Revolver Resources (ASX:RRR) defines EM conductor targets at Osprey ahead of June drill testing

Highlights 

• Revolver Resources has completed a 706 line-km Heli-EM survey at Osprey Project.
• Total 14 EM bedrock conductor targets have been detected, in proximity to previous drilling that evidenced base metal mineralisation.
• The Company plans to begin drill testing of these targets in June.

Revolver Resources Holdings Limited (ASX:RRR) has shared results from an airborne geophysical campaign conducted over its Osprey Project, Queensland. Total 14 high-priority late-time bedrock conductor targets have been detected during the regional Heli-EM survey, which was performed using the NRG “Xcite” system.  The results are comparable with the response type expected from Mt Isa-style mineralisation.

The Company is steering forward the development work at its 100%-owned Osprey Project following a strategy that RRR believes can screen the tenure for new Mt Isa-style (and potential Iron Sulphide Copper Gold systems (ISCG)) targets economically at a higher pace.

Data source: Company update

The management also commented, “Osprey has been the sleeping giant of the Revolver portfolio since we listed in 2021. The Mt Isa region is one of the best endowed base metal provinces in the world. The north-western succession of the Mt Isa Inlier under cover is a newly emergent hotspot for mineral exploration targeting large scale Iron Oxide Copper Gold (IOCG) and Mt Isa-style base metal deposits. We believe that recent tenement activity around the Osprey Project by resource majors, Fortescue and Anglo American, is further endorsement of the high and large-scale prospectivity of this area.”

Strong new targets at Osprey confirms Heli-EM survey

Revolver considers the geological setting of the Osprey Project tenure to be conducive for Tier-1 deposits of Iron Oxide Copper Gold (ICG) and Mt-Isa Style base metal deposits.

The Company conducted the helicopter-borne electromagnetic and magnetic data survey during the second half of 2022 to identify potential massive sulphide mineralisation in the 300m below surface for direct drill targeting. The Heli-EM survey was commissioned through New Resolution Geophysics (NRG) Australia.

The survey data was acquired using the NRG “XciteTM” system that offers ultra-high resolution time-domain airborne electromagnetic geophysical methods suitable for the identification of the massive sulphide mineralisation. It offers deep penetrating capabilities to depths of >300m below surface.

The survey was acquired on northeast-southwest (50/230 degrees) lines on a 200m line spacing and a sensor/loop height of <40m above ground.

Specialist geophysicist consultants, Geo Discovery Group, who have completed preliminary target identification, have processed and interpreted the preliminary data from the Heli-EM survey.

Also, a number of discrete yet prominent ‘LateTime’ conductivity anomalies have been identified through modelling of the survey data revealing new high priority targets.

Total 14 high-priority bedrock anomalies (G1-G14) have been interpreted to be in line with an accumulation of sulphides and offer compelling shallow Mt Isa-style targets.

Revolver Resources is not conducting further interpretation and targeting, which includes overlay of results from historic drilling and ground geophysics campaigns. The high-priority target anomalies will undergo further conductivity section modelling and detailed conductor plate modelling of the EM decay data by use of Maxwell EM modelling software to support final drill targeting.

The company is expecting to begin drill testing of these high-priority targets in June 2023.

RRR shares traded at AU$0.165 on 2 May 2023.