In addition to the upcoming drilling program to delineate high grade deposits in parallel gold bearing quartz veins at the company's Mt Remarkable deposit, the added exploration areas contain numerous historical workings dating from the 1870s.
The company recently issued a JORC 2012 resource statement outlining the various types of deposits in the exploration area. While previous exploration focused on a 4 kilometer strike of gold bearing ironstone, the new areas contain numerous epithermal gold bearing quartz veins with a higher average gold grade.
CEO Tim Mckinnon commented, "The gold bearing ironstone gives the company an economic resource of bulk tonnage low grade gold, and so now we would like to measure the smaller high grade targets that exist in the area with the view to understand the regional geological implications. This could be a much larger gold system than was previously thought."
Revolution Metals holds a two exploration licences (ELs) in New South Wales (NSW) covering 40 km2 of the historic Dalmorton Goldfield. The new exploration license will expand the company's exploration to include a 200 km2 area already known to contain gold and base metal mineralisation.
In June 2015 a JORC compliant resource statement was issued for an exploration target of 571 000 oz of gold, with 26 000 oz of gold ready for a bulk sample mining program. Only 4% of the mineralised strike zone of 4 km has been drilled, indicating the prospectivity for increasing the gold reserves by multiple times. Further exploration to define a resource of >1 Moz of gold is underway, in conjunction with the recovery of the existing near-surface gold deposits.
Download the NSW Resources and Energy Fact Sheet on the Dalmorton Gold Fields:
About Revolution Metals Ltd
Revolution Metals Ltd is an Australian public company and developer of mineral resources. The focus of the company is to develop mineral assets of economic grade to production, providing investors with rapid return on investment. Revolution's current tenement holding comprises 40 square kilometres of mineralized gold, silver, nickel, cobalt and lead bearing structures in northern New South Wales, Australia.
The primary gold bearing ironstone and quartz deposits of Mt Remarkable, Pine Creek and Alice Cornwall, are part of a field of numerous reefs and historical artisanal workings with over sixty identified as producing gold over a century ago.
Revolution Metals Ltd