CORCEL PLC — Regulatory Filings 2014

Aug 26, 2014

National Storage Mechanism | Additional information

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RNS Number : 0068Q

Regency Mines PLC

26 August 2014

REGENCY MINES PLC

("Regency" or the "Company")

Sudan Project Update - Jebel Abyad ASTER Study

26th August 2014

Regency 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 preliminary results of a phosphate-oriented ASTER (Advanced Spaceborne Thermal Emission and Reflection Radiometer)  targeting study across the Jebel Abyad concession in Sudan, a project where Regency has farm-in rights under an option agreement with International Mineral Resources (Agrominerals Sudan) Ltd ("IMRAS").

Highlights

·     8 high priority targets identified - areas of anomalous phosphorous potential

·     Multiple secondary targets identified

·     Petrological study of a sample collected during 2013 field trip identified phosphorous assemblages commonly found in phosphate deposits

·     ASTER analysis provides an efficient and cost effective approach to targeting of potential anomalies across a wide area

·     Plans for the next field programme to Jebel Abyad currently under review

Regency carried out an ASTER study across its 26,064 sq km Jebel Abyad concession (Figure 1) to define target areas of potential phosphate anomalies for follow up ground work.

FIGURE 1: SUDAN LOCATION MAP

http://www.rns-pdf.londonstockexchange.com/rns/0068Q_-2014-8-26.pdf

Regency is pleased to announce that as a result of the study, 8 high priority exploration targets have been identified, with multiple secondary targets also highlighted. The next stages of exploration planning will focus on ground verification of those targets (Figure 2).

FIGURE 2: ASTER HIGH PRIORITY TARGET AREAS

http://www.rns-pdf.londonstockexchange.com/rns/0068Q_1-2014-8-26.pdf

ASTER is a satellite sensor launched in 1999 that continuously captures electromagnetic data from the earth's surface globally. ASTER data is collected in 14 different bands of the electromagnetic spectrum. By analysing those bands in various ways (colour composites, band ratios and spectral indices), specific electromagnetic signatures can be recognised and used as evidence of surface chemistry, a technique that has been widely applied in mineral exploration to aid geological mapping and targeting of mineralisation.

Remote sensing specialists HME Partnership were commissioned to assess 12 ASTER scenes covering the concession area and create indices appropriate for phosphorous targeting, producing a series of images in which pixel colours imply relevant surface geochemistry. Regency then carried out detailed in-house GIS analysis of all images, layered with geological and geochemical data gathered during the 2013 field trip. Additional criteria assessed included geological strata, topography, dominant wind and drainage patterns and sediment transport to filter out false anomalies (e.g. transported sediment or iron oxide weathering). The most prospective anomalous zones have been designated as priority target areas for the next field excursion.

A presentation outlining the ASTER targeting process and the results of the study is available on the Company's website. Please select the following link:

http://www.regency-mines.com/files/6914/0904/7100/ASTER_Pres.pdf

The highest density of ASTER anomalies were concentrated along the same geological contact (Tam/Tal) that was targeted and sampled during the 2013 Jebel Abyad field trip. Although only a few select locations were visited from the estimated >300km of exposed contact, the samples collected were found to contain anomalous phosphate grades.

Alongside the ASTER study, Regency also commissioned consultants from the London Natural History Museum to carry out petrological analysis on a sample collected from the Tam/Tal contact during the 2013 field trip. Their findings identified apatite in microscopic fragments of fossilised fish scales and bones - an assemblage commonly seen in phosphate deposits.

Andrew Bell, the Company's Chairman, commented:

"In November 2013, Regency carried out a brief ASTER study across the Jebel Abyad concession, which proved valuable in directing the field team to phosphate bearing rocks during their field visit. Building on this earlier work the Sudan team has now completed a more detailed study to refine the areas for follow up ground investigation.

This technique is a cost effective approach, using appropriate advanced technologies and our own proprietary work, identifying areas of interest within our 26,000 sq km concession area, progressing the Sudan project towards drill targets and leading we hope to a mineral resource estimate.  We will be following up the ASTER effort with additional ground investigations."

For further information contact:

Andrew Bell 0207 747 9960 or 0776 647 4849                            Chairman Regency Mines Plc

Colin Aaronson / David Hignell 0207 383 5100                         NOMAD Grant Thornton UK LLP

Jason Robertson 01293 517744                                                   Broker Dowgate Capital Stockbrokers Ltd 

Rupert Trefgarne 0203 128 8817                                                  Media Relations MHP Communications

This information is provided by RNS

The company news service from the London Stock Exchange

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