Revolver Resources has announced that key technical and design workstreams at its Dianne Copper Mine Project will be fast-tracked with $1.3 million in grant funding from the Queensland Government’s Critical Minerals and Battery Technology Fund.
Revolver has already completed initial process engineering work with respect to a proposed low capital cost, heap leach/SX-EW development of the Dianne Deposit Mineral Resource Estimate.
The company is also in commercial discussions with potential private investors with respect to the acquisition of an equity interest/s directly in the Dianne Copper Mine Project, however the discussions are ongoing and no definitive terms have been agreed at this stage.
The grant received from the Queensland Critical Minerals and Battery Technology Fund is to be allocated to an integrated series of advanced technical studies and site-specific engineering designs for the Dianne Copper Mine Project, incorporating:
SX/EW process engineering design ($800,000 grant exclusive of GST)
- Column-scale leach testwork – oxide and sulphide
- Structural, mechanical, electrical design of process infrastructure
- Design of crushing and agglomeration circuit
- Final Process Flow Diagram (PFD)
- Process and instrumentation design
Site engineering design ($500,000 grant exclusive of GST)
- Civil and earthworks design
- Supporting studies and integrated design of industry-leading environmental management plan
These workstreams are scheduled to commence In March 2024.
Revolver’s Managing Director, Mr Pat Williams, said, “We are extremely pleased to be the recipients of the very first grant made by the Queensland Critical Minerals and Battery Technology Fund.
“Given the stated objectives of the Fund, I believe that this demonstrates excellent validation of the production potential of our Dianne Copper Mine Project. Critically, this non-dilutive funding source enables us to rapidly unlock the final feasibility pathway towards a targeted recommencement of mining operations at Dianne within the next 12-–18 months.
“I would like to say a heartfelt thank you to both the Queensland Government and the personnel administering the Critical Minerals and Battery Technology Fund.
“The leadership, vision and foresight shown in both setting up and rapidly activating the Fund, along with identifying the Dianne Copper Mine Project as a worthwhile target of this grant funding, should be widely recognized and commended by the minerals industry and the people of Queensland.”
Revolver said the workstreams are set to place the Dianne Copper Mine Project in a position – development funding permitting – for the company to rapidly deliver a high-margin copper mining and processing operation to support its high-potential exploration initiatives.
The lead time to first copper metal production from a positive recommencement decision is currently expected to be less than 12 months.
The Queensland Critical Minerals and Battery Technology Fund has been established by the Queensland Government to support Australian business to compete globally by enhancing the extraction and processing of critical minerals in Queensland, accelerating the development of battery technologies and production of precursor or advanced materials in Queensland and supporting Queensland jobs and economic growth.
The $1.3 million grant (applied to GST exclusive spend) requires approximately matching levels of spend from Revolver on the defined feasibility workstreams.
