Robust Resources intersects 64m of gold mineralization in Romang Island
Tuesday, April 16 2013 - 01:38 AM WIB
ASX-listed Robust Resources Limited announced on Tuesday the gold and silver assay results (base metal assays awaited) from the third diamond drill hole at the Purple Heart prospect on Romang Island, Indonesia.
The results confirm that hole LWD309 intersected a significant 64 meters thickness of gold and silver mineralization from surface, and defines a continuous zone of mineralization from holes LWD307 and LWD 308 which were announced on 9th April, 2013.
The Purple Heart mineralization is open in all lateral directions and is shown to be thickening westwards. The intersection is detailed in the following summary.
LWD 309:
64m @ 1.05g/t Au Eq1 (0.81 g/t Au, 11g/t Ag) from surface including:
29m @ 1.43 g/t Au Eq (1.09 g/t Au, 16g/t Ag) from surface which includes
17m @ 1.54 g/t Au Eq (1.28 g/t Au, 13 g/t Ag) from surface
The LWD 309 result further proves that the Purple Heart target is a relatively gold-rich system, i.e. the ratio of silver to gold at Purple Heart is 17-to-1 compared with 46-to-1 for the overall Lakuwahi JORC resource.
Test work has so far shown that gold at Lakuwahi is favorable for rapid leach kinetics and therefore a gold-rich ore is ideal for heap leach processing.
Drilling of this system is on going, utilizing two of the Company?s owner-operated diamond drill rigs. A total of 7 rigs are active or scheduled on Romang Island targets including manganese and high-grade gold.
Robust?s Managing Director Gary Lewis commented: ?The success rate of our drilling campaign at Purple Heart is very encouraging. This gold-rich system is particularly strong, and our geological team believe that this is a very large and previously undiscovered mineralized system.
?Robust is in a strong position with over $23 million in cash which is funding our exploration and development activities. This gives us the financial flexibility to fund the company through the project development study phases. We look forward to updating shareholders on our progress.?
Editing by Reiner Simanjuntak