Dianne copper mine project granted $1.3m by QLD Government

Revolver Resources Holdings Limited (ASX: RRR) has secured a $1.3m grant from the QLD Government’s Critical Minerals and Battery Technology Fund for its Dianne copper mine project in northwest Queensland.

The grant received will be directed towards advanced technical studies and site-specific engineering designs for the project starting next month.

These include $800,000 for the SX/EW processing engineering design and $500,000 for site engineering design.

Revolver managing director Pat Williams says the company is very pleased to be the recipients of the very first grant.

“Given the stated objectives of the fund, I believe that this demonstrates excellent validation of the production potential of our Dianne copper mine project,” he said.

“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.”

The Queensland Critical Minerals and Battery Technology Fund was established to help Australian businesses compete globally by enhancing extraction and processing of critical minerals in Queensland.

The $1.3m grant requires approximate matching levels of spend by the company on defined feasibility workstreams.

The Dianna project is about 260km northwest of Cairns and is focused on a low capital cost, heap leach / SX-EW development of the existing mineral resource at the Dianne deposit.