RGM.L Regulatory News (RGM)

24 Sep 2007 13:34

Regency Mines PLC24 September 2007 REGENCY MINES PLC Exploration Update Dated: 24th September 2007 Regency Mines plc ("the Company") the mining exploration and mineral investmentcompany with interests in copper and nickel in Papua New Guinea, WesternAustralia, and Queensland, is progressing with exploration at the Company'slateritic Nickel-Cobalt project at Mambare Plateau, Papua New Guinea ("Mambare"). To date 30 auger core holes (CAA 1-30) have been drilled. These holes have beenlocated at 100m intervals on lines 22400, 22800 and 23200N across the previouslyexplored ridge west of the Arumu River. Individual holes range up to 10.3m indepth and total 167m. Limonite laterite has been intersected in all holes. Up to7.65 metres of limonite laterite has been intersected in individual holes.Overlying ash is commonly less than 3m thick. 180 samples have been submitted toan Indonesian laboratory for XRF analyses. One auger core drill has been equipped with hydraulic feed and is currently inuse. Another auger core rig is being rebuilt and equipped with hydraulic feedand a diamond drill bit to effect better penetration, to ensure intersection ofthe complete limonite profile, which the holes drilled to date have failed todo. The Company is sourcing an additional diamond drill rig, since only diamonddrilling will penetrate fully the harder saprolite ore underlying the limonite. The wacker drill encountered early problems which have been addressed byfabricating stronger wacker rods in Australia. These have now arrived in PapuaNew Guinea and are currently in transit to Kokoda. It is anticipated that thewacker drilling will recommence this week. The Company has entered into a Research Services Agreement with the GeneralResearch Institute for Nonferrous Metals (GRINM) of Beijing, China. Thisagreement provides for a three month programme of hydrometallurgical test workon ore from Mambare. Follow up work will be conducted on site leading to processflow recommendations and an economic analysis. Enquiries: Andrew Bell 07766 474849 Red Rock Resources plc Chairman John Simpson 020 7512 0191 ARM Corporate Finance Ltd Nominated Adviser Ron Marshman / John 020 7628 5518 City of London PR Limited Public RelationsGreenhalgh Updates on the Company's activities are regularly posted on its website,www.regency-mines.com. This information is provided by RNS The company news service from the London Stock Exchange