QMines Ltd (ASX:QML) has returned more high-grade copper, gold and silver during reverse circulation (RC) drilling at its flagship Mt Chalmers Project in Queensland.
The explorer drilled 12 RC holes covering 2,162 metres and has since received assays for the first three holes, which intersected up to 4.7% copper equivalent.
Moreover, QMines’ holes fielded multiple, high-grade copper equivalent hits, including:
- 21 metres at 2.6% copper equivalent from 113 metres, including 8 metres at 4.7% from 119 metres;
- 29 metres at 1.6% from 161 metres, including 2 metres at 4.2% from 161 metres;
- 2 metres at 4.0% from 173 metres and 2 metres at 3.6% from 179 metres; and
- 16 metres at 1.1% from 132 metres, including 2 metres at 4.3% from 136 metres.
Results from the remaining nine holes are expected shortly as QMines works to release a third resource upgrade later this year.
Team “performing exceptionally well”
QMines executive chair Andrew Sparke said: “It is great to see the Mt Chalmers mine continue to deliver shallow, thick high-grade drilling results.
“Further step-out drilling is continuing at Mt Chalmers, where the deposit remains open in a number of directions.
“The RC rig and our drilling team are performing exceptionally well with significantly more metres being reported on a more regular basis.”
QMines is out to upgrade and expand its current resource at Mt Chalmers, and its recent 12-hole program marks the first step in a 10,000-metre RC campaign.
All 12 holes were drilled across the northern and western ends of the project’s main pit.
While it’s still early days, the RC drilling to date has identified wider mineralisation hits than expected and provided some evidence of stacked mineralised zones at Mt Chalmers.
In fact, recent drilling has pinpointed two mineralised horizons, with a second, underlying horizon identified below the main resource.
Next up
Going forward, QMines will continue to deliver assayed results as copper equivalent, with all results for base and precious metals that make up the copper equivalent result also shown.
QMines will continue its 10,000-metre program throughout 2022’s second and third quarters.
The explorer hopes to deliver around 2,200 metres of RC drilling each month, creating a busy news pipeline over the season.
Drilling is also set to begin at the Woods Shaft prospect — the first of three JORC 2012 exploration targets at Mt Chalmers.
Preparations are also underway to drill Tracker 3, the first of four large copper and zinc soil anomalies at the project.
In addition, a 1,800-line kilometre Heli-electromagnetic survey is planned to identify further drill targets; while a third resource upgrade is pencilled in later this year.