QMines Ltd. (AU:QML) has released an update.
QMines Ltd reports a robust Pre-Feasibility Study for its flagship Mt Chalmers project, indicating a maiden Ore Reserve of 9.5Mt, a 10.4-year mine life, and a high Net Present Value of $373m. The company has also identified new electromagnetic anomalies at Artillery Road and acknowledges significant development potential beyond the current mine plan, including a large drilling program at Develin Creek. Additionally, a mining license application for Mt Chalmers has been lodged, with the license number ML100403 now assigned to the project.
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