12 September 2007 Manager Announcements Company Announcements Office ABN 28 009 174 761 Australian Stock Exchange Limited 4th Floor, 20 Bridge Street Level 11, 461 Bourke Street Sydney NSW 2000 Melbourne Victoria 3000 Australia Telephone: +61 3 8602 6500 Facsimile: +61 3 8602 6560 Dear Sir Strong Nickel Exploration Results from Collurabbie Key Points: • 3m at 2.02% nickel intersected towards the base of weathering at the Beltra Prospect; • Several other +0.5% nickel intersections in the weathered zone at Beltra in association with an interpreted geophysical TEM feature; • Mocha DDH007 contains 123.6m at 35% iron, occurring as magnetite; • 179.7m of disseminated sulphides, including 67.2m of massive and matrix sulphides intersected at Batavia in hole DDH008, assays awaited. Introduction Regis Resources NL (ASX:RRL) is pleased to report that nickel exploration at several localities in the Company’s Collurabbie tenements continue to return positive results. Regis’ nickel exploration activities in the Collurabbie nickel province are at an early stage and are continuing to focus on results generated from earlier geophysical and geochemical surveys, with particular emphasis on the Western Ultramafic Zone (WUZ). Exploration in the province consists of geophysical surveying (TEM) and interpretation, shallow geochemical drilling beneath transported cover and to the base of weathering, and deep drilling of defined targets in fresh rock. Background The Collurabbie region comprises three ultramafic zones (Western Ultramafic Zone, Central Ultramafic Zone and Eastern Ultramafic Zone) and a number of extensive mafic sills. The Olympia Ni- Cu-PGE (platinum group element) massive sulphide mineralisation, discovered by BHP Billiton Ltd 5km to the north and adjoining the Regis tenements, is interpreted to occur within the northern extension of Regis’ WUZ terrane. In contrast to the Olympia area, Regis’ nickel prospects are deeply weathered and in places covered by transported Tertiary sediments. This requires the chemical characterisation of the soils and the deep regolith covering the primary sulphide mineralisation before deep drilling into fresh rock can be reliably targetted. Beltra Nickel Prospect The Beltra prospect area is located in the north-central portion of the Western Ultramafic Zone (WUZ). Exploration activities consisting of aircore drilling and interpretation of transient electromagnetic geophysical surveying (TEM) are ongoing in the area, focussing on the main ultramafic sequence and associated mafic- intermediate sills. A series of TEM conductivity highs exist in close association with the ultramafic sequence (Fig 1). The Beltra area is deeply weathered and affected by conductive transported Tertiary cover which partially shields the fresh rock TEM response. Geochemical drilling of the ultramafic target has produced a number of high nickel results summarised in Table 1. These results occur predominantly toward the base of the weathered zone, above the top of fresh rock, in close association with both intermediate-MgO rocks and high-MgO ultramafic rocks. The nickel and copper assay levels are similar to those reported by BHP Billiton from the weathered zone over the Olympia sulphide lens to the north. The TEM conductivity high extends intermittently for over 1.5km within the prospective stratigraphy at Beltra. The highly anomalous nickel results and associated chemistry are encouraging for Fig 1 Beltra Nickel prospect - location of nickel sulphide exploration in the immediate nickel intersections. area, and a program of further delineation and deeper drilling is in preparation. Table 2 Collurabbie – Beltra prospect significant drilling results Hole Northing Easting From To Int Ni Cu Zn mN mE m m m % ppm ppm CRAC1320 7017250 423125 48 52 4 0.88 345 688 54 56 2 0.91 130 596 CRAC1324 7016900 423350 23 27 4 0.70 556 386 CRAC1325 7016900 423250 41 47 6 1.42 86 629 CRAC1330 7016450 423350 33 40 7 1.46 20 377 CRAC1361 7018600 423000 44 52 8 1.18 39 401 CRAC1363 7018600 422900 36 48 12 1.56 74 512 incl 40 43 3 2.02 77 621 CRAC1377 7016700 423350 33 38 5 0.47 614 140 48 67 19 1.36 55 4831 incl 56 58 2 1.81 42 639 All holes drilled at -60 deg dip, 090 deg azimuth, 1 includes 49-53m, 4m at 4.25% Cr2O3 Mocha Prospect Complete assays have now been received for DDH007 at Mocha, where an intersection of 153m of sulphides was previously announced. The sulphides at Mocha are mainly pyrrhotite and pyrite, with only minor levels of economic metals, hosted within a diorite-pyroxenite unit. The sulphides occur in association with magnetite, either as a sulphide-dominant assemblage including 17.6m of massive sulphides in 4 zones, or in association with layered magnetite-pyroxenite units. The magnetite-rich pyroxenite zone extends from 167.0m to 290.6m downhole, and averages 35.0% Fe over this 123.6m interval (see Table 2 below). This equates to approximately 48% magnetite on an empirical basis. A number of high manganese zones are also present, and these are summarised below. Batavia Prospect Hole DDH008 has been completed to 491m at the Batavia Prospect, 1.5km north of Mocha. The hole contains a total of 179.7m of Fig 2. Batavia and Mocha prospects, disseminated sulphides as bands over the Collurabbie nickel province. interval 198.5–458.7m downhole, including 67.2m of massive and matrix sulphides in 4 zones. In similar fashion to Mocha, the The Batavia core has been submitted for assay sulphides are mainly pyrrhotite with up to 20% and results are awaited. pyrite and are associated with extensive magnetite, including massive magnetite zones, in a diorite-pyroxenite host. Table 2 Mocha Prospect Diamond Hole DDH007 – summary results. Hole From To Int Rock unit Fe Mn m m m % % DDH007 137.3 165.1 27.8 sulphide zone 47.0 DDH007 167.0 290.6 123.6 magnetite zone 35.0 incl. 167.0 172.0 5.0 3.67 incl 197.0 202.0 5.0 3.04 Table 3 Batavia Prospect Diamond Hole DDH008 – summary results. From To Int Description m m m 198.5 458.7 112.47 numerous disseminated sulphides 210.6 211.0 0.4 massive and matrix sulphide zone 357.0 360.2 3.2 massive sulphide zone 391.4 452.1 60.7 massive sulphide zone 452.8 455.7 2.9 massive sulphide zone Collurabbie Nickel Province Tenement Holdings Fig 3. Regis Group tenement holdings , Collurabbie nickel province, Western Australia. Yours sincerely David Walker Managing Director For further information contact: Mr David Walker Dr Michael Folie Managing Director Chairman Regis Resources NL Regis Resources NL 03 8602 6500 03 8602 6500 The technical information contained in this report has been reviewed by Mr. David Walker who is a member of the Australasian Institute of Mining and Metallurgy and has more than 20 years experience in the exploration industry.
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