570,000 ounce JORC 2012 Inferred Asset with Exploration UpsideSydney, Mar 3, 2017 AEST (ABN Newswire) - Revolution Metals, an advanced Gold exploration company with a JORC 2012 compliant asset of 570,000 ounces in Northern New South Wales has become a public company to facilitate the raising of capital to progress the development of the Dalmorton Gold Fields.
The Dalmorton Gold Fields is an historic goldrush province from the late 1800's to the early 1900's. Mining records show extraction of 3 tonnes of gold from the area by artisanal miners using basic mechanical tools.
The area comprises of a 6 kilometre strike zone of mineralized gold bearing ironstone that is exposed at surface. Additionally the area is subject to a sheeted epithermal quartz vein system where gold was mined, with recorded grades of multiple ounces per tonne. The remains of a 10 head stamper, built in 1897 and located near the primary gold bearing reef, is evidence of the labour of the miners over a century ago. Channel samples from the face of the abandoned mine show 20 g/t au, with 5 historical bulk samples all exceeding 1 ounce/tonne au.
Multi-element assays from drilling results have retuned poly-metallic indications of Copper, Nickel, Cobalt, Silver, Lead and Gold.
Tim Mckinnon, Chairman of the new public entity commented, "This is potentially a state significant project, and the timing for development could not be better with the valuation of gold and other commodities in the market".
The company will issue an information memorandum regarding investment in the project, with the view to progress the Gold Fields into a producing asset in the short term.
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