NQ Minerals Reports Record Monthly Production from Hellyer Mine

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04/08/2020 14:00
London, United Kingdom – August 4, 2020 – NQ Minerals Plc (AQSE:NQMI, OTCQB:NQMLF, OTCQB:NQMIY) (“NQ” or the “Company”) announces it achieved record production levels in July 2020 of metals concentrates from the Company’s flagship Hellyer Gold Mine (“Hellyer”) 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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About NQ Minerals
NQ Minerals Plc is listed on London’s Aquis Stock Exchange (AQSE) under the ticker NQMI and has it’s 1:100 ADR traded on the US OTC QB under ticker NQMIY and its ordinary shares are dual traded on the US OTC QB under the ticker NQMLF. NQ Minerals operations are in Australia. NQ commenced base metal and precious metal production in 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 2.57% 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 is also planning to re-open the historic high-grade Beaconsfield Gold Mine in Tasmania, which has a JORC (2012) compliant Mineral Resource Estimate of 1.454 Mt at 10.3 g/t Au for 483,000 ounces of gold. Regular updates on the progress of the Hellyer Gold Mine and Beaconsfield can be viewed on NQ’s website at www.nqminerals.com



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