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Highlights
- Revolver Resources has secured a 70% interest in highly prospective sub-blocks of EPM 27411.
- Activities, including extensive field mapping, soil sampling, Heli EM survey as well as limited diamond drilling of few targets have been undertaken.
- The company is awaiting assays for the recent drilling to formulate follow-up drilling plans.
Revolver Resources Holdings Limited (ASX: RRR) has announced the completion of its earn-in to a 70% interest in the Gossan Ridge joint venture (JV).
The JV includes four highly prospective sub-blocks of EPM 27411 with Colt Resources Pty Ltd, a private mineral exploration company. EPM 27411 sits within the highly prospective Larramore Volcanics Belt. It is in the western part of the company’s wholly owned Dianne Copper Project in northern Queensland.
Stock jumps ~5%
RRR shares traded nearly 5% higher to AU$0.105 at the time of writing on 27 September 2023.
Data source: Company update
More about the JV
The firm has done extensive field mapping, soil sampling and Heli EM activities on the field of the Gossan Ridge joint venture. Also, limited diamond drilling of select targets has been completed.
Substantial zones of hydrothermal alteration have been intersected in total eight diamond holes during recent drilling of the C5 and C16 Targets (within EPM 27411).
As per the company, there has been ‘strong potential evidence of significant gold’ along with associated copper and cobalt presence in these zones. This has suggested occurrence of an Intrusive Related Gold System (IRGS).
The company is expecting the assays from the program next month, while follow-up drilling for the area is being planned by the Gossan Ridge JV.
Know the company RRR
Australian-listed company Revolver Resources is focused on developing natural resources to tap opportunities arising from the fast-growing electrification across the world. It has also been focusing on exploration of copper in proven jurisdictions of the country. Currently, the firm holds 100% interests in two copper projects:
Image source: Company update
