Robust expands reach into Kyrgyz Republic
PERTH (miningweekly.com) – ASX-listed Robust Resources has signed an agreement with fellow listed KGL Resources to earn up to a 70% interest in the Bashkol copper/gold project, in the Kyrgyz Republic.
Under the terms of the agreement, Robust would spend an initial A$2-million before the end of 2017 to earn an initial 51% interest in the project. The company could increase its ownership by a further 19% by spending a further A$5-million before the end of 2021.
Robust was obligated to spend a minimum of $375 000 a year.
“We are pleased to have finalised this agreement with KGL as it provides Robust with an opportunity to immediately begin work in the Kyrgyz Republic, using the extensive human and capital resources acquired in the recently completed Andash transaction,” said Robust MD Gary Lewis.
He noted that the Bashkol tenement presented an exploration opportunity of “rare quality” for Robust, which could unlock significant value.
The Bashkol tenement covers some 17 986 ha and is situated within the Tien Shan gold belt, which hosts some of the world’s largest gold deposits. The area has previously been subject to greenfield exploration, which resulted in the delineation of a number of anomalies defining a 15-km-long mineralised trend, including the Bekbulaktor prospect.
“Bashkol is a strategic fit for Robust and complements our recent Andash acquisition. This transaction is a further indication of our commitment to expanding operations and growing portfolio projects in the Kyrgyz Republic,” said Lewis.
He noted that the company’s immediate priority was a 2 000 m drilling programme, which would start shortly.
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