Robust updates drilling result from E. Nusa Tenggara gold project
Tuesday, May 12 2009 - 02:19 AM WIB
44.2 metres at 1.14 g/t Gold (Au) and 32 g/t Silver (Ag) from 3m (1.60 g/t Au equivalent) including 5 metres at 2.56 g/t Au and 46 g/t Ag from 5.2 m (3.22 g/t Au equivalent)
The results continue to extend the precious metal mineralisation seen in previous holes LWD 026 and .WD 027, drilled by Robust, and LWD 002 drilled during exploration by Billiton in the late 1990?s.
Results from previous drilling in this area have included:
LWD 002 44m @ 1.53g/t Au and 26.89 g/t Ag (1 .91g/t Au equivalent) from surface
LWD 026 51 m @ 1.35g/t Au and 24.93g/t Ag (1.75g/t Au equivalent)
LWD 027 50.3m @ 1.08g/t Au and 65.95g/t Ag (2.01g/t Au equivalent)
Robust is continuing its Romang exploration programme with two owner-operated NO Core diamond drilling rigs. Acquisition of a third rig to accelerate the exploration programme is now well advanced. Holes LWD 029 to LWD 030 have also been completed at Batu Hitam and assay results are awaited.
Robust has now completed 1,173.9 metres of drilling in the Lakuwahi Project, including 897.2 metres at the Batu Mas prospect, approximately 1.5km to the West North West of Batu Hitam. All of the eleven holes drilled to date at Batu Mas have intersected Gold, Silver and base metals mineralisation.
As announced on 28 April 2009, Robust placed 5.4 million shares at 25 cents per share to sophisticated and professional investors to raise $1,350,000. These funds have now been received and will be used to accelerate exploration on Romang Island, including the purchase of a third diamond-drilling rig.
Importantly, these funds will take the Company beyond the $1.5m expenditure required to earn a 51% interest in the mineral titles covering Romang Island. Under a Mining Cooperation Agreement with PT Gemala Borneo Utama, Robust has an option to earn a further 24% (taking equity up to 75%) by expenditure of a further $3 million. (end of edited release)
