Revolver Resources Ltd (“Revolver” or “the Company”) is actively and effectively exploring on two highly prospective projects in North Queensland, firstly, Project Osprey (“Osprey”) in the world class Proterozoic Mount Isa Inlier, and the secondly, the Dianne Project (“Dianne”), over and around the historically operated Dianne copper mine in the Paleozoic Hodgkinson Basin.
Dianne is the most advanced, centred over a mine that produced 69,820 tonnes of direct shipping ore, grading at between 18% and 26% Cu and 359 g/t Ag in the late 1970s and early 1980s. Dianne has an initial Mineral Resource Estimate (“MRE”) of 1.62 Mt @ 1.1% Cu (18,000 tonnes contained Cu), with initial bench scale metallurgical test work delivering positive results. The Company is looking at the feasibility of a low cost heap leach/SX-EW operation, treating the subset of 1.49 Mt @ 0.66% Cu of shallow open pittable oxide and chalcocite-rich supergene mineralisation. Given that the historic mine is located on granted Mining Leases (“ML”), there is the potential for the permitting of such an operation to be streamlined when compared to a new start-up, and for this to provide cash for ongoing exploration and evaluation activities.
