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NQ Minerals secures high grade underground base metals resources at its Hellyer mine

NQ is already in production from tailings and has been consistently increasing output

NQ Minerals PLC -

NQ Minerals PLC (NEX:NQMI) (OTCQB: NQMLF) has signed a deal with Bass Metals Ltd (ASX:BSM) to secure 100% of all the mining and exploration rights at the main 1,695 hectare Hellyer mining lease.

Bass will surrender its long standing Sublease Agreement over Hellyer's underground base metals rights. NQ has also acquired 100% rights to the 46 square kilometre Mt Block permit, which surrounds the Hellyer Mining Lease.

"This acquisition is truly transformational for NQ,” said David Lenigas, chairman of NQ Minerals.  

“This long-awaited deal provides real potential to radically change the long-term plans for Hellyer and the perception of NQ in the market. There is real potential to re-open the underground mining operations, adding much higher-grade ore feed to the plant over the coming years. Some of the drill intercepts near the Hellyer orebody are regarded as 'bonanza' grades anywhere in the world and NQ is planning to commence drilling a number of the high priority targets as soon as possible.”

NQ recommenced operations at Hellyer a year ago with a major mine tailings retreatment operation slated to last for over 10 years. These operations are now running profitably.

 

Quick facts: NQ Minerals PLC

Price: 5 GBX

NEX:NQMI
Market: NEX
Market Cap: -
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NQ Minerals' David Lenigas updates as it looks to nearly double mining...

NQ Minerals PLC's (NEX:NQMI)(OTCQB:NQMLF) David Lenigas speaks to Proactive London's Andrew Scott after announcing they're to contract a second, high capacity mining dredge to boost its mining operations at the Hellyer project in Tasmania. The second dredge has a capacity to move 100 tonnes...

on 12/10/2019

2 min read