Company
ASX:QML
QMines Ltd (ASX:QML) is seeking to become Australia’s first zero-carbon copper and gold producer. The company’s flagship project, Mount Chalmers, is a high-grade historical copper and gold producing mine.
95 stories · page 5 of 5
“It is very pleasing to see that the upgraded resource has substantially grown in both size and confidence level, with the measured and indicated categories now comprising 78% of the overall resource,” says executive chairman.
The company’s objective is to grow its resource base, consolidate assets in the region and assess commercialisation options.
The ASX-lister, which is looking to become Australia’s first zero-carbon copper and gold developer, is committed to reaching net-zero emissions by 2030.
The ASX-lister has added another 50 kilometres to its Mt Chalmers gold and copper tenure, bringing its landholding in the region to 219 acres.
The results confirm strong resource growth potential with an upgrade planned to be released to the market in the fourth quarter of 2021.
New independent non-executive director Peter Caristo has experience across a wide range of copper and gold projects within various geological terranes and mineralisation styles.
The broker said the IPO of QMines “appears well-timed”, as the copper price is currently trading at US$9,463 per tonne.
The new diamond core will be dispatched to ALS Laboratories by the end of the week, with results to be reported to the market when they become available.
QMines is seeking to become Australia’s first zero-carbon copper and gold developer.
The survey will be flown over the Mt Chalmers, Tracker and Striker prospects and will be used in conjunction with all current data sets to define future potential VHMS drill targets.
Land acquisitions and ongoing resource drilling form part of the company’s integrated strategy for the future development of Mt Chalmers Project.
The company has planned a 30,000-metre drilling program which is underway with a second rig now onsite and assays expected shortly.
Its final four diamond holes from Mt Chalmers have returned numerous high-grade precious and base metal intersections with outstanding polymetallic grades
The prevailing copper price due to global concerns over forward demand, driven by green stimulus and greater take-up of electric vehicles, is set to create a persistent supply deficit, which bodes well for its Queensland project.
The prevailing copper price due to global concerns around forward demand, driven by green stimulus and greater take-up of electric vehicles, is set to create a persistent supply deficit, which bodes well for the company's Queensland project
