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NQ Minerals

NQ Minerals reports record monthly production from Hellyer Mine

NQ Minerals plc (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY) has announced that it achieved record production levels in July 2020 of metals concentrates from the Company’s flagship Hellyer Gold Mine in Tasmania, Australia.

July 2020 was the first full month of Hellyer plant operations at the new production rate of over 1.2 million tonnes per annum (“Mtpa”). The plant achieved:

·    Record Hellyer monthly plant throughput of 106,365 tonnes (1.25 Mtpa annualised).

·    Record monthly lead concentrate production of 4,075 tonnes concentrate, up from average monthly in Q2, 2020 of 2,921 tonnes of concentrates.

·    Zinc concentrate production of 1,509 tonnes.

·    Saleable gold in concentrates of 461 ounces gross (before processing and streaming deductions).

·    Saleable silver in concentrates of 89,854 ounces gross (before processing and streaming deductions).

David Lenigas, NQ’s Chairman, said: “The recent plant upgrades at Hellyer – an annualised throughput increase to over 1.2 million tonnes per annum at the end of July – have seen a welcome and dramatic improvement in Hellyer’s operational performance and output. Our lead concentrate production now accounts for around 85% of monthly revenue, up from around 75% last year due to the recent rises in gold and silver prices.”

Competent Person’s Statement (NQ Minerals Plc)

The information in this report that relates to the Hellyer Gold Mine is based on information compiled by Roger Jackson, an Executive Director of the Company, who is a +25 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.

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