Quick fire – industry news briefs

Updates from Sunshine Metals, QMines, NRW Holdings, Australian Mines and more... Sunshine Metals is set to commence reverse circulation drilling next month at the Coronation copper-gold target within its Ravenswood Consolidated project in North Queensland. Managing director Damien Keys said the company was keen to drill five key anomalies generated from multiple datasets collected over a 50-year period. "Using modern software, we have been able to layer up the mapping, geochemical and geophysical data, to look for coincident anomalism," he said. "The result is a series of compelling drill targets that are of similar size and nature to those that lead to the discovery of the nearby Highway-Reward copper-gold massive sulphide pipes. "Highway-Reward (2.7km south of Coronation) produced 3.9Mt at 5.4 per cent copper and 1.1g/t gold: a deposit style worth pursuing." NRW Holdings goes into 2023-24 with a record order book of $5.9 billion and $2.7 billion in work secured for this financial year. Company EBITDA for the past year was $288.8 million - up 10.2 per cent on the previous financial year. Managing director and chief executive officer Jules Pemberton said the group had contended with very challenging conditions across each of its key markets during the year. "These included significant disruption caused by La Nĩna weather patterns in Queensland, approval-driven factors delaying the award of a number of key projects, significant cost inflation and skilled labour pressures on construction projects, together with continued price competition for new work," he said. Australian Mines chief executive officer Michael Holmes has tendered his resignation from the company, effective October 13. Chair Michael Ramsden acknowledged Mr Holmes' leadership in obtaining the Greenvale mining lease and for moving forward the Sconi project permitting and regulatory activities. "Australian Mines will be seeking a CEO who can lead our collaborative partnership business strategy for our next stage of development as we position the company to be an important future battery minerals supplier of nickel and cobalt, and a critical minerals supplier of scandium as the world transitions to a zero-carbon future," he said. "In the near term, the company will continue to focus on the critical path activities for the Sconi battery minerals project and securing the strategic collaborative partnership." QMines has completed initial geological reconnaissance and mapping at the Tracker 1 anomaly at its Mount Chalmers copper-gold project near Rockhampton. The company said field reconnaissance identified outcropping gossan with visible malachite and azurite copper mineralisation, with the gossan rockchip samples assaying up to 2.67 per cent copper. “We have spent a considerable amount of time digitising historical soil and structural data from previous explorers at the T1 prospect," QMines managing director Andrew Sparke said. "With the new electromagnetic anomalies identified at the T1 prospect, this area has become another exciting target for future drilling. “Access negotiations are under way with the landholders, and, once completed, the company will commence exploration at this target.”

Quick fire – industry news briefs

Industry Queensland

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