Robust updates E. Nusa Tenggara metals exploration drilling
Tuesday, March 10 2009 - 02:20 AM WIB
Robust is currently drilling the large caldera-hosted Lakuwahi Gold-Silver prospect on Romang Island, Indonesia. The recently received results have confirmed the large precious metal resource potential indicated from the first two Robust Resources Ltd drill holes reported on 5 February 2009, and from previous drilling by Billiton between 1997 and 1999. Eighty per cent of the holes drilled by Billiton contained significant gold, silver, zinc, lead and copper mineralisation.
The Romang Island Project comprises five mineral titles with two more under application, covering the entire 25,000 hectare volcanic island in Indonesia?s Banda magmatic arc. The Lakuwahi caldera forms the Southern third of the island and is a mineralising system comparable in size to that of the Lihir caldera in Papua New Guinea. Romang Island possesses significant advantages for development being strategically situated only 500 Km NW of Darwin (see Figure 1)
Diamond Drill Results
Highlights of the assay results for the six holes are as follows:
LWD-017: 27 metres at 2.23 g/t1 Gold and 95 g/t Silver from 22m
Using current gold and silver prices the above intersection translates to 27 metres at 3.64 g/t (Gold Equivalent =gold assay + silver assay) x (silver price / gold price) + gold assay).
LWD-018: 6.65 metres at 0.31 g/t Gold and 32 g/t Silver from 38.4m (0.78 g/t Gold Equivalent)
(This hole was abandoned well short of its target depth due to drilling problems and is currently being re-drilled)
LWD-019: 18.1 metres at 0.55 g/t Gold and 11 g/t Silver from 33m (0.72 g/t Gold Equivalent)
LWD-020: 33 metres at 1.45 g/t Gold and 111 g/t Silver from 18m (3.08 g/t Gold Equivalent)
Including: 11.0 metres at 2.45 g/t Gold and 113 g/t Silver from 28m (4.13 g/t Gold Equivalent)
LWD-021: 2.45 metres at 3.03 g/t Gold and 28 g/t Silver from 0m (3.48 g/t Gold Equivalent)
And: 20.6 metres at 1.10 g/t Gold and 48 g/t Silver from 27.35m (1.81 g/t Gold Equivalent)
LWD-022: 7.0 metres at 0.96 g/t Gold and 21 g/t Silver from 33m (1.28 g/t Gold Equivalent)
Significant intersections of mineralisation encountered in the latest round of drilling are shown below and their location plan in Figure 2.
Reprocessed Aeromagnetic Data
3D modelling of the airborne magnetic data acquired by Billiton in 1997 has identified a large zone of low magnetic susceptibility which is interpreted to be due to a large (6 km x 4 km) magnetite-destructive hydrothermal alteration system. Much of this system is preserved beneath post-mineral reef limestone. As can be seen in Figure 6, drilling has tested only a very small part of the target system.
Robust is continuing its Romang exploration program with two owner operated NQ Core diamond drilling rigs, which allow for economical and flexible operations. As previously reported, consideration is being given to the purchase of a third rig to accelerate the exploration program.
A team of 5 geologists (2 expatriate and 3 local) are actively mapping and sampling the caldera as part of ongoing target generation.
The recent positive results will require follow-up drilling whilst other targets identified within the extensive Lakuwahi caldera will also need to be drilled. Recent mapping by Robust has identified black, tubular-like structures in this area, possibly representing ?black smokers?. Rock chips have been submitted for assay.
Holes LWD-023 to LWD 025 have been completed and assay results are awaited. Robust has now completed 897.2 metres of drilling in the Lakuwahi Prospect and is on track to complete 2,500 metres by June of this year. (end of edited release)