Robust records positive drills at Romang project
Tuesday, July 31 2012 - 02:06 AM WIB
ASX-listed Robust Resources Limited announced that diamond drill hole LWD2O6 has intersected high-grade mineralization at the silver-rich Batu Jagung target within Lakuwahi Caldera on Romang Island, Indonesia.
Drill hole LWD2O6 is the first in a systematic pattern of planned drill holes designed to explore and delineate the Batu Jagung zone.
The report says LWD2O6 intersected mineralisation is 57 meters at 85 g/t Ag from 8 meters, including 13.2 meters at 262 g/t Ag from 13.8 meters.
?Our exploration efforts on Romang Island continue to yield positive results with seven drill rigs operating across the Island," Robust Resources Managing Director Mr Gary Lewis said.
?These new drilling results at Batu Jagung are very encouraging as they continue the company?s strong record of discovery and success. We are confident that following a systematic drilling program, this prospect will be a major contributor to a substantial increase in our initial JORC mineral resource inventory of 1.18 MozAu Equivalent.
?With an active exploration program, a motivated and influential local partner, and a strong cash and receivables position of around $35 million, the value of the Romang Island project continues to grow.?
It said that based on the new LWD2O6 drilling result and a revised interpretation, Robust?s geologists anticipate that the current drilling program at Batu Jagung will likely lead to an increase in the company?s precious metals mineral resource estimate on Romang Island.
Editing by Adianto P. Simamora