QMines Boosts Develin Creek Resource to Underpin Phase 2 Expansion

QMines Ltd. ( (AU:QML) ) just unveiled an update.

QMines has reported a substantial upgrade to the Mineral Resource Estimate at its Develin Creek Copper–Zinc–Gold–Silver Project in Queensland. The resource now totals 4.70 million tonnes, with 90% classified as Indicated, reflecting improved geological understanding and results from recent infill and extension drilling programs.

Indicated Mineral Resources at Develin Creek have increased 46% to 4.22 million tonnes at 0.98% copper and 1.08% zinc, materially de‑risking the project and supporting Phase 2 mine planning. The mineralisation remains open along strike and at depth, and optimisation studies have commenced to move Develin Creek toward development readiness and integration into QMines’ broader Mt Chalmers hub strategy.

This is QMines’ eighth resource upgrade since listing and underscores a consistent track record of resource growth across its portfolio. Management views Develin Creek as a key future production source, with further upside potential expected from ongoing exploration and a separate resource upgrade underway at the Mt Mackenzie project.

The most recent analyst rating on (AU:QML) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on QMines Ltd. stock, see the AU:QML Stock Forecast page.

More about QMines Ltd.

QMines Ltd. is an Australian mineral exploration and development company focused on copper, zinc, gold and silver projects in Queensland. Its portfolio includes the Mt Chalmers hub and nearby assets such as Develin Creek and Mt Mackenzie, where it is progressively upgrading resources to support a future production and expansion strategy.

YTD Price Performance: 6.25%

Average Trading Volume: 2,572,540

Technical Sentiment Signal: Sell

Current Market Cap: A$32.38M

Learn more about QML stock on TipRanks’ Stock Analysis page.