Revolver Resources Holdings Limited (ASX:RRR) has completed initial engineering design for a site-based copper processing facility at the Dianne Project in North Queensland.
Based on earlier quantified results obtained from both Metallurgy and Mineral Resource Estimate from late 2022, the company has commenced a full Scoping Study.
This initial process design forms the central piece to any subsequent evaluations into the potential of re-commencing operations at Dianne, the highest-grade copper mining operation in Australian history. The potential to process ore onsite removes the reliance on multiple processing solutions as well as any reliance on direct shipped ore deliveries or transport of any concentrate products.
Revolver is committed to resourcing into the global copper deficit. Our work on the Dianne Project keeps delivering very compelling upside potential for our shareholders,” Managing Director, Pat Williams, said.
“The preliminary results from this process design study illustrates how a small-scale processing plant leads to the potential to produce copper on site. A simple application of proven technology brings the potential for a lower project execution risk profile as well as a short construction duration.
“The work programmes completed, and results achieved with funds from our IPO in late 2021 have been judiciously deployed and have delivered a remarkable foundation on which to add significant value to the company.
“We are faced with outstanding exploration discovery potential at both Osprey and Dianne projects, and the company in parallel has prioritised activities to further investigate a near term production potential at Dianne.”
The Dianne Copper Project is centred on the historical Dianne copper mine located in Southern Cape York Peninsular approximately 265km northwest of Cairns. Revolver has consolidated a tenement package to form its greater Dianne Project which comprises six granted mining leases (ML 2810, ML 2811, ML 2831, ML 2832, ML 2833, and ML 2834), and three granted exploration permits for minerals (EPM 25941, EPM 27411 and EPM 27291) resulting in an integrated land area of 545 sq. km. Revolver listed 100% of the Dianne project in September 2021 after having been 50% owner and operator since late 2019.
Dianne commenced development in 1979 with a small-scale underground and open pit mine operating until 1983 when mining was suspended. Production over a four-year period from the chalcocite enriched sulphide mineralisation from the massive zone totalled 63,758 tonnes of high-grade direct shipping ore at an average grade of 22.7% Copper.
The Maiden Mineral Resource estimate used for the study was released on the 12 December 2022. The Resource estimate was undertaken by independent global consultancy AMC Consultants (AMC) and contained 1.62 Mt @ 1.1% Cu with total contained metal of 18,000 tonnes of Cu.
The company confirms that it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the Mineral Resource estimate in the previous announcements continue to apply and have not materially changed.
Process engineering and design work at Dianne was commissioned to conceptualise the development of an expansion to the historical open pit at Dianne and evaluated the option of the treatment of oxide ore and sulphide mined from the open pit through the commissioning of small-scale heap leach Solvent Extraction/Electrowinning (SX/EW) infrastructure.