QMines Unit Acquires Two Freehold Properties Over Queensland Deposit for AU$2.4 Million

MT Newswires Live

Sep 18

QMines (ASX:QML) said its unit RLG Holdings has agreed to acquire two freehold properties over and adjacent to the Botos deposit at Mt Chalmers in Central Queensland for AU$2.4 million, according to a Friday Australian bourse filing.

The company said the acquisitions effectively unlock the core Botos deposit for systematic modern drilling and provide a pathway to assess Botos as an additional feed source for the planned Mt Chalmers processing hub.

A nine-hole, 1,500-meter drilling program is currently underway, representing the first systematic modern test of Botos and targeting confirmation of grade, geometry and continuity, QMines added.

The company's shares rose 2% in recent Friday trade.

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