QMines (ASX:QML) is ‘rapidly’ progressing its Definitive Feasibility Study (DFS) workstreams at the Mt Chalmers Copper and Gold Project, located 17km northeast of Rockhampton in Queensland.
Current workstreams include environmental approvals, mining studies, geotechnical works, metallurgical test work, process engineering, and stakeholder engagement.
The company has engaged Onterris (NYSE:ONT) to lead environmental approvals and permitting activities. To date, it has installed four groundwater monitoring bores. Onterris was previously known as Epic Environmental.
Environmental baseline studies are currently underway across groundwater, surface water, and flora and fauna, with seasonal ecological field surveys and environmental monitoring programs progressing.
QMines has also engaged Australian Mine Design & Development (AMDAD) to complete mining planning and optimisation studies, as well as PSM Mining to undertake geotechnical and hydrogeological studies. PSM has completed six geotechnical drill holes so far.
GR Engineering Services (ASX:GNG) will undertake process plant-related activities and infrastructure studies, while Mineralis will provide metallurgical and concentrate quality studies.
Further, QMines has engaged AMC Consultants to deliver an updated resource estimate for the Mt Chalmers Project and CQG Consulting to undertake community and stakeholder engagement.
The drilling dataset for Mt Chalmers is currently being finalised to support updated resource modelling and future development studies at the project.
The geological and structural model for Mt Chalmers is now complete, along with initial metallurgical and mineralogical programs. This includes quantitative mineragraphy and flotation recovery modelling.
QMines expects the DFS to be completed by the end of 2026, with the integrated DFS, front-end engineering design, and project execution schedules progressing in line with the target.
The company is fully funded through completion of the DFS following a funding package from the Queensland Investment Corporation (QIC).
QMines obtained a $15 million investment from the QIC Critical Minerals and Battery Technology Fund (QCMBTF) in April to support development activities at Mt Chalmers, as reported by Mining.com.au.
The company entered into binding agreements with QCMBTF trustee QBF No.1 for $5 million in cash, in consideration of the issuance of 95.6 million shares to QCMBTF at $0.052 each, and $10 million in cash in consideration of granting a 2% net smelter return royalty.
QMines is focused on becoming Australia’s next copper and gold producer, with a portfolio of assets in Queensland.
Write to Maddison Elliott at Mining.com.au
Images: QMines
