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Highlights
- Revolver Resources (ASX:RRR) is engaged in developing two 100%-owned district-scale copper projects – Dianne Project and Osprey Project on a dual-track growth trajectory.
- Project Osprey is a region a strategic focus, demonstrating evidence for the occurrence of Eastern Creek Volcanics.
- Through Project Osprey, RRR is targeting IOCG and Mt Isa Style copper deposits within the North-West Minerals Province.
- Revolver’s Dianne Project is a former high-grade copper mine - 63,758t of shipped ore with an average grade of 22.7% copper.
- There is more than 90% recovery potential at the Dianne Project, as per the metallurgical test work.
Considering the growing need for copper as the world is opting for increased electrification, it won’t be wrong to say that copper’s golden age has arrived. As per S&P Global data, the copper demand is expected to double by 2050.
Given these bullish marco conditions for copper many market participants are now shifting their focus on companies that are operating in the copper value chain. Let’s look at one ASX listed copper producer, Revolver Resources Holdings Limited (ASX:RRR), which is hosting two 100% owned district-scale copper projects – Dianne Project and Osprey Project. The company claims to be ‘Queensland’s next emerging copper producer’.
Tracing the growth trajectory of RRR’s copper projects
One of the emerging copper producers of Queensland, Revolver is advancing work at its two 100% owned copper projects. In this article, we will elaborate on the dual-track growth trajectory followed by the company to keep pace with the bullish copper market.
Project Osprey
Project Osprey has become a region a strategic focus. It has pulled in great interest by some of the bigwigs in the region in proximity to the site. Osprey has demonstrated evidence for the occurrence of Eastern Creek Volcanics. Much of its regional structure offers standard host environment for major mineral deposition.
Through Project Osprey, Revolver is targeting IOCG and Mt Isa Style copper deposits within the North-West Minerals Province.
Data and image source: Company update
Revolver has wrapped up multiple scopes of exploration at the project site securing crucial dataset of regional knowledge. As per the sample analysis completed till date, there is evidence of Iron Oxide Copper Gold (IOCG) mineralisation. The relogging and analysis has detected IOCG halo style alteration and mineralisation in Revolver drill core. Some world-class copper-gold deposits, such as Ernest Henry Mine, Osborne Mine, Swan Mine are counted as Mt Isa IOCG examples. The latest re-logging has led to more than 500 drill core samples for assaying. To prioritise drill targets for early 2023, the company is employing project wide data modelling and AI processing.
Revolver drill core shows there exists copper mineralisation associated with IOCG alteration facies. Also, Osprey has returned significant amounts of modern exploration data, such as:
- Over 4,500m drill core
- 200 line km of ground magnetics
- 651 gravity station measurements
- 46.1 line km PDP-IP and 10 sq km of Samson EM
Dianne Project
Image source: Company update
Located in Hodgkinson Province, North Queensland, the project is a former high-grade copper mine - 63,758t of shipped ore with an average grade of 22.7% copper. The company considers it to have a lucrative near-term production potential. Also, there is compelling district scale exploration upside. Its total JORC Resource has been estimated to be 18,000t of Cu 1.62Mt @ 1.1% Cu with 6.1% sulphide core.
The company has been focusing on gaining value from one of Australia’s highest grade, low-cost copper assets. With its drill campaign, the company has delivered a JORC resource containing broad surface copper oxide mineralisation adjacent to high-grade massive sulphide zone with assays up to 19.8% Cu.
As per company release, the project is a high -grade, high recovery, near surface ore on granted Mining Leases. There is more than 90% recovery potential according to the metallurgical test work. The company claims there is a potential for a combined open-pit development of the oxide, supergene and remaining primary massive sulphide mineralisation. Also, the company has wrapped up mine recommencement study for the project.
The company is geared up for near-term production at the project site. The planning is underway. Production is expected to be smooth and streamlined, due to compact scale, contract mining suitability, greatly reduced Capex, reduced construction risk and timeline. Also, notably, the orebody is based inside the granted Mining Leases.
Image source: Company update
RRR shares were trading at AU$0.205, more than 2.5% higher on 16 March 2023.
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Manisha - Senior Financial Journalist310 PostsManisha is a Senior Financial Journalist at Kalkine Media, covering the Australian market along with world news. She has tons of experience in content development in the media industry. Her deliverables reflect the strong command she has over the lan...
