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Strong Nickel Exploration Results from Collurabbie

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Strong Nickel Exploration Results from Collurabbie Powered By Docstoc
					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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Description: Strong Nickel Exploration Results from Collurabbie