Key points
- Qmines acquired two properties for $2.388M to improve land access over Botos deposit
- Botos deposit has an Exploration Target of 1.5-2.5Mt at 0.5-0.8g/t Au
- Historical drilling includes 33m at 0.80g/t Au and 27m at 0.83g/t Au
- A 9-hole, 1,500m drilling program is underway to test Botos
- The acquisitions support Qmines' strategy to assess Botos as a potential feed source for Mt Chalmers
Full summary
QMines Limited (ASX:QML) has acquired two freehold properties over and adjacent to the Botos deposit at Mt Chalmers in Central Queensland for $2.388 million, improving land access over the deposit. The acquisitions are part of QMines' strategy to consolidate the Mt Chalmers district and advance nearby satellite deposits. The Botos deposit has an Exploration Target of 1.5 to 2.5 million tonnes at 0.5 to 0.8 grams per tonne gold, 1.1 to 1.4% zinc, 0.1 to 0.2% copper, and 30 to 50 grams per tonne silver. Historical drilling includes 33 metres at 0.80 grams per tonne gold, 0.16% copper, 1.82% zinc, 0.93% lead, and 47 grams per tonne silver from 75 metres. A nine-hole, 1,500-metre drilling program is underway to test Botos and assess its potential as an additional feed source for the planned Mt Chalmers processing hub.