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QMINES LIMITED — Capital/Financing Update 2021
Aug 9, 2021
65647_rns_2021-08-09_35ce97f3-fc29-470b-a607-e652499bb5fa.pdf
Capital/Financing Update
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ASX:QML 10 August 2021 QMINES LIMITED Queensland’s Next Copper & Gold Developer…
ACQUISITION OF STRATEGIC LAND HOLDINGS BODE WELL FOR MT CHALMERS COPPER DEVELOPMENT STRATEGY
HIGHLIGHTS
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Contracts executed for two additional freehold landholdings totalling 43-acres adjacent to the Mt Chalmers mine site;
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The proposed acquisitions compliment the 126-acre freehold land acquisition and “offgrid” house already purchased;
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The freehold land acquisitions expand access for exploration and drilling operations; and
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Land acquisition and ongoing resource drilling form part of the Company’s integrated strategy of future development of the Mt Chalmers project.
QMines Limited ( ASX:QML )( FSE:81V )( QMines or Company ) is pleased to announce it has recently entered into two contracts to acquire two additional freehold land packages adjacent to the Company’s flagship Mt Chalmers Project. The Company’s land holding now covers 169 acres across three freehold properties adjacent to the historic Mt Chalmers mine site. The three freehold properties when coupled with the Mt Chalmers historic mine site now covers 277 acres in total.
Freehold land acquisition is part of the Company’s integrated development strategy at the project as it continues drilling operations in and around Mt Chalmers. The Company commenced its land acquisition programme in April 2021 purchasing its first 126 acre parcel of land including an “off grid” site office and accommodation facilities which are now utilised for staff and contractors during operations.
The Company will continue to assess the acquisition of additional freehold land packages in the region as parcels become available and looks forward to updating the market with further developments as and when they occur.
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MANAGEMENT COMMENT
QMines Executive Chairman, Andrew Sparke, comments:
“We are very pleased with these strategic land acquisitions as they assist the Company with its planned copper development strategy. We wish to thank the local vendors, their agent and the local community for their support of the Company. We look forward to working closely with the vendors and other local land owners to progress our exploration efforts in a manner that benefits both QMines shareholders and the local community.”
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Figure 1: Diamond drilling at the west load of the flagship Mt Chalmers project.
If you would like to know more about the Company please contact the Company’s Chairman, Andrew Sparke at [email protected]
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ABOUT QMINES
QMines Limited ( ASX:QML )( FSE:81V ) is a Queensland based copper and gold exploration and development company. QMines is seeking to become Australia’s first zero carbon copper and gold developer. The Company owns 100% of four advanced projects with a total area of 978km². The Company’s flagship project, Mt Chalmers, is located 17km East of Rockhampton. The Project is a high-grade historic mine that produced 1.2Mt @ 3.6g/t Au, 2.0% Cu and 19g/t Ag between 1898-1982. Mt Chalmers has an Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag.[1,2]
QMines’ objective is to grow its resource base, consolidate assets in the region and assess commercialisation options. The Company has commenced an aggressive exploration program (+30,000m) providing shareholders with significant leverage to a growing resource and exploration success.
PROJECTS
MT CHALMERS (100%) SILVERWOOD (100%) WARROO (100%) HERRIES RANGE (100%)
QMINES LIMITED ACN 643 212 104
SHARES ON ISSUE: 111,372,748
DIRECTORS & MANAGEMENT
ANDREW SPARKE Executive Chairman
JAMES ANDERSON General Manager Operations
UNLISTED OPTIONS: 4,200,000 ($0.375 strike, 3 year term)
DANIEL LANSKEY Managing Director
HAMISH GRANT Project Geologist
ASX CODE: FSE CODE: QML 81V
ELISSA HANSEN
Non-Executive Director & Company Secretary
This announcement has been approved and authorised by the Board of QMines Limited.
QMines Limited (ASX:QML)
CONTACT
Registered Address: Suite J, 34 Suakin Drive, Mosman NSW 2088 Postal Address: PO BOX 36 Mosman NSW 2088 Telephone: +61 (2) 8915 6241 Email:
Website: www.qmines.com.au Email: [email protected]
Daniel Lanskey, Managing Director Peter Nesveda , Investor Relations Investor Relations , Deutschland
Email: [email protected] Email: [email protected] Email: [email protected]
Notes:
¹ Refer to the Independent Geologist Report commencing on page 84 of the Prospectus dated 16 March 2021 available at https://qmines.com.au/prospectus-2/
2 The Company confirms that it is not aware of any new information or data that materially affects the information included in the Prospectus dated 16 March 2021 and that all material assumptions and technical parameters underpinning the resources estimates in the Prospectus dated 16 March 2021 continue to apply and have not materially changed.
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