How Will Mount Mackenzie Transform QMines’ Regional Growth Strategy?
QMines Limited reports promising open pit optimisation results for its newly acquired Mount Mackenzie gold-silver project, reinforcing its strategy to develop a regional processing hub in Queensland.
- Mount Mackenzie acquisition adds 3.3Mt resource with 151,000oz gold and 900,000oz silver
- Open pit production target of 2.3Mt with favourable 4.2 – 1 strip ratio
- Ore to be hauled to planned Mt Chalmers 2.0Mtpa processing plant
- Metallurgical testwork shows high recoveries for oxide, moderate for sulphide material
- Updated Pre-Feasibility Study integrating three projects due H1 2026
Mount Mackenzie Acquisition Strengthens QMines Portfolio
QMines Limited has unveiled positive open pit optimisation results for its 100% owned Mount Mackenzie gold-silver project in Queensland, acquired from Resource and Energy Group in July 2025. The project boasts a Mineral Resource Estimate (MRE) of 3.3 million tonnes grading 1.40 grams per tonne gold and 8.4 grams per tonne silver, equating to approximately 151,000 ounces of gold and 900,000 ounces of silver. This addition marks a significant expansion of QMines’ regional footprint, complementing its existing Mt Chalmers and Develin Creek projects.
Optimisation Supports Economic Open Pit Mining
The open pit optimisation study, conducted by Minecomp Pty Ltd, identified a production target of around 2.3 million tonnes, divided into 800,000 tonnes of oxide material and 1.5 million tonnes of sulphide material. The weighted average grades remain consistent with the resource, at approximately 1.35 g/t gold and 8.9 g/t silver. Notably, the project benefits from a favourable strip ratio of 4.2, 1, indicating efficient waste-to-ore removal and supporting the economic viability of the open pit mining method proposed.
Integration into Regional Processing Strategy
QMines plans to haul ore from Mount Mackenzie to its centrally located Mt Chalmers processing plant, which is undergoing an upgrade to handle up to 2.0 million tonnes per annum. This hub-and-spoke approach aims to blend material from Mount Mackenzie, Mt Chalmers, and Develin Creek, enhancing throughput and project economics. The updated Pre-Feasibility Study (PFS), expected in the first half of 2026, will incorporate these three deposits, reflecting an expanded mine plan and revised processing flowsheet designed by COMO Engineers.
Metallurgical Testwork Validates Processing Routes
Metallurgical testwork by ALS Metallurgy confirms high gold recoveries of 91-96% for oxide material using conventional carbon-in-leach (CIL) processing, while sulphide material shows moderate recoveries of 52-64% via flotation methods. Further testwork is underway to improve sulphide recoveries. These results underpin the planned processing strategy and support the economic assumptions used in the optimisation.
Looking Ahead, Drilling, Optimisation, and Studies
QMines is advancing several workstreams to refine project parameters, including ongoing drilling at Develin Creek, pit optimisation studies, and underground mining assessments targeting higher-grade zones. These efforts will feed into the comprehensive PFS update, which aims to solidify the economic case for a long-life, multi-asset copper and gold operation in Central Queensland.
Bottom Line?
Mount Mackenzie’s promising optimisation results set the stage for QMines’ next growth phase, with the upcoming PFS update poised to define its regional mining future.
Questions in the middle?
- How will the integration of Mount Mackenzie impact the overall capital expenditure for the expanded processing plant?
- What are the timelines and expected outcomes for the ongoing metallurgical testwork on sulphide material?
- To what extent can further drilling expand the resource base and convert Inferred resources to Indicated or Measured categories?
