QMines Ltd. ( (AU:QML) ) has issued an announcement.
QMines Ltd. has announced a significant resource upgrade for its Develin Creek project, with the total resource now estimated at 4.2 million tonnes, marking a 1 million tonne increase. This upgrade enhances the project’s growth and development potential, with 42% of resources now in the Indicated category, boosting confidence for future mine planning. The company has initiated open pit optimization studies for the Scorpion and Window deposits and commenced a 10,000-meter drilling program to expand and confirm the Sulphide City deposit. Develin Creek is now a key component of QMines’ growth strategy, potentially integrating into the Mt Chalmers mine plan to extend mine life and improve economic outcomes.
More about QMines Ltd.
QMines Limited is a Queensland-focused copper and gold exploration and development company, aiming to become Australia’s next mid-tier copper and gold producer. The company’s portfolio includes the Mt Chalmers and Develin Creek projects, both located within approximately 90km of Rockhampton in central Queensland, hosting significant mineral resources with strong growth potential.
YTD Price Performance: -23.33%
Average Trading Volume: 104,859
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €10.66M
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