Robust: New high grade manganese supports Romang Island project
Tuesday, July 22 2014 - 02:37 AM WIB
ASX-listed Robust Resources Limited announced Tuesday assay results from six new drill holes recently completed at the Manganese Valley prospect on Romang Island, Maluku Province.
These assay results are the first available from an infill and metallurgical drilling program which is supporting the recently commenced Manganese Project Feasibility Study, the company said in a statement.
The results, again confirm the strength and continuity of very near-surface manganese zones, the statement said. High-grade intersections include:
? LWD434: 5.9 metres at 56.1% Mn from 10 metres
? LWD436: 13.9 metres at 46.8% Mn from surface, including:
o 7.4 metres at 54.2% Mn from 5 metres
? LWD437: 18.6 metres at 47.6% Mn from surface, including:
o 9.9 metres at 50.2% Mn from 0.5 metres
? LWD441: 5.0 metres at 45.8% Mn from surface
The drilling program is designed to improve the confidence level of the project by converting the majority of the Inferred Resource mineralisation into the Indicated and Measured Resource categories which can then form the basis of project Ore Reserves. Approximately 50 drillholes have been planned for the Manganese Valley and Batu Hitam West manganese deposits with all drilling expected to be completed during August, 2014.
In addition, 15 large diameter (PQ3) diamond drillholes form part of the program to provide samples for metallurgy and ore characterisation tests. This drilling has also commenced with samples from the initial drillholes submitted to PT Geoservices (Ltd) Laboratories in Jakarta.
Robust said that the Manganese Project Feasibility Study is being undertaken by EQUANT RESOURCES Pty Ltd, is well underway and is expected to be completed in the current half.
Robust?s Managing Director Gary Lewis commented: ?Manganese Valley is continuing to shape up as a viable prospect and we have every confidence in the future economics of the project. Our objective is to generate an early cash flow out of this project which will help to fund future development of our larger polymetallic deposits.
?Now that we have largely completed the separation of our Kyrgyz Republic assets into Mentum Inc, soon to be renamed Tengri Resources, Robust is now fully focused on more rapidly developing the flagship Romang Island project.
?With a current cash balance of circa $10 million and a reduced financial burden following the spin-off of our Kyrgyz Republic assets, we are well placed to realise further value from Romang Island as we advance the development of these assets. We have an ongoing and active work program across Romang with seven (7) company-owned rigs currently in operation.?
Collar details of new Manganese Valley diamond drill holes
| Hole ID | Grid: UTM Zone 52 South | Dip deg |
EOH m |
|||
| Easting m |
Northing m |
RL m |
Grid Azimuth deg |
|||
| LWD431 | 319,179.52 | 9,157,266.37 | 307.37 | - | -90 | 21.90 |
| LWD434 | 319,134.71 | 9,157,196.73 | 329.88 | - | -90 | 30.60 |
| LWD436 | 319,156.06 | 9,157,171.61 | 325.50 | - | -90 | 20.90 |
| LWD437 | 319,168.80 | 9,157,157.70 | 321.81 | - | -90 | 29.40 |
| LWD441 | 319,131.21 | 9,157,140.10 | 342.49 | - | -90 | 10.40 |
| LWD444 | 319,126.93 | 9,157,155.77 | 342.10 | - | -90 | 10.00 |
List of new Manganese Valley drill intersections
| Hole Number |
From (m) |
To (m) |
Interval (m) |
Mn (%) |
| LWD431 | 1 | 3.4 | 2.4 | 21 |
| LWD434 | 0 | 4.9 | 4.9 | 34.6 |
| 10 | 15.9 | 5.9 | 56.1 | |
| LWD436 | 0 | 13.9 | 13.9 | 46.8 |
| LWD437 | 0 | 18.6 | 18.6 | 47.6 |
| LWD441 | 0 | 5 | 5 | 45.8 |
| LWD444 | 0 | 7 | 7 | 43.1 |
Editing by Reiner Simanjuntak