Dianne Copper Project Shows +85% Recovery Potential; Revolver Secures A$0.5M Royalty Funding

Dianne Project Leach Test Breakthrough

Revolver Resources Holdings Ltd (ASX: RRR) has delivered promising results from its ongoing metallurgical testwork at the Dianne Copper Mine Project in northern Queensland. The company’s six-month continuous 4m column leach program, designed to simulate full-scale heap leach conditions, has demonstrated copper recoveries exceeding 85% within 4 to 9 months residence time. This is a significant milestone, underpinning the economic viability of heap leaching as a processing method for both oxide and transition ore types at Dianne.

Key technical highlights include relatively low acid consumption of 10 to 15 kg per tonne, well below the typical 20 to 40 kg per tonne seen in comparable Australian heap leach operations, and low abrasion indices, which suggest reduced wear on processing plant equipment. Particle size distribution analysis also confirmed low fines content, enhancing heap permeability and leach efficiency.

Pathway to Production and Funding Strategy

With these encouraging metallurgical outcomes, Revolver is advancing multiple workstreams towards a targeted Final Investment Decision (FID) expected in the coming months. The company aims to commence first copper cathode production in the second half of 2025, subject to funding. To support this, Revolver has secured A$0.5 million in new working capital post-quarter via a 1% gross revenue royalty agreement over the Dianne Copper Mine Project’s six mining leases. This non-dilutive funding mechanism provides ongoing capital aligned with project cash flows and may be expanded with further royalty sales.

Additionally, Revolver maintains an At-The-Market (ATM) equity facility of A$3 million, offering flexible standby equity capital over multiple years. Broader corporate funding discussions are ongoing to ensure sufficient resources for both development and exploration activities.

Exploration Momentum at Osprey Project

Beyond Dianne, Revolver is progressing exploration at its 100%-owned Osprey Copper Project in northwest Queensland. The company is integrating Artificial Intelligence (AI) overlays with ground-based geophysical surveys to refine and rank multiple high-priority targets within this highly prospective region known for Mount Isa-style and Iron Oxide Copper Gold (IOCG) deposits. Fourteen priority zones have been identified through detailed structural and stratigraphic interpretation, setting the stage for targeted drilling campaigns pending funding.

Financial Position and Outlook

During the December 2024 quarter, Revolver spent A$724,000 on exploration and evaluation, primarily focused on Dianne’s mine recommencement and pre-construction activities, alongside A$261,000 in administrative and corporate costs. The company ended the quarter with A$82,000 in cash and access to A$3 million in unused finance facilities, including a convertible loan and a short-term loan facility secured with options issuance.

With estimated funding available to cover just over three quarters of current expenditure, Revolver’s financial strategy balances capital efficiency with operational progress. The successful royalty agreement and ongoing funding discussions are critical to sustaining momentum toward production and exploration milestones.

Looking Ahead

Revolver Resources is poised at a pivotal juncture, with metallurgical validation of its heap leach approach at Dianne and a clear pathway to production within the next 18 months. The company’s dual focus on advancing development while leveraging AI-driven exploration at Osprey reflects a strategic blend of near-term value creation and longer-term growth potential in copper, a metal central to global electrification trends.