Revolver Resources : Assays Unlock Scale of Dianne Project

Revolver Resources Holdings Ltd	Phone [phone]
L23, 240 Queen Street	[e-mail]
Brisbane Queensland 4000	revolverresources.com.au
ASX:RRR

ASX RELEASE

02 May 2022

Assays Unlock Scale of Dianne Project

77m intercept @ 0.91% copper grade signals near-term mine potential within granted Mining Leases

Highlights

Phase 1 exploration program at Dianne has achieved:

• • Drill assays that clearly show the Green Hill Corridor is much larger than expected and now shown to be at least 130m wide by 220m along strike.

• • Multiple Drill Assays >50m thick that confirm >0.9% copper grades from surface.

• • That the proven the high-grade massive sulphide orebody remains open at depth and along strike.

• • The definition of the growing Green Hill Corridor mineralisation system which sits adjacent to the high-grade massive sulphide zone.

• • Established an understanding that the deposit is of a style and scale potential analogous with Golden Grove.

• • That the deposit has been proven to be of a multi-commodity nature of project with Copper Zinc, Silver, Gold and Cobalt.

• • Geochemical sampling and drill assays which show that the Green Hill Corridor mineralisation footprint remains open in at least 3 directions.

• • Recent extensive surface geophysics program which has identified multiple high priority chargability anomalies within this expanded mineralisation footprint.

• • Identified the near term development potential of the newly identified Green Hill Corridor and massive sulphide ore body which are both on existing granted Mining Leases.

• • New drill assay and metallurgical data for JORC Initial Mineral Estimate which is expected mid 2022.

REVOLVER RESOURCES HOLDINGS LIMITED (ASX: RRR) ("Revolver" Or "The Company") is pleased to explain in more detail the importance of these recent drillassay results released on 28th of April 20221 which have enabled identification of dimensions of the previously unidentified Green Hill mineralisation Corridor.

The new Green Hill Corridor is an at surface to shallowly covered zone of disseminated copper oxide and supergene copper sulphide mineralisation from zero metres.

This new information will be included into the upcoming JORC mineral resource estimate which is timetabled for release in mid 2022. The Green Hill Corridor containing this newly defined copper ore body is already on permitted Mining Leases, which greatly accelerates timeframes for any potential near term mining scenario.

The Company will progress further work to define the ultimate extent of this mineralised corridor in parallel to targeting the existing priority of identifying extensions and repeats of the proven very high-grade massive sulphide zone.

New Green Hill Mineralisation Corridor Discovery

The recently completed 17 hole 2,994m diamond drill program by the Company has presented a range of new and exciting information about the Green Hill Corridor for the first time. Revolver's Phase 1 exploration strategy has been rewarded with the discovery of a very exciting, highly prospective opportunity that includes:

• o First ever diamond core drill holes completed in the Green Hill Corridor,

• o First ever complete metallurgical test work program comprising bulk Green Hill Corridor samples underway,

• o Comprehensive surface geochemistry program completed identifies a copper mineralisation footprint2 of 500m x 270m

• o Drill assays reveal the Green Hill Corridor is much larger than expected and now proven to be at least 130m wide by 220m long along strike,

• o Mineralisation shown to occur from surface,

• o Phase 1 drill program confirms Green Hill Corridor remains open in at least 3 directions,

• o Remaining drill assays due in May 2022 with visible mineralisation already showing an increase in these Green Hill Corridor dimensions.

These assay results obtained from the drill program start to characterise the extent of Green Hill Corridor's current known surface footprint, already confirming it to be

larger than 2 football fields in area and still open in at least 3 directions, creating an enormous potential and upside. The growing scale and proportion of the size of the Green Hill Corridor can be seen in Figure 1.

Figure 1: Plan of Dianne Project with Massive Sulphide and Green Hill Deposits

Table A.1 Assayed copper grades of Drillhole 21DMDD01,21DMDD002,22DMDD007 and 22DMDD009.

intercepts*forDianne

2021/2022

programholes

Hole ID	Depth (m)	To (m)	Interval (m)	ETW (m)	Cu %
21DMDD001 21DMDD001 21DMDD001 including	0.00 31.00 36.50 46.00	28.30 34.00 60.90 51.00	28.30 3.00 24.40 5.00	28.10 3.00 24.20 4.90	0.40 0.49 0.62 1.06
21DMDD002	0.00	50.00	50.00	49.00	0.97
including	12.00	17.00	5.00	4.90	1.51
and including	22.00	48.00	26.00	25.7	1.21
22DMDD007 22DMDD007	6.00 39.00	19.00 41.00	13.00 2.00	12.4 1.90	0.15 0.18
22DMDD009	13.00	90.00	77.00	50.00	0.91
including	16.00	24.00	8.00	5.20	3.72
including	34.00	41.00	7,00	4.50	1.85
including	48.00	58.20	10.2	6.60	1.10
22DMDD009	96.55	101.70	5.15	3.50	13.87
including including	96.55 100.00	98.00 101.70	1.45 1.70	1.0 1.20	19.80 16.55

*Composite intercepts were calculated using length weighted average of assays within geologically defined intersection intervals. No high-grade cutoff was applied.

The near term opportunity to further explore this exciting new potential at the Dianne Project will become an additional priority exploration activity for the Company.

The historic Dianne mining operations exclusively targeted the massive sulphide copper high grade copper ore that came to surface. Production records show a total of 63,758 tonnes of ore at an average grade of 22.7% copper was produced and shipped directly to a Mitsui smelter in Japan without processing, upgrading or concentration activities undertaken on site.

There was very little metallurgical information or analysis obtained for any of the copper ore or other minerals known to coexist at the deposit such as, Gold and Cobalt. The historic Dianne mining operations ceased in 1983, due to the low copper price environment at time, and challenging underground mining conditions. The orebody was never exhausted.

The remaining high grade massive sulphide orebody, and the presence of adjacent lower grade copper mineralisation has never previously been adequately assessed, quantified or evaluated until Revolver's Phase 1 exploration program commenced. Table A outlines a selection of recent drill hole assays demonstrating the growing potential of this zone. It is very clear now that continued and up-scaled exploration is warranted to fully determine the ultimate potential at Dianne.

Figure 2: Cross section (B-B') with drill assay intersections for the Green Hill Oxide/Supergene Cu Zone and Massive Sulphide

Phase 1 Exploration Activities to be undertaken in May

Laboratory Assays

• • The remaining diamond drill assays for Holes 10-17 are expected. Visible Green Hill Corridor mineralization has already been observed in these holes and the footprint of known mineralization will certainly increase further.

Geophysics

• • 10 x Down Hole Electro-Magnetic (DHEM) survey to provide greater resolution of the massive sulphide orebody and Green Hill Corridor to identify further repeats and extensions of the orebody.

• • Ground EM survey over near mine targets.