Gold and Copper prospects were examined in detail including geochem and ground geophysics surveys. Dr Gilligan will be working with the extensive exploration portfolio and the systematic drilling of those assets to take QMC from an advanced explorer to producer.
In addition to the core tenements owned by QMC, an indicated partnership with Ivanhoe Mines (NYSE:IVN) to develop assets together was mentioned.
With a range of drilling program due to start, QMC is moving quickly to become a producer.
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About Queensland Mining Corporation
Queensland Mining Corporation Ltd ("QMC") (ASX:QMN) is focused on the exploration and development of its suite of copper and gold projects in the Cloncurry region of northwest Queensland.
QMC is confident that early cash flow can be achieved from its Flamingo Copper Project and the Mount Freda / Gilded Rose Gold Projects. In conjunction with this development, high impact exploration is being undertaken for large IOCG style deposits (e.g. Ernest Henry and Olympic Dam) on the company’s Morris Creek and Jessievale properties.
The Cloncurry south project area includes the White Range Project has provided QMC with a large JORC compliant resource, that will provide the basis for a long life mining operation in the Cloncurry region. This purchase offers synergies with the existing QMC mining lease and exploration portfolio and ensures that the company will achieve its goal of being a major mining entity within the short to medium term.
Queensland Mining Corporation
Inova Resources Limited