Revolver reports maiden resource for unmined area of Dianne copper project
Revolver managing director Pat Williams says the maiden resource estimate enables a dual-track approach to unlocking early value at Dianne.
Revolver Resources (ASX: RRR) has reported a maiden inferred and indicated resource of 1.62 million tonnes grading 1.1% copper for the remaining unmined area at the historic Dianne mine in Queensland.
The resource comprises the Dianne primary and supergene massive sulphide (MS) and Green Hill supergene oxide deposits.
Initial metallurgical tests have shown that Green Hill is amenable to low-cost heap leach processing while the sulphide mineralisation is amenable to flotation to produce potentially saleable copper and zinc concentrates.
Milestone event
Revolver managing director Pat Williams said the maiden resource is a milestone event for the project, which is accelerating with “great momentum”.
“This estimate equips with the necessary information to progress a dual-track approach to unlocking early value at Dianne,” he said.
“The highly-prospective copper district surrounding this project is now complemented by the clear definition of a starting resource which has the potential to support near-term open pit mining.”
Further exploration is likely to enhance the commercial attractiveness of the initial mineral resource.
“Our forward work program at Dianne will comprise ongoing activities across high-potential regional exploration areas as well as more definition and detail surrounding the production potential of the resource,” Mr Williams said.
“The growing global demand for copper provides an ideal backdrop to support progress on all of these initiatives and grow company exponentially.”
Historic database
Downhole and estimated true width copper-zinc-gold-silver-cobalt intersections were calculated at a 0.2% copper cut-off for the in-ground, unmined portion of the Dianne deposit using a validated historic drillhole database.
Supergene MS chalcocite-enriched intersections from validated historic holes showed high-grade copper with the low-grade zinc characteristic of the direct shipping ore historically mined at Dianne.
Best estimated true width intersections from two of the holes returned 2.07m at 27.18% copper, 0.58% zinc, 493 parts per million cobalt, 0.33 grams per tonne gold and 46.1g/t silver from 65.76m; and 2.55m at 20.23% copper, 0.4% zinc, 188ppm cobalt and 19.8g/t silver from 49m.
These holes represent remanent MS chalcocite mineralisation which could not be mined when the small-scale underground and open pit mine operated between 1979 and 1983.
Historic drill intersections at Green Hills returned broad intercepts of lower-grade copper consistent with the predominately copper oxide and copper carbonate mineral assemblage typical of a near-surface supergene and exotic deposit.
Best estimated true width intercepts returned 35.48m at 1.89% copper from surface including 7.43m at 4.62% copper from 32.0m; and 34.26m at 1.03% copper from 11.3m including 3.64m at 4.71% copper from 41.5m.