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Highlights:
- QML completes acquisition of Mt Mackenzie Project for AUD 2.485 million in cash and shares
- QMines expands resource base with 129,000oz gold and 862,000oz silver under JORC 2012
- QML gains third advanced-stage project near existing Central Queensland operations
QMines Limited (ASX:QML) has announced the completion of its acquisition of the Mt Mackenzie Gold and Silver Project from Resources & Energy Group Ltd ,following the satisfaction of all remaining conditions precedent under the acquisition term sheet. This milestone formalises QMines’ 100% ownership of the advanced-stage asset, as initially disclosed to the market on 19 June 2025.
The Mt Mackenzie Project is located in Central Queensland, in proximity to QMines’ existing Mt Chalmers and Develin Creek projects. The asset includes a JORC 2012-compliant Mineral Resource estimate of 3.4 million tonnes at 1.18 grams per tonne (g/t) gold and 9 g/t silver, representing a total of 129,000 ounces of gold and 862,000 ounces of silver. This addition contributes to QMines' efforts to consolidate mineral assets within logistical reach of each other, forming a hub-and-spoke model for future project development and operational planning.
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