Company Overview
Queensland Minerals Ltd. is a junior mineral exploration company whose shares are listed on the TSX Venture Exchange under the symbol “QML”. The Company’s projects are located in the state of Queensland in Eastern Australia and are held through its wholly owned subsidiaries, Queensland Minerals (Australia) Pty Ltd. (“QMA”) and Asmam Pty Ltd. (“Asmam”). Queensland, Australia has a rich history of significant gold discoveries, is politically stable, has local mining expertise, a well developed mining law and many world-class deposits in major commodities.
The Company’s efforts have been focused on gold-copper exploration, principally on epithermal and porphyry hosted styles of mineralization. The Company’s main asset is its 100% owned “Dingo Peak” prospect located on the Mungana project. Exploration work carried out at Dingo Peak, which includes 3D IP geophysical and magnetic surveys, has been encouraging due to the clear definition of a mostly intact porphyry system. In early 2009, the Company completed a comprehensive interpretation of the whole system and prepared a program of RC and deeper diamond drilling to evaluate the system at shallow to moderate depths. Further detailed geophysics will also be required to fully outline extensions of the prospective intrusive alteration targets indicated by both magnetics and IP surveys.
Due to the Company’s limited financial resources, all field activities were halted in October 2008 and the Company’s projects have since been on care and maintenance.
On February 23, 2010 the Company announced that it had entered into a non-binding letter of intent with Dundee Precious Metals to acquire a group of mineral licenses in Serbia. Please go to the February 23, 2010 news release for details of the proposed transaction.
