Robust gets $1.4m fund to develop E. Nusa Tenggara gold project

Australian firm Robust Resources Limited has received A$1.4 million in funding from its partner Australian firm Trafford Resources Limited to develop gold-base metals exploration project in Romang island, East Nusa Tenggara.

?The Stage 1 $1.4 million of funds will be used to support the first phase of exploration on the highly prospective 25,000 hectare Romang Island gold and base metal project in Indonesia?s Banda magmatic arc,? the company said in statement on Monday.

The company has secured all relevant exploration licences for Romang Island for a period of three years, it said.

The company also said that the two company-owned NQ Core diamond drill rigs had commenced drilling in the Lakuwahi area in the South of Romang Island, where Billiton carried out two scout drilling programs in 1997 and 1999. 80% of Billiton?s holes intersected economically significant gold/silver/zinc/lead/copper mineralisation.

Robust Resources Executive Director Gary Lewis said: ?these are two very important milestones for Robust. The funding underpins our exploration operations for the next 18 months, which gives the company a significant degree of certainty. (denny)