LONDON (ShareCast) - Regency Mines said one of its investments had bought options over highly prospective land in Western Australia.

ASX-listed Ram Resources, of which Regency owns 18.2%, has acquired options on three tenements totalling 400 sq km in the southern area of the Fraser Range nickel-copper belt.

Regency, which has interests in Australia, Papua New Guinea and Sudan, said the new tenements lie two km west of the Crux anomaly that is currently being drilled by Sirius Resources, and are considered "highly prospective" by Ram's management.

Chairman Andrew Bell said: "With this third group of tenements in the Fraser Range, Ram is increasing its footprint and establishing its status as a significant and well-backed player in this exploration area. Sirius' current focus near the new tenement boundary makes Ram a potential beneficiary of any exploration success Sirius may have there."

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