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NQ Minerals PLC (NQMI)

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Monday 25 November, 2019

NQ Minerals PLC

Record Lead and Zinc Concentrate Production

RNS Number : 4480U
NQ Minerals PLC
25 November 2019
 

For immediate release 

 

25 November 2019

 

NQ Minerals Plc

(the "Company" or "NQ")

 

Record Lead and Zinc Concentrate Production Continues at NQ's Hellyer Mine

 

London listed NQ Minerals Plc (NEX: NQMI) (OTCQB: NQMLF), the base and precious metals producer from the Hellyer Gold Mine ("Hellyer") in Tasmania, Australia, is pleased to announce that month to date production to close of play on Saturday 23 November 2019 continues to outperform expectations.

 

David Lenigas, Chairman of NQ Minerals, commented:

 

"NQ is currently presenting at this year's Mines and Money conference in London today at 12.40pm, and it was considered prudent to announce to the market that the Company's Hellyer mining and processing operations in Tasmania have continued to improve considerably since the last update to the market a few weeks ago. Recoveries of Hellyer's two key outputs of Lead and Zinc concentrates continue to steadily improve and it is pleasing to see the plant operating at record concentrate production levels month to date. The Company still sees room for significant improvements through 2020 as the project expands further."

 

 

Hellyer Operations - Performance for the period 1-23 November 2019

 

Mined tonnes:

55,422 tonnes

 

 

Processed tonnes:

55,419 tonnes

·    Lead grade %

2.90%

·    Zinc Grade %

2.02%

·    Gold Grade

2.29 grams/tonne

·    Silver Grade

88 grams/tonne

 

 

Lead Concentrates Produced

2,006 tonnes

·    Lead Recovery %

46.2%

·    Lead %

37.0%

·    Gold (Grams per tonne)

4.6 g/t

·    Silver (Grams per tonne)

781 g/t

 

 

Zinc Concentrates Produced

1,103 tonnes

·    Zinc Recovery %

42.8%

·    Zinc Grade %

43.4%

·    Silver (Grams per tonne)

193 g/t

 

Note: Precious metals are credits (as shown) in the Lead and Zinc concentrates.

 

The Hellyer processing plant has been running at 94.7% plant availability for the month to date.

 

 

-END-

 

About NQ Minerals

NQ Minerals is an Australian-based mining company which commenced production in Q4 2018 at its 100% owned flagship Hellyer Gold Mine in Tasmania. Hellyer has a published JORC compliant Mineral Resource estimated at 9.25 Mt which is host to Gold at 2.57 g/t Au for 764,300 oz Au, Silver at 92 g/t Ag for 27,360,300 oz Ag, Lead at 2.99% Pb for 276,600 tonnes and Zinc at 2.35% Zn for 217,400 tonnes. In addition to these resources, the Hellyer assets include a large mill facility and full supporting infrastructure, including a direct rail line to port. The Company anticipates strong cash-flow and profitability from Hellyer and has a portfolio of exciting exploration prospects. Please visit our website at www.nqminerals.com.

 

Competent Person's Statement

The information in this report that relates to the Hellyer and Barnes Hill project is based on information (third party consultants) compiled by Roger Jackson, an Executive Director of the Company, who is a 20+ year Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and a Member of Australian Institute of Company Directors. Mr. Jackson has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves". Mr. Jackson consents to the inclusion of the data contained in relevant resource reports used for this announcement as well as the matters, form and context in which the relevant data appears.

 

For further information, please contact:

 

NQ Minerals plc:

David Lenigas, Chairman

[email protected]

 

Colin Sutherland, Chief Financial Officer
[email protected]

Tel: +1 416 452 2166 (North America)

 

Media Enquiries:

Graham Herring

IFC Advisory

[email protected]

Tel: +44 (0) 7793 839 024 (United Kingdom)

 

Corporate Adviser:

First Sentinel Corporate Finance Limited

Brian Stockbridge/Liza Vasilyeva

Tel: +44 207 183 7407 (United Kingdom)

 

 


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