QMines Ltd (ASX:QML) continues to intersect broad zones of high-grade copper, gold, silver, lead and zinc mineralisation from its step-out drilling program at the Mt Chalmers Project, situated 17 kilometres northeast of Rockhampton in Queensland.
Results include multiple wide and high-grade intersections with peak values of 5.3% copper, 11.75 g/t gold, 243 g/t silver, 33% zinc and 19% lead.
Importantly, QMines’ 30,000-metre drilling program continues with two rigs onsite where the resource remains open in all directions and further results are awaited.
“Fast-track value creation for shareholders”
QMines is looking forward to accelerating exploration activities.
“The current drilling program is focused on near-mine resource extension drilling," QMines executive chairman Andrew Sparke said.
“It is pleasing to see further wide, high-grade and shallow intersections outside the current resource.
“Given recent results, and the fact that QMines is yet to drill its three near-mine Exploration Targets and four large soil anomalies, management sees an opportunity to accelerate its exploration and development plans to fast-track value creation for our shareholders.”
Drilling results
Qmines’ reverse circulation (RC) and diamond drilling programs have been designed to expand the resource model, with several step-out holes having now been drilled on the western, southern and eastern sides of the open pits.
Significant intersections from recent drilling include:
- 35.3 metres at 2.75 g/t gold, 1.4% copper and 4 g/t silver from 96.4 metres, including, 5.5 metres at 9.91 g/t gold and 4.0% copper and 13 g/t silver from 96.4 metres;
- 15.5 metres at 0.47 g/t gold, 0.4% copper, 42 g/t silver, 2.3% lead and 3.9% zinc from 50 metres, including, 5 metres at 1.14 g/t gold, 1.1% copper, 119 g/t silver, 6.9% lead and 11.3% zinc from 50 metres;
- 8.6 metres at 1.98 g/t gold, 0.2% copper, 36 g/t silver, 1% lead and 2% zinc from 49 metres; and
- 10 metres at 0.45 g/t gold, 0.21% copper, 21.1 g/t silver, 1.0% lead and 3.4% zinc from 39 metres.
The results outlined above are to be included in the pending resource upgrade based on drilling results completed by QMines this year and all historical holes drilled by previous explorers.
Mt Chalmers tenure
Forward plan
- QMines’ 30,000-metre drilling program continues with two rigs onsite where the resource remains open in all directions and further results are awaited.
- Downhole electromagnetics on several holes already drilled with results to be released upon completion.
- The company has planned an expanded soil sampling utilising Niton Portable PAS XRF delivering real-time soil geochemical data for future drill targeting;
- QMines is executing a 1,800-line kilometre Heli-EM survey expected to commence in the first half of 2022 to identify further drill targets.
- Furthermore, a pending resource upgrade is due based on drilling results completed by QMines this year and all historical holes drilled by previous explorers.