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Regency Mines geologists set to explore Red Sea potash project

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Regency Mines (LON:RGM) has told investors that geologists are on their way to the Red Sea concession, in Sudan, for a field programme.

The team will spend two weeks on-site where it will explore the Red Sea potash project.

Efforts will be focused on identifying potassium anomalies for future drilling.

The AIM company said the exploration work will include geological mapping, sampling, handheld XRF analysis, ground radiometrics, auger drilling, pitting and trenching.

Regency chairman Andrew Bell in today's statement said: "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."

Quick facts: Regency Mines PLC

Price: 2.76 GBX

LSE:RGM
Market: LSE
Market Cap: £2.47 m
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