Regency Mines (LON:RGM) released an exploration update recently detailing progress at the Munglinup North Project within the Lake Johnston Greenstone Belt. (click here to view). As we would expect, progress looks to be methodical and focussed. After reviewing the announcement, we had some questions for Andrew Bell. Here is what he had to say:
MM: With regard to T1 area please explain the significance of the Sulphide intersections and the high levels of Titanium identified?
AB:The sulphide intersections with up to 18% elemental sulphur could indicate mineralization. Or it could be pyrite and a barren sulphide. In which case it is only useful for making sulphuric acid. Our thin film sections will see what the sulphide came from more clearly. In such a weathered and baked environment this cannot be seen clearly without microscope work. Perhaps we find some chalcopyrite, for example, showing copper to be present. Perhaps other ores. The geologist on site when we drilled thought he saw chalcopyrite. This would be a positive indicator.
We were very excited when we found the cover was not excessively thick, and when we encountered sulphides, which show we are in a mineralised environment; we were disappointed when the sulphides tested quite low for base metals and gold. However, we are less than 50m from surface, and that is in the weathered zone where mineralization will have leached out: at Tropicana to the NE, for example, the mineralization only starts below 50m from surface. So we will drill aircore across the rest of the anomaly which has given us this discovery, but we will only really know what we have when we do deeper RC drilling into bedrock. That is justified, and is planned.
The titanium could be an enriched lateritic layer, I suppose, but we don't know. The grade is strikingly high however.
MM: In T3 your data substantiated the hypothesis that the greenstone belt extends further south than thought. Could you explain the significance of this substantiation for the project and your exploration programme?
AB:It means the structure identified was not a ghost structure and not a product of a fluid pathway. The greenstone is there. This means that other anomalies and conductors along the belt are worth following up.
MM: You have announced a VTEM programme for the Kambalda Nickel/Gold license. What…
