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Mt Chalmers Project

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Summary

Mine TypeOpen Pit
Study CompletedPrefeasibility
Study in ProgressPrefeasibility Update
Commodities
  • Copper
  • Gold
  • Zinc
  • Silver
  • Pyrite
  • Sulphur
Mining Method
  • Truck & Shovel / Loader
Mine Life... Lock
SnapshotThe Mount Chalmers project includes the high-grade historic Mt Chalmers copper and gold mine. Mt Chalmers operated as an open-pit and underground operation between 1898-1982.

Pre-Feasibility Study assesses mining from a three-stage open-pit operation and processing material onsite at Mt Chalmers. The process plant will produce three concentrate types: copper/gold, zinc/silver, and pyrite/gold.

The parameters for the process plant design are based on the two types of material: Volcanic Hosted Massive Sulphide (VHMS) exhalate mineralisation, and Stringer mineralisation.

COMO Engineers advanced the Mt Chalmers PFS during the Q1 FY2026. The revised flowsheet for the Mt Chalmers Processing Hub advances a regional strategy focused on treating a blended ore feed from Mt Chalmers, Develin Creek, and Mount Mackenzie. The process targets an expanded 2.0Mtpa throughput, significantly upscaling the initial PFS plan. The updated PFS remains on schedule.

Owners

SourceSource
CompanyInterestOwnership
QMines Ltd. 100 % Indirect
QMines Limited is a Queensland-focused copper and gold development Company. The Company owns 100% of the Mt Chalmers (coppergold) and Develin Creek (copper-zinc) deposits, located within 90km of Rockhampton in Queensland.

Contractors

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Deposit type

  • VMS

Summary:

Local Geology
The informal stratigraphic subdivisions in the mine area are after Large and Both (1980) and were adopted by Taube (1990). The oldest rocks in the area, the 'footwall sequence' of pyritic tuffs, are seen only in the Mt Chalmers open pit and in drill holes away from the mine. The rock is usually a light coloured eutaxitic tuff with coarse fragments, mainly of chert, porphyritic volcanics, and chloritic volcaniclastics. The associated alteration comprising silicification, sericitisation, and pyritisation of this basal unit becomes more intense close to mineralization.

The 'mineralised sequence' overlying the 'footwall sequence' predominantly comprises tuffs, siltstones, and shales and contains stratabound massive sulphide mineralisation and associated exhalites: thin barite beds, chert and occasionally jasper, hematitic shale, and thin layers of bedded disseminated sulphides. Dolomite has been recorded in the mineralised sequence close to massive sulphides. This sequence represents a hiatus in volcanic activity and a period of water-lain sediment and chemical deposition.

Low-grade mineralisation extends several hundred metres beyond the pit in places (Taube 1990).

The rocks in the mine area are gently dipping, about 20° to the north-northeast, in the Main Lode mine area and similarly dipping south for the West Lode. Note that the predominant structure is a broad anticline trending north-north-west. Slaty cleavage is strongly developed in some of the rocks, notably in sediments and along fold axes. Such cleavage is prominent in areas close to the faults but is weak elsewhere.

Detailed work in the open pit has interpreted the doming of the rocks to be close to the mineralisation has seen to be largely due to localised horst block faulting (Taube 1990), but the doming might also be a primary feature in part. Steep dips are localised and usually the result of block faulting. Where the Main and West Lode crop out, they are defined as variably silicified rocks which, by one interpretation, may have been pushed up through overlying rocks in the manner of a Mont Pelée spine (Taube 1990), but in any case, form a dome of rhyolite / high-level intrusions of the Ellrott Rhyolite. The surrounding mineralised horizon is draped upon the flanks of domal structures.

Deposit Type
The Mt Chalmers project is identified as a Volcanic Hosted Massive Sulphide (VHMS) deposit. Mt Chalmers is considered to be a close analogue to the Kuroko VHMS deposits in Japan.

A Kuroko deposit is generally defined as a stratabound polymetallic sulphide-sulphate deposit containing economic to sub-economic Cu-Pb-Zn-AgAu and an abundance of Ba and Ca sulphates. In the Kuroko district, the deposits occur in Miocene rocks and are typically zoned from laminated black Zn-PbAg-Au ores to layered Cu-rich ore to a siliceous stockwork zone at the base. The "classic" Kuroko orebody has six mineralogical zones that are common between deposits (Shimazaki, 1974) and are described below in ascending stratigraphic order:
• Siliceous ore (keiko) - stockwork mineralisation characterised by disseminated and veined pyrite and chalcopyrite distributed within an irregular funnel shape in felsic lavas and pyroclastics;
• Gypsum and/or anhydrite (sekkoko) occur as lenticular or irregular mass between the stockwork and stratiform ore bodies or adjacent to the stratiform ore body;
• In the stratiform ore body, the top half is rich in sphalerite, galena, and barite - black ore (kuroko), while in the lower half is chalcopyrite and pyrite dominate - yellow ore (oko);
• Stratified barite mineralisation overlies the Kuroko zone;
• Small lenses or thin beds of ferruginous chert often occur directly overlying the stratiform ore lens (tetsusekiei bed).

Mt Chalmers and the Japanese Kuroko deposits have many similarities, including alteration mineralogy, with one significant difference being the absence of gypsum beds and the presence of dolomite at Mt Chalmers, and the Kuroko deposits tend to have zoned pipe-like alteration halos (Hunns, 2001).

Reserves

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Mining Methods

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Required Heavy Mobile Equipment

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Comminution

Crushers and Mills

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Processing

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Commodity Production

CommodityUnitsLOM
Copper kt 65 *
Gold koz 160 *
Zinc kt 31 *
Silver koz 1,821 *
Pyrite kt 583 *
All production numbers are expressed as metal in concentrate. * According to 2024 study.

Operational metrics

Metrics
Annual processing capacity  ....  Subscribe
Ore tonnes mined, LOM  ....  Subscribe
Tonnes processed, LOM  ....  Subscribe
* According to 2024 study.

Production Costs

CommodityUnitsAverage
Total cash costs Copper Equivalent USD  ....  Subscribe
Assumed price Pyrite USD  ....  Subscribe
Assumed price Zinc USD  ....  Subscribe
Assumed price Copper USD  ....  Subscribe
Assumed price Silver USD  ....  Subscribe
Assumed price Gold USD  ....  Subscribe
* According to 2024 study / presentation.

Project Costs

MetricsUnitsLOM Total
Initial CapEx $M AUD  ......  Subscribe
Refining and treatment costs $M AUD  ......  Subscribe
Royalty payments $M AUD  ......  Subscribe
Gross revenue (LOM) $M AUD  ......  Subscribe
Pre-tax Cash Flow (LOM) $M AUD  ......  Subscribe
Pre-tax NPV @ 8% $M AUD  ......  Subscribe
Pre-tax IRR, %  ......  Subscribe

Personnel

Mine Management

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jan 25, 2026
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Workforce

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