Robust Resources has completed the acquisition of JAMM Investment Consolidations, a company that holds a highly prospective portfolio of copper-gold exploration assets in the Philippines. The company has approved a $2.67 million exploration budget for the first drilling program at Ganymede prospect as well as ongoing geophysical and surface sampling activities.
JAMM has three projects covering 120sqkm and exploration on two projects – Ganymede on the island of Bohol and Metis on Negros – is planned to begin by the end of the year.
Scout drilling by previous explorers at Ganymede, which is in a known area of copper-gold mineralization, intersected widths and grades of gold mineralization of potentially economic significance, including 60 metres from 55 metres @ 1.28 grams/tonne, 40 metres from 60 metres @ 0.63 grams/tonne and 14 metres from 95 metres @ 1.79 grams/tonne.
The drilling campaign will focus on these areas. Geophysical and surface sampling activities will also be undertaken to delineate drilling targets over what is evidently an area of significant mineralization. Access, infrastructure and security are excellent and conducive to cost-effective drilling and exploration.
Surface exploration will also be carried out over the Metis Gold Project. This property encompasses a very large hydrothermal alteration system, which is highly prospective for epithermal-style gold mineralization.
The company has recently consolidated its land holdings across the target areas. JAMM is also assessing other project acquisitions in and around its existing portfolio.
Robust’s managing director Gary Lewis says, “Completing this transaction marks an important milestone for Robust and extends our exploration pipeline at a time that our Romang Island Project in Indonesia enters its development phase. We have every confidence in the JAMM exploration and operations team which is led by Carlito Rena, who discovered the Romang project.”
Announcement of the company’s maiden JORC-compliant resource estimate is on track for this quarter with final drill core samples for this estimate awaiting delivery from Romang Island.