Tuesday, July 21, 2009

Large gold & copper porphyry discovered in Romang

Robust Resources Limited, Australia, announced this morning that exploration in the Solat Caldera, which forms the northern two-thirds of Romang Island, eastern part of Indonesia, has revealed strong evidence for the existence of at least one gold-rich multi-commodity porphyry system. 
Robust told Australia Stock Exchange (ASX) that this new discovery is in a different and distinct geological setting to Robust's initial gold-silver and base metals discovery in the Lakuwahi Caldera which forms the southern one-tird of Romang Island and where a highly successful two rig diamond program is continuing.
The coastal expression of the anomalies in the Solat Caldera is marked by extensive hydrothermal alteration with quartz/sulphide stockworking over a continuous outcrop of approximately 2 Km. Channel and grap samples along Solat Caldera returned values up to 12.3g/t gold, 6.1% copper, 6.86% lead, 15.8% zinc, and 142 g/t silver.
The northern two-thirds of Romang Island is interpreted to be a volcanic caldera similar to the Lakuwahi caldera in the South, but approximately two to two and a half times larger. It also appears older and more highly eroded than Lakuwahi.
"Recent processing of detailed aeromagnetics has indicated multiple mineral targets marked by distinct magnetic lows, interpreted to represent areas of mineralizing hydrothermal activity," Robust said.

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