Revolver Resources (ASX: RRR) and joint venture partner Colt Resources have secured a $250,000 grant to fund a helicopter gravity gradiometer survey over four high-priority volcanogenic massive sulphide (VMS) targets within the Dianne copper project in North Queensland.
The grant was received under the Queensland Government’s Collaborative Exploration Initiative (CEI) and will be directed to surveying the highly-prospective targets which sit across 54 square kilometres of the Larramore volcanic belt in the west of the project area.
The two-week survey is expected to commence next month.
The new data will be incorporated into Revolver’s exploration modelling and enable further refinement of target anomaly rankings.
High potential opportunities
Revolver managing director Pat Williams said the grant will allow Revolver and Colt to explore high potential opportunities near to Dianne.
“The timing of this round has aligned neatly with the growing body of evidence we are building that shows a substantial new VMS field in the Dianne area,” he said.
“We look forward to completing this gravity survey rapidly and incorporating the targeting results into our accelerated drilling activities in this exciting new region.”
Airborne survey
Revolver said the targets were generated from an airborne electromagnetic survey completed in the second half of 2022 over 37sq km of prospective ground.
Analysis of the survey data identified a number of discrete and prominent ‘late-time’ conductivity anomalies.
To date, 16 high-priority bedrock anomalies have been interpreted to be consistent with an accumulation of sulphides.
Revolver said the anomalies provide “compelling” shallow VMS-style targets.
New VMS system
The planned area of coverage for the gravity gradiometer survey includes the discovery of a new VMS system at the C3 target in February, which was subsequently drilled to a depth of 289m.
Four strongly mineralised intervals of hydrothermal and vein breccias and stockwork zones associated with mafic volcanic and chert horizons were present in the hole.
Two of these were interpreted to demonstrate strong VMS stockwork affinities.
