Fisho26,ROL have stated they intend to look at a short time...

Fisho26,
ROL have stated they intend to look at a short time frame to production.

Robust Resources nails JORC resource of 1.18m ounces of gold equivalent on Romang Island
Wednesday, January 11, 2012 Robust Resources (ASX: ROL) has reported a significant maiden resource of 1.18 million ounces of gold equivalent at its Lakuwahi Project on Romang Island, Indonesia.

As investors digest the resource estimate and exploration potential, it should should send a spike to ROL's market value over time.

Of the 1.18 million ounce gold equivalent, there are 592,000 ounces of gold and 27.7 million ounces of silver in Indicated and Inferred JORC categories.

The base metal resources in the polymetallic sulphide zone includes copper of 95 million pounds, lead of 697 million pounds and zinc of 678 million pounds.

Given that the resource estimate was based on a tightly-focused drill campaign at Lakuwahi Project, there is scope for significant increase.

Recent results indicate that the substantially drilled prospects of Batu Mas, Batu Hitam and Batu Hitam West remain largely open for further extensions and discovery.

Impressively, Robust is looking to monetise the deposits as soon as possible.

The company is investigating the viability of mining and treating the near surface gold silver deposit in the short term.

This looks possible based on metallurgical testwork to date and the oxide gold silver material could be treated using standard, low cost processing.

Comment

What stands out from the maiden resource estimate is that it was based on the drill results of just a small area within the Lakuwahi Project.

The initial resource, while impressive, looks like being just the tip of a very significant iceberg given there will be seven diamond drill rigs turning on site and $15 million pumped into exploration in 2012.

Robust is looking to commercialise the deposits as soon as possible which is also a plus point, by investigating the viability of mining and treating the near surface gold silver deposit in the short term.

source: Proactive investors