QMINES completes acquisition of Develin Creek copper project

QMINES Limited (ASX:QML) has successfully completed the 100% acquisition of the high-grade Develin Creek copper-zinc project, located approximately 90km northwest of Rockhampton in Queensland. The company aims to convert two of five additional deposits into the Mt Chalmers mine plan through a large drilling program, with outstanding initial drilling results already achieved.

Executive Commentary on Develin Creek acquisition

We are very pleased to have completed the acquisition of the strategically important and high-grade Develin Creek copper project. We wish to thank Zenith Minerals for their support for the transaction and welcome them as a large shareholder in our Company. - Andrew Sparke, Executive Chairman

Summary of QMINES Develin Creek acquisition

QMINES (ASX:QML) has finalized the acquisition of the high-grade Develin Creek copper-zinc project, marking a significant strategic move for the company. The completion of the acquisition allows QMINES to proceed with a large drilling program aimed at converting additional deposits into the Mt Chalmers mine plan. The company's objective is to make new discoveries, commercialize existing deposits, and transition towards sustainable copper production. With outstanding initial drilling results already achieved, QMINES is well-positioned to capitalize on the potential of the Develin Creek project. The company expresses gratitude to Zenith Minerals for their support and looks forward to their continued collaboration as a large shareholder. The successful acquisition and ongoing drilling program reflect QMINES' commitment to advancing its corporate strategy and strengthening its position in the Australian copper industry.