Reliance Resource reports high grade silver assay

By Ruli Setiawan

Vancouver-based Reliance Resources Limited reported that rock-chip sampling with three samples from its Kapa Kapa gold/silver prospect on Halmahera Island showed high grade silver assay up to 985 g/t Ag, 822 g/t Ag and 374 g/t.

It said that the work at Kapa Kapa focussed on the Akelamo high-grade silver prospect with exploration resulted in the discovery of a one-kilometer-long NW-trending mineralized corridor associated with major, deep crustal transfer faults.

Reliance Resources CEO Gary Lewis said in the statement "The assay results from these rock grab samples are very encouraging, and they confirm that Kapa Kapa is a highly prospective project for Reliance. We have been undertaking an extensive surface exploration program for a number of months and the results from this work program confirm that Kapa Kapa is part of a very large epithermal system. As well as the soil sampling program we will very shortly commence an IP/resistivity survey that will help us to better define drill targets."

"Reliance's management team is now focused on fast-tracking its exploration activities in Indonesia and is drawing on the strong partnership it has established with ASX-listed Robust Resources. With Robust Resources recently becoming a shareholder in Reliance, we have the opportunity to draw on that company's in-country expertise and strategic partnerships. And we are confident these relationships will deliver significant value to Reliance over the longer term."

A soil sampling program is currently being undertaken across the Akelamo prospect and this will be extended to the north and south to cover possible extensions to the zone.

It said that further exploration such as ground geophysics (resistivity, IP, magnetics) is planned across the main alteration zones at Akelamo.

Editing by Adianto P. Simamora