QMines: Acquisition of Strategic Land Holdings Bode Well for Mt Chalmers Copper Development Strategy
HIGHLIGHTS
- Contracts executed for two additional freehold landholdings totalling 43- acres adjacent to the Mt Chalmers mine site;
- The proposed acquisitions compliment the 126-acre freehold land acquisition and “off-grid” house already purchased;
- The freehold land acquisitions expand access for exploration and drilling operations; and
- Land acquisition and ongoing resource drilling form part of the Company’s integrated strategy of future development of the Mt Chalmers project.
10 August 2021 - QMines Limited (ASX:QML)(FSE:81V)(QMines or Company) is pleased to announce it has recently entered into two contracts to acquire two additional freehold land packages adjacent to the Company’s flagship Mt Chalmers Project. The Company’s land holding now covers 169 acres across three freehold properties adjacent to the historic Mt Chalmers mine site. The three freehold properties when coupled with the Mt Chalmers historic mine site now covers 277 acres in total.
Freehold land acquisition is part of the Company’s integrated development strategy at the project as it continues drilling operations in and around Mt Chalmers. The Company commenced its land acquisition programme in April 2021 purchasing its first 126 acre parcel of land including an “off grid” site office and accommodation facilities which are now utilised for staff and contractors during operations.
The Company will continue to assess the acquisition of additional freehold land packages in the region as parcels become available and looks forward to updating the market with further developments as and when they occur.
MANAGEMENT COMMENT
QMines Executive Chairman, Andrew Sparke, comments:
“We are very pleased with these strategic land acquisitions as they assist the Company with its planned copper development strategy. We wish to thank the local vendors, their agent and the local community for their support of the Company. We look forward to working closely with the vendors and other local land owners to progress our exploration efforts in a manner that benefits both QMines shareholders and the local community.”
Figure 1: Diamond drilling at the west load of the flagship Mt Chalmers project.
If you would like to know more about the Company please contact the Company’s Chairman, Andrew Sparke at [email protected]
ABOUT QMINES
QMines Limited (ASX: QML) (FSE:81V) is a Queensland based copper and gold exploration and development company. QMines is seeking to become Australia’s first zero carbon copper and gold developer. The Company owns 100% of four advanced projects with a total area of 1,096km². The Company’s flagship project, Mt Chalmers, is located 17km North East of Rockhampton. The Project is a high-grade historic mine that produced 1.2Mt @ 3.6g/t Au, 2.0% Cu and 19g/t Ag between 1898-1982. Mt Chalmers has an Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag.1,2
QMines’ objective is to grow its resource base, consolidate assets in the region and assess commercialisation options. The Company has commenced an aggressive exploration program (+30,000m) providing shareholders with significant leverage to a growing resource and exploration success.
DIRECTORS
ANDREW SPARKE
Executive Chairman
DANIEL LANSKEY
Managing Director
ELISSA HANSEN
Non-Executive Director & Company Secretary
JAMES ANDERSON
General Manager Operations
HAMISH GRANT
Project Geologist
PROJECTS
MT CHALMERS (100%)
SILVERWOOD (100%)
WARROO (100%)
HERRIES RANGE (100%)
QMINES LIMITED
ACN 643 212 104
SHARES ON ISSUE
111,372,748
UNLISTED OPTIONS
4,200,000 ($0.375 strike, 3 year term)
ASX CODE
QML
FSE CODE
81V
This announcement has been approved and authorised by the Board of QMines Limited.
QMINES LIMITED
Registered Address: Suite J, 34 Suakin Drive, Mosman NSW 2088, Australia
Website: www.qmines.com.au
Telephone (AUS): +61 (2) 8915 6241
Telefon (DE): +49 (0)831 930 652 43
Email: [email protected]
Daniel Lanskey, Managing Director
Email: [email protected]
Peter Nesvada, Investor Relations Australia
Email: [email protected]
Investor Relations, Deutschland
Email: [email protected]
Notes:
¹ Refer to the Independent Geologist Report commencing on page 84 of the Prospectus dated 16 March 2021 available at https://qmines.com.au/prospectus-2/
2 The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus dated 16 March 2021 and that all material assumptions and technical parameters underpinning the resources estimates in the Prospectus dated 16 March 2021 continue to apply and have not materially changed.
