QMines Launches 10,000m Drilling Program at Develin Creek and Mt Chalmers

About Qmines Limited

QMines Limited (ASX: QML), headquartered in Mosman, New South Wales, is an Australian copper and gold exploration and development company focused on advancing high-grade, underexplored assets in Queensland. Founded in 2020, the company owns 100% of the Mt Chalmers (copper-gold) and Develin Creek (copper-zinc) projects, both located near Rockhampton, and is actively expanding its JORC-compliant resource base through targeted drilling campaigns. With a history of high-grade copper production at Mt Chalmers and multiple volcanogenic massive sulphide (VMS) deposits at Develin Creek, QMines is working towards commercialising its assets while positioning itself as a leading emerging copper producer in Australia. Currently, the company’s shares are trading at 5 cents per share.

Advancing Exploration at Develin Creek

The Develin Creek project was historically mined for high-grade volcanogenic massive sulphide (VMS) copper-zinc mineralisation, with recorded grades of up to 10-12% Cu in some zones. Despite its rich history, the region remains largely underexplored, creating a significant opportunity for resource expansion through modern exploration techniques.

This 10,000m drilling campaign is targeting extensions to high-grade deposits, with the goal of expanding the resource base and improving project economics. Drilling at Scorpion and Window will test the continuity of high-grade copper-zinc zones, while additional drilling at Sulphide City aims to increase resource confidence for future mine planning.

The campaign will also include metallurgical drilling, providing crucial data for upcoming mine feasibility studies. Downhole geophysics, including electromagnetics (EM) and magnetics, will be used to identify additional targets for follow-up drilling.

Scaling Up the Mt Chalmers Project

Beyond Develin Creek, QMines is also focused on scaling up its flagship Mt Chalmers copper-gold project. The company’s JORC reserve estimate now stands at 9.6Mt @ 0.65% Cu, 0.48g/t Au, 0.27% Zn, 5.2g/t Ag, and 4.3% S, providing a solid foundation for future mine development.

The success of this drilling campaign is expected to contribute to an updated Pre-Feasibility Study (PFS) in 2H-2025, incorporating expanded resource estimates from Develin Creek into the Mt Chalmers mine plan. If successful, this could significantly increase mine life and production scale, making Mt Chalmers a strategic copper-gold asset in Queensland.

Positioning for Growth in the Copper Market

The copper market remains strong, with increasing demand driven by electrification, renewable energy infrastructure, and electric vehicles (EVs). Copper is a key component in batteries, power grids, and industrial applications, and global supply shortages have elevated long-term copper price forecasts.

QMines is advancing its projects at a critical time, aiming to capitalise on market conditions and secure future offtake agreements. The company’s strategy of integrating multiple copper-zinc deposits into a single development plan provides a unique opportunity to develop a scalable, regionally significant operation.

By combining high-grade resources, modern exploration techniques, and strong financial backing, QMines is positioned to deliver value to shareholders while contributing to Australia’s role as a key copper producer.

Future Outlook and Next Steps

The current drilling campaign is expected to be completed over the coming months, with assay results released progressively. If results confirm resource expansion potential, QMines is likely to accelerate further exploration, targeting additional high-grade VMS mineralisation along the 10km corridor surrounding Develin Creek.

Beyond drilling, the company is also focusing on metallurgical test work, environmental approvals, and infrastructure planning, ensuring that both Mt Chalmers and Develin Creek remain on track for long-term development.

With a fully funded exploration program, a strong resource base, and a clear path to project development, QMines is well-positioned to become a leading emerging copper producer in Queensland. Investors will be closely monitoring resource updates, metallurgical results, and further drilling success, all of which could drive further value in the company’s growing copper portfolio.