15 Oct 2014 07:00
Regency Mines Plc
("Regency" or the "Company")
Sudan Update - Mobilisation to Red Sea Block
15th October 2014
Regency Mines Plc, ("Regency" or "the Company"), the natural resources exploration company with interests in oil in the United Kingdom and United States, and nickel and other minerals in Australia, Papua New Guinea and Sudan, is pleased to announce the mobilisation of a field programme to the Red Sea concession in Sudan, a project where Regency has farm-in rights under an option agreement with International Mineral Resources (Agrominerals Sudan) Ltd ("IMRAS").
A team led by Regency geologists has been mobilised to Sudan to spend two weeks on-site carrying out exploration work on the Red Sea potash prospect. The primary goal of the programme is to generate potassium anomalies for future drill testing. The team plans to achieve this by developing a better understanding of the 3D geometry of the Dungunab Formation, within which potassium-rich salts are indicated in historic oil well records and cross-sections. Work will include geological mapping, sampling, handheld XRF analysis, ground radiometrics, auger drilling, pitting and trenching. All samples considered prospective for potash will undergo laboratory analysis.
The team will be based from 4-wheel drive mobilised field camps for the duration of the trip and will be working with geologists from the Sudanese Ministry of Minerals.
Figure 1 Red Sea concession location map
http://www.rns-pdf.londonstockexchange.com/rns/3171U_-2014-10-14.pdf
Figure 2 Red Sea concession map
http://www.rns-pdf.londonstockexchange.com/rns/3171U_1-2014-10-14.pdf
Andrew Bell, the Company's Chairman, commented:
"Since our last visit to the Red Sea, Regency has gained valuable insights into both the geology and the prospectivity of the concession through the acquisition of historic well log data, reports and ASTER satellite imagery. The programme now underway will build on that knowledge in an essential next step to progress the project towards drill targeting of what we hope will be economically significant potash deposits. The location of the project, only kilometres from the Red Sea coast and near a major port, positions it well to supply key agromineral markets in India and China."
For further information, please contact:
Andrew Bell 0207 747 9960 or 0776 647 4849 | Chairman Regency Mines Plc |
Roland Cornish/Rosalind Hill Abrahams 0207 628 3396 | NOMAD Beaumont Cornish Limited |
Jason Robertson 0129 351 7744 | Broker Dowgate Capital Stockbrokers Ltd. |
Rupert Trefgarne 0203 128 8817 | Media Relations MHP Communications |