Regency Mines plc (Regency), a mining exploration and mineral investment company with interests in nickel and other minerals in Western Australia, Queensland, Papua New Guinea and Pakistan, has announced that it has increased the nickel resource estimate for its Mambare project in Papua New Guinea to 1.53 million mt.
This is a 67 percent increase in contained nickel compared to the company's estimates announced in April 2012.
Commenting on the latest results, Mambare project manager Ian Warden said, "Not only do the results build the Mambare nickel project towards its potential to be a nickel laterite of world-class scale, the higher-grade zones identified have very positive implications for the economics of a future Mambare operation."