Slide 1: Site Visit Technical Presentation
March 2022 Site Visit Technical Presentation Australia’s First Zero Carbon Copper & Gold Developer… ASX:QML www.qmines.com.au
Slide 2: Important Information
Important Information DISCLAIMER This document is confidential and may not be reproduced, redistributed or passed on, directly or indirectly. This document is neither a prospectus nor an offer to subscribe for Shares. QMines Limited ACN 643 212 104 (QMines) and its directors, officers, employees, ad
Slide 3: Executive Summary
Executive Summary Right Deposit Style Strong Growth Profile² • VHMS’s are known to cluster; and • Mineral Resource Estimate (101,000t CuEq); and • High metal value. • Three Exploration Targets (JORC 2012). Right Commodity Mix Exploration Upside • Copper to support the energy transition; and • Four l
Slide 4: Why Queensland?
Why Queensland? Well Endowed District • Mt Chalmers – Kuroko style VMS (277.1 Ma); • Mount Morgan – World class VMS / Intrusion Related Au deposit (390 ± 5 Ma); • Cracow –Low Sulphidation epithermal Au (291 ± 5 Ma); and • Mt Rawdon – Late Triassic intrusion related gold system (233 Ma). Mining Juris
Slide 5: Why VHMS Deposits?
Why VHMS Deposits? They Cluster… Hokuroko District, Yamata Basin, Doyon-Bousquet-LaRonde Mining Camp, Abitibi Combined magnetics and gravity Honshu, Japan. (mostly Middle to Greenstone Belt, Quebec, Canada² showing VHMS and hybrid mineral Late Miocene rift-related Kuroko deposits, Mt Reid Volcanics,
Slide 6: Why VHMS Deposits? The Scale of Mt Chalmers
Why VHMS Deposits? The Scale of Mt Chalmers Mt Chalmers on an International Scale¹ Mt Chalmers on a National Scale² ¹ Koski & Mosier, 2010 ² Large, Herrmann & Corbett, 1987 6
Slide 7: Why VHMS Deposits? High Value
Why VHMS Deposits?¹ High Value “VHMS Deposits are one of the Highest Value Resources per Tonne…” ¹ Murphy, Pratt, Hinman, Donohue, Pirlo & Jones, 2016 77
Slide 8: VHMS Deposits
VHMS Deposits Overview • Deposits recorded throughout earth’s history from Archaean (Australia, Canada) through to current sea floor setting; • Form in multiple settings related to rifting and other extensional events; and • Traditionally divided into three categories – Kuroko (Mt Chalmers), Besshi
Slide 9: Regional Geology
Regional Geology New England Orogen • Eastern part of the Tasman Orogenic Zone. Yarrol Province • Late Devonian to Early Permian forearc basin succession; • Volcaniclastic and siliclastic sediments, limestone, calc-alkaline volcanic rocks; and • Early Permian extensional basins developed at the same
Slide 10: Local Geology
Local Geology • Hosted within the Early Permian (268.2 – 277 Ma) Berserker Group Similar age to Mt Carlton (284.2 Ma); • Mt Chalmers Fm (271.1 - 277 Ma): Siltstone, lithic sandstone, rhyolitic to andesitic volcaniclastic breccia, rhyolitic and dacitic tuff, minor andesitic tuff; • Mine Sequence (top
Slide 11: Mt Chalmers Mineralisation
Mt Chalmers Mineralisation • Typical metal association, alteration and zonation of a Cu – Au type VHMS deposit, comprising an upper massive sulphide zone, in part layered and fragmental, which is underlain by a more extensive silicified alteration cut by stringer sulphide veins; Kuroko-Style VHMS De
Slide 12: Local Geology
Local Geology Siltstone Andesite Silicious Pyroclastic Massive Sulphide Geological Long Section 5010E of the Mt Chalmers Main Lode, (Large & Both, 1980). Stringer Zone Dolomite 12
Slide 13: Exploration Upside Potential
Exploration Upside Potential Mineralisation • The Mineral Resource at Mt Chalmers remains open in all directions; • Down-dip extensions are expected; and • Some gaps in the resource are to be infilled. Exploration Targets • Three Exploration targets defined: • Botos, • Mount Warminster; and • Woods
Slide 14: Metallurgical Test Work
Metallurgical Test Work¹ Preliminary Metallurgical Results • Copper 97.0% • Gold 86.5% • Zinc 77.5% • Silver 70.5% • Lead 85.0% Discussion • Results based on two mineralisation types: Cu-Au stringer mineralisation, and Cu-Pb-Zn exhalite mineralisation; • Expected to be indicative of final recoveries
Slide 15: Exploration Targets
Exploration Targets Botos (1-2.5Mt @ 0.5-0.8g/t Au, 1.1-1.4% Zn, • Planning EM survey and 0.5-0.7% Pb, 0.1-0.2% Cu and 30-50 incorporating new structural model ppm Ag) into targeting; and • 42 holes (Geopeko) for 5,469m; and • New work will assist in determining if Woods Shaft & Botos may be part of
Slide 16: Tracker 3 Anomaly
Tracker 3 Anomaly¹ • Large (750 m by 750 m), coincident Cu and Zn in soil anomaly; • Rock chip samples up to 1.28% Cu and 2.5% Zn; • Historic drilling – Drilled in 1969. Five 75 ft (22.9 m) deep holes; • Bounded by a set of NE trending structures (arc-normal control?) with N-S trending intrusions an
Slide 17: What's Next?
What’s Next? RC Drilling Airborne EM Diamond Drilling Updated Resource • Test extremities of Mt • Scheduled for H1-2022. • Infill and extensional • Expected H1-2022. Chalmers. • Covering the Mt Chalmers drilling at Mt Chalmers. • Convert Woods Shaft to Project. • Further metallurgical Resource. test
Slide 18: Why Invest?
Why Invest? Right Deposit Style Strong Growth Profile² • VHMS’s are known to cluster; and • Mineral Resource Estimate (101,000t CuEq); and • High metal value. • Three Exploration Targets (JORC 2012). Right Commodity Mix Exploration Upside • Copper to support the energy transition; and • Four large s
Slide 19: Appendix: Historic Production, Mineral Resource & Exploration Targets
Appendix: Historic Production, Mineral Resource & Exploration Targets¹ ² ³ Historic Production¹ Project Tonnes (Mt) Grade (% Cu) Grade (g/t Au) Grade (g/t Ag) Mt Chalmers 1.24 2.0 3.6 19 Mineral Resource² Project Category Tonnes (Mt) Cu (%) Au (g/t) Zn (%) Ag (g/t) Pb (%) Cut Off Mt Chalmers Measure
Slide 20: Contact
Contact Peter Caristo Non-Executive Director Mobile: +61 419 916 354 Email: peterc@qmines.com.au Peter Nesveda Investor Relations Mobile: +61 412 357 375 Email: peter@qmines.com.au Australia’s First Zero Carbon Copper & Gold Developer… This announcement has been approved and authorised by the Board