Mt Chalmers
Copper-Gold
Project
High-grade historic copper-gold mine transitioning to development
High-grade historic copper-gold mine transitioning to development
QMines’ (ASX:QML) flagship project, Mt Chalmers, is located 17km North East of Rockhampton. The Company owns 100% of the project which includes the high-grade historic Mt Chalmers copper and gold mine.
The project is currently advancing through a Definitive Feasibility Study (DFS), following QIC’s $15 million investment in April 2026, which has fully funded the project through DFS delivery. This positions Mt Chalmers to transition from feasibility into development with a de-risked capital pathway.
Mt Chalmers operated as an open pit and underground operation between 1898-1982. The project comprises 316km² of tenure that includes a number of known VHMS deposits not currently in Resource
demonstrating significant growth potential.
Developing a Multi-Project Copper & Gold Production Hub in Central Queensland, Australia.
Mt Chalmers is QMines' flagship development project, a high-grade copper-gold deposit 17km from Rockhampton with a completed Pre-Feasibility Study, five resource upgrades in under three years, and a current JORC resource of 11.86Mt at 1.22% copper equivalent. The project's shallow open-pit geometry, proximity to established infrastructure, and 316km² of tenure underpin QMines' strategy of transitioning Mt Chalmers toward production. With 84% of resources in the Measured and Indicated JORC categories, Mt Chalmers represents the company's most advanced asset and its primary value-creation pathway.
Mt Chalmers is located 17km north-east of Rockhampton in Queensland, Australia. QMines holds 316km² of tenure at the project.
Mt Chalmers is a copper and gold project. The Pre-Feasibility Study defined a contained metal inventory of 65,000 tonnes of copper, 160,000 ounces of gold, 30,600 tonnes of zinc, 1.8 million ounces of silver, and 583,000 tonnes of pyrite.
The Mt Chalmers Measured, Indicated and Inferred Resource stands at 11.86Mt at 1.22% contained copper equivalent. 84% of these Resources fall in the Measured and Indicated JORC categories, reflecting five resource upgrades completed in under three years.
The Pre-Feasibility Study returned a post-tax NPV at an 8% discount rate of $100 million, based on a 1Mtpa processing plant. The study also established a maiden Ore Reserve estimate (Proved and Probable categories).
Mt Chalmers is in the development phase. QMines' strategy involves transitioning the project toward production, leveraging its shallow high-grade open-pit geometry, coastal proximity, and existing infrastructure access.
QMines Limited (ASX:QML) holds 100% of the Mt Chalmers project.