QMines adds another piece to the QLD puzzle with optimised Develin Creek feed

• Open pit optimisation study released for Develin Creek deposits in Queensland
• Study shows potential to feed proposed central processing plant
• PFS for the project on track for H2 2026

Special Report: Open pit optimisation of the Scorpion-Window deposit at QMines’ Develin Creek project in Queensland has confirmed the potential to add additional higher-grade feed to the proposed Mount Chalmers centralised processing plant.

Develin Creek is within trucking distance of Mt Chalmers, and the Scorpion and Window deposits are shallow VMS-style deposits with mineralisation extending from near surface to moderate depth – making it well suited to conventional low cost open pit mining.

The optimisation study confirmed a production target of 930,000 tonnes grading 1.21% copper, 0.95% zinc, 0.2g/t gold and 8.1g/t silver with a copper equivalent grade of 1.73%.

Notably, those are higher grades than the resource at Mt Chalmers.

Encouragingly, 98% of the production target comprises indicated resources, with 13.6Mt from the optimised open pits at Mt Chalmers, Mt Mackenzie and Develin Creek representing a 3.2Mt increase in material.

Excellent metallurgical recoveries were also demonstrated, with copper and zinc recoveries above 90% in preliminary testwork.

Importantly, the study also confirmed the deposit as a strategic asset for the company’s plans for a central processing hub.

The Scorpion-Window optimisation will now progress to a mine design for future inclusion in the company’s revised pre-feasibility study (PFS) which is expected in H2-2026.

QMines (ASX:QML) said the study advanced its broader vision to become a low cost, long-life copper and gold producer in central Queensland.

More deposits still to be optimised

Notably, QML said there was still more room for improvement at Mt Chalmers, with several deposits yet to be optimised including Woods Shaft, Botos and Mt Warminster.

“The optimisation of Scorpion-Window is another important step forward for QMines,” executive chairman Andrew Sparke said.

“With higher grade material and 98% of the production target in the indicated category, we are confident the Develin Creek project can deliver high-grade feed into the proposed Mt Chalmers processing hub.

“Importantly, our total optimised open pit material across Mt Chalmers, Develin Creek and Mt Mackenzie has now grown to 13.6Mt, an uplift of 3.2Mt on the initial 10.4Mt from Mt Chalmers.

“With several additional deposits still to be optimised, this reinforces the scale of the regional opportunity we are building.

“With robust metallurgical recoveries already demonstrated, we are confident this project will evolve into a significant, long-life copper and gold operation for Central Queensland.”

Outcomes from Develin Creek and the Mount Mackenzie mine plans (currently underway) are to be incorporated into the financial modelling for the global project and are expected to be inclusions in the updated PFS for the Mount Chalmers project.

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This article was developed in collaboration with QMines, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.