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QMines grow Queensland copper horde

1 December 2021
ASX: QML
Jack Baker

QMine’s shareholders have pocketed a timely reward following a near 40 per cent increase in the size of its copper resource at the Mt Chalmers located near numerous known volcanogenic massive sulfide ore deposits.

Recently listed in May 2021, the junior copper-gold company’s most recent estimate fattens the already-hefty target to 101,000 tonnes of copper equivalent, warranting a heightened confidence level landing 78 per cent of it in measured and indicated categories.

Aiming to become Australia’s first zero-carbon copper and gold developer, a boost of this quantity at the historic and bountiful flagship project gives the Queensland-based explorer no hesitation to its capabilities.

While the company was delighted at the development, it said it would not rest on the laurels of a resource boost and continue diligent exploration.

“It is a fantastic achievement to be delivering a resource upgrade for our shareholders in such a short period of time,” executive chairman Andrew Sparke said. “QMines has identified several volcanogenic massive sulphide ore deposit prospects outside the known resource that bode well for further Resource upgrades and the potential for future development.”

Further resource updates are being prepared for delivery in the first half of 2022.

QML’s Australian Stock Exchange-listed price is currently trading at 3.8c (8:31 UTC+8)

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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