17 Feb 2014 17:52
REGENCY MINES PLC
("Regency" or the "Company")
Ram Resources launches Fraser Range North Project
17 February 2014
Regency Mines Plc ("Regency" or the "Company"), the mining exploration and mineral investment company with interests in nickel and other minerals in Australia, Papua New Guinea and Sudan, reports, further to the announcements on 29 January 2014 and 6 December 2013, that its associate company Ram Resources Ltd (ASX:RMR)("Ram") has today announced the acquisition of options over five new tenements, creating the Fraser Range North Project.
Highlights
· Ram secures option to acquire five tenements totalling 163 sq km in the Fraser Range nickel-copper belt
· These tenements lie approximately150km north of both Ram's existing Fraser Range Project and Sirius Resources' Nova nickel-copper deposit
· Soil anomalies from historic auger drill programmes include 282ppm nickel, 928ppm arsenic, 87ppm cobalt, 75ppm copper, 238ppb lead and 53ppb platinum
During the two-year term, Ram will undertake an exploration programme to assess the potential of the Fraser Range North Project. This programme will be undertaken in parallel with Ram's existing activities at its Fraser Range project.
Ram's Managing Director Bill Guy stated that the option over the additional five tenements gave the company promising exploration prospects on both sides of the Fraser Range belt: "This belt is arguably the hottest exploration ground in Australia at the moment and we have a significant land holding on both sides," Mr Guy said.
Background on Ram and the Fraser Range Project
Ram (ASX:RMR) is a company in which Regency owns 18.2%, in addition to a royalty over, and a 20% carried interest in, its Fraser Range project, located near the Sirius Resources' Nova deposit in Western Australia.
The full announcement is available to read at:
http://www.asx.com.au/asxpdf/20140217/pdf/42mrq08q97w42k.pdf
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