QMines Ltd (ASX:QML) has formulated an exploration and growth strategy for the Mt Chalmers and Develin Creek projects in central Queensland following a recent pre-feasibility study (PFS).
Read: QMines releases robust Mt Chalmers PFS; outlines high-margin, low-cost, long life mine
The PFS focused on the Mt Chalmer’s open pit mine but the company controls several more deposits which have not yet been incorporated into the mine plan and study.
QML will undertake resource infill and extension drilling, particularly at the Scorpian and Sulphide City deposits, to better incorporate them into operations at Mt Chalmers, while also pursuing several greenfield prospects, including the recently discovered Artillery Road prospect.
Increasing scale of mining operation
"Now that the Mt Chalmers pre-feasibility study has been delivered, the company will focus on upgrading and extending additional resources at the Develin Creek and Mt Chalmers projects,” QMines executive chair Andrew Sparke said.
“The program is designed to increase the scale of a potential mining operation and to make new discoveries.”
The company says the Develin Creek and Woods Shaft deposits require further drilling, optimisation and modelling to be brought into the mine plan and ore reserve statement.
Once further drilling is complete, QML intends to upgrade a sizeable portion of the inferred material in its resource estimates to the indicated JORC category – the company says these deposits represent an opportunity to increase the scale and projected mine life of a potential mining operation at Mt Chalmers.
QMines expects to begin drilling at the Scorpion and Sulphide City deposits in the coming weeks with the planned drilling program now finalised.
Deposits at Mt Chalmers and Develin Creek that are yet to be incorporated into the mine plan.
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