Results from geo-chemical sampling work have been returned from five areas that are located just 20 kilometres west of Sirius Resources' Nova nickel-copper deposit in Western Australia.
Having analysed the results, and factored in the strong Versatile Time-Domain Electromagnetic (VTEM max) conductors from an earlier survey, Ram will make further exploration of these anomalies a high priority.
Follow-up ground electro-magnetic work will be undertaken and then, all being well, drilling will take place to further refine the targets.
The latest geo-chemical results have peak values of 116 parts per million (ppm) nickel, 326 ppm chromium, 96.8 ppm copper and 89.9 parts per billion gold.
Regency Mines owns 19.9% of Ram, in addition to a royalty over, and a 20% direct stake in, Ram’s Fraser Range project.
Shares in Regency Mines closed up almost 11% at 0.04p following the news.