Revolver Resources Holdings Limited reported encouraging results from initial bench scale metallurgical test work conducted by CORE Resources Metallurgical Laboratory (CORE) on samples from the Company's Dianne Copper Project. The test work program was commissioned by Revolver as an initial step to assess processing viability and recovery from representative composite samples of principal types of copper mineralization in the Dianne Massive Sulphide and Green Hill copper oxide deposit. Testwork has identified the potential to produce saleable copper and zinc sulphide concentrates from the massive sulphide via standard grind and flotation processing.

Test work has also returned excellent recovery of copper from conventional acid leach (via bottle role testing) processing from the Green Hills supergene oxide zone, indicating the potential to recover copper via low-cost heap leach processing. The Dianne copper deposit was discovered in 1958 and operated via underground and small-scale open pit methods between 1979-83, exploiting very high-grade supergene chalcocite enriched massive sulphide ore. The mine produced a total of 69,820 tonnes of ore, assaying between 18 to 26% Cu and ~ 359 g/t Ag.

Limited previous metallurgical test work was completed on Dianne ore types as the historically mined, high-grade chalcocite was directly shipped to Japanese smelters for processing. Revolver has now completed initial bench scale metallurgical test work on the three composited samples representative of principal types of mineralisation at the Dianne deposit. As a result of deep weathering, supergene processes have overprinted the majority of the known Primary Sulphide deposit at Dianne.

This has resulted in re-mobilisation of copper to form the mushroom shaped Green Hill copper "oxide", as well as copper enrichment to form the very high-grade chalcocite MS Supergene mineralisation that was the focus of historic mining at Dianne. The copper mineralogy has significant bearing on the metallurgical charactarisitcs of a deposit. Revolver's 2021/22 drill program included a series of holes drilled to confirm copper grades and mineralogy seen in historic drilling and to collect fresh samples of mineralisation for metallurgical test work.

Global Ore Discovery used a combination of copper grade and copper mineralogy recorded from logging of the Revolver and historic drilling to model a series of six copper mineral-grade domains for the Dianne MS and the Green Hill supergene oxide deposits to guide metallurgical sample selection. The majority of the copper mineralisation at Dianne falls into three (3) principal domains: Green Hill Oxide, Dianne Supergene MS and Dianne Primary MS. Three (3) metallurgical samples were composited from Revolver's 2021/22 drill core to be statistically representative of the assayed grade, logged copper and zinc mineralogy of these domains. Samples were submitted to CORE Metallurgical Laboratory in Brisbane for bench scale test work.

Head-grade analysis, grind establishment and a series of bench scale rougher flotation tests were conducted on the primary MS and supergene MS samples. This test work was an initial step to confirm copper and zinc, demonstrating that silver and gold can be successfully liberated, upgraded and recovered via flotation to produce rougher sulphide concentrates with grade characteristics that could be further processed through a cleaner stage of flotation to produce high grade copper and zinc concentrates for potential sale. Metallurgical test work on the primary massive sulphide sample comprised eight sequential rougher flotation tests to produce a copper concentrate and separate zinc concentrate at varying grind, pH and reagent conditions to determine the best recovery conditions.

Two grind sizes of P80 of 38 µm and P80 of 45 µm were assessed for both the massive sulphide and supergene samples, with the finer grind size producing the better outcome. Metallurgical test work completed on the Green Hill oxide sample included crushing material to -3.35 mm followed by a seven-day intermittent bottle roll test with sulphuric acid to simulate heap leach extraction conditions after approximately 300 days. Head assay, X-ray Diffraction (XRD) and Mineral Liberation Analysis (MLA) of the metallurgical samples was used to identify the main economic and gangue mineralogy and to determine the grainsize and degree of liberation of the copper and zinc sulphides following griding.

Results showed copper and zinc sulphides in the primary MS sample are dominated by chalcopyrite and sphalerite, while the dominant copper sulphide in the supergene MS sample is a chalcocite-like-copper sulphide, djurleite. This analysis also confirmed, as is common for VMS style deposits like Dianne, that sulphides are very fine grained. The XRD and MLA results for the Green Hill oxide sample show the copper mineralogy is dominated by copper oxides, copper silicates and carbonates which all typically show good solubility under acid heap leach conditions for copper recovery.

Flotation test work for the primary MS, under best conditions, produced a rougher copper concentrate assaying at 10.8% Cu, 9.0% Zn, 0.17 g/t Au and 63.0 g/t Ag with recoveries of 91.0% Cu, 56.0% Zn, 40.9% Au and 66.4% Ag after 10 minutes of flotation. The resulting zinc rougher concentrate assayed at 1.1% Cu, 12.5% Zn, 0.24 g/t Au and 32.0 g/t Ag, with recoveries of 4.9% Cu, 41.1% Zn, 31.0% Au and 17.9% Ag after 15 minutes of flotation. CORE used the primary massive sulphide rougher test work results, MLA sulphide grain liberation analysis and in-house metallurgical knowledge of similar VMS deposits to predict that a cleaner stage copper concentrate would have grades of 21.6% copper, with over all copper recovery of 81.9%.

The same approach predicted a zinc concentrate could be produced with grade of 48.9% Zn, recovering 72.8% of the overall zinc. Flotation test work for the supergene MS sample using best conditions produced a rougher concentrate assaying 16.8% Cu, 0.13 g/t Au, 27.8 g/t Ag, with recoveries of 91.7% Cu, 80.3% Au and 88.9% Ag, after 10 minutes of flotation. CORE used the same approach to predict a cleaner stage concentrate for the supergene MS would have a grade of 25.2% Cu recovering 82.5% of the overall copper. The initial test work program for the primary and supergene MS samples has demonstrated the feasibility of generating copper and zinc concentrates via flotation with marketable copper and zinc grade characteristics and the potential for credits from silver content.