QMines Limited has agreed to acquire two strategic freehold properties covering a combined 25.52 hectares over and adjacent to the Botos deposit at its flagship Mt Chalmers project in Central Queensland for a total cash consideration of $2.388 million.

The acquisitions remove the primary land access constraint that has restricted the prospect, unlocking the core of the Botos deposit for systematic modern drilling and providing a pathway to assess the deposit as an additional feed source for the planned Mt Chalmers processing hub. The Botos deposit lies approximately 700 metres northeast of Mt Chalmers within the Permian Berserker Beds and occupies the same stratigraphic position as the main deposit.

The land purchases comprise 10.00 hectares at 87 Bells Road for $1.138 million and 15.52 hectares at 91 Bells Road for $1.250 million. Contractual access to 87 Bells Road applies immediately from execution, allowing QMines to progress exploration activities ahead of formal settlement, which is scheduled for 30 October 2026.

The acquisitions form part of QMines' broader strategy of consolidating land surrounding the Mt Chalmers Project and evaluating satellite deposits as potential feed sources. A nine-hole, 1,500-metre drilling programme is currently underway to test and validate historical mineralisation and establish a modern geological dataset. The Botos deposit currently hosts an Exploration Target of 1.5 to 2.5 million tonnes grading 0.5 to 0.8 g/t gold, 0.1 to 0.2% copper and 1.1 to 1.4% zinc at a 0.5 g/t gold cut-off.

“These acquisitions are another important piece of the Mt Chalmers puzzle. They unlock the core of Botos deposit for systematic modern drilling.” — Andrew Sparke, Executive Chairman

The land transactions and ongoing drilling run alongside the company's broader development pipeline. QMines is concurrently advancing a Definitive Feasibility Study at Mt Chalmers supported by a $15 million strategic investment from the Queensland Government through the QIC Critical Minerals Fund. 

District-wide exploration also sees ongoing activity across Central Queensland, providing a broader operational backdrop as QMines advances its satellite targets toward resource definition.

Read the full announcement: Strategic Land Acquisitions Unlock Botos Deposit