Highlights 

• Revolver Resources made significant progress at its Dianne Project during March 2023 quarter.
• RRR completed Heli-EM survey  modelling at its Dianne Project as part of its step-out strategy.
• The company concluded Downhole Electromagnetic (DHEM) surveys on two drill holes at the project site.
• The results from the DHEM in 23LMDD001 suggest presence of an off-hole large conductor, while the DHEM in 23LMDD002 suggests a discrete conductor co-incident with a structural zone.
• RRR has been awarded a cash grant of AU$250,000 under an initiative of the Queensland Government for a helicopter Gravity Gradiometer Survey over VMS targets along the Larramore Volcanic Belt.
• The company is planning to continue discovery of high priority drill targets at its Project Osprey in the next quarter.

Australian exploration company Revolver Resources Holdings Limited (ASX:RRR) has released its quarterly report for the three-month period ended 31 March 2023. While the company is progressing two 100% owned copper projects on a dual-track growth trajectory, the March quarter report is loaded with the key updates from RRR’s Dianne Exploration.

In this article, we will walk you through the development progress at the project site which is truly a district scale opportunity with >30 high potential drill targets spread over key regional geological trends.

Dianne Project

Dianne Project tenure, main geological trends and VMS targets

One of the highest-grade operating copper mines in the world, the Dianne Project holds high-grade Copper in a Supergene Massive Sulphide lens corresponding to a broad, shallow area of copper oxide mineralisation, Green Hill Supergene Oxide Zone.

A Heli-EM survey was conducted at the site as part of the company’s step-out strategy. Performed employing the NRG “Xcite” system, the survey detected many priority conductive anomalies within the Larramore Volcanic Belt. As per the release, this belt is highly prospective but an underexplored trend, located ~10km to the east of the Dianne mine.

So far, the company has interpreted 16 high priority bedrock anomalies in line with an accumulation of sulphides and compelling shallow VHMS-style targets detected from a subset of anomalous conductive responses.

Larramore Volcanic Belt

A maiden diamond hole (23LMDD001) tested the first of these targets, C3, during the quarter. It intersected 9m of VMS stockwork mineralisation over many down hole intervals.

Over 260m of the 289m drill hole length pervasive sulphide mineralisation has been noted and linked with weakly mineralised stockwork veining and disseminated Copper and Gold mineralisation with some narrow zones of strong sulphide mineralisation (with pyrite-pyrrhotite-chalcopyrite-sphalerite).

Also, the company has concluded Downhole Electromagnetic (DHEM) surveys on drill holes 23LMDD001 and 23LMDD002 along with four lines of surface Fixed Loop Electromagnetics (FLEM) between the drillholes.

The results from the DHEM in 23LMDD001 suggest presence of an intersected 250m x 250m conductor predominantly below the drillhole, and slightly offset to the south-southeast, while the DHEM in 23LMDD002 suggests a discrete 100m x 60m conductor co-incident with a structural zone to the west of the drill hole projection.

During the quarter, RRR was awarded a cash grant of AU$250,000 under Collaborative Exploration Initiative (CEI) of the Queensland Government for a helicopter Gravity Gradiometer Survey over the high-priority VMS targets along the Larramore Volcanic Belt. The company is planning to hold the survey in this exploration field season and conclude in two weeks.

Alongside, Revolver Resources will initiate a 2,000m diamond drilling campaign for these high-priority EM targets in the Larramore Belt.

Dianne copper cathode potential
For the Dianne Project, PPM Global provided an engineering design during the quarter. It highlighted that a heap leach SX/EW facility could be built on site at Dianne to produce Grade A copper cathode.

 The design demonstrated that the project is based within the current Mining Lease footprint wherein an open pit operation can be initiated with minimal establishment works as elementary infrastructure and services are available.

Further negotiations are underway relating to avenues for progressing this opportunity.

What’s the plan for Project Osprey?
The company is planning to continue the assessment of priority drill targets to be drilled commencing in June. Project Osprey contains numerous Tier 1 potential discovery targets, and the Company is progressing with these as a priority.

RRR shares traded at AU$0.12 on 25 May 2023.