Revolver Resources (ASX:RRR) has begun drilling at its Dianne Copper Mine in north-west Queensland in order to control and extend the deposit for the global shift towards electrification.
A diamond drilling program will see drilling on closer spaced patterns, which will allow the company to conduct more uniform loading and retention of resources uncovered on leach pads.
Drilling hopes to increase the deposit scale and mineable resources at targets, which were first identified in the company’s maiden copper resource estimate of the mine in December 2022.
The company also aims to finalise optimum safe slope angles within the open pit by determining the definitive rock mass parameters to a planned depth of 100m below surface.
Revolver Resources, which has a market capitalisation of $8.84 million, will better understand the geotechnical engineering parameters, while also sourcing additional material for waste rock characterisation testing.
The company recently secured an additional $1 million in working capital funding to advance a final investment decision for the mine, as reported by Mining.com.au.
Managing Director Pat Williams says Revolver will continue to advance the Dianne mine with drilling to ensure “efficient” execution of the company’s short term development and production plans.
“This diamond drilling program also enables us to test the extensional potential on offer at the Dianne Deposit, with any success in this respect having the clear potential to increase the output of targeted copper production operations,” Williams says.
“All pre-development workstreams completed on Dianne over the past 18 months underpin a rich potential copper opportunity in the form of a forecast capital-lite, high-margin copper cathode operation.
“With development evaluation and planning now in the final stages, and key funding discussions well advanced, we are targeting the restart of mining during H2 2025 and first copper output in H1 2026.”
Around 260km north-west of Cairns, the Dianne Project is located within the polymetallic Hodgkinson Province, where the deposit previously hosted one of the “highest-grade” operating copper mines globally.
The company’s overall exploration strategy aims to test the volcanogenic massive sulphide and intrusive related gold system potential at this project, due to its proximity to the Larramore Volcanics Belt.
Copper acts as a key mineral towards the global demand for clean energy, powering electric vehicles, solar panels, wind turbines, and smart grids. Currently priced at US$4.78 ($7.37) per pound, this number reflects a 20.28% increase of this year to date.
Revolver Resources is an Australian copper explorer, focused on the development of natural resources for the global shift towards electrification.
Write to Maddison Elliott at Mining.com.au
Images: Revolver Resources
