On the back of its recent acquisition of Develin Creek, 90 kilometres northwest of Rockhampton in Queensland, QMines Ltd (ASX:QML) has delivered a fifth mineral resource estimate (MRE) since listing in May 2021.
This follows a review of work undertaken by Zenith Minerals and previous exploration companies at the project in 2014, 2021 and 2022.
Latest MRE based on historical results
The Develin Creek resource now stands at 3.2 million tonnes at 1.61% copper equivalent for 51,360 tonnes with 47% of the resource in the indicated category.
This means the company’s combined Mt Chalmers and Develin Creek resources stand at 15.1 million tonnes at 1.3% for 195,800 tonnes of copper equivalent.
QMines has reviewed all historical drilling results delivered by Zenith for the Develin Creek project and provides this updated MRE reported at a 0.5% copper equivalent cut-off, suitable for open pit optimisation.
The mineral resource updated for Develin Creek includes the Sulphide City, Scorpion and Window deposits.
About Develin Creek
Access to Develin Creek is via an unsealed road through the town of Marlborough from the north or Glenroy from the south.
The deposits are within EPM 17604, was formerly held by Mackerel Metals a subsidiary of Zenith, and which were granted in 2008 and expire in 2025.
Develin Creek Project was acquired by QMines on August 28, 2023, and this latest resource update was prepared by the company’s independent resource geologist, Steve Hyland of Hyland Geological Mining Consultants (HGMC).
The company is now preparing resource, metallurgy and geotech drilling at Develin Creek ahead of a pre-feasibility study.