Diversified Mining and Resources Acquires the Palmerville Project – A Major New Critical Minerals Hub in Northern Queensland

Diversified Mining and Resources (DMR) is pleased to announce the 100% acquisition of the highly prospective Palmerville Project from Native Mineral Resources (ASX: NMR).

This transformative transaction adds one of the largest and most strategic land packages in North Queensland to DMR’s growing portfolio of gold, copper and critical minerals and battery metal assets.

 

A Truly Strategic and Diversified Critical Minerals Portfolio
The Palmerville Project delivers immediate exposure to a pipeline of high-priority copper, gold, antimony, silver, lead and zinc targets in a proven mineral province and Rare Earths (REE) .

With global demand for these commodities surging, Palmerville positions DMR at the forefront of the energy-transition and defence-related supply chains.

Leaders Amongst Giants
Palmerville comprises one of the largest continuous tenement holdings in North-East Queensland, covering almost the entire northern extension of the world-class Chillagoe Formation. The project spans:

  • 9 granted Exploration Permits for Minerals (EPMs)
  • Over 1,300 km² of contiguous ground
  • More than 130 km of strike along the Palmerville Fault corridor – a major crustal structure with proven endowment in gold and base metals

This package adjoins the existing Fish Creek EPM and other EPMs held by DMR, creating a district-scale footprint which places DMR alongside the region’s major producers while retaining full ownership and operational control.

Balanced Risk Profile
The project hosts a mature portfolio of prioritised targets ranging from

  • ranging from early drill targets with major uplift potential through to high-grade soil and/or rock chip anomalies on over 50 targets.

This tiered pipeline provides multiple shots on goal while minimising exploration risk through systematic, data-driven target ranking.

Commodities

Copper, Gold, Antimony, Silver, Rare Earths (REE)

 

 

Historical mining

Fairlight copper mines (30% Cu), Glenroy copper mines, Pinnacle Hill alluvial mining for copper and gold

 

 

Exploration

> 30,000 line kilometers of magnetic data, radiometric collected at Palmerville Multiple anomalous copper drill hits at Leane’s

Exploring with Smart Geology and Smart Technologies
DMR will deploy its proven exploration methodology at Palmerville, combining:

  • Deep geological expertise in North Queensland terranes
  • Cutting-edge geophysical datasets (airborne magnetics, radiometrics, and upcoming 3D IP)
  • Machine-learning assisted target vectoring

Forward Thinking – Unlocking Previously Unrecognised Discovery Potential
The Palmerville acquisition adds a pipeline of new opportunities that were previously unrecognised or underexplored:

  • Large-scale porphyry copper-gold targets (Maneater Hill style)
  • High-grade antimony-gold veins critical for battery and defence applications
  • Intrusive-related breccia and skarn systems with zinc-lead-silver credits

  • Key Indicators of REE Prospectivity

    • High-priority radiometric anomalies detected during the 2023 project-wide airborne magnetic and radiometric survey – Elevated thorium (Th) and uranium (U) responses typical of ionic-adsorption and monazite-rich REE systems – Multiple discrete, kilometre-scale anomalies coincident with interpreted granitic intrusions and favourable metasedimentary host rocks
    • Proximity to known REE mineralisation – Tenements lie immediately along strike and in the same geological corridor as Arc Minerals’ Mitchell Sands Heavy Mineral Sands Project, which has reported encouraging monazite concentrations hosting REE

The Palmerville Project significantly strengthens Diversified Mining and Resources’ position as a leading critical minerals explorer and developer in Australia. Systematic exploration is underway, with the first round of priority drilling scheduled for Q1 2026.

Cu, Au, Sb and REEs

Overview

  • 130-kilometer-long tenement package covering almost the entire northern Chillagoe Formation
  • Most underexplored part of the Chillagoe Formation = increased opportunity for discovery
  • Close to existing mines and infrastructure
  • One of the fastest growing areas of exploration for copper and gold in Queensland
  • Tenements cover part of the extremely rich Palmerville Goldfields

Attributes

  • Significant area made up of 10 tenements, 495 sub-blocks, 1944 km2,  100% owned by NMR
  • 30,000 line km airborne magnetic survey completed 2023
  • Over 50 targets identified including Cu, Au, Sb, Pb, Zn and Ag.
  • Existing copper targets at Leane’s, Fairlight-St George (historical copper mining), Glenroy (Historical copper mining), Pinnacle Hill, etc
  • Multiple potential copper breccias (e.g. Pinnacle Hil) identified for immediate follow-up.

Prospects Highlights

St George - Fairlight (COPPER)

  • The Fairlight mine is an ~30m deep shaft at the contact between red jaspers and altered mafic intrusives.
  • Historical mining with grades reported to be 30% copper
  • Initial NMR samples returning positive results of up to 7.99% Cu with 9ppm Ag.

Leane’s Copper (COPPER)

  • Copper already identified at Leane’s prospect
  • Surface samples of up to 31.1% Cu
  • Shallow drill intercepts of 33m @ 0.49% Cu including 2m @1.1% Cu (LRC04)
  • 9 shallow drill holes completed
  • Interpreted top of deeper porphyry system, with geophysics planned before deep drilling completed

Glenroy (COPPER)

  • Glenroy also associated with historical mine shafts
  • Samples from NMRs recent field campaign returned grades of 19.9% Cu

Bald Hills (GOLD)

  • Located on major, prospective regional aeromagnetic anomaly
  • Same copper belt as Leane's copper breccia project
  • Also contains historical copper workings.
  • Anomalous gold and copper values from soil and rock chip sampling, 8.1 g/t Au and 0.575% Cu.

Pinnacle Hill (COPPER)

  • Possible Cu-Au breccia pipe containing historical workings
  • Rock Chip samples of 13.8 and 11.3% Cu
  • Initial multispectral results pointing towards multipe copper targets
  • Under explored target with high potential

Emerging Rare Earth Elements (REE) Potential Added to the Portfolio 

Diversified Mining and Resources (DMR) has identified compelling rare earth elements (REE) potential across portions of the Palmerville Project tenements through a combination of radiometric signatures and favourable geological nearology.

  • High-priority radiometric anomalies detected during the 2023 project-wide airborne magnetic and radiometric survey – Elevated thorium (Th) and uranium (U) responses typical of ionic-adsorption and monazite-rich REE systems – Multiple discrete, kilometre-scale anomalies coincident with interpreted granitic intrusions and favourable metasedimentary host rocks

  • Proximity to known REE mineralisation – Tenements lie immediately along strike and in the same geological corridor as Arc Minerals’ Mitchell Sands Heavy Mineral Sands Project, which has reported encouraging monazite concentrations hosting REE – Shared geological setting with the broader Cape York–Laura Basin region, increasingly recognised for both heavy mineral sands and hard-rock REE potential

  • Favourable geology for multiple REE styles – Granite-related and peralkaline intrusive centres highlighted in 2024 geophysical interpretation – Extensive areas of deeply weathered regolith profile ideal for ionic-adsorption clay-hosted REE – Potential for both hard-rock (monazite-xenotime) and placer-style enrichment

Leanes Cu Prospect

A copper discovery with exceptional results already obtained.

Well-defined target anomaly found at surface - soil sampling and rock chips indicate very high prospectivity.

New magnetics undertaken since drilling, de-risking further exploration.

  • Historical soil sampling with up to 7750ppm Cu is indicative of a copper-rich system
  • 700m anomaly defined by >1000ppm Cu within hydrothermal breccias in limestone contact. 13 samples on the trend have an average of 3110ppm Cu.
  • Best rock chip samples are 31.1% Cu, 23.9% Cu, 1.29% Cu, 1.32% Cu, 3.55% Cu and 5.53% Cu

Initial shallow drilling has produced some encouraging results leading to the planning of a deeper drill hole.

  • 28m @ 0.55% Cu, 4m @0.55% Cu, 11m @ 0.32% Cu
  • 2 separate drill holes intersect multiphase porphyry intrusives with disseminated and massive sulphides evident.
  • On-track for quick discovery. The current results are equivalent to the results found in early stages of Mungana, a deposit to the south of Leanes with a JORC 2004 Probable Resource of 1,130,000 tonnes @ 10.2% Zn, 0.8% Pb, 1.7% Cu, 1.04g/t Au and 122g/t Ag.
  • Fine-grained porphyry intrusives synonymous with major Mungana, Red Dome and King Vol mine deposits to south.
  • Results continue to prove NMR's exploration model for a major, Mungana-style copper breccia deposit.
  • Located less than 120 kilometers north of multiple Copper + Gold + Silver + Lead + Zinc mines of the famous Chillagoe minng district.
  • On-track for quick discovery using knowledge (e.g. depth to target) gained from studying other copper mines in the region.
  • Leanes is located within the same Chillagoe Formation as other deposits and also exhibits very similar geology to the deposits such as Mungana and Red Dome (see table below)
  • Similar size and surface anomaly footprint to the Red Dome deposit (see comparison figure below)
  • Fine-grained porphyry intrusives recovered in drill holes. The intrusions and rock associations are synonymous with major Mungana, Red Dome and King Vol mine deposits to south.
  • The current results are equivalent to the results found in early stages of Mungana, a JORC 2004 Probable Resource of 1,130,000 tonnes @ 10.2% Zn, 0.8% Pb, 1.7% Cu, 1.04g/t Au and 122g/t Ag

Fairlight - St George Cu Prospect

  • Very high potential for a copper discovery exceptional results already obtained from a proven copper producing area.
  • Small tonnages of ore were reportedly mined at estimated grades of 30 % Cu.
  • Shafts reaching 30m depth. The site is also surrounded by multiple historical workings suggesting extensive copper footprint at the surface.
  • The St George Group of workings consists of a series of pits, shafts, and trenches developed in 1905.
  • Historical rock chip samplings returned values of over 1oz/t silver.
  • > 5km-long area rigch in opper at the surface. No high-risk explroation under cover required.
  • Rock types are prospective being basalt, silicified breccia, and quartzite. Mineralisation occurs in limonitic veins, pipes, breccia fill, and disseminations.
  • Reported ore minerals included copper carbonates, malachite, chalcocite, tetrahedrite, tennantite, enargite, chalcopyrite, bornite, and cinnabar.
  • NMR’s own rock chip sampling of new prospects to the south of the historical mining area are revealing high potential with up to 7.99% copper.
  • Historical soil sampling* with samples returning over 10,000 ppm Cu is indicative of a copper-rich system

*DMR relies on NMR data, NMR have not re-sampled the area where these historical soil samples were obtained.

2023 Airborne Magnetic Survey

2023 – Palmerville Project airborne Survey

  • Airborne Magnetics survey undertaken to help better define target lithologies and structures.
  • Follow-up processing of raw data field delivered images for the entire Palmerville project.
  • 2024 structural interpretation carried out splitting Palmerville into 2 sections
    • Palmerville North
    • Palmerville South
  • 3D modeling and interpretation of geophysical & existing data completed for
    • Leane’s Prospect
    • Fairlight Prospect
    • Glenroy Prospect
    • Big Bend Anomaly
  • Multiple high priority targets highlighted by the two reports as well as many lower priority targets across both the south & north sections of Palmerville

DIVERSIFIED MINING AND RESOURCES

To prove up and develop critical mineral, rare earths (REE), defence mineral projects.