Revolver Resources (ASX:RRR) Advances Dianne Copper Mine Restart with Key Milestones

Highlights

• The Dianne Project is on track for production in late 2025 with engineering, design, and procurement work for mine recommencement completed.
• At the Osprey Project, the company is prioritising 16 Mt Isa-style and 19 IOCG-style targets.
• The company secured a milestone payment from the Queensland government fund to accelerate technical and design work at the Dianne Copper Mine.

Revolver Resources Holdings Ltd (ASX:RRR), a Queensland-based copper exploration and development company, continued advancing its Dianne and Osprey projects during the six-month period ended 31 December 2024.

The company is focused on restarting operations at the Dianne Copper Mine and has successfully completed key engineering and design work along with launching a column leach test program. Meanwhile, exploration at Osprey continues to identify high-priority targets for future development.

Dianne Project: Advancing Towards Production

Revolver Resources is on track to restart production at the Dianne Copper Mine with plans to establish a small open-pit operation and an SX/EW cathode production facility. This strategy will facilitate the commercialisation of the mine’s JORC resource. Over the reporting period, key engineering and design work including procurement and tendering for site water management, civil, structural, mechanical, and works electrical systems, has been completed.

The company has commenced a full-scale column leach test program to determine metallurgical parameters for process design.

The project remains on schedule for first production in late 2025.

Exploration Plans for 2025

Revolver Resources has also refined its exploration plans for 2025, targeting high-priority zones within the Dianne high-strain zone and the Larramore Volcanic zone, both of which have demonstrated significant mineralisation potential.

These areas are expected to provide valuable insights into the resource base and further enhance the company’s prospects for expansion.

Exploration Efforts at Osprey Project

At the Osprey Project, the company continued tenement wide modelling and prioritised 16 Mt Isa-style and 19 IOCG-style targets. Detailed structural modelling interpretations have been finalised that further assist in refining the selection of high-probability zones for potential economic mineral deposits.

Securing Key Funding to Accelerate Growth

Revolver Resources has secured essential funding to support its growth initiatives. After the reporting period, the company received AU$500,000 in working capital funding from Strumbos Trust. This funding was received through the sale of a 1% gross revenue royalty on Dianne’s future production.

In February 2025, the company received its first milestone payment of AU$880,000 (GST inclusive) from the Queensland Critical Minerals and Battery Technology Fund. This grant assists in fast-tracking technical and design workstreams for the Dianne Project.

RRR shares traded at AU$0.03 per share on 20 March 2025.