QMines Ltd Advances Develin Creek and Mt Mackenzie Projects, Boosting ASX Mining Stocks

Highlights:

• QMines Ltd completes first stage of diamond drilling at Develin Creek, focusing on Scorpion deposit.

• The company prepares for Reverse Circulation drilling at Sulphide City to expand its resource base.

• Acquisition of Mt Mackenzie gold-silver project complements current assets, enhancing scalability.

QMines Ltd, a prominent player in the Australian mining sector, has made significant strides in advancing its exploration projects. The company is focused on expanding its copper-zinc resource base, particularly at its Develin Creek project in Queensland, known for its potential to increase resource volumes.

The exploration activities at Develin Creek are part of QMines’ broader growth strategy, with recent drilling campaigns set to enhance the value of its resource assets. The project, located in central Queensland, has already shown promising results, indicating strong resource continuity and growth opportunities.

Diamond Drilling Completed at Scorpion Deposit

The first stage of diamond drilling at the Develin Creek project has been completed, specifically targeting high-grade extensions at the Scorpion deposit. The company has drilled two metallurgical holes as part of its initial campaign, building on previous successful intercepts.

The completed drilling campaign at Scorpion follows a series of strong results, with high-grade intersections previously identified. These include notable copper, zinc, gold, and silver grades over significant depths, reinforcing the project’s long-term exploration value.

Preparations Underway for Reverse Circulation Drilling

QMines Ltd is preparing for the next phase of drilling at Develin Creek, with Reverse Circulation (RC) drilling scheduled to begin at the Sulphide City deposit. This marks the start of an extensive drilling campaign aimed at expanding the company’s resource base. The RC drilling will focus on down-dip extensions at Scorpion, with previous drill holes showing mineralisation continuation at depth.

This drilling program is expected to build on the existing resource at Develin Creek, which already contains a significant resource that has been largely classified as Indicated. By increasing the resource volume, the company aims to lay the groundwork for future developments in the area.

Integration of Mt Mackenzie Gold-Silver Project

In addition to its Develin Creek operations, QMines is expanding its portfolio through the strategic acquisition of the Mt Mackenzie gold-silver project. This acquisition complements the company’s copper-focused base and positions it to further diversify its resource base.

The Mt Mackenzie project adds scale to QMines' mining operations, with a focus on gold and silver alongside its existing copper assets. The company plans to integrate this new acquisition into an updated Pre-Feasibility Study (PFS), which will encompass the Mt Chalmers, Develin Creek, and Mt Mackenzie projects, offering a consolidated development approach.

This expanded project base is expected to contribute to overall resource diversity and provide opportunities for further growth in the Australian mining sector. The integrated approach aims to optimise project economics and extend the life of the mining operations, enhancing the company’s standing in the sector.

Focus on Long-Term Growth and Diversification

QMines is positioning itself as a scalable and diversified multi-commodity mining company, with an emphasis on both copper and precious metals. The acquisition of the Mt Mackenzie gold-silver project aligns with this strategy, offering the company increased flexibility and growth potential.

By combining its Develin Creek, Mt Chalmers, and Mt Mackenzie assets, QMines plans to create a more robust mining operation capable of contributing to long-term resource development. As the company continues to make progress on its drilling campaigns and asset acquisitions, its operations are set to strengthen within the broader ASX Mining Stocks landscape.