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Regency Mines to check out new data at Jebel Abyed


Things are progressing at Regency Mines' (LON:RGM) recently launched field programme at the Jebel Abyed concession in Sudan.

The geologists left Khartoum on Friday for Jebel Abyed to begin the traverse and sampling programme, having located further information not previously seen, including a report by the national Moroccan phosphates company, Office Chérifien des Phosphates (OCP), confirming phosphogenesis at Jebel Abyed.

In February 2012 the OCP visited Jebel Abyed where they appear to have made logs and taken a small number of samples from scarp sections on the sides of hills and wadis. Three samples testing over 1% phosphate, including one at 6.5%, are reported at identified locations.

The team intends to visit these locations to repeat the sampling and verify the information.

"The confirmation from this source that the Jebel Abyed area has seen phosphogenesis and the fact that on a cursory trip it was possible to identify significant grades of phosphate in isolated samples is encouraging and confirms the potential," said Andrew Bell, Regency's chairman.

"On return to Khartoum we also intend to inspect detailed logs from oil drilling in the vicinity of our Red Sea licence to verify summary log information showing a significant potash horizon which may come near surface in our licence area.

"Our emphasis is on cost-effective exploration and to have identified significant potash and phosphate potential, besides gypsum, at this early stage would, if confirmed, be a considerable achievement by our geologists."

Jebel Abyed is a project where Regency has farm-in rights under an option agreement with International Mineral Resources.

The firm's geologists are intending to spend three weeks at the Jebel Abyed concession in Sudan carrying out preliminary phosphate exploration work.

The main aim of the trip is to reduce the size of the target and to discover phosphate occurrences.

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Price: 0.9 GBX

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Market Cap: £1.71 m

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