Tillkännagivande • May 27
QMines Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. QMines Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 95,602,294
Price\Range: AUD 0.0523
Transaction Features: Subsequent Direct Listing Tillkännagivande • Apr 22
QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million. QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 95,602,294
Price\Range: AUD 0.0523
Transaction Features: Subsequent Direct Listing New Risk • Mar 17
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$8.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$8.8m free cash flow). Earnings have declined by 1.0% per year over the past 5 years. Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (AU$82k revenue, or US$58k). Minor Risk Market cap is less than US$100m (AU$31.1m market cap, or US$22.0m). Tillkännagivande • Dec 15
QMines Limited has completed a Follow-on Equity Offering. QMines Limited has completed a Follow-on Equity Offering.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,054,194
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0033
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 54,139,020
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0033
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 279,718
Transaction Features: Subsequent Direct Listing Tillkännagivande • Nov 28
QMines Limited has completed a Follow-on Equity Offering in the amount of AUD 7.5 million. QMines Limited has completed a Follow-on Equity Offering in the amount of AUD 7.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,054,194
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0033
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 55,309,443
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0033
Transaction Features: Subsequent Direct Listing Tillkännagivande • Nov 13
QMines Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million. QMines Limited has completed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,272,727
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0011 Tillkännagivande • Oct 24
QMines Limited, Annual General Meeting, Nov 24, 2025 QMines Limited, Annual General Meeting, Nov 24, 2025. Location: meeting room, building 34, suakin drive, mosman nsw 2088, Australia Tillkännagivande • Oct 04
QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million. QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 1.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,272,727
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0011 New Risk • Sep 29
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Revenue is less than US$1m (AU$78k revenue, or US$51k). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$31.2m market cap, or US$20.5m). Tillkännagivande • Sep 27
QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 7.5 million. QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 7.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,054,194
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0033
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 55,309,443
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0033
Transaction Features: Subsequent Direct Listing Tillkännagivande • Jul 07
QMines Limited (ASX:QML) completed the acquisition of Mount Mackenzie Pty Limited from Resources & Energy Group Limited (ASX:REZ). QMines Limited (ASX:QML) signed a binding term sheet to acquire Mount Mackenzie Pty Limited from Resources & Energy Group Limited (ASX:REZ) for AUD 2.353 million on April 15, 2025. A cash consideration of AUD 1 million will be paid by QMines Limited. The consideration consists of 33 million common equity of QMines Limited to be issued for common equity of Mount Mackenzie Pty Limited. As part of consideration, AUD 1 million is paid towards common equity of Mount Mackenzie Pty Limited.
The transaction is subject to approval of offer by acquirer shareholders and consummation of due diligence investigation.
As of June 19, 2025, QMines Limited (ASX:QML) has completed the due diligence.
QMines Limited (ASX:QML) completed the acquisition of Mount Mackenzie Pty Limited from Resources & Energy Group Limited (ASX:REZ) on July 7, 2025.
As of July 7, 2025, all the remaining conditions precedent under the acquisition term sheet have now been satisfied. New Risk • May 19
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.4m (US$9.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (90% increase in shares outstanding). Revenue is less than US$1m (AU$78k revenue, or US$50k). Market cap is less than US$10m (AU$15.4m market cap, or US$9.95m). Board Change • Apr 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Independent Non-Executive Director & Company Secretary Elissa Hansen was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Tillkännagivande • Apr 15
QMines Limited (ASX:QML) signed a binding term sheet to acquire Mount Mackenzie Pty Limited from Resources & Energy Group Limited (ASX:REZ). QMines Limited (ASX:QML) signed a binding term sheet to acquire Mount Mackenzie Pty Limited from Resources & Energy Group Limited (ASX:REZ) for AUD 2.353 million on April 15, 2025. A cash consideration of AUD 1 million will be paid by QMines Limited. The consideration consists of 33 million common equity of QMines Limited to be issued for common equity of Mount Mackenzie Pty Limited. As part of consideration, AUD 1 million is paid towards common equity of Mount Mackenzie Pty Limited.
The transaction is subject to approval of offer by acquirer shareholders and consummation of due diligence investigation. New Risk • Mar 14
New major risk - Revenue and earnings growth Earnings have declined by 9.2% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 9.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m (AU$76k revenue, or US$48k). Market cap is less than US$10m (AU$15.5m market cap, or US$9.72m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). New Risk • Feb 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.5m (US$9.81m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (59% increase in shares outstanding). Revenue is less than US$1m (AU$178k revenue, or US$113k). Market cap is less than US$10m (AU$15.5m market cap, or US$9.81m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Tillkännagivande • Feb 17
QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 6 million. QMines Limited has filed a Follow-on Equity Offering in the amount of AUD 6 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 85,197,743
Price\Range: AUD 0.045
Discount Per Security: AUD 0.0027
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,135,594
Price\Range: AUD 0.045
Transaction Features: Subsequent Direct Listing New Risk • Jan 13
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (63% increase in shares outstanding). Revenue is less than US$1m (AU$178k revenue, or US$110k). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$19.9m market cap, or US$12.3m). Tillkännagivande • Oct 28
QMines Limited, Annual General Meeting, Nov 29, 2024 QMines Limited, Annual General Meeting, Nov 29, 2024. Location: at meeting room, building 34, suakin drive, mosman 2088., Australia New Risk • Oct 20
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 66% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m (AU$178k revenue, or US$119k). Minor Risks Share price has been volatile over the past 3 months (17% average weekly change). Market cap is less than US$100m (AU$26.5m market cap, or US$17.7m). Tillkännagivande • Sep 30
QMines Limited completed the acquisition of Develin Creek Copper-Zinc Project from Mackerel Copper Pty Ltd for AUD 4.5 million. QMines Limited agreed to acquire Develin Creek Copper-Zinc Project from Mackerel Copper Pty Ltd for AUD 4.5 million on August 28, 2023. As of September 5, 2023, issued 8,403,361 fully paid ordinary shares in part consideration for the acquisition of 51% of the Develin Creek Copper-Zinc Project. During the third quarter of 2023, QMines acquired 51% stake in the Develin Creek copper-zinc project on August 28, 2023. The transaction is subject to approval of offer by acquirer shareholders. As of September 23, 2024 the transaction was approved by the shareholders.
QMines Limited completed the acquisition of Develin Creek Copper-Zinc Project from Mackerel Copper Pty Ltd for AUD 4.5 million on September 30, 2024. QMines acquired remaining 49% stake in the Develin Creek copper-zinc project on September 30, 2024. New Risk • Aug 11
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 61% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Shareholders have been substantially diluted in the past year (61% increase in shares outstanding). Revenue is less than US$1m (AU$195k revenue, or US$129k). Market cap is less than US$10m (AU$13.7m market cap, or US$9.02m). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). New Risk • May 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.4m free cash flow). Revenue is less than US$1m (AU$195k revenue, or US$129k). Market cap is less than US$10m (AU$14.1m market cap, or US$9.30m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (31% increase in shares outstanding). Recent Insider Transactions Derivative • May 08
Executive Chairman & MD exercised options to buy AU$194k worth of stock. On the 3rd of May, Andrew Sparke exercised options to buy 3m shares at a strike price of around AU$0.061, costing a total of AU$174k. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. Since June 2023, Andrew's direct individual holding has increased from 28.03m shares to 29.64m. Company insiders have collectively bought AU$444k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Jan 25
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.2m (US$9.99m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.7m free cash flow). Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Revenue is less than US$1m (AU$22k revenue, or US$15k). Market cap is less than US$10m (AU$15.2m market cap, or US$9.99m). Tillkännagivande • Nov 23
QMines Limited Announces Board Changes QMines Limited announced that Simon Kidston has submitted his resignation as Non-Executive Chairman and director of the company to focus on his other business interests. The company's Managing Director, Andrew Sparke, has been appointed Executive Chairman of the company going forward. Recent Insider Transactions Derivative • Nov 08
MD & Executive Director exercised options to buy AU$102k worth of stock. On the 3rd of November, Andrew Sparke exercised options to buy 1m shares at a strike price of around AU$0.077, costing a total of AU$109k. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. Since June 2023, Andrew has owned 28.03m shares directly. Company insiders have collectively bought AU$224k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Nov 07
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$15.3m (US$9.84m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$4.7m free cash flow). Shareholders have been substantially diluted in the past year (51% increase in shares outstanding). Revenue is less than US$1m (AU$22k revenue, or US$14k). Market cap is less than US$10m (AU$15.3m market cap, or US$9.84m). Tillkännagivande • Oct 24
QMines Limited, Annual General Meeting, Nov 24, 2023 QMines Limited, Annual General Meeting, Nov 24, 2023, at 12:00 AUS Eastern Standard Time. Location: Meeting Room Building 34, Suakin Drive Mosman NSW 2088 Mosman New South Wales Australia Agenda: To receive and consider the Annual Financial Report of the Company and its controlled entities for the year ended 30 June 2023 which includes the Financial Report and the Directors' and Auditor's Reports; to consider and, if thought fit, to pass, with or without amendment, Remuneration Report as contained in the Company's Annual Financial Report for the financial year ended 30 June 2023 be adopted; to consider election of Mr. Simon Kidston; to consider election of Mr. Peter Caristo; to consider the rectification of Capital raise; and to discuss other matters. New Risk • Sep 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 55% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.8m free cash flow). Shareholders have been substantially diluted in the past year (55% increase in shares outstanding). Revenue is less than US$1m (AU$495 revenue, or US$321). Minor Risks Currently unprofitable and not forecast to become profitable over next 3 years (AU$2.0m net loss in 3 years). Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$19.1m market cap, or US$12.4m). Tillkännagivande • Aug 29
QMines Limited agreed to acquire Develin Creek Copper-Zinc Project from Zenith Minerals Limited for AUD 4.5 million. QMines Limited agreed to acquire Develin Creek Copper-Zinc Project from Zenith Minerals Limited for AUD 4.5 million on August 28, 2023. New Risk • Jun 23
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$6.8m free cash flow). Revenue is less than US$1m (AU$495 revenue, or US$331). Minor Risks Less than 3 years of financial data is available. Currently unprofitable and not forecast to become profitable over next 3 years (AU$2.0m net loss in 3 years). Share price has been volatile over the past 3 months (13% average weekly change). Shareholders have been diluted in the past year (50% increase in shares outstanding). Market cap is less than US$100m (AU$19.6m market cap, or US$13.1m). Tillkännagivande • Feb 14
Qmines Limited Provides the Following Update on Exploration and Resource Drilling Operations At Its Mt Chalmers Copper and Gold Project, Located 17Km North-East of Rockhampton, Queensland QMines Limited provided the following update on exploration and resource drilling operations at its Mt Chalmers Copper and Gold Project, located 17km north-east of Rockhampton, Queensland (Figure 1). The Company completed a six-hole reverse circulation (RC) drilling program at Mt Chalmers for 1,190 metres at the end of November 2022. With the Mt Chalmers third and fourth Mineral Resource Estimate (MRE) delivered in November, this recent round of drilling aimed to test more distal extents of the deposit. Base and precious metal results from this drilling can be seen in Table 1, drill collar locations in Figure 2 and cross section AA' in Figure 3. The drilling results have delivered several intersections with copper equivalent grades up to 3.03% CuEq in hole MCRC051, which extends the mineralisation towards the north-west. In the north, drillhole MCRC051 intersected high-grade mineralisation of 3.03% CuEq over 12 metres from 158 metres. Nearby holes MCRC052 and MCRC053 were able to close the resource to the northwest. Hole MCRC050 was a greenfields exploration hole that tested a soil anomaly over a structural target. While this hole failed to intersect mineralisation it did end in altered footwall rock similar to the alteration underlying the Mt Chalmers resource. To the south, drillhole MCRC054 intersected 0.32% CuEq over 10 metres from 44 metres and 0.31% CuEq over 8 metres from 91 metres while drillhole MCRC055 intersected 0.75% CuEq over 14 metres from 83 metres and 0.85% CuEq over 3 metres from 47 metres. Mineralisation in these two drillholes is dominated by sphalerite (zinc) which reflects the distal extension of the system. Future drilling is expected to target Mt Warminster before moving to the large regional Cu-Zn soil anomalies. Drill targeting will greatly benefit from the recently completed VTEM Max airborne EM survey which is has recently been completed and is undergoing interpretation. Tillkännagivande • Feb 03
Qmines Limited Announces Andrew Sparke Will Move to the Role of Managing Director QMines Limited announced that Simon replaces Andrew Sparke as executive chairman who will move to the role of managing director of the company moving forward. Tillkännagivande • Feb 01
QMines Announces Management Changes QMines Limited announced that it has appointed Mr. Simon Kidston to the role of Non-Executive Chairman of the Company effective immediately. Simon replaces Andrew Sparke as Executive Chairman who will move to the role of Managing Director of the Company moving forward. Simon is a Director and Co-Founder of Genex Power Limited. Since Genex's inception, Simon and his team have funded, permitted and constructed a diversified $1 billion portfolio of renewable energy assets In Queensland and New South Wales. Outside of his role with Genex, Mr. Kidston also serves on a number of other boards including Non-executive Director of Lithium Plus Minerals, Non-executive Director of QC Copper & Gold Inc. and Chairman of Permagen, a premium private carbon credit developer. Tillkännagivande • Jan 20
QMines Limited Announces Commencement of 1,814Km Airborne (Helicopter) Electromagnetic (EM) Survey At Mt Chalmers Copper and Gold Project QMines Limited announced that its planned 1,814km airborne (helicopter) electromagnetic (EM) survey has commenced at the Company's Mt Chalmers Copper and Gold Project, located 17km north-east of Rockhampton, Queensland. Subject to weather or other unforeseen events, the survey is expected to be completed in early February 2023. The survey involves a helicopter flying during daylight hours at a nominal helicopter height of approximately 82m and loop height of 35m above ground level. Survey lines shall be flown in a north south (0-180) line direction, with lines expected to be approximately 100m apart. To date, the survey is approximately 8% complete with recent rain conditions expected to clear. The data acquired from this survey will assist QMines to map the extent of geological features such as rocks, faults, soil types and landforms at Mt Chalmers. Next: Updated metallurgical testwork for the Mt Chalmers deposit; Delivery of a pit optimisation study leading to the announcement of a maiden ore reserve statement; Complete the planned Scoping Study on the Mt Chalmers project assessing the potential for a stand along mining operation; Complete the current VTEMTM Max airborne Electromagnetic survey allowing the analysis, ranking and drilling of new anomalies; and Commence drilling prospective regional targets. Tillkännagivande • Dec 06
QMines Limited Announces Planned Drilling At the Mt Warminster Volcanic Hosted Massive Sulphide (VHMS) Exploration Target, Located 1.6Km North-West of the Company's Mt Chalmers Copper and Gold Project QMines Limited announced planned drilling at the Mt Warminster Volcanic Hosted Massive Sulphide (VHMS) Exploration Target, located 1.6km north-west of the Company's Mt Chalmers Copper and Gold Project. The Mt Chalmers project is located 17km north-east of Rockhampton, Queensland. Recent acquisition and modelling of historical VTEM data collected from the Mt Chalmers area has revealed a notable Electro Magnetic (EM) response at Mt Warminster, which is known to host coincident copper and zinc geochemical anomalies where historical drilling has intersected shallow base metal mineralisation. Historical drilling by Geopeko in 1977 and 1981 (56 holes) included 25 drillholes with significant intercepts. These include 15 drillholes with results reporting over 1% base metals, principally Zn with lesser Pb, Cu and Ag. Drill intercepts include 12m @ 2.1% Zn in hole MWPDH56 and 18m @ 0.7% Cu, 0.2% Pb, 0.6% Zn and 14g/t Ag in hole MWPDH58. Mineralisation has been reported as forming a gently dipping tabular body of largely disseminated base metal sulphides incorporating semi-massive sulphide pods. This geometry, and the dominant Zn-Pb signature is interpreted to be the distal apron of a VHMS system. Adjacent VTEM anomalies to the immediate west may vector towards increased massive sulphides in that direction. As a result, QMines is preparing to drill both infill holes to classify a resource, and step-out holes in the search for massive sulphides. Drilling activities are expected to resume at the south of the Mt Chalmers resource in January and then at Mt Warminster following the acquisition of the airborne VTEM Max survey. Historical underground workings have revealed several lenticular semi-massive sulphide bodies within a broad zone of disseminated base metal sulphides with associated sericite and kaolin alteration, hosted by pyrite-altered siltstone. A broad alteration zone exists which is strongest adjacent to an andesite sill, with the sequence dipping towards the east (Hunns, 2001). The mineralised horizon appears to be repeated below the andesite with Zn values up to 0.48% being intersected in disseminated mineralisation near the bottom of hole MWPDH02. Based on historical drilling, the Mt Warminster Exploration Target was modelled as part of an Independent Geologist's Report by H&SC in October 2021 which determined that the target measures 500m in strike, 120 - 350m in width and has a thickness ranging from 6 - 40m. Using a 1% ZnEq cut-off, H&SC estimated an Exploration Target of 1.5 - 1.8Mt @ 0.5%-0.7% Zn, 0.1%-0.2% Cu, 0.25%-0.35% Pb and 8g/t-12g/t Ag. With historical drillholes spaced at a 200m x 100m grid (with some infill at 100m x 50m) there is scope for the QMines resource definition infill drilling to move to a 50m x 25m grid with additional step-out exploration holes to the west. Price Target Changed • Nov 22
Price target decreased to AU$0.41 Down from AU$0.74, the current price target is provided by 1 analyst. New target price is 91% above last closing price of AU$0.21. Stock is down 44% over the past year. The company is forecast to post a net loss per share of AU$0.025 next year compared to a net loss per share of AU$0.028 last year. Tillkännagivande • Nov 22
QMines Limited Announces Third Mineral Resource Estimate for the Mt Chalmers Deposit and Maiden MRE for the Woods Shaft Deposit At Its Flagship Mt Chalmers Project QMines Limited announced its third Mineral Resource Estimate (MRE) for the Mt Chalmers deposit and maiden MRE for the Woods Shaft deposit at its flagship Mt Chalmers Project, located 17km north-east of Rockhampton in Queensland. Hyland Geological and Mining Consultants (HGMC) have completed a new MRE based on additional drilling, improved geological modelling and a significant increase in bulk density readings. Importantly, the updated Mt Chalmers MRE delivers a more robust and expanded MRE with an increase to the Measured and Indicated categories which now accounts for 88% of the Mt Chalmers MRE, and 84% of the combined resource base which includes the Woods Shaft deposit. This MRE includes the maiden MRE for the Woods Shaft deposit, located 700 metres to the southwest of the Mt Chalmers main deposit. The new MRE further strengthens the Company's view that Mt Chalmers has future development potential. QMines' first MRE at Mt Chalmers was completed in February 2021 by Mr. Simon Tear of H&S Consulting (H&SC) which was published in QMines Prospectus dated 16 March 2021. This maiden resource was based on a 2005 resource estimate by McDonald Spiejers as part of a prospectus for Echo Resources which itself was based on a 1996 estimate by McDonald Spiejers. The Company's second MRE was completed in November 2021 by Mr. Stephen Hyland of HGMC and announced on 1st December 2021.¹ This MRE included data from the maiden resource and the results from QMines drilling undertaken in 2021. HGMC estimated a 38% increase to 5.8Mt @ 1.7% copper equivalent (CuEq) for 101,000t contained CuEq with 78% in the Measured & Indicated categories. The Company's third Mineral Resource Estimate is a new independent estimate undertaken by HGMC for QMines. The MRE includes all historical drillhole data and all drilling results delivered by the Company since listing on the ASX in May 2021 with all relevant drilling announcements. The Mt Chalmers resource (excluding Woods Shaft) now stands at 11.3Mt @ 0.76% Cu, 0.42g/t Au, 4.52g/t Ag, 0.22% Zn and 0.08% Pb for 85.6Kt Cu, 153,240oz Au, 1.6Moz Ag, 24.4kt Zn and 9.6kt Pb. Measured and Indicated categories now account for 88% of the total Mt Chalmers resource. Maiden Woods Shaft Resource: The Woods Shaft deposit is located 700 metres to the southwest of the Mt Chalmers main deposit. Drilling has defined mineralisation to extend over 250m in strike and up to 40m wide. Mineralisation is from surface to a depth of 90m in places and contains gold and base metal mineralisation. The Woods Shaft deposit is a gold/copper dominant VHMS deposit. The mineral resource estimate is predominantly from the preserved stringer zone. The Woods Shaft deposit was reported as an Exploration Target prior to listing, details of which can be found in the Company's Prospectus, Independent Geologist Report, prepared by H&S Consultants Pty Ltd.¹ Recent drilling has provided sufficient confidence in historic drilling results to calculate a maiden Inferred Mineral Resource Estimate. The total Inferred resource for Woods Shaft stands at 540kt @ 0.5% Cu and 0.95g/t Au for 2,700t Cu and 16,440 oz Au. Mt Chalmers Project Resource: The Mt Chalmers project has demonstrated continual growth since QMines acquisition in January 2021. This includes three resource updates on the historic Mt Chalmers deposit and now the addition of a maiden Inferred resource at Woods Shaft. QMines remains focused on growing the resource by converting the two remaining Exploration Targets to mineral resources and by drilling a number of new copper and zinc soil anomalies and other regional targets with a view to making a potential discovery. On a copper equivalent basis, the total resource now stands at 11.86Mt @ 1.22% CuEq for 144,700t CuEq, an increase of 43% on a metal basis from the 1 December 2021 update. The total project resource base now includes contributions from Woods Shaft. Tillkännagivande • Nov 07
Qmines Limited Provides Update on Further Broad Copper & Gold Results At Woods Shaft QMines Limited provided the following update on exploration and resource drilling operations at its Mt Chalmers Copper and Gold Project, located 17km north-east of Rockhampton, Queensland. Highlights: Results for the final four drill holes have now been received; Three holes drilled at Woods Shaft and one hole at Mt Chalmers for 435 metres; Results include further broad high-grade intersections including: 25m @ 1.04% CuEq from 30m; 19m @ 1.18% CuEq from 4m; and 11m @ 1.37% Cu Eq from 79m. Tracker 3 reconnaissance now complete with large gossans identified; Mt Chalmers Resource Upgrade (Third Resource) expected imminently; and Woods Shaft maiden Resource (Fourth Resource) expected in Q1-2023. The Company completed an eleven-hole Reverse Circulation (RC) drilling program at the Woods Shaft Exploration Target¹ and four additional holes at Mt Chalmers for 1,455 metres drilled. Drilling was completed at the end of September 2022 and results have now been received for the four outstanding holes drilled at Woods Shaft and from one outstanding hole drilled at Mt Chalmers. The drilling results from the Woods Shaft prospect have delivered several broad intersections with exceptional copper equivalent grades up to 8.26% Copper Equivalent (CuEq) and 6.21% CuEq in hole QMWSRC001 and 5.26% CuEq in hole QMWSRC007. The latest results include two broad zones of 25m @ 1.04% CuEq and 11m @ 1.37% CuEq in hole QMWSRC011 which extend the mineralisation towards the north where it remains open. Results from the last Woods Shaft hole to be drilled, step-out hole QMWSRC011 intersected two mineralised zones 25m @ 1.04% CuEq from 30m and 11m @ 1.37% CuEq from 79m. Mineralisation is open to the north of the recent drilling. Background: The Woods Shaft prospect is situated 0.7km to the southwest of the Mt Chalmers main deposit. It has been defined by historic drilling to be over 250m in strike length and up to 40m wide. Mineralisation is from surface to a depth of 90m in places and contains gold and base metal mineralisation. The geology of the deposit appears similar to the Mt Chalmers main lode and is dominated by a sulphide stringer zone. Historical resource estimates were compiled by historic explorers for this prospect but were not reported in accordance with JORC 2012. RC drilling at Woods Shaft has been undertaken by QMines to validate historical drilling completed by previous explorers and to deliver the historical Exploration Target into a JORC 2012 compliant Maiden Resource. The Woods Shaft drill program has delivered significant broad and high-grade intersections from within areas where minimal drilling was undertaken by previous explorers. The recent drilling will enable the delivery of the maiden JORC 2012 Mineral Resource Estimate (MRE) for this part of the Mt Chalmers Copper project. Details relating to the original Woods Shaft Exploration Target can be found in the Company's Prospectus, Independent Geologist Report, prepared by H&S Consultants Pty Ltd. The Tracker 3 soil anomaly was briefly visited and several large surface gossans were identified. Classic boxwork after massive sulphides were identified which may in part explain the associated Cu-Zn soil anomalies. Gossaous stringers have also been identified at high angles to and adjacent to these massive gossans and these may reflect T-shaped stringer zones. The largest gossan identified so far measures some 160m long by 20m wide. A total of 16 first pass rock chip samples were collected from several gossans and analysed by ALS Brisbane for gold and other 48 elements. Gold was analysed by 25g fire assay with AAS finish and the remaining 48 element scans were by 4 acid digest with ICP-MS/ES. Results revealed generally low base metal and gold concentrations as is typical of surface depletion in oxidized gossan caps. Better results included 0.53 g/t Ag in sample MCRK014 and 0.1% Cu in samples MCRK007 and MCRK008. What's Next?: Continued drilling operations at Mt Chalmers for the planned 30,000 metre RC and Diamond drilling programs; Regional airborne electromagnetic (EM) survey over the Mt Chalmers project to improve drill targeting for future drilling campaigns; Further surface exploration and mapping at Tracker 3, one of four large copper and zinc soil anomalies located in the region; Deliver a third Mineral Resource Estimate for Mt Chalmers in fourth quarter 2022; and Deliver a fourth Mineral Resource Estimate for Woods Shaft in first quarter 2023. Note: MGA 94_56: In reported exploration results, length weighted averages are used for any non-uniform intersection sample lengths. Length weighted average is (sum product of interval x corresponding interval assay grade), divided by sum of interval lengths and rounded to two decimal points. No top cuts have been considered in reporting of grade results, nor was it deemed necessary for the reporting of significant intersections. The value of some of the reported CuEq drill intercepts may be driven by the gold content over the copper content. The results are presented here in CuEq % rather than AuEq g/t for the purposes of consistency with previous releases. Woods Shaft is a satellite deposit to the Mt Chalmers deposit which is copper dominant. Tillkännagivande • Oct 27
QMines Limited Provides Outstanding High-Grade Results from Woods Shaft QMines Limited provided the following update on exploration and resource drilling operations at its Mt Chalmers Copper and Gold Project, located 17km north-east of Rockhampton, Queensland. In September 2022, the Company completed a fifteen-hole RC drilling program at the Woods Shaft Exploration Target and at Mt Chalmers for 1,635 metres drilled. The Company has now received the results from eight of the eleven holes drilled at Woods Shaft, and three of the four holes drilled at Mt Chalmers. Results from four holes (QMWRC009-11 from Woods Shaft and MCRC049 from Mt Chalmers) drilled during September are awaited. The samples are currently at ALS Laboratory and are expected in the coming weeks. The drilling results from the Woods Shaft prospect have delivered several broad high-grade intersections with exceptional copper equivalent grades of up to 8.26% in hole QMWSRC001, 5.26% in hole QMWSRC007 and 8.33% from hole MCRC046 at Mt Chalmers. The Woods Shaft prospect is situated 0.7km to the southwest of the Mt Chalmers main deposit and has been defined by previous explorers drilling to be over 250m in strike length and up to 40m wide. Mineralisation is from surface to a depth of 90m in places and contains gold and base metal mineralisation. The geology of the deposit appears similar to that of the Mt Chalmers main lode and is dominated by a sulphide stringer zone. Mineral resource estimates for Woods Shaft were compiled by previous explorers prior to the release of the JORC 2012 code. However due to the lack of QAQC data, a resource that complies with the current code could not be established. RC drilling at Wood Shaft has been undertaken by QMines to validate the drilling completed by previous explorers with a view to delivering a maiden JORC 2012 mineral resource in first quarter-2023. Tillkännagivande • Sep 29
QMines Limited, Annual General Meeting, Nov 02, 2022 QMines Limited, Annual General Meeting, Nov 02, 2022, at 11:01 AUS Eastern Standard Time. Location: Meeting Room, Building 34, Suakin Drive Mosman NSW 2088 Mosman New South Wales Australia Agenda: To consider and consider the Annual Financial Report of the Company and its controlled entities for the year ended 30 June 2022 which includes the Financial Report and the Directors' and Auditor's Reports; to consider election of Ms. Elissa Hansen; and to consider other matters. Tillkännagivande • Sep 28
QMines Limited Announces Mt Chalmers Continues to Deliver Outstanding Drilling Results QMines Limited provided the following update on exploration and resource drilling operations at its flagship Mt Chalmers Copper and Gold Project, located 17km north-east of Rockhampton, Queensland. Reverse Circulation (RC) drilling at the Mt Chalmers project continues to deliver consistent wide mineralised intersections with high-grade assays received from multiple drillholes. Peak grades include 6.6% Cu and 3.5g/t Au in hole MCRC038, 6.8% Cu and 11.45g/t Au in MCRC041 and 10.0% Cu and 3.6g/t Au in MCRC044 over individual metres assayed. The Company has continued to accelerate drilling operations at Mt Chalmers with current drilling focused on increasing the Mt Chalmers Mineral Resource Estimate (MRE). During the period, the Company completed twenty-four of a planned forty-hole drill program which commenced in August 2022. Approximately 4,022 metres of RC drilling has been completed to date. The results from fifteen of the twenty-four holes drilled are reported in this announcement. QMines has now completed approximately 14,000 metres of RC and diamond drilling at the Mt Chalmers project. RC drilling operations continue at Mt Chalmers with the Company completing twenty-four RC holes for 4,022 metres since mid-July 2022. The recent drilling program has focused on areas of poor drill coverage. The drilling continues to deliver visible sulphide mineralisation including chalcopyrite and sphalerite, with mineralised intersections varying in length and concentration of sulphides seen in each drillhole. Multiple drillholes have intersected high-grade mineralisation with peak grades of up to 6.6% Cu and 3.5g/t Au in drillhole MCRC038, 6.8% Cu and 11.45g/t Au in drillhole MCRC041 and 10.0% Cu and 3.6g/t Au in drillhole MCRC044 over individual metres assayed. The Company continues to deliver samples to ALS on a weekly basis from ongoing drilling operations and will continue to report these results as they come to hand. The current RC drilling operations at Mt Chalmers are expected to cease on 5th October to meet the November MRE deadline. Drilling at Mt Chalmers is scheduled to recommence in November and continue into December 2022, subject to the onset of the Queensland wet season. The results that don't make the 5th October cut off will fall into a further resource update planned in 2023. In December 2021, QMines delivered its second MRE for the Mt Chalmers Copper Project since listing the Company in May 2021. The MRE was delivered by independent resource consultants, Hyland Geological and Mining Services (HGMC). At the completion of the current RC drilling program in October, HGMC will commence the third MRE utilising all new drillhole data, and more significantly, the recently completed Mt Chalmers geological model. Consistent with the Company's strategy to deliver the third MRE in 2022, the Company has now delivered in excess of 14,000 metres of drilling at Mt Chalmers. It has undertaken initial preliminary metallurgical test work, delivering excellent recovery results as announced to the market on 30th March 2022. Significantly, over the past two months it has delivered a detailed geological model for the Mt Chalmers project. The MRE is scheduled to be finalised and delivered to the market in November 2022. Faulting has played an important part in defining the geometry, and the geology of the Mt Chalmers deposit which is much better understood as a result. This modelling has also enabled a clear domaining of metallurgical recoveries, and future MRE calculations will benefit as a result. Ongoing drilling continues to expand the model, which is being regularly updated. Tillkännagivande • Jul 25
QMines Limited Provides an Update on Mt Chalmers Copper and Gold Project QMines Limited provided the following results from the ongoing RC drilling program at its flagship Mt Chalmers copper and gold project, located 17km north-east of Rockhampton, Queensland. Further high-grade copper equivalent (CuEq) results were received from the ten most recent RC drill holes (MCRC021- MCRC030) reported from the June - July drilling program. Peak grades of 17.28% CuEq (MCRC029) and 7.25% CuEq (MCRC023) were returned. RC drilling operations continue at Mt Chalmers with the Company completing a further two RC holes for 450 metres since returning to site. Multiple drill pads have also been prepared at the southern end of the Mt Chalmers West Pit in preparation for resource extension drilling to the south. The holes drilled to date and represent the continuation of the RC drilling program. Planned holes and holes completed from the June-July drilling programs are summarised. Significant results from this recent Mt Chalmers drilling program. RC holes MCRC021 - MCRC027 were drilled along the western side of both the Main Pit and the West Pit and have closed off the mineralisation on this side of the project. Holes MCRC028 - MCRC032 were drilled to the north of the Main Pit where mineralisation remains open. Results for holes MCRC021 - MCRC030 have been received and have returned high-grade results over broad intervals including 37m @ 2.9% CuEq in MCRC029 and 25m @ 1.65% CuEq in MCRC023. The Mt Chalmers drilling program will continue throughout 2022 with results expected to be announced on a regular basis throughout the remainder of the year. The aim of the ongoing drill program is to expand (step-out) and upgrade the resource by infilling areas of low confidence. Mineralisation intersected in some holes is broader than expected, based on historic drilling. In addition to broader zones of mineralisation, stacked mineralisation horizons have been noted. The Company has focussed drilling at the northern end of the project and will move the RC rig to the south end of the West Pit this month, where mineralisation also remains open. The Company has completed 10,581 meters of drilling (4,679 meters of RC and 5,902 meters of diamond) to date at Mt Chalmers. The increased drill density, together with deeper drilling, is delivering a more detailed geological and structural interpretation for the Mt Chalmers project. The Company is drilling grouped holes from various prepared drill pads due to terrain and access. In June, the Company commissioned Mitre Geophysics Pty Ltd. to complete a downhole electromagnetic (DHEM) orientation survey to better understand the electromagnetic (EM) response of the Mt Chalmers mineralisation. The results of the downhole orientation survey are to be used to design a more extensive airborne EM survey over a large part of the Mt Chalmers tenement package. Drillholes MCRC009 and MCDD005 were used as the first survey holes. The results from the downhole EM are not fully understood. The outcome of the survey showed a weak response returned from the mineralised intersections in the surveyed holes. However, a strong off-hole response from drillhole MCRC009 was returned. Modelling of the response proved difficult and some unusual artifacts were noted in the data (however the quality of the raw data was deemed to be good). As a result of the DHEM survey results, the Company has reviewed historical drillhole data adjacent to the MCRC009 off-hole response and can confirm four historical holes intersected significant copper mineralisation in stringer zones including DDH0014 intersected 22.6m @ 2.05% Cu, DDH0013 intersected 15.8m @ 2.05% Cu, DDH0012 intersected 22m @ 1.49% Cu and DDH0009 which intersected 22m @ 1.02% Cu. To confirm the veracity of the response and the suitability of EM as an effective exploration tool at Mt Chalmers, the Company plans to target the off-hole response with an angled RC hole, and if required complete an additional downhole EM survey. Airborne EM may prove to be a rapid assessment and targeting tool over the wider Mt Chalmers project, assisting in targeting the large Cu and Zn in soil anomalies at Tracker 1, 2 and 3. Tillkännagivande • Jul 04
QMines Limited Provides Exploration Update for Mt Chalmers Copper and Gold Project QMines Limited provided the following update on recent diamond and RC drilling programs at its Mt Chalmers copper and gold Project, located 17km north-east of Rockhampton in Queensland. Infill and extensional drill holes in and around the Mt Chalmers resource have retuned several impressive mineralised zones since drilling commenced at the Mt Chalmers Project in March 2021. Outstanding results have been retuned in multiple diamond and RC drillholes with peak grades up to 38.8% CuEq in drill hole MCDD017. Diamond and RC drilling has been ongoing at Mt Chalmers since drilling operations commenced in March 2021. The Company has completed approximately 5,900 meters of diamond and approximately 4,300 metres of RC drilling to date. To accelerate RC drilling operations the Company made the decision to acquire an RC drill rig with support vehicles and equipment. Experienced drilling personnel were hired to manage, run and maintain the drilling equipment. QMines has also built a base of operations and workshops on site during January - March 2022. The new RC rig commence drilling in April 2022 at the Mt Chalmers Project. The Company is now reaping the benefits of this investment with an accelerated drill program and an increase in samples delivered to the laboratory for analysis. This has allowed the Company to move towards an upgraded resource at Mt Chalmers faster than would have otherwise been possible. Recent analysis has shown that some of the historical drilling was not analysed for precious metals or zinc. All drilling by QMines has been analysed for a broad suite of economic minerals including copper, gold, silver, lead and zinc. The infill drilling will not only improve confidence categories in the planned Mineral Resource Estimate, but also allow for better estimation of gold and silver. Additional work is being undertaken to better understand the distribution and controls on gold mineralisation within the system as recent drilling has highlighted the potential for a late gold overprint. The Mt Chalmers drilling program will continue with the Company planning to deliver a further 20,000 meters of RC drilling in line with the projects planned 30,000 meters of drilling. Investors can expect consistent news flow with results to be reported to the market on a regular basis. Tillkännagivande • Jun 16
QMines Limited Provides Results from the Ongoing Rc Drilling Program at Its Mt Chalmers Copper Project QMines Limited provided the following results from the ongoing RC drilling program at its Mt Chalmers Copper Project, located 17km north-east of Rockhampton in Queensland. High-grade copper equivalent (CuEq) results have been intersected in the nine most recent RC drill holes reported from the May - June drilling program, including up to 5.1% CuEq in MCRC012 and 4.1% CuEq in MCRC017. Base and precious metal grades from the May - June drilling program. The Company continued RC drilling operations at Mt Chalmers during June with an additional eight RC holes completed for 1,015 metres drilled. The holes drilled to date represent the continuation of the planned 30,000 metre RC program. All drillholes were sampled at one metre intervals with samples being submitted to ALS Laboratories in Brisbane for assay. The aim of the current drill program is to expand the resource (step-out drilling), and upgrade the resource by infilling areas of low confidence. Mineralised intersections in some holes are broader than expected based on historic drilling. In addition to broader zones of mineralisation, stacked mineralisation horizons have also been noted. The current program comprises a planned 30,000m drilling program for 50 RC holes designed to identify new mineralisation and provide a greater understanding of the geological controls. RC holes MCRC012 - MCRC016 and MCRC028 were drilled across the north-eastern end of the Main Pit. Holes MCRC017 - MCRC027 were drilled along the western side of both the Main Pit and the West Pit. Results for holes MCRC012 - MCRC020 have been received and have returned high-grade results over broad widths including 69m @ 2.03% CuEq in MCRC012 and 15m @ 2.08% CuEq in MCRC017. The recent drilling has assisted in identifying a second mineralised horizon not previously recognised. The second horizon is present below the current resource wireframes and has been observed in multiple holes. Going forward, QMines will deliver its results as CuEq with base and precious metal assays that make the CuEq. Metal Price Assumptions and Metal Recovery used in the calculations are consistent with the Company's recent resource upgrade delivered to the market in December 2021. The current drilling program at Mt Chalmers is planned to continue throughout Second Quarter and into Q3-2022 for a total program of approximately 30,000 metres (3,177m now completed) with results now being reported on a regular basis. So far in June, the Company has completed approximately 1,015 metres of RC drilling. This is in line with Company's monthly expectations for metres drilled and will continue to provide investors with consistent news flow over the coming months. Tillkännagivande • Jun 07
Qmines Limited Provides Results from the Ongoing Rc Drilling Program At Its Mt Chalmers Project QMines Limited provided the following results from the ongoing RC drilling program at its Mt Chalmers Project, located 17 km north-east of Rockhampton in Queensland . High-grade copper equivalent (CuEq) results have been intersected in the first three RC drill holes reported from the May drilling program including up to 4.7% CuEq in MCRC010 and 4.2% CuEq in MCRC009. Base and precious metal grades from the May drilling program. The Company commenced RC drilling operations at Mt Chalmers in April 2022, completing twelve holes for 2,162 metres drilled. These holes represent the first stage of a planned 10,000 metre RC program. All drillholes were sampled at one metre intervals and samples showing visibly mineralised material were submitted to ALS Laboratories in Brisbane for assay. The drilling programs will consist of infill holes to upgrade the current resource, step-out holes to expand the resource, exploration and infill holes at Wood Shaft (Exploration Target - JORC 2012) and early-stage exploration holes at the Tracker 3 soil anomaly. RC drilling to date has already identified wider mineralisation intercepts than anticipated and provided some evidence of stacked mineralised zones. The current program comprises approximately 50 RC holes and will improve the Company's understanding of the geological controls on mineralisation, whilst aiming to identify additional mineralisation. RC holes MCRC009 to MCRC020 were drilled across the northern and western ends of the Main Pit. Holes MCRC009 - MCRC011 results have been received and have returned high-grade results over broad intersections including 29 metres @ 1.58% CuEq from MCRC009 and 21 metres @ 2.62% CuEq from hole MCRC010. Recent drilling has identified two mineralised horizons with a second, underlying horizon having been identified below the main resource. This lower horizon has been observed in holes MCRC012, 013 and 015 where it has expanded in thickness. Going forward, QMines will continue to deliver assayed results as CuEq with all results forbase and precious metals that make up the CuEq also shown. The CuEq Formula uses the same Metal Price Assumptions and Metallurgical Recovery Grades used in the Company's recent resource upgrade delivered to the market in December 2021¹. This RC drilling program is scheduled to continue throughout Second Quarter and into Third Quarter 2022 for a total planned ~10,000 metres with results to be reported on a regular basis. The Company is expecting to deliver ~2,200 metres of RC drilling per month over the coming months, providing investors with consistent assay results and news flow from the Mt Chalmers project. Tillkännagivande • May 18
Qmines Limited Announces That the Queensland Department of Resources Has Now Granted Epm 27899 At Its Flagship Mt Chalmers Project QMines Limited announced that the Queensland Department of Resources has now granted EPM 27899 at its flagship Mt Chalmers project. Mt Chalmers is located 17km north-east of Rockhampton in Queensland. The tenement covers the large Tracker 1 and Tracker 2 copper and zinc soil anomalies that were identified following the digitisation of an extensive historic soil program¹. The Company will now begin preparations to acquire its planned 1,800 line-kilometre airborne electromagnetic (EM) geophysical survey² at Mt Chalmers, which will aid in the prioritisation of regional drill targets. Mt Chalmers is a VHMS deposit which are known to host multiple deposits within a cluster. The granting of EPM 27899 is a strategic acquisition for the Company as it seeks to discover potential repeats of the Mt Chalmers deposit. The granting of the EPM is of strategic importance to the Company, and now allows for the acquisition of an 1,800 line- kilometre airborne EM survey over Mt Chalmers and the wider tenement package. This survey will provide valuable geological information and will aid in the prioritisation of the many regional drill targets. The survey will also assist in drill targeting for the large Tracker 1, Tracker 2, Tracker 3 and Striker copper and zinc in soil anomalies. These four large soil anomalies present significant upside potential at the Mt Chalmers project. When combined with the Exploration Targets (JORC 2012) at Woods Shaft, Botos and Mt Warminster, they demonstrate that significant exploration potential remains at the project. Tillkännagivande • Mar 31
QMines Limited Announces Excellent Preliminary Metallurgical Results QMines Limited announced excellent preliminary metallurgical testwork results from an initial sighter study completed on its Mt Chalmers copper and gold project, located 17km north-east of Rockhampton, Queensland (Figure 1). This metallurgical testwork program was designed to establish a preliminary flowsheet and assess the ability to recover these metals into separate flotation concentrates. The testwork was undertaken by ALS Metallurgy at their laboratory in Balcatta, Western Australia with Como Engineers engaged to supervise the program. A composite of stringer mineralisation with a head grade of 1.22% Cu, 0.2% Pb, 0.02% Zn and 1.05 g/t Au was subjected to two preliminary open circuit flotation tests. Sequential flotation was successful in producing a copper rougher concentrate. The lead and zinc grade in this composite were low and therefore a copper only circuit flowsheet can be considered for this mineralisation type. Rougher grades of up to 12.3% Cu and 4.6g/t Au were produced with excellent recoveries of 97.1% copper and less than 0.14% lead and zinc. Gold predominantly reported to the copper concentrate, grading as high as 4.6g/t gold. There is an opportunity to further improve recoveries in subsequent testwork programs. These results were particularly encouraging as lithologically, the stringer mineralisation makes up the bulk of the resource. A composite of massive sulphide (copper, lead and zinc exhalite) with a head grade of 1.28% Cu, 1.42% Pb, 3.51% Zn and 4.31 g/t Au was subjected to ten preliminary open circuit flotation tests. Sequential flotation was successful in producing rougher concentrates of copper/lead and zinc. Rougher grades of up to 15.6% Cu, 15.1% Pb and 16.6% Zn were produced with acceptable recoveries of 88.8% copper, 76.6% lead and 83.6% zinc. Gold predominantly reported to the copper/lead concentrate, grading as high as 46.9g/t gold. There is an opportunity to further improve recoveries in subsequent testwork programs. Tillkännagivande • Feb 22
QMines Limited to Drill First of Four Large Soil Anomalies QMines Limited provided the following exploration update relating to results from a six- month data digitisation program of historical soil sampling undertaken by previous explorers. The data was compiled by the Company from historic reports submitted by previous explorers to the Geological Survey Queensland covering regional soil sampling from the Mt Chalmers Project area, located 17km north-east of Rockhampton in Queensland. QMines recently completed the digitisation of a large historical soil dataset covering the Company's Mt Chalmers Project as seen in Figure 2. Since completing these works, the Company has focussed on the Tracker 3 prospect, where EPM 27726 was recently granted by the Queensland Department of Natural Resources. The main anomaly is interpreted to represent the surface expression of buried volcanic-hosted massive sulphide mineralisation draped around a barren core, similar in geometry to the original Mt. Chalmers deposit. Large zinc soil anomalies partly overlap these copper anomalous zones. Seventy-seven surface rock chip samples have been collected by various historic explorers at Tracker 3. Most of these samples were of weathered or gossanous andesitic/tuff breccia with twenty-three samples returning >1,000ppm Cu and six samples returning >1,000ppm Zn with best results being 12,800ppm Cu and 25,000ppm Zn. Little exploration work was undertaken by Geopeko and other explorers over the Tracker 3 prospect. No drilling has been completed over this large soil anomaly since 1969. The anomaly represents a near mine exploration opportunity with deeper RC drilling programs currently being designed to test the large geochemical target at the Tracker 3 prospect. Reported disseminated sulfides, silicification, quartz veining, propylitic alteration and local albitization are all in keeping with possible VHMS mineralisation. The mineralised breccias are likely to have provided favourable paths for metal transport from potentially higher-grade mineralisation at depth. Tillkännagivande • Feb 01
QMines Limited Acquires an RC Drill Rig, Booster and Auxiliary Compressor Truck, Rod Truck and Support Vehicles QMines Limited announced that it has recently acquired an RC drill rig, booster and auxiliary compressor truck, rod truck and support vehicles. These have now arrived at the Company's Mt Chalmers Project, located 17km north-east of Rockhampton in Queensland. Mt Chalmers is a high-grade historic mine operated between 1898-1982 with total production of 1,244,618t @ 2.0% Cu, 3.6 g/t Au and 19 g/t Ag. QMines has recently published its second Resource upgrade at Mt Chalmers with the Resource Estimate now at 5.8 Mt @ 1.7% CuEq for 101,000 tonnes CuEq, with 78% now in the Measured and Indicated categories. RC drilling operations will commence in February 2022, with site works and rig preparation currently being undertaken. The company has scheduled additional diamond drilling at the Mt Chalmers Mine area with the diamond drill rig expected to arrive onsite shortly. Since acquiring the Mt Chalmers mine in December 2020, QMines has delivered: Two Resource upgrades; 38% increase in the maiden Resource; 78% increase in Measured and Indicated categories; Three Exploration Targets at Woods Shaft, Botos and Mt Warminster; and Third resource upgrade expected in H1-2022. Tillkännagivande • Dec 01
Qmines Limited Provides Mt Chalmers Resource Upgrade QMines Limited announce its second Mineral Resource Estimate (MRE) at its Mt Chalmers Project, located 17km north- east of Rockhampton in Queensland. Hyland Geological and Mining Consultants (HGMC) have updated the Mt Chalmers wireframes and bulk density estimates for the Mt Chalmers mineralised zones delivering a new block model and MRE. Importantly, the MRE delivers a maiden Measured and Indicated Resource which now account for 78% of the MRE. The new MRE at Mt Chalmers further strengthens the Company's view that Mt Chalmers has future development potential. QMines second Mineral Resource Estimate is a new independent estimate undertaken on its Mt Chalmers Project. This estimate incorporates base and precious metals contained in the Mt Chalmers deposit including copper, gold, silver, lead and zinc. Tillkännagivande • Nov 24
Qmines Limited Announces Further Broad High-Grade Copper, Gold and Zinc Intersections QMines Limited provided the following results from its current RC and diamond drilling programs at its Mt Chalmers Project, located 17km north-east of Rockhampton in Queensland. Peak grades have been intersected in multiple drill holes from the diamond drilling program, including 11.75g/t Au and 5.3% Cu from MCDD030 and 1.15g/t Au, 243g/t Ag, 3% Cu, 19% Pb and 33% Zn from MCDD020. During October and November 2021, QMines has completed an additional fifteen diamond tails from RC pre-collars drilled with assay results from twelve holes having now been received for a total of 2,182 metres. The drilling program is now focussing on step out and extensional drilling outside the current resource. The current drilling program has completed three further diamond tails with drillholes MCDD034 and MCDD035 now underway and two drill rigs onsite in operation. The RC and diamond drilling programs have been designed to expand the resource model, with several step out holes having now been drilled on the western, southern and eastern sides of the open pits. The drillholes reported here are largely outside the current resource wireframe, with additional pre-collars drilled ready to complete diamond tails. Examples of the recent mineralised intersections can be seen in Sections AA', BB' and CC', with several drillholes, including MCDD20, MCDD30 and MCDD036/PC018, intersecting high-grade mineralisation. The Company is drilling several holes in previously untested areas on the western side of the main pit and behind previously reported drillholes MCDD015 and MCDD014¹. Drill hole MCDD030 intersected high-grade mineralisation at 96.4 metres down hole. MCDD030 intersected 35.3 metres of chalcopyrite stringer mineralisation returning 2.75g/t Au and 1.4% Cu with a high-grade section of 5.5 metres at 9.91g/t Au and 4% Cu from 96.4 meters. MCDD031 has been drilled 50m to the east of MCDD030 and is has been cut for sampling. Executive Departure • Sep 21
MD & Director Daniel Lanskey has left the company On the 14th of September, Daniel Lanskey's tenure as MD & Director ended. Daniel still personally held 5.31m shares (AU$2.0m worth) as of June 2021. This is 4.8% of the company. Daniel is the only executive to leave the company over the last 12 months. Tillkännagivande • Aug 25
Qmines Limited Announces Drilling Intersects New Mineralisation Outside Resource Envelope at MT Chalmers QMines Limited provided the following update relating to its current operations at it's project, Mt Chalmers, which is located 17km North East of Rockhampton in Queensland. Mt Chalmers is a high-grade historic copper and gold mine that operated between 1898-1982. Total production of 1,244,618t @ 2.0% Cu, 3.6 g/t Au and 19 g/t Ag was mined during this period. Mt Chalmers has an Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag. The system contains copper, gold, zinc, lead and silver mineralization and is recognized as one of the grade gold VHMS mineral systems in the world. Tillkännagivande • Jul 15
Qmines Limited Provides Results from the Final Four Unassayed Holes from the Recent Diamond Drilling Program QMines Limited provide the following results from the final four unassayed holes from the recent diamond drilling program at the flagship Mt Chalmers Copper Project, located 17km north-east of Rockhampton in Queensland. The final four diamond holes from Mt Chalmers have delivered numerous high-grade precious and base metal intersections with outstanding polymetallic grades including. 2.2m @ 0.85g/t Au, 41g/t Ag, 0.54% Cu, 8.3% Pb and 16.8% Zn from drillhole MCDD001 drilled during this diamond program. QMines has completed an eleven-hole diamond drilling program for 1,587 metres, which commenced in Q1-2021 at the Mt Chalmers Copper Project. DDH1 Drilling completed the drilling program in six weeks. Company staff completed all core cutting during the last swing on site with all diamond core assays now received from ALS. The diamond drilling program was undertaken to validate historical drilling data compiled and digitised by the Company over the previous six months since acquiring the project. All diamond drill holes have been drilled within the current resource shell envelope with collar locations seen draped over the resource shell wireframe on the plan view. Drill hole MCDDH004 was abandoned before reaching target depth due to the drill string intersecting a void with the rig losing water return. MCDDH004 was re-drilled twenty metres to the south as DDH005 and reached the planned target depth. Drill hole MCDDH009 ended in mineralization at the end of hole (EOH), with the drill hole not reaching target depth due to intersecting a void and losing
water return. Tillkännagivande • May 20
QMines Limited Provides Maiden Diamond Drilling Program from Mt Chalmers Copper Project, Located 17Km North-East of Rockhampton in Queensland QMines Limited provided the following results from the maiden diamond drilling program from its Mt Chalmers Copper Project, located 17km north-east of Rockhampton in Queensland. Mt Chalmers has not been drilled since 1995 and the recent drill program has delivered numerous high-grade intersections with bonanza grades including 0.75m @ 13.4% Cu, 6.11g/t Au and 31g/t Ag from 132.6m downhole from drillhole MCDD007 drilled during this diamond program. QMines has completed an eleven-hole diamond drilling program for 1,587 metres, which commenced in the first quarter of 2021 at the Mt Chalmers Copper Project. DDH1 Drilling completed the drilling program in six weeks with Company staff cutting core from seven of the holes whilst onsite during the program. Mineralised intersections were sent to ALS Laboratories in Brisbane for assaying. The remaining three holes of the eleven-hole program are currently being cut for despatch to the ALS assay lab, with results from these remaining holes to be announced to the market when they become available. The maiden diamond drilling program was designed to validate historical drilling data compiled and digitised by the Company over the previous six months since acquiring the project. All diamond drill holes have been drilled within the current resource shell envelope with collar locations seen draped over the resource shell wireframe on the plan. Long section A-A' displays the Digital Terrain Model (DTM), resource shell wireframe, drill collar locations and significant mineralised intersections assayed by the Company. Drill hole MCDDH004 was abandoned before reaching target depth due to the drill string intersecting a void with the rig losing water return. MCDDH004 was re-drilled twenty metres to the south as DDH005 and reached the planned target depth. Drill hole MCDDH009 ended in mineralisation at the end of hole (EOH) with the drill hole not reaching target depth due to intersecting a void and losing water return. Sections B-B' and C-C' illustrate DDH007 and DDH008 significant intersections from the recent diamond drilling program and relevant historical drill holes in cross sectional view. The geology of the Mt Chalmers area is relatively well-known with the Mt Chalmers mineralisation being identified as a well-preserved, volcanic-hosted massive-sulphide ("VHMS") mineralised system containing copper, gold, zinc, lead and silver. Mineral deposits of this type are deemed syngenetic and formed contemporaneously on, or in close proximity to, the sea floor during the deposition of the host-rock units. The mineralisation is believed to have been deposited from hydrothermal fumaroles, or direct chemical sediments or sub-seafloor massive sulphide replacement zones and layers, together with footwall disseminated and stringer zones within the host volcanic and sedimentary rocks. The mineralisation system at Mt Chalmers displays some similarities to Australian VHMS deposits of Cambro-Ordovician and Silurian age, however closer comparison can be made with the Kuroko-style of VHMS of Tertiary age in Japan (Taube 1990). The Mt Chalmers mineralisation is situated in the early Permian Berserker Beds, which occur in the fault-bounded Berserker Graben, a structure 120km long and up to 15km wide. The graben is juxtaposed along its eastern margin with the Tungamull Fault and in the west with the Parkhurst Fault. The Berserker Beds lithologies consist mainly of acid to intermediate volcanics, tuffaceous sandstone and mudstone (Kirkegaard and Murray 1970). The strata are generally flat lying, but locally folded. Most common lithotypes are rhyolitic and andesitic lavas, ignimbrites or ash flow tuffs with numerous breccia zones. Rocks of the Berserker Beds are weakly metamorphosed and, for the most part, have not been subjected to major tectonic disturbance, except for normal faults and localised high strain zones that are interpreted to have developed during and after basin formation. Recent geological work by the Queensland Department of Natural Resources and Mines places volcanic and sedimentary units of the prospective Chalmers Formation, the host unit to the Mt Chalmers copper-gold mineralisation, at the base of the Berserker Beds. The Ellrott Rhyolite and the Sleipner Member andesite were emplaced synchronously with the deposition of the Chalmers Formation. Late Permian to early Triassic gabbroic and dioritic intrusions occur parallel to the Parkhurst Fault. Smaller dolerite sills and dykes are common throughout the region and in the Berserker Beds. Kuroko style of mineralisation usually occurs as clusters of mineralised zones, which appears to be the case for Mt Chalmers, which may be only one of several deposits. In addition, the interpreted structural dislocation for the mine area may have caused the break-up of larger mineral bodies structurally dispersing lenses within the general Mt Chalmers area such as the Woods Shaft and Botos exploration targets which at this early stage display geochemical and lithological similarities to Mt Chalmers. QMines will expand exploration activity within the tenement package at Mt Chalmers applying systematic exploration methods designed to locate further undiscovered VHMS mineralisation. Exploration drilling at Mt Chalmers has now commenced with a 3,000 metre RC program being undertaken in and around the Mt Chalmers Copper Project. RC drilling will be ongoing for several weeks with all drilling designed to further validate historical drillhole data and as infill drilling to be used to expand and upgrade the current resource. The Company has engaged Planetary Geophysics to manage and deliver an extensive 1,800 line kilometre REP-TEM airborne EM survey over the Mt Chalmers area extending both to the north-west and south-east of the Mt Chalmers mine covering an extensive area of the
Berserker Beds. This survey is scheduled to commence in the third quarter of 2021 and will be used in conjunction with all current data sets to define future potential VHMS drill targets. Soil testing will continue and be expanded over much larger areas with extensive soil grids utilising Niton portable handheld PAS XRF which delivers real time base metal suite analysis. Recent Insider Transactions • May 14
Executive Chairman recently bought AU$50k worth of stock On the 6th of May, Andrew Sparke bought around 185k shares on-market at roughly AU$0.27 per share. This was the largest purchase by an insider in the last 3 months. This was Andrew's only on-market trade for the last 12 months. Tillkännagivande • May 08
QMines Limited Announces Now Well Funded to Undertake A Large Exploration and Drilling Program At Its Flagship Mount Chalmers Project, Located East of Rockhampton in Central Queensland QMines Limited announced is now well funded to undertake a large exploration and drilling program at its flagship Mount Chalmers Project, located east of Rockhampton in Central Queensland. The Project currently has an Inferred Resource (JORC 2012) of 3.9Mt @ 1.15% Cu, 0.81g/t Au and 8.4g/t Ag. Diamond Drilling Program Recently Completed The Company's maiden diamond drilling program was completed at the end of April, with 11 new holes drilled totaling 1,575m. The average depth of the hole was 143m. Assays have now been delivered to ALS laboratories in Brisbane with results expected prior to the end of the June Quarter. Planned RC Drilling Program to Commence in May 2021 QMines has also executed a contract with a local Rockhampton Contractor to undertake an RC Drilling Program scheduled to commence in the next two weeks. Phase 1 of the Program is for approximately 3,000 metres and is designed to test extensions to the known resource below, and adjacent to, the historical open pits. 
