|
Romang Island, Indonesia:
Robust recently acquired an advanced exploration project at Romang Island, in Indonesia's Magmatic Arc belt. The project, which covers most of Romang Island, exhibits wide zones of gold-zinc-silver-lead-copper mineralisation, identified during previous exploration by Billiton (1990s).
The Magmatic Arc includes the islands of Wetar, Alor and Lirang, recognised as richly endowed with gold and base metal deposits.
Robust Resources Executive Director Gary Lewis said the acquisition was an exciting step forward for the Company coming less than 12 months since listing. It is in line with our determination to forge value for shareholders and to take the company forward into broader realms. We are buying a valuable strategic asset early in its development cycle so that the potential upside opportunity value is there for our shareholders.
Robust holds a 51% interest in the Romang Island project with the option to increase that to 75%. PT Gemala Borneo Utama (PT GBU) who has been actively involved in the Indonesian mining industry since 1987, holds the remaining 49% interest.
Click map to view full size
Exploration project review
Robust holds 100% interest in five exploration properties within the Lachlan Fold Belt of New South Wales. These tenements, with a total area of 739km2, have been selected on the basis of favourable geology, local drill targets and anomalies, infrastructure, past exploration, previous production from old workings and the potential for early production. The map below shows the location of the Robust tenements, and their proximity to other world-class mines and resources. These tenements cover gold, silver, zinc and copper include the following ELs:
Project Locations - New South Wales:
|