Revolver Resources Advances Dianne High-Grade Copper Project

Revolver Resources had $7.3 million in the bank at the end of the June quarter to fund ongoing exploration on its Dianne and Osprey projects.

During the June quarter, Revolver Resources (ASX:RRR) continued work on its Dianne project in Queensland, which contains one of the world’s richest historic copper mines.

The project is in the polymetallic Hodgkinson Province of the state and previously produced grades greater than 22% copper when mined between 1979 and 1983.

Dianne was both an open pit and underground operation and Revolver says much of the ore body from the massive copper sulphide lens remains.

Drilling during the June quarter on the project encountered 3.5m at 13.87% copper, including 1m at 19.8% copper. These intersections were from the remaining massive copper sulphide lens.

Ore analysis from the recent 17-hole diamond drill program for 2,994m indicates that mineralization has been intersected over 150m strike and up to 200m below surface.

In the primary massive sulphide zone, which was the previously mined lens, drilling indicates that the width is 2.7 m with grades of up to 5.5% copper and 7.6% zinc.

The drilling also delineated an adjacent zone of continuous copper oxide mineralization, which has been named the Green Hill supergene zone.

This zone extends over 145m by 200m, with widths between 10m and 50m.

The main drill results in this zone were 50m at 0.91% copper from 13m, including 5.2m at 3.72% copper; 49m at 0.97% copper from surface, including 4.9m at 1.51% copper and 25.7m at 1.21% copper.

Revolver indicates that this mineralization remains open to the north, south and west.

Polymetallic backing

In addition to copper, Revolver has identified zinc, silver, gold and cobalt in Dianne.

While targeting a down-dip extension of massive sulphide mineralization, drilling intersected 0.32 m grading 0.89% copper, 2.92% zinc and 440 ppb cobalt from 234.2m.

The new data will be included in a JORC resource for the project, due for publication later this year.

Revolver noted that he continues to accumulate information about the project, which offers a variety of avenues to take it forward.

“[The company sees] growing similarities with deposits like 29 Metals’ Golden Grove Mine and Sandfire Resources’ DeGrussa Mine.

Advancing Diane

Revolver’s exploration on the project will focus on both finding extensions of the massive copper sulphide lens and the Green Hill oxide mineralized zone.

Geophysical surveys have also identified an “exciting new anomaly” beneath Dianne’s main massive copper sulphide lens.

The anomaly has an identical conductive response to the massive sulphide lens, which is closer to the surface.

Over the next few quarters, CORE Resources will undertake initial metallurgical testwork on drill samples from the recent program.

Additional exploration will include downhole electromagnetic surveys and fixed loop electromagnetic surveys, which are already underway.

Mapping and sampling are also underway around the deposit and further afield to assess regional potential.

A building-scale helicopter-borne EM survey is scheduled to begin later this month.

Project Osprey

Revolver’s Osprey project is located in the North West Queensland mining province.

Exploration of the asset has confirmed that it contains features of iron oxide-copper-gold mineralization and a Mt Isa-style copper system.

Upcoming work at Osprey will include the review of all available data, as well as the analysis of over 500 historical drill core samples. Samples will be evaluated for many minerals, including rare earths and gold.

These results are expected in the September quarter.

An airborne geophysical program is scheduled to begin at the project in September which will help identify drill targets during the December quarter.

Revolver closed the June quarter with $7.3 million in the bank.

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