AUS
NZ
UK
CA
USA
IND
Highlights
Open pit optimisation supports expansion plans
Mount Mackenzie integrated into Central Queensland portfolio
New resource estimate strengthens development
QMines (ASX:QML) has confirmed strong open pit optimisation outcomes for its recently acquired Mount Mackenzie Gold-Silver Project, marking a key milestone in its Central Queensland development strategy. Acquired in July 2025, the project has now been successfully integrated alongside Mt Chalmers and Develin Creek as part of a broader plan to establish a centralised mining and processing hub.
The optimisation study and updated mineral resource estimate further enhance the company’s position as it moves toward expanding production capacity across its regional assets.
Strategic Regional Integration
Located approximately 140 kilometres northwest of Rockhampton, Mount Mackenzie lies just 45 kilometres from QMines’ Develin Creek project. Together with Mt Chalmers, these assets form the foundation of a unified operational strategy aimed at cost-efficiency and scale.
The geological profile of Mount Mackenzie includes high-sulphidation epithermal mineralisation, commonly associated with precious metal-rich volcanic environments. This complements the mineralisation styles of QMines’ nearby projects, enabling synergies in processing and development.
These open pit results support a development model with a favourable waste-to-ore ratio, positioning Mount Mackenzie as a strong addition to the portfolio and a meaningful contributor to the future processing hub.
Production Hub Development and Study Update
QMines is working toward delivering an updated pre-feasibility study (PFS) in the first half of 2026, which will include Mount Mackenzie as part of the core development pipeline. The company aims to increase the Mt Chalmers plant’s processing capacity to accommodate a larger blended feed from all three deposits.
Engineering work is progressing, with plans to implement a carbon-in-leach (CIL) circuit for oxide ores and an updated flotation circuit for sulphide material. Metallurgical testing is ongoing to fine-tune the parameters for a blended feed strategy that can support higher throughput and improved recoveries.
This development reflects QMines’ commitment to building a sustainable, long-life operation that can support consistent output over time.
Resource Upgrade Enhances Project
Following the acquisition, QMines released an updated JORC-compliant Mineral Resource Estimate for Mount Mackenzie. The revised figures show growth in both the grade and contained metal, with a substantial portion of the resource classified as Indicated.
This upgrade highlights the quality of the deposit and confirms the asset’s strategic value within the company’s regional development approach. The inclusion of Mount Mackenzie enhances the scale of operations while providing a more robust foundation for the forthcoming PFS.
