Robust Resources confirms Romang Island silver discovery
THE DRILL SERGEANT: Robust Resources (ASX: ROL) has announced results from diamond drilling conducted on the Batu Putih trend on Romang Island, Indonesia.
The company said the drilling had confirmed the discovery of large-scale silver mineralisation resulting from a third significant intersection at Batu Putih from near surface.
The zone remains open along strike to the northwest and laterally.
Diamond drillhole LWD 335 intersected:
129 metres at 61 grams per tonne silver from 7 metres, including sub intervals as follows:
– 58.9m at 122g/t silver from 8m;
– 22.2m at 194g/t silver from 9m; and
– 13m at 130g/t silver from 49.4m
The drilling also intersected a gold zone at 106m depth, including 6m at 1.69g/t gold.
The company explained the latest drilling was carried out 80m along strike, to the southeast of another recently-achieved intersection of silver mineralisation of 142m at 40g/t silver, including 11m at 109g/t silver and 8m at 166g/t gold.
Batu Putih geology, drill hole location and results. Source: Company announcement
Robust currently has seven diamond drill rigs operating on Romang Island across a number of prospective targets.
Due to the recent results from Batu Putih, the company is recommissioning an eighth diamond rig in order to fast-track exploration at its Batu Putih silver target.
“It is evident from the 35,000 metres of diamond drilling undertaken to date, and these recent assay results, that the Lakuwahi prospect hosts a sizeable silver-goldpolymetallic system,” Robust Resources managing director Gary Lewis said in the company’s announcement to the Australian Securities Exchange.
“With seven rigs drilling and an eighth to commence shortly, it is clear that the mineralised system and resource base on Romang is expected to keep growing.
“Commencing with a larger scale mining and processing operation from the outset, with potential to recover more of the precious and base metals, provides the Company with a real opportunity to maximise value from the Romang Island project.”
The silver mineralisation results it has achieved so far at Batu Putih has encouraged the company to commence a new conceptual study, introducing flotation at an earlier stage, and mining and processing the Lakuwahi deposits at a higher throughput than previously anticipated.
Robust is also assessing a lower-capex start-up mining operation targeting high-grade manganese ore, which it hopes may generate an early stage cash flow.
“With the support of our project partner the Salim Group, we are confident in our ability to fund a larger project,” Lewis said.
“As well as this new study, we remain committed to assessing the development of a low-capex, high-grade manganese mining operation, which we hope, will generate early cash and improve the overall project returns.
“We are very encouraged with the way Romang Island is shaping up, to the point where we have submitted an application for a mining license, and this marks an important step in the next phase of our growth.”