Queensland Mining Corporation Limited Updates On Seasonal Weather Conditions In Cloncurry District
18.01.2011 | ABN Newswire
09:31 AEST Jan 18, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Queensland Mining Corporation Limited (ASX: QMN) is pleased to update on the impact of seasonal weather conditions in Cloncurry District, North-West QLD and related corporate matters.
Weather Conditions
QMC would like to update the ASX with information relating to the recent, widely reported, heavy rain events in parts of eastern Australia. December to the end of March/April is the normal wet season with monsoonal influences along with low pressure troughs during this period that can be severe.
QMC wishes to reassure its shareholders that the Company has resident managers and personnel in Cloncurry that monitor our tenements and mining sites, especially Mt Norma copper mine and processing plant and to a lesser extent the Gilded Rose and Mt Freda gold mines, and other mines and accesses in the Duck Creek/Maldon area.
Management has been living for periods of time at the Mt Norma Camp site, monitoring the copper processing vats and plant. Nothing abnormal has been reported and we expect the various water storage capacities not to encounter any environmental problems.
The current drilling program was successfully completed in November prior to the onset of the heavier, expected, seasonal rainfall which was recorded from mid-December to mid-January.
Resource Reporting, Drilling and Related Corporate Matters
Drilling is being planned for the south of Cloncurry expected to commence March-April 2011, however, the start will depend on rainfall and ground conditions at the time.
Access to all our mine sites is always variable, depending on the weather conditions in the local area. Corporate and new season activities will be covered in the Quarterly report, which is due for release at the end of January.
In previous ASX releases the Company indicated that it expected to report resources estimates for the Young Australian and the Mt Freda mines in the first half of January 2011. However, delays have occurred due to the seasonal leave commitments of our resource engineers and geologists, as well as some delays caused by the sourcing of information that is required by these consultants before they are able to finalise their respective reports. QMC now expects to be able to release these resources estimates during the March quarter 2011.
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.
Contact:
David Sasson
Tel: +61-411-468-966
(Northfield Communications - FIRSt)
http://www.qmcl.com.au