3m of fresh bedrock. JCP estimate provisionally that the initial programme will complete within 65 days.
Meanwhile, surveying and line-cutting have begun, and preparatory work continues on recruitment, and setting up communications, supplies, and infrastructure. Test-pitting is expected to start in March 2011, with a further ground-penetrating radar programme under discussion and planned for April 2011.
The objective of this drilling is to define and upgrade to JORC Resource category parts of the area drilled in the 2008 campaign by infill drilling, and to conduct reconnaissance drilling to establish the potential of the higher plateau to the North.
http://moneyam.uk-wire.com/cgi-bin/articles/201103020700181441C.html