17th Jun 2015 09:00
LONDON (Alliance News) - Regency Mines PLC said Wednesday morning that preliminary results from recent sampling at the Jebel Abyad Phosphate block in Sudan are "encouraging".
The company said the preliminary results indicate four zones with elevated phosphate concentrations in the block. Regency geologists are analysing the field data, and samples are on route to the lab for a more detailed analysis, Regency said. It will report the full results "in due course".
"Preliminary results are encouraging as the elevated readings encountered are clustered in several areas, indicating where further potential remains and where it does not. Each trip to Jebel Abyad improves our understanding of the underlying geology and brings us one step closer to our aim of ultimately defining an economic phosphate resource," said Project Manager Gary Hurst in a statement.
Shares in Regency Mines are trading down 5.0% at 0.0760 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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