Robust Resources: VMS-style discovery transforms development on Romang Island
Wednesday, September 18 2013 - 01:54 AM WIB
ASX-listed Robust Resources Ltd said that recent exploration activity at the Batu Perak prospect at the company?s Romang Island project in Indonesia is enhancing project development options based on what is now very likely to be a large VMS-style discovery.
The company said in a statement received Wednesday that drilling has already indicated that the Batu Perak VMS-style mineralization is laterally extensive and geologically continuous. To date, nine holes have been drilled and each hole has intersected the VMS horizon and significant mineralization.
The mineralized zone is interpreted to be 500 meters long and open at length, with potential strike of over 2 kilometers.
All nine holes drilled to date have intersected stratabound VMS mineralization, with a best result of 6 meters at 1.65 grams per ton gold, 179 grams per ton silver, 4.33 percent lead, 7.52 percent zinc and 0.44 percent copper.
A conceptual exploration target has been estimated to be 8 to 12 million tons at 5 -7 percent combined base metals, 1 to 2 grams per ton gold and 60 to 80 grams per ton silver.
This would yield 400 to 600 thousand ounces of gold, 20 to 30 million ounces of silver, and 1 to 1.5 billion pounds of base metals.
Robust is currently drilling the targets within the Lakuwahi Caldera with 8 rigs. Two rigs are dedicated to drilling the Batu Perak VMS exploration target. It is estimated that a preliminary mineral resource estimate for Batu Perak will be announced within 6 months but full assessment of the target may take in the order of 12 months.
Robust?s Managing Director Gary Lewis commented: ?The discovery of the Batu Perak VMS system is significant for the company. It is clear that Romang Island is shaping up to be a project of considerably large scale, and as such, it may be more economical to pursue the processing route of a larger flotation project. The oxide gold-silver ore, which was previously earmarked for a heap leach project could be absorbed into this flotation processing operation. Metallurgical testwork has already commenced.?
Editing by Reiner Simanjuntak