1HFY24 in Review: Revolver Resources (ASX: RRR) advances in copper quest at Dianne and Osprey - Kalkine Media

Highlights

• Diamond drilling at the Dianne Project intersected significant zones of hydrothermal alteration across all eight drill holes.
• Latest diamond reconnaissance at the Osprey Project confirmed the presence of substantial, large-scale copper mineralisation system in close proximity.
• RRR had cash and cash equivalents balance of AU$1.29 million as of 31 December 2023.
• A grant of AU$1.3 million was received from the Critical Minerals and Battery Technology Fund of Queensland Government.

Revolver Resources Holdings Ltd (ASX: RRR) is an ASX-listed exploration and mining company focused on exploring and evaluating natural resource projects. In the recently closed half year, , the company finalised diamond drilling programs at its Dianne and Osprey projects.

As of 31 December 2023, the company had AU$1.3 million of net current assets, including AU$1.29 million in cash and cash equivalents.

Diamond drilling at Dianne and Osprey projects

Dianne Project: The diamond drill program at the Dianne Project focused on testing three Heli-EM targets (C5, C6, C16) within the Larramore Volcanic Belt. In this 1,570-metre drilling program, all eight holes intersected noteworthy zones of hydrothermal alteration.

The program concentrated exclusively on the Larramore Volcanics Belt, yielding consistent results. Particularly noteworthy are the outcomes from targets C5 and C16, where multiple narrow intervals reported highly anomalous gold concentrations of up to 0.7 g/t Au, and variable copper levels of up to 0.05% Cu.

Moreover, a comprehensive helicopter gravity gradiometer survey covering four highly prospective subblocks of EPM 27411 over the Larramore Trend at the Dianne Project was concluded in 1HFY24. This survey resulted in further refinement of intrusive targets within the Larramore.

Osprey Project: Diamond drilling at this project focused on previously defined high-priority targets.

The assays from four-hole, 1,903-metre diamond reconnaissance campaign reported highly anomalous copper mineralisation within intersected vein systems. This in addition to the reassessment of diamond drill core showed vein grades reaching up to 3.7% copper, affirming the potential presence of a substantial, large-scale mineralisation system in close proximity.

The findings not only strengthen the evidence of regional-scale mobilisation of mineralised fluids but also align closely with results generated by the recently developed AI-assisted prospectivity model. This innovative model has provided a clearer delineation of 16 Mt-Isa style targets and 19 IOCG targets, encapsulated within the expansive tenement-wide AI/Machine Learning model tailored for the project.

Government Grant

In February 2024, the company received AU$1.3 million in grant from the Critical Minerals and Battery Technology Fund of Queensland Government. The funds would expedite crucial technical and design workstreams for the Dianne Copper Mine Project, accelerating the planned resumption of mining operations.

RRR shares traded at AU$0.060 apiece on 14 March 2024.