• Oakmount and Partners

Oakmount and Partners Ltd. NQ Minerals Newsletter in July 2020.

Updated: Aug 28, 2020

NQ Minerals Plc announces that the Tasmanian Government has now formally transferred the Mining Lease ML 1767 P/M, that covers the Beaconsfield Gold Mine, to NQ's 100% subsidiary Pieman Resources Pty Ltd.

About the Beaconsfield Gold Mine

The Beaconsfield Gold Mine has historic recorded production of c.1.8 million ounces of gold averaging c.15 grams per tonne (c.½ ounce per tonne). The Company plans to re-open the mine as soon as practicably possible.

On May 7, 2020, NQ also announced a new JORC (2012) compliant Mineral Resource Estimate of the lower section of the Beaconsfield Gold Mine of 1.454 million tonnes grading 10.3 grams per tonne (g/t) for 483,000 ounces of gold.

Significant additional gold potential is still to be assessed in the upper section of the old Beaconsfield Mine workings, plus the orebody remains open at depth.

David Lenigas, NQ's Chairman, said: "I'm pleased to announce that the Beaconsfield Mining Lease has now been formally transferred by the Tasmanian Government to NQ Minerals.

Work has already commenced on site with respect to the gold treatment plant refurbishment and the deployment of geologists to site to commence a detailed sampling programme of surface stocks potentially available for start-up plant feed."

Competent Person's Statement (NQ Minerals Plc)

The information in this report that relates to the Beaconsfield 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.


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