Revolver Resources Holdings Limited (ASX:RRR) and JV partner Colt Resources Pty Ltd have secured a $250,000 cash grant to assist in undertaking a helicopter Gravity Gradiometer Survey over high-priority VMS targets along the new Larramore Volcanic Belt within the western part of the Dianne Copper Project in northern Queensland.
The funding received from the Queensland Government Collaborative Exploration Initiative (CEI) Round 7 Grant will be directed to surveying the four highly prospective sub-blocks of EPM 27411, currently being explored in a Joint Venture arrangement between Revolver and Colt. The planned survey area includes the recently announced discovery of a new VMS system at the C3 target in February, which was the first Heli-EM generated target in this zone to be drill tested.
The CEI is an exceptional programme which provides direct cash assistance to high-potential discovery opportunities across Queensland,” Managing Director, Pat Williams, said.
“The timing of this CEI round has aligned neatly with the rapidly growing body of evidence we are building that shows a substantial new VMS field in the Dianne region. We look forward to completing this gravity survey rapidly and incorporating the targeting results into our accelerated drilling activities in this exciting new region.”
Rapidly Pursuing a New VMS District at Dianne
Heli-EM target identification
A high-resolution helicopter electromagnetic and magnetic data survey was completed in the second half of 2022 over 37 sq. km of prospective ground within EPM 27291 and EPM 27411, which are located in the western part of the Dianne Project.
Analysis of this EM survey data identified a number of discrete, prominent ‘Late-Time’ conductivity anomalies. To date, 16 high-priority bedrock anomaly targets have been interpreted to be consistent with an accumulation of sulphides and provide compelling shallow VHMS-style targets.
Initial drill testing success
Earlier this year, one diamond hole (23LMDD001) was drilled (to a depth of 289m) into the C3 target (which was the first of these 16 high-priority Heli-EM targets to be drill tested).
As announced by Revolver on 13 February 2023, four strongly mineralised intervals (A to D), of hydrothermal and vein breccias and stockwork zones associated with mafic volcanic and chert horizons were present in the hole, two of which were interpreted to demonstrate strong VMS stockwork affinities as shown.
Assay results from this hole remain pending and are expected to be received in the next two weeks.
Airborne gravity survey to further refine district target pipeline
The helicopter gravity gradiometer survey being funded by the CEI grant is set to survey the four highly prospective sub-blocks of EPM 27411, which is located in the western area of the Dianne Project and incorporates the Larramore Volcanic Belt.
The survey is expected to commence in May and take approximately two weeks to complete.
Drilling of further targets to commence in May.
Following completion of the gravity survey, this new data will be incorporated into Revolver’s exploration modelling and enable further refinement of target anomaly rankings.
Drilling of the high-priority targets in this area is then expected to recommence in May.
