DEVELIN CREEK PROJECT
Several high-grade Volcanic Hosted Massive Sulphide (VHMS) copper-zinc deposits including Sulphide City, Scorpion and Window deposits. Close proximity to QMines Mt Chalmers Project bodes well for the potential future development of the combined resources.
The Develin Creek Project is located approximately 90km west of Rockhampton in Queensland, Australia.
The Project consists of two tenements, EPM 17604 and EPM 16749 for a total area of 272km². On 28th August 2023, QMines acquired an initial interest of 51% of Develin Creek from Zenith Minerals Limited (ASX:ZNC) and retains the right to acquire the remaining 49% interest within 12 months.
The Develin Creek Resource stands at:
3.2Mt @ 1.61% CuEq for 51,360t CuEq.
Importantly, 47% of this Resource sits in the Indicated JORC category.
The project hosts known base metals mineralisation of Copper, Zinc, Gold & Silver.
Exploration drilling has been undertaken by three parties:
Initial discovery and drill out to 50m centres by Queensland Mining Corporation (QMC) using percussion and diamond drilling between 1992 to 1993.
Follow-up and extensional drilling by Fitzroy Resources (FR) using RC and diamond drilling in 2011.
Verification drilling by Zenith Minerals using RC and diamond drilling in 2014, 2021 and 2022.
QMines plans to complete infill drilling to improve resource confidence, step out drilling to assess the potential for a larger resource and development drilling comprising metallurgy and geotechnical drilling to determine the deposits suitability for potential future mining.
The Develin Creek project consists of several Volcanic Hosted Massive Sulphide (VHMS) copper-zinc deposits.
The project covers part of the Rookwood Volcanics which form a narrow, discontinuous north-south orientated belt that extends the length of the project and hosts the known base metals mineralisation. The Rookwood Volcanics are variably exposed and concealed by lateritised tertiary sediments, and younger quaternary deposits.
Develin Creek offers both open pit and underground opportunities, allowing for a diversified approach to success.
The high-grade copper and zinc reserves provide a substantial boost to QMines combined projects resource base.
MOVING TOWARDS DEVELOPMENT
QMines growth strategy involves rapidly transitioning towards development.
Develin Creek aligns perfectly alongside our Mt Chalmers project and with the advantage of strong local infrastructure, we are positioned well for accelerated development.