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QMines expands Mt Chalmer’s potential

19 October 2021
ASX: QML
Rueben Hale

QMines Ltd has expanded potential for its imminent resource upgrade following a strategic land package acquisition at Bodes Well, part of its flagship Mt Chalmers mine northeast of Rockhampton.

The company has increased its total landholding to almost 89 hectares with the conditional purchase of an additional 22 ha of prospective land across four freehold rural properties adjacent to the historic Mt Chalmers high-grade gold and copper mine.

The latest acquisition forms part of the cashed-up company’s development strategy as it moves forward with 30,000 metres across the project with downhole electromagnetic already drilled across several holes.

The company also uses the latest technology using handheld XRF analysers to deliver real-time soil geochemical data for future drill targeting.

“The parcel of land covers part of the southern open pit and resource at Mt Chalmers,” Andrew Sparke said.

“The acquisition will provide access for further resource extension drilling and bodes well for our planned development strategy.”

The company plans to assess the acquisition of strategic land packages in the region as they become available and looks forward to updating the market with further developments as and when they occur.

QML’s  Australian Stock Exchange-listed shares were trading at 36c  (8:10 am GMT+ 8 hours).

COMPANY OVERVIEW

QMines Limited (ASX:QML)(FSE:81V) is an Australian based exploration and development Company. The Company owns four advanced copper and gold projects located in Queensland covering 978 square kilometers. The company intends to grow its existing copper and gold resource base to build value for shareholders.

COMPANY INFORMATION

ASX: QML

Website

https://qmines.com.au/
https://www2.asx.com.au/markets/company/qml

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