VMS discovery shifts Robust focus
PERTH (miningweekly.com) – The share price of ASX-listed Robust Resources spiked 25% on Wednesday on news that the company was considering alternative development options for its Romang Island project, following the discovery of extensive volcanogenic massive sulphide- (VMS-) style gold, silver and base metals.
Initial exploration, undertaken since 2008, had focused on outcropping mineralisation with the most promising results that of oxide and transition gold and silver. Signficant deposits of polymetallic mineralisation were also discovered.
However, recent drilling unearthed the Batu Perak VMS-style mineralisation, with early drilling indicating that the deposit was extensive.
“The discovery of the Batu Perak VMS system is significant for the company. It is clear that Romang Island is shaping up to be a project of considerably large scale, and as such, it may be more economical to pursue the processing route of a large flotation project," said Robust MD Gary Lewis.
He added that the oxide gold/silver ore, which was previously earmarked for a heap leach project, could also be absorbed into the flotation processing operation, and added that metallurgical testwork on this had already started.
“Our current exploration efforts are now focused on supporting this development option and they are being undertaken in conjunction with extensive testwork and project development activities,” Lewis said.
The development planning was also being supported by environmental investigations, which were needed to transition from an exploration licence to a mining licence.
“As well as our exploration and development activities for a larger flotation project, scoping studies are also under way on the high-grade manganese project at Romang Island and the results are looking positive for early commecialisation,” Lewis added.
Robust shares were trading at a high of 30c each on Wednesday, up from a low of 24c each.
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