Submits Co-operative Drilling Application
Sydney, April 23, 2016 AEST (ABN Newswire) - Revolution Metals announce that it has completed the scope and planning for a drilling program to be conducted at the Mt Remarkable Gold deposit on the company tenements in Northern New South Wales, Australia.
Ten transverse drill holes will be completed to test the existence of parallel high grade gold bearing quartz veins in a historical gold mining area that produced approximately three tonnes of Gold between 1876 and 1941.
The historical reefs are part of a larger fracture system where multiple parallel quartz veins, both exposed at surface, and below surface were the subject of a gold rush in the early 1900s. The mining of the high grade gold bearing quartz veins was abandoned prior to World War II, with a low gold price and remoteness of the area.
The drilling program is part of an initiative by the NSW Government to collect data on areas where very little historical geological data is available, and build the knowledge of the mineral resources of the state.
The application tendered is part of a state wide program to develop greenfields exploration.
Revolution Metals holds a two exploration licences (ELs) in New South Wales (NSW) covering 40 km2 of the historic Dalmorton Goldfield. The ELs contain numerous gold workings, many dating from nineteenth century artisanal mining when rich quartz reefs were mined to shallow depths.
EL8118 and EL8273 are located approximately 67 km west of Grafton NSW and are close to modern infrastructure and amenities. The ELs are situated in rugged terrain, however they are accessible with conventional vehicles.
Project potential
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:
http://media.abnnewswire.net/media/en/docs/82083-Revolution_nsw_industry.pdf
About NSW Dept of Industry
Industry Investment & Export Support Branch (II&ES) is the NSW Government's lead economic development agency for the state's resources and energy sector. It is the first point of contact for investors wanting to participate in the NSW mineral/energy industry, and for explorer-miners seeking key strategic investors to help develop their NSW projects. II&ES can facilitate introductions between potential investors and company representatives.
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.
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